555Markets-Overview of Minimum Deposit, Leverage, Spreads

General Information

555Markets is an offshore forex broker, allegedly offering its clients access to multiple financial markets, such as Foreign Exchange, Nobel Metal, Futures, Cryptocurrency through the leading MT5 trading platform, with leverage up to 1:400.

555Markets is a registered brand of Trinity Capital LL and 555Marketss website is marketed and operated by Trinity Capital LLC and is located at First Floor, First St Vincent Banking Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

555Markets says it does not establish accounts to residents of certain jurisdictions including the USA, EU and the EEA.

As far as we can tell, 555Markets is not governed by any regulatory authorities, thus that bit of data is settled. As a result, its regulatory status on WikiFX is classified as “No License” and it only manages a score of 1.36 out of 10 overall. Don't be oblivious to the potential danger.

Market Instruments

555Markets boasts that it offers more than 250 trading instruments. Different types of trading assets including Foreign Exchange, Stocks, Commodities, Bonds, Indices are all available through this brokerage platform.

Account Types

555Markets offers two types of trading accounts, a demo account and a live account, both with 24/5 customer support available. A demo account allows beginners to get a feel of this platform without risking their real money.

It's unclear what the requirement amount is for opening a real-money account.

Leverage

When it comes to trading leverage, allows traders to use leverage of up to 1:500, which is much above the levels considered appropriate by the vast majority of regulators. As an offshore unregulated forex broker, 555Markets is just try to use high leverage to attract clients.

Please bear in mind that leverage can amplify gains as well losses.

Spreads & Commissions

555Markets boasts that it does not charge any commission or trading fees on transaction, only spreads on particular instruments charged.

Trading Platform

555Markets gives its clients two choices of trading platforms, Mobile Trading, Webtrader.

Mobile: a trading platform fully synchronized with investors Sirix account

Webtrader: a user-friendly web platform, which synchronized all trades with investors Sirix account.

Deposit & Withdrawal

The minimum deposit amount to open an account with 555Markets is $100/€100/£100. And limited payment methods supported by this broker for clients to make a deposit and withdrawal include Credit/Debit Cards (VISA, MasterCard), Wire Transfer. The times it takes for funds to appear in the investors account depends on the payment options:

• Credit/Debit Cards take approximately 24 hours to process (from time of receipt)

• Deposit via Wire Transfer take approximately 1-2 business days to process (from time of receipt)

Concerning withdrawal, you can either log in to your account to make a withdrawal request, or scan and email the request form to: support@555markets.com.

Customer Support

555Markets relies heavily on its Frequently Asked Questions section and chatbot to assist customers. The multilingual support staff is available via phone and email whenever the markets are open.

Telephone: +61 283 116 672

Email: support@555markets.com

Registered Company Address: First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines

Risk Warning

There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors.

Please keep in mind that the data presented in this article is meant to serve as a guideline only.