SVKMarkets Review – is SVKMarkets a good forex broker?

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

SVKMarkets offers a wide variety of trading products to its clients as the company is a partner of CityIndex. It is registered in the UK and regulated by the Financial Conduit Authority.

SVKMarkets offers multiple ways to trade any particular instrument. As you may know, the distinction between CFD trading and Spread Betting is made for certain tax benefits in some jurisdictions (most notably the United Kingdom). In spread betting one places a bet on the future price movement of a certain financial instrument. Instead of determining the size of his position, the participant indicates how much is willing to wager per point. Effectively the concept is very similar to trading on margin.

Regulation

As we mentioned SVKMarkets are regulated by the FCA, the United Kingdom`s financial watchdog. Their partners at CityIndex also fall under the same regulation. You may know this already, but as a reminder – trading with a well regulated broker has many advantages.

One of them is the assurance for customers’ funds, in case the broker goes bankrupt. The compensation scheme in the UK goes guarantees each client’s account up to GBP 50.000.

Trading conditions

When it comes to Forex spreads vary with a minimum of 0.5 pips for the major pairs and averages below 1 pip, which is relatively good. The offered leverage level is 1:200 for the major pairs, which is in line with the industry standard, although some people may find it high – as you may know, trading with higher leverage can be double edged sword – potential profits may come quickly, but the same applies for losses.

Other asset classes are also offered either as spread bets or CFDs.

For individual stocks, the trading conditions vary a lot (depending on the current market conditions and volatility of the particular stock) with spreads going as a 0.1% mark-up on the current spread in the underlying asset and margins going as low as 4%.

There are a lot more products in the offering – metals, interest rates, bonds and commodities.

Platforms

SVKMarkets offers several trading platforms, as offered by their partners at CityIndex. This includes the industry standard – MetaTrader4 and the AT Pro, Advantage Web and Mobile Versions. They are what you would expect from a trading platform, with nothing too flashy.

Deposits/Withdrawals

The deposits and withdraw methods are the same which their partners at CityIndex apply, They include:

• Debit card: Visa, MasterCard, Maestro and Electron
• Credit card: Visa, MasterCard,
• Bank transfer

Support

SVKMarkets’ support is via e-mail and telephone.

Conclusions

SVKMarkets are a partner of CityIndex – and as such they provide the same level of service. Both companies are regulated by the FCA. This means a client can feel safe for his initial investment. The company is a a great way for anyone to experience the world of spread betting.