Overview of IST Markets
IST Markets Limited, abbreviated as IST Markets, operates without regulatory oversight in Saint Vincent and the Grenadines. This lack of regulation raises concerns for potential investors, as it implies a higher level of risk associated with engaging with this broker. IST Markets offers various market instruments, including Forex CFDs, Indices CFDs, Commodities CFDs, Stock CFDs, Bonds CFDs, Crypto CFDs, and Futures CFDs. Traders can speculate on currency pairs, global indices, commodities, individual stocks, government bonds, cryptocurrencies, and global futures markets through their platform.
IST Markets provides different account types, including Classic, Premium, VIP, and demo accounts. Each account type offers varying spreads and leverage levels to cater to different trading styles. They also offer Islamic accounts for clients who require swap-free trading options due to religious beliefs. However, it's essential to note that the lack of regulation may impact the security and transparency of trading on this platform.
The broker offers multiple trading platforms, including MetaTrader 5 for various devices and a PAMM service for investors to allocate funds to experienced managers. They have a mobile app for on-the-go trading and provide educational tools such as a Forex glossary, educational webinars, and a risk-free demo account. Customer support is available 24/7 through various contact channels, including phone and email, with physical office locations in different regions. Still, potential users should carefully consider the risks associated with trading on an unregulated platform like IST Markets.
Pros and Cons
In assessing IST Markets, several notable aspects emerge. The platform offers a diverse array of market instruments and caters to various trading styles through multiple account types. It also boasts low spreads and commissions. However, the absence of proper regulation raises concerns for potential investors. Higher minimum deposits for Premium and VIP accounts and the imposition of fees on inactive accounts might deter some traders. Additionally, international bank fees could apply to withdrawals. While the provision of Islamic accounts for interest-free trading and 24/7 customer support are positives, limited company background information, transparency about trading conditions, and details regarding trading platforms and features might leave traders wanting more.
Is IST Markets Legit？
IST Markets lacks proper regulation, which poses a significant risk to potential investors. It is crucial to exercise caution and consider the potential consequences before engaging with this broker.
Market Instruments
Forex CFDs: IST Markets provides access to the Forex market with a wide range of currency pairs, including EUR/USD, GBP/JPY, and USD/JPY. Traders can speculate on currency exchange rates without owning the underlying assets.
Indices CFDs: The platform offers Indices CFDs linked to major global indices such as the S&P 500, FTSE 100, and Nikkei 225. These contracts allow traders to bet on the performance of entire stock market indices.
Commodities CFDs: IST Markets offers commodities CFDs covering products like gold, silver, and crude oil. Traders can speculate on the price movements of these physical commodities without owning them.
Stock CFDs: The platform provides access to a selection of individual stocks from exchanges like ASX, NYSE, and NASDAQ. Popular companies' stocks, such as Apple and Amazon, are available for trading.
Bonds CFDs: IST Markets offers Bonds CFDs issued by various governments, including Japan, Europe, the U.K., and the U.S. Traders can use these contracts to speculate on interest rates and global sentiment.
Crypto CFDs: Traders can engage with popular cryptocurrencies like Bitcoin, Ethereum, and Ripple. Cryptocurrency CFDs allow traders to profit from price movements without owning the digital assets.
Futures CFDs: IST Markets provides Futures CFDs based on global futures markets, including ICE Dollar Index and CBOE VIX Index. These contracts can be traded exclusively on the MetaTrader 4 Platform.
Pros and Cons
Account Types
Classic Account: The Classic Account type offers traders access to MetaTrader 5 with commission-free trading and spreads starting at 1.8 pips. It requires a minimum deposit of $100, provides leverage up to 1:500, and allows for a maximum of 2000 position orders per account. This account is suitable for day traders and scalpers and is suitable for all trading styles.
Premium Account: The Premium Account caters to traders using MetaTrader 5 and features spreads from 1.2 pips. It necessitates a higher initial deposit of $3,000, provides leverage up to 1:400, and allows a maximum of 200 position orders per account. This account type is suitable for EAs and scalpers and is designed for all trading styles.
VIP Account: The VIP Account, also utilizing MetaTrader 5, offers traders the spreads starting at 0.2 pips but comes with a commission of $3.5 per lot roundturn. It requires a substantial starting deposit of $25,000, provides leverage up to 1:200, and allows a maximum of 200 position orders per account. This account type is suitable for discretionary traders and supports all trading styles.
Demo account: IST Markets offers a free demo account to help traders gain confidence and practice trading without any risk. To set up your demo account, you can log in to the IST Market platform or create a new account for free.
Islamic accounts: IST Markets offers Islamic accounts, also known as swap-free accounts, for clients who, due to their religious beliefs, cannot earn or pay interest. These accounts are available on both Raw Spread and Standard account types on MT5. Islamic account holders can trade over 90 instruments with leverage of up to 1:1000 and enjoy spreads as low as 0.0 pips. These accounts do not incur additional costs in place of swaps, making them compatible with Islamic finance principles.
Pros and Cons
How to Open an Account
To open an account with IST Markets, follow these steps:
Click on the “Join Now” button on their website.
Fill in your personal information, including your First Name, Last Name, Email, Country of residence, and Mobile Number.
Create a secure password and confirm it by entering it again.
Review the provided information for accuracy.
Click the “Create Account” button to complete the registration process.
You may need to verify your email address or mobile number as part of the account creation process, so be sure to check your email or follow any additional instructions provided.
Leverage
IST Markets offers varying leverage levels depending on the account type. The Classic Account provides leverage up to 1:500, the Premium Account offers leverage up to 1:400, and the VIP Account provides leverage up to 1:200. Additionally, Islamic accounts are available with leverage of up to 1:1000.
Spreads & Commissions
IST Markets offers various account types with different spreads and commissions. The Classic Account has spreads starting at 1.8 pips and no commission. The Premium Account features spreads from 1.2 pips and doesn't charge a commission. The VIP Account has the lowest spreads, starting at 0.2 pips, but comes with a $3.5 per lot roundturn commission. Islamic accounts have spreads as low as 0.0 pips and no commission, catering to clients with religious restrictions on interest-based transactions.
Fees
IST Markets imposes fees on inactive accounts, charging them 10% of the account balance each month. The minimum fee is €25 or the equivalent in the trading account currency, and the maximum fee is €49.90 until the account balance reaches €0. These fees are applied to cover the maintenance and administration expenses of inactive accounts.
Deposit & Withdrawal
IST Markets handles deposits and withdrawals with various methods. Withdrawal requests before 12:00 AEST/AEDT process on the same day; after, they process the next business day. Credit/Debit Card withdrawals are free but may take 3-10 business days. IST Markets doesn't charge extra fees, but international banks may apply intermediary fees. International Bank Wire Transfers can take up to 14 days. To withdraw more than deposited via Verified by Visa/MasterCard Secure Credit/Debit Card, use a prior method or bank wire transfer. Methods like Skrill Bitcoin, Rapidpay, and Fasapay may incur extra charges and utilize bank wire transfers. Safecharge withdrawals revert the deposited amount; Paypal/Neteller/Skrill withdrawals must match the deposit source. Expired cards may need re-upload, and unused cards may require a small deposit. Documentation may be requested for funds release. Poli/Bpay accounts have free withdrawals for domestic Australian bank accounts. Third-party payments are not processed, and withdrawals must go to the account holder's name. Payments to Joint Bank Accounts/Credit Cards are accepted with account holder inclusion.
Pros and Cons
Trading Platforms
MetaTrader 5 Trading Platform: IST Markets provides the MT5 platform for PC, Mac, Android, laptops, and the web. It offers 38+ preinstalled technical indicators, 44 analytical charting tools, 3 chart types, 21 timeframes, additional pending order types, detachable charts, 1-click trading, trailing stop, and more. The platform is available for Windows and Mac, with 'Netting' as the default account setting.
MetaTrader 5 Mobile Apps: IST Markets offers MT5 Mobile for iOS and Android, providing 3 chart types with 9 timeframes, 30 technical indicators, customizable chart layout, market news feed, and custom push notifications. It allows traders to manage their accounts and trade on the go.
MT5 WebTrader Platform: IST Markets offers a cloud-based MetaQuotes WebTrader platform, accessible from any web browser on Windows, MacOS, or Linux. It provides access to 30 indicators, 24 technical analysis tools, 9 timeframes, and one-click trading, similar to the desktop version of MT5.
PAMM (Percent Allocation Management Module): IST Markets offers a PAMM service where investors can transfer funds to experienced PAMM managers. Managers earn profits alongside investors, providing additional protection for their capital. Investors can choose from multiple PAMM managers and diversify their portfolios.
IST Markets Mobile App: The IST Markets Mobile App is user-friendly and allows traders to place and manage trades on the go. It offers real-time quotes, interactive charts, account management, deposit/withdrawal functionalities, KYC verification, and 24/7 cryptocurrency pairs trading, including popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple. The app is available on both the App Store and Play Store.
Pros and Cons
Educational Tools
IST Markets provides a range of educational tools to enhance traders' knowledge and skills in Forex and CFD trading. These resources include Forex glossary, Forex basics lessons, and education series webinars. Whether traders are beginners or experienced, these materials cater to various skill levels. Additionally, IST Markets offers a risk-free €10,000 demo account, allowing traders to practice and explore their trading strategies. The economic calendar is another valuable tool that helps traders stay informed about market-moving events. These educational resources aim to empower traders with the knowledge needed for successful trading.
Customer Support
IST Markets provides 24/7 customer support through various contact channels. You can reach them at +971 4529 4233 or via email at support@istmarkets.com. They have physical office locations in Mauritius, Saint Vincent & The Grenadines, and Dubai, United Arab Emirates, offering multiple points of contact. Additionally, IST Markets offers a contact form on their website for inquiries, promising a response within 24 hours.
Conclusion
In conclusion, IST Markets operates without proper regulation, which presents a notable risk to potential investors. Traders have access to a variety of market instruments, including Forex, Indices, Commodities, Stocks, Bonds, Cryptocurrencies, and Futures, but should exercise caution due to the lack of regulatory oversight. The broker offers different account types, each with its own set of features, but traders should carefully consider their options. Leverage levels vary depending on the account type, and spreads and commissions also differ across account types. IST Markets charges fees for inactive accounts, and deposit and withdrawal methods come with their own processing times and potential fees. The broker offers the MetaTrader 5 platform for trading and provides educational tools to support traders' knowledge and skills. Customer support is available 24/7 through various channels. It's crucial for potential clients to weigh the risks and benefits carefully before engaging with IST Markets.
FAQs
Q: Is IST Markets a regulated company？
A: No, IST Markets is not regulated.
Q: What financial instruments can I trade on IST Markets？
A: IST Markets offers Forex CFDs, Indices CFDs, Commodities CFDs, Stock CFDs, Bonds CFDs, Crypto CFDs, and Futures CFDs.
Q: What are the account types available on IST Markets？
A: IST Markets offers Classic, Premium, VIP, Demo, and Islamic (swap-free) accounts.
Q: How do I open an account with IST Markets？
A: To open an account, click “Join Now” on their website, fill in your information, create a password, review the details, and click “Create Account.”
Q: What trading platforms are available on IST Markets？
A: IST Markets provides MetaTrader 5 for PC, Mac, Android, and web, as well as a PAMM service and a mobile app for trading on the go.
2023-10-23 12:22
2023-10-13 17:06
