Concept Markets review – 5 things you should know about conceptmarkets.pro

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

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

The Concept Markets website assures us that this forex broker is trusted around the world. But even a basic inspection shows that this cannot be true. In this review, we show you the evidence that the Concept Markets is not what it claims to be. We will also recommend brokers who are truly reliable and can be trusted.

Concept Markets Regulation and safety of funds

The biggest red flag about Concept Markets is that this website is completely anonymous. Nowhere is a company name given, a no contact address or details of a regulatory license provided. Not even the text of the legal documentation mentions a legal entity name.

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

The Terms and Conditions reference the courts in Poland, but Concept Markets is not among the brokers authorized by the Polish Financial Supervision Authority.

Another European financial regulator, Germany’s BaFin, has issued warnings to investors not to trust Concept Markets.

If you have decided to invest in financial instruments you have a choice of much more trustworthy options.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

Concept Markets Trading software

Concept Markets implements a basic web-based trading platform. Here is how it looks like:

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Concept Markets Trading instruments

The trading software of Concept Markets  ostensibly allows trading of major currency pairs, commodities, indices, cryptocurrencies and shares. But as stated, there is no good reason to believe this trading is real.

Concept Markets Spreads and cost of trading

In the trading platform we see a spread of 3 pips. This level is double the typical industry level and is very unprofitable for the trader. It is unclear if Concept Markets charges additional commissions.

Concept Markets Maximum leverage

Concept Markets offers leverage up to 1:200 for different types of trading accounts. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Concept Markets Deposit and withdrawal methods

The Concept Markets  website advertises conventional payment methods such as credit cards and wire transfer, but the deposit menu narrows the choices down to various cryptocurrencies.

Fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Concept Markets Minimum deposit

Concept Markets specifies a minimum deposit of 250 USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Concept Markets Withdrawal requirements

Withdrawing funds becomes very difficult if the account has received a bonus. In such a case, minimum traded volume requirements of 25 times the value of the bonus must be met. Regulated brokers do not offer bonuses at all, and scammers often use them to tie withdrawals to huge fees and impossible to meet conditions.

Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.