MarketsSoft review – 5 things you should know about Marketssoft.com

MarketsSoft review – 5 things you should know about Marketssoft.com

Beware! MarketsSoft is an offshore broker! Your investment may be at risk.

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MarketsSoft is an offshore Forex brokerage registered in St. Vincent and the Grenadines. It provides a web-based trading platform, not the MT4 trading platform and the leverage is not disclosed. The required minimum deposit is the industry average of $250 and the spread is absurdly high at 6.5 pips on EUR/USD.

МarketsSoft regulation and safety

On the brokers website we read that the broker brand is owned and operated by a SVG-based company. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage. However, we further learn that the brokerage is owned by other companies as well, one of which is registered in Estonia. Such unclear corporate information is a certain red flag but we do remind readers that Forex brokers in Estonia have to be licensed by the local Finantsinspektsioon in order to operate legally in the country.

Without being much surprised through a quick check on the website of the regulatory agency we understand that the brokerage does not fall under regulatory oversight there as well. Discrepancies in the contact and corporate information are another sign that the brokerage is shady and should not be trusted. Furthermore, purposefully presenting false information is a major red flag in Forex trading.

On top of all this through further research on our part we discover that the Austrian FMA has issued an official warning against the brokerage claiming that it is targeting traders in the country without proper authorization and that it is further suspected to be part of scam operations.

Overall, the lack of regulation and the regulatory warning inclines us to suspect that potential clients of the brokerage may be open to substantial risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

MarketsSoft trading software

Putting all this aside – the brokerage also does provide the MetaTrader 4 trading platform which we always consider a disadvantage since it is the foremost trading terminal at the moment equipped with features such as almost a 100 market indicators, as well as customizable trading robots. It is also the preferred choice for more than 80 percent of the traders in Forex. Instead, we are presented with a web-based trading platform which we were able to get a look at through a demo account. We must take notice of the availability of a test-drive since it is not so common among unregulated brokerages.

We could see a spread of 6.5 pips which is to put it bluntly – absurdly high. No trader may hope to yield a profit through such a high spread and we further stress that it’s among the most unfavorable trading conditions we have seen and we advise interested traders not to register for a live account due to the many security concerns surrounding the brokerage which we outlined above.

MarketsSoft deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via plenty of payment methods. They include the standard Visa and MasterCard, as well as e-wallets such as Skrill, Neteller, QIWI  and AstroPay.

Going through the terms and conditions of the brokerage we did discover that MarketsSoft charges a 3.5 percent withdrawal fee which is a bit excessive and definitely should been as a disadvantage. There weren’t any other noteworthy provisions, but we do remind readers that many scammers choose not to disclose such information to would-be clients. Without proper information on the website we cannot be certain whether clients won’t be charged with any unexpected withdrawal or deposit fees once they invest. This is why we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the Forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as DaxRobot or CryptoContracts where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case Traderia – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
MarketsSoft
Broker Rating
1.31star1stargraygraygray

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44 Comments

  1. Yes Marketssoft are scammers, I have experienced it, they claim on their website that they are regulated by EFCA but they do not, so please be aware from them, they can ripped you off.

    1. Mee too a victim of marketssoft.com

    2. Please just give XM a try your minimum deposit is only $5 your orders will be executed in less than a second so to enjoy your entry level

    3. yes iknow the crooked company swallow the money in addition draw more money fromur credit card better avoid this bastard company

  2. I am receiving calls from marketsoft to deposit $250 as a seeding amount .
    I am worried about , is this a scam.
    He claims they are from market soft (profit Bitcoins)

    1. Hello there, I need rescue simply because I am getting the same calls telling me to deposit so that they can give 100percent bonus and to activate a robot for me so that the time I can’t be online to do everything for me.
      Can any one give me knowledge abt this site so that I may not fall a victim
      Thanks so much

      1. Same Mr. Yosefi … exactly the same 1-hour call to me about how it works (A robot handles it all) etc …And that the Capital investment will be doubled by the end of the week ..

      2. dont deposit whenever u receive callu abuse them

      3. it is a cheating site they willswallow ur money they willnicely talk whenever u receive callabuse themand scold them then slowly they willavoid u

    2. I already deposit a $250 how can i get the money back? After i read all the comments im scared already to loose my money. I never think this first.

  3. Yes, these are scammers

    1. Thank you for this…I just received a call just now for an hour forcing me to put my credit card details to deposit.I did not but he insisted and tried to forced me and talking way too much until it really pisses me of and i hanged the phone up. They sound like a desperate scammers…

  4. That s right,
    same story for me. The kept calling me asking to start trading. The are just a bunch of scammers, and not even the most clever ones in my opinion. As they sounded suspicious from day one, Ive never traded with them, and this pissed them off a lot. I asked to close the account… let s see what will happen… to be continued…

  5. I just recieved a call today, requiring me the amount of $250 to start trading as soon as possible. Told me he will call tomorrow.

    1. Same, exactly same call to me .. IDK what to do.

  6. Hi,
    Can you help me out as I registered with this $250 it’s activated even it’s showing in my account they made it $394 after this they keep calling me to invest $700 more? If you will deposit today you will get a bonus.
    Can you suggest me to should I have to go with this or not
    Thank you

    1. first read the condition for bonus after receiving the bonus u hv totrade 40 times for every trade u hv to loose entry fee and exit fee when u r having 394 what is the nececcessity for paying further if you receive calls abuse themthen u willnot receive call

  7. Even I am getting calls and they are asking me to deposit $250 and were asking me my bank card details but I didn’t give the details . I ask them to give me more time to think about it but they insisted a lot. I told them to call me back after 1 hour so can anyone tell me what to do now. Thank you

    1. at least yours went up, mine went down to $199.. I suggest you get out now while you’re ahead

  8. Is there any victims of Marketssoft? My mum has deposited her money. Looking how to help her now.

    1. end a reply tothe company that u hv voice recorded as audio clipand going tofile police complaint with the evidence and police told they will oit under cyber crime
      automatically themoney illcome back to u

    2. Call them then say I have plan to invest more money
      But I need to tray withdrawal how long taking time like that thay will release quickly after leave them

  9. You deposited the amount?

  10. Itrying to deposit my 250dollar through my credit card but unfortunately nextwork problem..70trade I deposited 200dollar In 2019 April they told me to send front pages of my credit card front and back including my international passport I do it.i cannot open my account , I didn’t received anything from them,I didn’t have any details about my account.. they send me form to fill..

    1. I deposit 3000 usd after I saw too much bad reviews
      Then 2nd time when I get call I say I have plan to invest more than 10000 usd but I need to tray to withdrawal my available fund need to tray u r scam let or not then thay release quickly full amount
      When I get find I blocked them

  11. 70trades also scammer I didn’t had opportunity to open my account..you go school to lead us but all the education degree they turned to fraud, scammer.while you will collect our money . immediately they received your money display falsely.disguard like they’re trying to helping you at the end of day dispear

  12. Hi can anyone reply me is this legit not scam, i registered my marketsoft account. and i received a call from agent explain how this trade will work after all the stories they told me to deposit 970SAR equivalent $250, i told them i will deposit tom.

    1. I deposited $250 just as you’re about to do and without anything someone else called that I should deposit more $750 to make it a thousand and I didn’t and then the next day my initial $250 deposit went down to $199.. think for yourself

    2. Same with me ! .. I am not sure if I should deposit to them or not
      (A ROBOT WILL BE HANDING US OVER THE PROFIT REALLY?)

    3. dont deposit
      u willnot get the money back

  13. First of all i extremely thankful the review posted you all and educate people like me or can say aware people about such scams. In fact me too have been receiving calls on regular basis for the same exercise but i have asked time from them and with in this time, have got checked this (MARKETSSOFT) authenticity before i go further on the subject TRADING.
    Finally after going through all your reviews, i have decided not to invest my harden money on to this MARKETSSOFT trading platform. Once again thank you for all your help putting up your valuable reviews.

  14. you peoples save me i was just going to deposit 250$ via wire transfer but i take u turn now thank you all

  15. She was insisting so much. Some how escaped. Thank you guys.

    1. How to get my USD 400 back 🙁 from these scammers? Can anyone please guide me

  16. Thank you all, just recieved the call also, I have told her I don’t have funds in my credit card for now, she kept on insisting and proceeeded for demo, become disappointed due to non availability of funds. Your comments and review are valuable

  17. Good day,I have read the negative reviews about them. I didn’t deposit with them but they have my card details, won’t that be a problem. Actually I don’t have sufficient funds in my account. Please help. Thanks

  18. MARKETSSOFT is the biggest SPAM ever!!!

    1. With the first call. they will ask you to add 250$ and they will promise you that you will have an account manager who will be helping you and providing all the information.
    2. Then they will call and ask you for more 250$ for their help, otherwise, they can’t help you.
    3. So once you already add your 500$, they will call you and you will start with the trading.
    4. The first 2 trades will be in profit for around 200$ more or less and you are happy and excited, then you are receiving another call that will be perfect if you can ADD more money to your account. Even that was your last money and you are not in the position to add more they will push you and push you to add more.
    5. They will ask you to join Webinar and your listening and trading same as MS. Kristy Leroy will do, and once you are doing that you are taking profit from one trade and you are loosing from another one and you don’t know what to do next because she will say one hour finished and will not explain what you need to do. Once you will talk to her because you are not a BIG MONEY PLAYER or you are just beginner, she will ask you to add 1000$ so she can help you not losing all your money. Once I told her I don’t have, she told me: ” You don’t have a credit card?, or maybe you can takebarrow from someone and I will be able to help you”
    6. Once you can’t add more next step it’s losing money. Your Account account manager will call you and tell you there is a good moment to open this position and after 30 min you are losing it all your money. Y??? Because they will ask you to open 2 trades and both will be loosing and you will have no enough money on your account or how they call it MARGIN, so the trades will be automatically closed.
    7. Once you lost all your money no one will call you, even the online chat will not work anymore. Because there are no options to call your account manager, the only option to send messages to an online agent.
    My first account manager was MAX and he was so rude and not responding at all, the second one who should help me to recover from the first loss was Steven, he was calling once I need it, till he saw they I won’t be able to add more money.

    1. This is the same thing happened to me. And I can’t withdraw my remaining money from my account even I submitted documents to verify my account for withdrawal.

    2. this 100% true…
      same this way.
      I lost my capital more than $3000 in this fucking trader

  19. THANKS
    I really appreciate the experienced share here, i received a call today from a lady,she keep persuade me to patronize their trade which i ask if there is any of their branch around here, she said no, that they are online trade .
    but,i have mistakenly drop some of my card detail on the platform,hope im safe friends , please enlighten me on what to do .

  20. Hi All,

    Thanks for your valuable response, even i received a call yesterday, i ask time until my salary come. luckily i didn’t deposit.
    Thanks for your review all.

  21. I am really scared from March 31- 2020 until April- 2020 on MarketsSoft broker she scam me 8500.usd so please do not invest your money in wrong way like MarketsSoft on line business

  22. 3 people called me…one is from England second is from Saudi and the third one is from Estonia. I did deposit $250 and 2nd person convince me to deposit more…I asked her why should I? I already deposit $250 and the 1st guy told me once I deposit $250 it will doubled but until now I didn’t receive it yet? That’s the time I feel nervous and I know I am now a victim of scam. And at the moment I checked my account and try to withdraw the remaining money and even I submitted the documents needed to verify my account to be able to withdraw still I can’t. This is my first time to invest in trade and I really disappointed. Beware guys. If someone call u and stay on the phone for one hour just to convince u to deposit just hanged up the phone. Save ur money.

  23. CIAO, la stessa cosa mi e successo a me,ho perso 1500 euro,solo perche il mio manager mi faceva fare operazioni che perdenti,fino ad arrivare in meno a 1650 euro… e una volta finiti i soldi non ti chiamano nessuno,e non sanno chi sei…. truffatori di merda…
    —————————————–
    HELLO, the same thing happened to me, I lost 1500 euros, just because my manager made me do transactions that lose, up to less than 1650 euros … and once the money is finished they don’t call you anyone, and not they know who you are …. shit scammers …

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