Marketrip

General Information & Regulation

Marketrip was set up in 2019 in Saint Vincent and Grenadines to provide online platforms for forex and CFD trading. There is no regulatory details displayed on the Marketrip website, that is to say, an regulated broker. Traders will be advised not to trade with an unregulated broker as they cannot gurantee fund safety.

Market Instruments

Marketrip offers investors CFD products on currency pairs, indices, commodities, precious metals, stocks, and many cryptocurrencies.

Minimum Deposit

Marketrip offers investors six types of trading accounts: Basic (minimum deposit of $250), Silver (minimum deposit of $5,000), Gold (minimum deposit of $15,000), Platinum (minimum deposit of $50,000), Diamond (minimum deposit of $100,000), and VIP (minimum deposit of 250,000 USD).

Marketrip Leverage

In terms of trading leverage, leverage level available differs depending on each trading account. The maximum leverage offered by Marketrip is for the Diamond and VIP accounts, reaching up to 1:400. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

The Marketrip platform does not show specific spreads for trading instruments, but after testing in a demo account, we learned that the fixed spread for EURUSD is 3 pips, which is much higher than the industry standard. Besides, Marketrip applies several salty fees, such as a $100/month fee for inactive accounts for 45 consecutive days and an additional $100 for using automated trading software without reaching a certain volume of trades.

Trading Platform

Marketrip claims to offer traders an MT4 trading platform, but after logging into it, it turns out to be a web-based trading platform only. This is just a false advertisement.

Deposit & Withdrawal

Marketrip supports traders to deposit and withdraw funds to and from their investment accounts via credit/debit cards.

Marketrip Pros & Cons

Marketrip Advantages Include:

1. Six trading accounts available

2. Free educational resources

Marketrip Disadvantages Include:

1. No regulation & and no physical address

2. High minimum deposit requirements

3. Saltyfees, including inactive account fees & fees for using automated trading software

4. False claims of MT4 trading platform

5. Excessively high spreads

6. Fewer options to deposit and withdraw funds