MarketsKing
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  • MarketsKing

  • Regulated:  No
Broker Name: MarketsKing
Platform: OSystems
Founded: 2013
Bonus: Case Basis
Return/Refund: 65-85%/0-5%
No. Of Assets: 32
Regulated: No
Demo Account: No
Minimum Deposit: 250
US Traders: Accepted
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MarketsKing Review

by Martin Kay

Editor’s Note – Why MarketsKing doesn’t Suck in 50 words?

I was pleasantly surprised to find a fresh approach to a Binary Options website. I didn’t find the same rehashed content or the ancient “We focus on what really counts…” slogan. The layout is different and it doesn’t feel like a cheap copy of other brokers. Heck, they even quote John Lennon… Sure, quoting Lennon doesn’t make them the best broker, but it makes them different and this industry is in dire need of that.

 

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Why does MarketsKing Sucks?

I have bad news for those of you, who are fond of Social Trading: MarketsKing offers a simple yet effective way of following other traders and copying their actions. You might be wondering right now what the bad news is, right? Well, let me tell you: according to their Social Wall, a trader opened a Put on GBP/USD at 1.2802 and current price is 1.289 (below it says the trade was opened approximately three hours ago). According to my charts, the current GBP/USD quote is 1.6725 and three hours ago it was 1.6745. A similar issue can be noticed on EUR/USD. See the problem…?

 

 

MarketsKing Full Review – True King or a Just Young Prince?

Actually I’ve had my eyes on this broker for quite some time and I can tell you they show good improvement in a short period of time. Some of their links were broken and when you tried to download their free e-book, all you got was an error. All this was fixed recently and now they have a fully functional website, which looks very good and stands out of the crowd. The platform used is provided by OSystems and this comes with pros and cons. As an advantage I can mention the Limit Order feature which allows you to place an order at a desired level (even if the price of the asset is not currently at that price); your order (Call or Put) will just sit there until price reaches it, thus activating it. Limit Orders are very popular among Forex traders and I am sure binary options traders will quickly start to see the advantages of this type of trading. The drawback of the platform is that traders are only able to use Up/Down (Call/Put) options but after all that’s not such a big issue because simple Call/Put options are the most commonly used by traders.

 

The educational material provided is good to get you started but don’t expect some life changing insights into the secrets of binary options or in-depth analysis tricks. The e-book is pretty well structured and among other things, it discusses the importance of chart analysis and technical indicators. It would be nice if MarketsKing would also offer us a proper chart and at least a few technical indicators, especially if they emphasize the importance of these tools but it’s already known that binary options brokers don’t facilitate even basic technical analysis so I’m probably barking at the wrong tree. So, moving on to their Account section, we notice they have three types of accounts: Standard (starting at $250), Premium (starting at $1,000) and Platinum (starting at $5,000). The Standard account doesn’t offer a mobile platform but unless you’re a busy guy who wants to trade on the bus, in the coffee shop and anywhere in between, I don’t think the lack of mobile trading will be a big issue.

 

Overall MarketsKing provides a smooth experience and although there are still some things that need improvement, I believe they are on the right path.

 

 

Is MarketsKing a Scam?

Although they are rather new on the market, MarketsKing doesn’t look like a scam broker. Information about the owning company is easily available on their website and although they are not regulated, they seem to be an honest broker. However, we will keep monitoring and if any suspicions arise, we will update this review.

 

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MarketsKing Complaints

So far traders seem to be happy with the service provided by MarketsKing and we couldn’t find any major complaints when checking the most commonly used forums and websites.

 

MarketsKing Bonus

Bonus percentages differ according to the deposited sum and will be discussed with their representatives once you deposit.

 

MarketsKing Withdrawal

Processing a withdrawal takes about 5 to 7 business days and funds will be returned to the same place they originated. So if you deposited via CC, the same amount will be returned there and profits will be withdrawn via wire transfer.

 

MarketsKing Extras

The Social Trading Platform is a nice addition but the Limit Order is what really makes them stand out. This type of order is only available on the OSystems platform for the time being.

 

 

MarketsKing Ratings

User Friendly 16/20

The website is offered in only 3 languages (English, Arabic and Russian), but it is well structured and information is easily available. The platform itself is very intuitive and has good functionality. They’ve shown interest in U.S. traders and that’s a plus.

 

Number of assets and expiry times 12/20

MarketsKing’s Asset Index is rather limited, containing just 7 indices, 13 stocks, 2 commodities and 10 currency pairs. Their expiry times range from 60 seconds to 15 minutes, hourly and end of day. The only available type of option is Up/Down (Call or Put).

 

Commissions, Support and Effective return 12/20

There are no fees to open an account, support is satisfactory and the effective return ranges from 65% to 85% depending on the asset. The refund for Out of the Money trades can go up to 5% of your invested amount. Support was not the best.

 

Deposit, Payment and Bonus 14/20

The minimum deposit is 250 USD and can be completed using a credit card (Matercard or Visa) or wire transfer. Withdrawals take about 5 to 7 business days to be processed but additional time may pass until the money will reach your account. Bonuses are tailor made for each client, depending on the deposit amount.

 

Website Extras 10/20

Limit Orders and Social Trading bring diversity and fun. Those features also open the door to new and easier ways of profiting from Binary Options trading.

 

 

MarketsKing Overall Ratings: 64/100

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