Shinmarkets-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2021-11-10 17:53

Abstract：Established in 2003, Shinmarkets is a brokerage firm headquartered in London, . Its subordinate industry covers industrial, financial investment, as well as foreign exchange, index, stock and other financial derivatives.

General Information

Established in 2003, Shinmarkets is a brokerage firm headquartered in London, . Its subordinate industry covers industrial, financial investment, as well as foreign exchange, index, stock and other financial derivatives.

Market Instruments

Shinmarkets offers more than 200 trading products, including forex currency pairs, precious metals, stocks/index, and CFD products.

Account Types

Three trading accounts are on offer with Shinmarkets to satisfy different traders' trading needs and strategies: Classic, ECN and Pro. opening a most basic account, that is classic account, requires as low as $5, which is encouraging and friendly to most regular traders.

Leverage

The maximum trading leverage offered by Shin Markets is up to 1:400 for forex trading, which is considered high. Since leverage can amplify both profits as well as losses, it is vital for traders to use it, especially inexperienced traders.

Spreads & Commissions

Shinmarkets says it offers extremely compettitive spreads, as low as 0.8 pips on the EUR/USD pairs, which is an attractive offering. The total cost of trading is computed using spreads by many forex brokers in today's market; as a result, brokerages that offer competitive spreads have significant client demand.

Trading Platform Available

There is in fact a downloadable MT5 trading software that is available to users with this brokerage.

Deposit & Withdrawal

In terms of deposit and withdrawal payment methods, Shinmarkets supports traders to fund their accounts through Visa, Mastercard, Swift bank transfer, BPAY, Union Pay, Skill, POLi and Neteller.

Customer Service

The Shinmarkets customer support team can be available through email: info@shinmarkets.com, and telephone: +44 207 3997708.

Trading Hour

Shinmarkets market is open 24 hours a day from Monday to Friday. The market is closed only when it is impossible to conduct transactions on the globally prescribed holidays. Start: Sunday, 21:00 GMT, End: Greenwich Friday 21:00.