Overview of Arakkal Markets
Arakkal Markets, established in 2020, facilitates CFD trading across multiple assets including metals, oil, and indices. Their Gold Account mandates a minimum deposit of $1,000, granting traders access to the MT5 platform with leverage of up to 1:300.
Despite offering essential educational tools such as an economic calendar and customer support via phone and email, it's crucial to weigh the absence of regulatory oversight carefully before selecting Arakkal Markets.
Pros and Cons
Pros
Diverse CFD Offerings: Arakkal Markets satisfies traders interested in a variety of CFD instruments, including metals (Gold, Silver, Platinum, Palladium), oil (Brent, Crude), and major global indices (German30, Stoxx50, CAC40, FTSE100, WallStreet30, US Tech 100, SPX500). This allows you to diversify your portfolio and potentially capitalize on opportunities across different asset classes.
MetaTrader 5 Platform: Arakkal Markets utilizes the MetaTrader 5 (MT5) platform, a popular choice among forex and CFD traders. MT5 is known for its user-friendly interface, extensive charting capabilities, and a wide range of technical indicators. It also offers features like one-click trading for ease of use and the ability to customize order parameters to suit your trading style.
High Leverage: Arakkal Markets offers leverage of up to 1:300, which means you can control a position worth up to 300 times your deposit. This can be appealing to traders who want to amplify their potential returns. However, it's crucial to understand that higher leverage also magnifies potential losses.
Accessible Customer Support: Arakkal Markets provides customer support through multiple channels, including phone and email. This allows you to reach out for assistance with any questions or concerns you have, potentially receiving immediate help via phone or submitting detailed inquiries through email for non-urgent matters.
Competitive Spreads: Arakkal Markets charges a spread of 0.50, which represents the difference between the buy and sell price of an asset. This spread is generally considered competitive in the CFD trading landscape.
Cons
Unregulated Platform: A major drawback of Arakkal Markets is the lack of regulation by a reputable financial authority. Regulation helps ensure brokers adhere to industry standards and provides a level of recourse for traders in case of disputes or malpractice. Without regulatory oversight, there's an increased element of risk involved in trading with Arakkal Markets.
High Minimum Deposit: The minimum deposit required to open an Arakkal Markets account is $1,000, which might be a hurdle for new traders starting with smaller capital.
Potential for Magnified Losses: As mentioned earlier, the high leverage offered by Arakkal Markets (up to 1:300) can significantly amplify potential losses. This can lead to rapid depletion of your account if trades go against you. It's essential to practice proper risk management strategies and only invest capital you can afford to lose when considering such high leverage.
Limited Educational Resources: Arakkal Markets currently only offer an economic calendar as part of their educational resources. While this tool can be helpful for staying informed about upcoming economic events that might impact markets, a more comprehensive suite of educational resources, such as webinars, tutorials, or market analysis, would be beneficial for traders, especially beginners.
Commission Fees: On top of the spread, Arakkal Markets charges a commission fee of $5 per lot traded. These additional costs can eat into your profits, so it's important to factor them into your trading calculations.
Regulatory Status
Arakkal Markets does not possess any regulated licenses. Therefore, it's important to note that without regulated licenses, the company may not be subject to oversight or supervision by financial regulatory authorities.
It's advisable for traders to prioritize platforms and brokers that are regulated by reputable financial authorities, as regulation typically ensures adherence to strict standards and provides recourse in case of disputes or malpractice.
Market Instruments
Arakkal Markets offers over 800 CFDs, and diversify your portfolio with precious metals.
Their CFDs reflect the performance of underlying index futures, with products including metals like Gold and Silver, oil such as Brent and Crude, and indices like German30, Stoxx50, CAC40, FTSE100, WallStreet30, US Tech 100, and SPX500. With Arakkal Markets, traders can buy if they anticipate market growth or sell if they expect a decline, opening positions with a margin as low as USD 400 per lot. Leveraged products mean traders don't need to pay the full position value upfront. Additionally, there are no financing charges for open positions at the end of the trading session, and index CFDs incur no commission charges, with various products boasting lower spreads.
In the metals category, Arakkal Markets provides opportunities to trade precious metal pairs, including Gold, Silver, Platinum, and Palladium, with competitive and flexible terms suitable for both investors and hedgers. This enables traders to diversify their portfolios, react to global events, or hedge against economic uncertainty, with Gold often viewed as a safe haven and Silver as a measure of economic growth.
Account Types
Arakkal Markets offers an account type called the Gold Account.
This account requires a minimum deposit of $1,000 to get started. Trades incur a spread of 0.50, which is the difference between the buy and sell price offered by the broker. The Gold Account uses the MT5 trading platform, a popular platform among forex traders. It also charges a commission of $5 per lot traded.
Additionally, there are swap charges applicable, which are fees incurred for holding positions overnight. Finally, the Gold Account has a stop out level of 30%. This means if your account equity falls below 30% of the margin used to open your positions, Arakkal Markets will automatically close your positions to prevent further losses.
How to Open an Account？
Arakkal Markets allows you to open an account and start trading in just 3 steps:
Register:
To register for an Arakkal Markets account, visit their websit (https://www.arakkalmarkets.com/) and locate the “Open Account” button. Fill out the form with your name, email, password (twice), gender, address, and birthdate. Don't forget to review and agree to their terms and conditions before clicking “Sign up” to finalize your registration.
Verify:
To complete your Arakkal Markets account registration, after registering you should look out for a verification email and click on the link provided to verify your email address.
Fund & Trade:
After verifying your account and logging in, you can fund your Arakkal Markets account by navigating to the deposit section, choosing your preferred method (like bank transfer or credit card), following the on-screen instructions, and ensuring you meet any minimum deposit requirements. Then, you're all set to explore CFD products and start trading!
Leverage
Arakkal Markets offers maximum leverage of up to 1:300 on your trades. This means you can control a position worth up to 300 times your deposit. For example, with a $1,000 deposit, you could control a position worth up to $300,000. Be aware that higher leverage also amplifies potential losses.
Spreads & Commissions
Arakkal Markets charges a spread of 0.50, which represents the difference between the buy and sell price of an asset. This means you'll pay a bit more than the market price when you enter a trade and receive a bit less than the market price when you exit.
Additionally, they have a commission fee of $5 per lot traded.
Trading Platform
Arakkal Markets utilize the MetaTrader 5 (MT5) platform for both desktop (Windows) and mobile (iOS and Android) trading. This platform offers several advantages including one-click trading for ease of use, the ability to view historical data and charts, and real-time trade monitoring. It also boasts customizable features like editable order parameters and a variety of technical indicators.
Deposit & Withdrawal
Arakkal Markets accepts a variety of deposit methods to fund your trading account. Common methods like bank transfer, credit card, and e-wallets are a good possibility. There's a minimum deposit requirement of $1,000.
When it comes to fees, Arakkal Markets uses a spread system, which is a small difference between the buy and sell price you'll see for an asset. They charge 0.50 spread on each trade. Additionally, there's a $5 commission fee per lot traded, so factor both costs into your trading strategy.
Customer Support
Arakkal Markets provides accessible customer support through multiple channels. Traders can reach out for assistance via phone by dialing +971 4568 1991, ensuring direct communication with a representative for immediate queries or concerns.
Additionally, support is available through email at support@arakkalmarkets.com, offering a convenient platform for detailed inquiries or assistance outside of regular business hours.
Educational Resources
Arakkal Markets offers an economic calendar as part of their educational resources. An economic calendar is a tool that lists upcoming economic events that can potentially impact financial markets. This can be helpful for traders to stay informed about events.
Conclusion
Arakkal Markets offers a tempting combination of diverse CFD products, a popular MT5 platform, and high leverage for potentially amplified returns. However, the lack of regulation raises a significant red flag, and the high minimum deposit and $5 per trade commission can be barriers to entry. Carefully weigh the advantages against the considerable risks before considering Arakkal Markets.
FAQs
Question: What trading platform does Arakkal Markets use？
Answer: Arakkal Markets utilizes the MetaTrader 5 (MT5) platform, a popular choice among CFD traders.
Question: How much do I need to start trading with Arakkal Markets？
Answer: Arakkal Markets requires a minimum deposit of $1,000 to open an account.
Question: Are there any fees associated with trading on Arakkal Markets？
Answer: Yes, there are a couple of fees to consider. Arakkal Markets charges a spread of 0.50 on trades, which is the difference between the buy and sell price. Additionally, they have a commission fee of $5 per lot traded.
QuestionQ: Does Arakkal Markets offer educational resources for new traders？
Answer: Arakkal Markets offer a limited selection of educational resources. They do provide an economic calendar.
Question: Is Arakkal Markets a safe and secure platform to trade with？
Answer: Arakkal Markets does not currently hold any regulatory licenses from reputable financial authorities.
2022-12-16 11:09
2022-12-06 11:00
