Score

1.55 /10
Danger

Compass Markets

Australia

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index0.00

Business Index7.29

Risk Management Index0.00

Software Index4.00

License Index0.00

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 000426810) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Compass Markets · Company summary
Compass MarketsBasic Information
Company NameCompass Markets
Founded2012
HeadquartersAustralia
RegulationsSuspicious clone
Products and ServicesInternational money transfer services for major and minor currencies, one-off transfers, limit orders, currency receipts, hedging capabilities
Customer SupportPhone: +61 2 8039 1400, +61 3 8765 8877, +61 8 6166 3388; Email: INFO@COMPASSMARKETS.COM; Social Media: Twitter, Facebook, Instagram, YouTube

Compass Markets Information

Compass Markets, founded in 2012 in Australia, is a financial services provider specializing in international money transfers. Operating under the regulatory oversight of the Australia Securities & Investment Commission (ASIC), it offers a range of transactional services, including one-off transfers, limit orders, and hedging capabilities, tailored to meet the diverse needs of its clientele. Despite its comprehensive service offerings and customer support via various channels, the company's fee structure varies and is only disclosed upon transaction initiation.

Overview of Compass Markets

Is Compass Markets Legit?

Compass Markets is regulated by the Australia Securities & Investment Commission (ASIC), however the current regulatory status is suspicious clone, with the license number 000426810.

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Pros and Cons

ProsCons
  • Multiple types of transfers available
  • Fees and costs are variable
  • Diverse international transfer services
  • Specific fee details only post-transaction
  • Does not accept check payments

Products and Services

Compass Markets provides international money transfer services for a range of major and minor currencies, such as USD, AUD, GBP, JPY, SGD, PLN, and QAR, among others.

Products and Services

Fees

Compass Markets' fees vary based on transaction size, term of products, business relationship, market rates, and interest rates of the involved currency pair. Specific fee details are disclosed upon entering into a transaction. They do not accept checks, only electronic funds transfers (EFT).

Fees

Customer Support

Compass Markets provides comprehensive customer support through several contact methods. Customers can reach them via multiple telephone numbers based on location: +61 2 8039 1400 (headquarters), +61 3 8765 8877, and +61 8 6166 3388. For email support, customers can contact INFO@COMPASSMARKETS.COM. Additionally, Compass Markets is accessible through various social media channels, including Twitter (twitter.com/CompassMarkets), Facebook (facebook.com/Compassforex), Instagram (instagram.com/compassglobalmarkets), and YouTube (youtube.com/channel/UCbpctfzXCvwY6qWQK7q84Kg), allowing for diverse ways for customers to get support and information.

Customer Support

FAQs

Can I make one-time transfers with Compass Markets?

Yes, Compass Markets offers one-off transfers for single transactions.

Does Compass Markets accept check payments?

No, Compass Markets does not accept check payments, only electronic funds transfers (EFT).

Are there any fees for making transactions with Compass Markets?

The fees for transactions with Compass Markets vary based on several factors, including the transaction size and the specific details of the service used. These fees will be disclosed at the time of the transaction.

How can I reach Compass Markets for support?

You can contact Compass Markets for support via their provided telephone numbers, email address (INFO@COMPASSMARKETS.COM), or through their social media channels.

User Reviews

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User comment

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Comments

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Kraisree
more than one year
I've been using Compass Markets for forex trading, and honestly, the platform is pretty unstable. Can't even see the candles on the daily chart most of the time, and they never seem to fix the issues.
I've been using Compass Markets for forex trading, and honestly, the platform is pretty unstable. Can't even see the candles on the daily chart most of the time, and they never seem to fix the issues.
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2024-02-07 15:50
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1413198440
more than one year
Compass Markets claims on their official website about certain benefits, but in reality, they don't proactively offer any. You have to constantly remind them, and eventually, they provide a gift card with a 30% discount. The customer service engages in wordplay and tries to persuade you to deposit large amounts.
Compass Markets claims on their official website about certain benefits, but in reality, they don't proactively offer any. You have to constantly remind them, and eventually, they provide a gift card with a 30% discount. The customer service engages in wordplay and tries to persuade you to deposit large amounts.
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2023-12-20 23:23
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