Crypto Frontline

Company’s Highlights

EFT Markets is a financial services provider, specialized in offering access to 1,000+ trading instruments, including a wide selection of cryptocurrencies. This is a true ECN Broker, due for its services traders from all around the world can use up to 1:400 leverage and benefit from fixed trading costs.

It has a global outreach, wanting to serve traders from different countries, except for residents in the USA and Japan. What are some of the most important features when trading with EFT Markets and whether this is a reliable brand would be the main focus of this review.

Cryptocurrency Instruments

One of the brand’s main trading features is surely the EFT Markets cryptocurrencies offer. There are over 1,000 instruments available, ranging from many different asset classes, as traders can benefit from tens of different cryptocurrency instruments, including Bitcoin, Ether, Binance Coin, XRP, Litecoin, Ethereum Classic, ZCash, and many others. These instruments are denominated in Tether, Bitcoin, or Ether, which means EFT Markets provides access to liquid crypto instruments.

With EFT Markets, clients have access to flexible leverage conditions, depending on the account type they choose. As trading opportunities show up across a wide range of tokens, it is good to see the broker covers so many different cryptocurrencies.

Trading Platform

When it comes to the trading platform, EFT Markets relies mainly on web-based proprietary software, designed to handle the challenges of volatile financial markets. There are multiple features integrated into the platform, including TradingView charts, News, customer support via live chat, asset alert, and deposit capabilities.

Thanks to its simple user interface, the platform does not require any special skills to manage. Everything is very intuitive and for those that are not familiar with English, they can switch between other 5 different languages.

It seems like EFT Markets wanted to make the platform multi-functional by incorporating so many different features. All in all, we think the platform ranks high in terms of usability, functionality, efficiency, and accuracy.

Alongside the web-based platform, traders also have access to an Android mobile app. Compatible with both smartphones and tablets, it is a great tool to keep track of the markets at any point, from any location. There is no iOS mobile app, yet, but the broker looks forward to implementing it in the near term. The mobile trading capability is an absolute requirement in 2020 and EFT Markets manages to do a good job on this matter.

Account Types

Trading with EFT Markets means clients can choose between 5 different account types:

·         Standard

·         Silver

·         Gold

·         VIP

·         Pro

Each of them comes with a pre-set list of features that include up to 1:400 leverage, daily news, access to a trading academy, weekly market reviews, assistance from an account manager, monthly sessions with certified accountant, weekly 1 on 1 with market analyst, end of year summary with a certified tax specialist, up to 50% discount on commission, managed portfolios, customized education, more competitive spreads, and other.

In terms of account funding methods, EFT Markets accepts credit/debit cards, bank wire, and BPay for fiat deposits. At the same time, the company allows cryptocurrency deposits in Bitcoin, Ether, or Tether.

When it comes to withdrawals, the same methods can be used. However, for enhanced security, EFT Markets processes manually all requests and it requires all clients to pass the KYC verification process, before having the ability to make a withdrawal. For bank wire, the minimum withdrawal amount is 100 USD/EUR/USD, and for all other payment methods, it is 50 USD/EUR/GBP. Most withdrawals are assigned a service fee of 3.5%.

Special Features

EFT Markets stands out against most of the other competitors because it is an ECN broker. That means the broker can provide access to better liquidity conditions, fast execution, via reliable liquidity providers. Also, based on the account type chosen, the company provides access to multiple trading tools and functionalities.

Weekly live stream trading webinar, a monthly session with a certified accountant, 24/6 customer support via email, phone, or live chat, weekly portfolio progress report, access to a comprehensive trading academy, and many others are currently provided.

Summary

Based on our analysis, EFT Markets is certainly an ECN broker that manages to provide access to a unique and reliable trading infrastructure. With proprietary trading software, the broker had made sure to integrate all the features needed to trade effectively in 2020.

Most importantly, it offers access to many different cryptocurrency instruments denominated in USDT, BTC, or ETH, all with tight spreads and enhanced liquidity conditions. There are also multiple funding options, including cryptocurrency, free-market research, customer support assistance 6 days a week, and generous margin levels.