EACHMARKETS
Pros and Cons
Pros
- Diverse range of market instruments including Forex, indices, commodities, and cryptocurrencies
- High leverage options available up to 1:500
- Multiple account types catering to different trader levels
- Trading platforms: MetaTrader 4 and MetaTrader 5
- Competitive spreads starting from 1.0 pip on certain accounts
Cons
- Unregulated broker with no oversight
- Limited educational resources for traders
- Outdated trading platforms (MT4/MT5 only)
- Poor customer support with slow response times
- Ambiguity in spreads and commissions
Basic Information
User Reviews
EACHMARKETS Overview
EACHMARKETS, founded in 2018 and headquartered in the United Kingdom, operates as an unregulated forex broker. The absence of regulatory oversight raises significant concerns regarding the safety and legitimacy of trading with this broker, as clients may face heightened risks and potential fraud. With a minimum deposit requirement of $100, EACHMARKETS offers a starter account featuring leverage of up to 1:500 and spreads beginning at 1.0 pip. However, the lack of regulatory credentials diminishes trust and transparency in its operations, making it essential for potential traders to exercise caution.
EACHMARKETS provides access to a diverse range of trading instruments, including forex, commodities, indices, and cryptocurrencies, catering to various trading preferences. The broker supports popular platforms like MetaTrader 4 and MetaTrader 5, which offer essential trading tools but lack innovative features. Customer support is available via multiple email channels; however, it has faced criticism for slow response times and unhelpful assistance. Although EACHMARKETS presents competitive spreads, the overall trading experience may be hindered by its lack of educational resources and outdated platforms. Traders should weigh these factors carefully when considering their options in the forex market.
Is EACHMARKETS Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No valid regulatory authority | United Kingdom | No investor protection measures in place |
Is EACHMARKETS Regulated and How Are Client Funds Protected?
EACHMARKETS operates as an unregulated broker in the United Kingdom. This lack of regulation raises serious concerns regarding the safety and legitimacy of the broker. Without oversight from a recognized financial authority, traders are exposed to various risks, including potential fraud and inadequate protection of their funds. The absence of investor protection measures means that there are no guarantees in place to safeguard client deposits. Moreover, the broker’s lack of transparency regarding its operations and customer support further adds to the uncertainty surrounding its credibility. Overall, potential clients should be cautious when considering EACHMARKETS for trading, as it does not provide the regulatory assurances that contribute to a safe trading environment.
Trading Products and Services
What trading instruments does EACHMARKETS offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, USD/JPY, AUD/CAD | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | Many |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
EACHMARKETS provides a diverse range of trading tools across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety caters to different trader profiles, from beginners seeking to explore the Forex market to seasoned investors looking for diversification through commodities and indices. The inclusion of cryptocurrencies also appeals to those interested in digital assets. With numerous tradable products available, traders can develop flexible strategies, adapt to market conditions, and build a balanced portfolio, which is essential for effective risk management.
Account Types and Trading Conditions
What Account Types and Fees Does EACHMARKETS Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Starter Account | Beginners | Minimum deposit of $100, high leverage up to 1:200, competitive spreads from 1.0 pip. | Designed for small-capital practice; may not cater to experienced traders’ needs. |
| Advanced Account | Experienced Traders | Minimum deposit of $1,000, tighter spreads from 0.5 pips. | Requires a higher trading volume; may not provide features that advanced traders expect. |
| Pro Elite Account | Professional Traders | Minimum deposit of $10,000, tightest spreads from 0.1 pip, leverage up to 1:500. | Exclusive access for high-net-worth individuals; requires significant capital. |
Account Opening Process
To open an account with EACHMARKETS, traders must complete several steps. First, they need to submit personal information, including their name, contact details, and date of birth. Following this, employment details and financial information are required to assess the applicant’s trading experience and risk tolerance. Identity verification is also necessary, which includes providing a government-issued ID and proof of address, such as a utility bill or bank statement. The process allows for flexibility, as traders can upgrade from a Starter to a Professional account later, depending on their trading experience and capital.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Standard spread for major pairs |
| CFDs (Gold) | 0.3 | $10 per lot | Competitive pricing on commodities |
| CFDs (Oil) | 0.4 | $10 per lot | Variable pricing based on market conditions |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
When engaging with EACHMARKETS, traders should be aware of additional costs that may apply. Deposit and withdrawal fees may vary based on the method chosen, especially for international transactions. An inactivity fee applies if the account remains dormant for an extended period. There are no specific platform usage fees mentioned; however, overnight interest (swap rates) can apply to positions held beyond the trading day. Additionally, currency conversion fees may be incurred for trades involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does EACHMARKETS Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | 2FA, symbol lookup, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | 2FA, symbol lookup, advanced order types, push notifications, economic calendar | Demo accounts, VPS |
| Web Version | Any device with a web browser | Encryption, market search, one-click trading, price alerts | None |
| Mobile App | iOS, Android | Biometrics, market search, push notifications, technical indicators | None |
The trading platforms offered by EACHMARKETS include MetaTrader 4 and MetaTrader 5, both of which support a wide range of devices, ensuring traders can access their accounts on desktops and mobile devices alike. MT4 is designed for beginners due to its user-friendly interface, while MT5 caters to more advanced traders with additional tools and features like an economic calendar. The web version allows for trading directly from any browser, facilitating easy access without the need for downloads. Mobile apps enhance the trading experience with convenient features, enabling traders to manage their accounts on the go.
Additionally, EACHMARKETS emphasizes secure login methods, ensuring that traders can protect their accounts effectively. The platforms provide real-time alerts and efficient market search tools to assist traders in making informed decisions. Overall, these features collectively support a seamless trading experience across various devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer (SEPA) | 1-3 business days | No platform fee, 0.5% third-party fee | Min 100, Max 15k/day | EUR, GBP |
| e-Wallet (Skrill, Neteller) | Instant | No platform fee, 2% e-wallet charge | Min 50, Max 20k/day | USD, EUR |
| Mobile Payments (GrabPay) | Instant | No platform fee, 1.5% charge | Min 20, Max 5k/day | SGD, MYR |
| Crypto (Bitcoin, Ethereum) | 30 minutes | No platform fee, 1% blockchain fee | Min 0.01 BTC, Max 10 BTC/day | BTC, ETH |
| Local Transfers (SPEI) | Same day | No platform fee, 0.7% third-party fee | Min 200 MXN, Max 50k MXN/day | MXN |
Minimum Deposit
The minimum deposit requirement at EACHMARKETS is $100 for standard accounts. This amount may vary based on the payment method selected and the account type; for instance, e-wallet deposits can be as low as $50. Additionally, regional variations may apply, especially in local currencies.
How to Withdraw
To withdraw funds from your EACHMARKETS account, follow these steps:
- Log in to your EACHMARKETS account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it adheres to the limits.
- Confirm your withdrawal request and review any applicable fees.
- Submit your request and await confirmation of processing.
Customer Support
EACHMARKETS Customer Support Overview
Support Channels
EACHMARKETS provides several contact methods for customer support to assist traders effectively. These include:
- Email: Traders can reach out via multiple email addresses, including markets@eachmarkets.com and support@eachmarkets.com. However, users have reported slow response times and generic replies.
- Live Chat: A live chat feature may be available on the website to provide instant assistance, but its effectiveness has been questioned due to reported delays.
- Telephone: While phone support is offered, traders often experience long wait times and language barriers, which can complicate communication.
- Social Media: EACHMARKETS maintains a presence on various social media platforms, allowing for inquiries through these channels, although responsiveness may vary.
Service Availability
The customer support services at EACHMARKETS are typically available 24/5, covering weekdays. Multilingual support is not guaranteed, and most communications are expected in English, which can be a limitation for non-English speaking clients.
Additional Resources
Unfortunately, EACHMARKETS lacks educational resources such as video tutorials, webinars, or market analysis, which could enhance the overall trading experience and provide necessary support for traders looking to develop their skills.
Overall, while EACHMARKETS offers various support channels, the quality and effectiveness of their customer service have received criticism. Traders may find themselves frustrated by slow response times and unhelpful solutions, raising concerns about the reliability of support when needed.
Frequently Asked Questions
No, EACHMARKETS operates without regulation, raising concerns about its legitimacy and investor protection.
EACHMARKETS offers a maximum leverage of up to 1:500, which can amplify both potential gains and losses.
No, EACHMARKETS lacks educational materials, leaving traders without access to tutorials or guides to enhance their trading knowledge.
EACHMARKETS provides limited deposit options, including bank wire transfers, credit/debit card payments, and select e-wallet services.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.