Marketsworld was owned and operated by Markets The World Ltd, an Isle of Mann registered and regulated binary options broker. The company was located in Burleigh Manor, Peel Road, Douglass, The Isle Of Mann, IM1 5EP, Great Britain. They can be reached through live chat, email at [email protected] and by phone, number +44 (0) 1624 679 022. If you don’t want to use up your phone minutes or pay international rates they have fax as well. Marketsworld was regulated by the Isle Of Mann GSC, the Gambling Supervisory Commission, and is technically a casino but a casino offering safe binary options trading.
Is MarketsWorld a Scam?
Marketsworld is not a scam. They may seem a little different from the Isle of Mann regulation and all but that is OK. The broker has been operating with honesty and integrity the entire time, under the watchful eyes of its regulators, with very little in the way of complaints or issues with their clientele. The only downside is that like a casino there are fewer protections for consumers than with a financially regulated broker but the difference is minimal.
Editor’s Note – Why does MarketsWorld Suck?
Their style is…amazing. Amazingly close to a casino. Well, yeah, that was in the old days. The broker has recently rebranded itself, more like restyled itself, into a less flashy casino style website into a less flashy binary options website. The real reason they might suck is that they only have high/low options, they only have short term/intraday expiries and the asset list is small, only 18.
Why MarketsWorld doesn’t Suck?
To be honest, I’ve been pleasantly surprised to find out they offer a Demo account. A real Demo account; and I can gain access to it by registering with just my name, a password and an e-mail (that e-mail doesn’t even need to be a real one). All brokers seem to be afraid to offer a Demo account and why they are so afraid of that is beyond my comprehension. Think about this: I go into a clothes store, I like a $200 jacket and I decide to try it on before buying it. Now, if the shop assistant would tell me that I have to give him $200 before I can try it on, I would probably tell him to shove off and I would leave that store, never to return. Markets World lets me try the jacket on before buying it and although this should be the standard in the Binary Options industry, unfortunately, most brokers don’t offer this feature.
Marketsworld doesn’t suck for a couple of more reasons than just a demo account. First, they are a regulated broker so are at least a little bit trustworthy. The other thing is that as a casino they are open to a much wider number of traders. What I mean is, they accept traders from all over the world including the US. On top of that they have higher than average payouts, low minimum deposit and trade size, a free unlimited demo account and a decent platform.
Should I Open an Account with MarketsWorld?
Ok, let’s talk a bit about their platform: according to Markets World, it’s a custom platform built by them but to be honest it doesn’t really live up to the industry standard. The good news is that they have recently upgraded to a better version but frankly, it is still a little lacking in terms of feel and function. The really good news though is that it is still the same old traditional digital binary option that we have all come to know and love, and it will stay that way safely protected by the GSC.
Marketsworld is a very basic broker but a decent one, and a regulated one. They have a small asset list but it is filled with the names you want to trade and in the end, do you want to trade 100 assets at a broker who will keep your money even if you win or 18 at a broker you can trust? The list includes indices and commodities but is very heavily geared toward forex so if that’s what you like to trade you will not be disappointed. Trading is also a little limited, they don’t have all the exotic one touch, over/under or boundary options, just the standard high/low digital trade. Expiry is great for day traders, the shortest is less than 5 minutes, the longest is an end of day with dozens of choices in between. To back it all up they also have a free demo account that never expires and can be reloaded if you wipe it out.
Update August 2017 – The MarketsWorld rebrand and platform update is really nice. The trading is much the same but the platform is more in line with what traders are looking for, and with better functionality. The charts are a huge improvement. They only have 1 minute bars so far as I could tell but you could zoom in as close as a 5 minute view or as far out as several days to get a real feel for price action. Prices can be viewed in line of candle formation, and the chart can be maximized to the full screen. There aren’t any drawing tools or indicators yet but I would expect to see some in the not too distant future.
The minimum deposit, minimum trades size and payouts are also very nice. Minimum deposit is only $10 and can be made by wires, CC or most eWallets. The minimum trade size is only $1 which makes a $10 deposit something you can work with. The payout is what is really nice here, up to 90% in most cases with an average over 80%, much better than almost anywhere else you can trade. Withdrawals are easy and guaranteed by regulation, your money is always held in separate accounts and always available. Withdrawals are typical for the industry, 3 days to process and up to another 10 business days to show in your account if you use CC or wires. Ewallets are fastest and may reach your account in as little as 3 days from request.
Markets World Complaints
Overall we couldn’t find any worrying complaints about Markets World; in fact, most of the people out there said good things about them but the opinions are mixed and there are some guys that complain about price manipulation. However, no clear evidence of that could be discovered by us.
Update August 2018 – Still no major complaints and one less reason too, the platform upgrade is nice and will help attract more serious traders.
Markets World Bonus
Marketsworld has a number of attractive bonuses but the real bonus is this: Marketsworld has only ever offered bonuses as rewards for trading and never as a means to tie up your deposits. All bonus monies are held in a “bonus” account until you reach volume requirements. The best part is that you can always withdraw your money and it will never affect your bonus, all you have to do is trade 50X the bonus amount to get it. Bonuses include $10 no deposit bonus, first deposit cash match and a monthly rewards program.
Markets World Withdrawal
Marketsworld withdrawals are awesome because you get them, no joking. There are no fees unless you use wire transfers. It takes 2 days to process and at least 1 day to show into your account. Wires take the longest and maybe a full business week once processing is completed. There are also no minimum, maximum or limits on withdrawals, you can make as many as you want as often as you are able.The minimum amount is $10, the lowest in the business. If you want to withdraw via wire transfer, they offer one free withdrawal per month and for any additional wire transfers made during the same month, you will have to pay a $50 fee. Identification documents are only required “once you’ve withdrawn thousands of dollars in total” according to their customer support representative.
Markets World Extras
The free Demo account is by far an Extra. There are no strings attached, no questions asked. I am sorry that I have to consider a Demo account an Extra feature because it should really be common. But until more brokers offer it, it will remain an Extra and a good one I might add. Another extra is the new platform upgrade, its proprietary needs more work and still limited but a big improvement over the old one.
Markets World Ratings
User Friendly 16/20
Their website is offered in 9 languages including English, Russian, Italian, Spanish, French, German and a few more. So it covers some of the common languages. The trading charts are too small and there are some delays that I don’t understand but I certainly don’t consider those friendly at all.
Number of assets and expiry times 15/20
The asset list is pretty small and is mostly forex pairs so you will need to be a forex trader or want to trade forex to really make the most of it. The only commodity I’ve found listed is gold, they say there are indices but I’ve not seen them. Expiry is decent, dozens for each asset and all short term with 5 minute out to end of day options.
Commissions, Support and Effective return 18/20
There are no commissions or fees for deposit or withdrawal except the 50 dollars charged if you want to make more than one monthly wire transfer withdrawal. The payout is an amazing 90% but to be honest I only saw that in their pictures and I couldn’t find it on any asset available to trade; they offer no OTM refund. The support is quite helpful and polite but at times they seemed too eager to finish the conversation.
Deposit, Payment and Bonus 18/20
Deposits are easy and can be made with wires, credit cards and a variety of eWallets. Payments are also easy and can be trusted due to GSC regulation. Bonuses are also offered and come with very nice terms, all are paid as rewards and not as up-front payments that tie up your account.
Website Extras 15/20
The Demo account rocks and I would give them a full 20/20 rating for the Extras… But the rest of the platform is so limited and elementary I had to take some points back.