Sheer Markets

What is Sheer Markets？

Sheer Markets (Cyprus) Limited, established in 2019 and based in Cyprus, is a regulated brokerage firm under the supervision of the Cyprus Securities and Exchange Commission (CYSEC), with a business focus on CFDs.

Pros & Cons

Pros:

• Regulated by CYSEC: Sheer Markets is regulated by the Cyprus Securities and Exchange Commission (CYSEC), so it needs to follow the regulatory standards and apply investor protection.

• MT5 Supported: The platform supports MetaTrader 5 (MT5), so users can access advanced trading tools, analytical resources, and customizable features.

• Demo Account Available: Sheer Markets offers a demo account option, allowing traders to practice trading strategies and explore the platform's functionalities without risking real capital.

• Competitive Spread: Sheer Markets provides competitive spreads, raising cost-effectiveness for traders and potentially maximizing profit opportunities.

Cons:

• Commission Charged: Sheer Markets charges commissions on trades, which may increase trading costs for traders compared to brokers that offer commission-free trading.

Is Sheer Markets Legit or a Scam？

• Regulatory Sight: Sheer Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC). The company holds a Market Making (MM) license, with license number 395/20.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures: Sheer Markets implements Negative Balance Protection as a security measure to safeguard its clients from incurring losses beyond their initial investment, which means clients cannot lose more than the funds they have deposited into their trading accounts, even in the event of extreme market volatility or adverse price movements.

Market Instruments

Sheer Markets offers a diverse range of trading instruments, including:

1. Streaming Cash NDF CFDs: Provides access to Non-Deliverable Forward (NDF) contracts for trading in various currency pairs.

2. FX & EMFX CFDs: Allows traders to access the foreign exchange (FX) market and explore emerging market currencies (EMFX).

3. Crypto CFDs: Enables trading in a variety of cryptocurrencies, offering opportunities in the highly volatile and lucrative crypto market.

4. Equity, Indices & Commodity CFDs: Diversifies investment portfolios with asset classes such as stocks, indices, and commodities like crude oil.

Account Types

Sheer Markets provides customers with 4 account types: Sheer Classic, Sheer Classic Plus, Sheer Prime, and Sheer Prime Plus. For all account types, the account base currencies are EUR/USD. Only plus accounts enjoy Free VPS Hosting and One-to-One Educator. Market Analysis and Commentary is available for all account types. It also supports demo accounts, so users can practice trading without risks. The minimum deposit requirements for the four account types are listed below.

Leverage

Sheer Markets offers varying leverage options based on the client's classification as either a retail client or a professional client. For professional clients, the maximum leverage available is 1:100, providing greater flexibility and potential for higher returns. In contrast, retail clients are offered a maximum leverage of 1:30, reflecting a more conservative approach to risk management. Leverage ratios are different between asset classes and financial instruments. The leverage options provided by Sheer Markets are listed below.

Spreads & Commissions

The spread structure provided by Sheer Markets is quite clear, which is very competitive, especially for Prime accounts - the spread starts from as low as 0.0 pips. And for a classic account, the spread will start from 1.2 pips. Since the average spread provided by brokers is around 1.5 pips, the spreads provided by Sheer Markets will be very advantageous and will save users a lot of money. You can check the table below.

Sheer Markets also charges commissions which will vary on different market instruments. For example, the commission charged on Forex CFDs is from $4 per lot per side, and for NDF CFDs that will be from $5. To get detailed information on commission, users can check the “fees section” on their official website: https://www.sheermarkets.com/trading-conditions/fees/.

Trading Platform

Sheer Markets provides the MetaTrader 5 (MT5) trading platform with the following features.

1. Advanced charting tools: Analyze price movements with a variety of technical indicators, chart types, and drawing tools.

2. Market analysis: Access real-time market news, economic calendars, and analysis tools to make informed trading decisions.

3. Order execution: Execute trades quickly and efficiently with one-click trading and multiple order types, including market orders, limit orders, and stop orders.

4. Algorithmic trading: Develop, test, and deploy automated trading strategies using the built-in Expert Advisors (EAs) and MQL5 scripting language.

5. Multi-asset trading: Trade a diverse range of financial instruments, including forex, stocks, commodities, and cryptocurrencies, all from a single platform.

6. Mobile trading: Stay connected to the markets and manage your trades on the go with the MT5 mobile app, available for both iOS and Android devices.

Deposit & Withdrawal

Sheer Markets does not accept payments from third parties. Users need to make sure that all deposits into their trading account come from a bank account in their names. Sheer Markets does not charge any additional fees for deposits or withdrawals. Sheer Markets supports Bank Wire Transfers the processing time will take 2-5 Working Days.

Customer Support

Sheer Markets offers a certain range of customer support through various channels. Clients can reach out to the support team via telephone at +357 25861400 or through email at support@sheermarkets.com. Additionally, there is a contact form available on their website for inquiries and assistance. The company's physical address is located at 331, 28th October Avenue, Lido House Block 2, Unit 365, 3106, Limassol, Cyprus, providing clients with the option for in-person support if needed.

Conclusion

As a broker, Sheer Markets supports leveraged trading, the MT5 trading platform, and demo accounts. It is currently regulated by the CYSEC. But their minimum deposit requirement of 200 USD may be too high for beginners. Anyway, be cautious while trading with any brokers.

Frequently Asked Questions (FAQs)

Question: Is there a commission charged？

Answer: Yes. A commission will be charged and the amount will depend on trading different market instruments.

Question: Does Sheer Markets charge transaction fees？

Answer: No.

Question: Can I deposit using PayPal？

Answer: No. Sheer Markets does not accept third-party payments.

Question: Does Sheer Markets support MT4/5？

Answer: Yes, it supports the MT5 trading platform.

Question: Can I use a demo account to practice trading？

Answer: Yes.

Question: Is Sheer Markets regulated or not？

Answer: Yes, it is regulated by the CYSEC.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.