8888Markets Review Scam Complaint
8888Markets Review – An Introduction
8888Markets is an offshore unregulated, Dublin based forex and CFD Brokerage Company which offers 6 types of accounts on a web based trading platform. Very little detail is known about this broker, which makes it suspicious and doubtful. No details about the ownership and corporate status of the broker are mentioned on its website. Therefore, you must go through the review before investing with this company.
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About the 8888Markets:
8888Markets has a variety of trading instruments to trade with like, 51 forex pairs, along with currencies such as Hong Kong Dollar, Swedish Krone, Norwegian Krone, Danish Krone, Hungarian Forint, Mexican Peso, Israeli Shekel Polish Zloti, Chinese Yuan, Russian Ruble, South African Rand and Singapore dollar. It offers CFDs on spot metals, various indices, stocks, bonds and commodities such as sugar, orange juice, oil, corn, etc. 8888Markets also provides CFDs on crypto currencies such as Bitcoin, Ethereum, Dash, litecoin and Ripple. 8888Markets provide leverage as high as 1:200, which is pretty attractive. The broker offers its clients 6 types of accounts, Opening, Horizon, Heritage, Fortune, Great Fortune, and Infinite Account. But, information regarding the spreads and the minimum trading size is actually not available on their web site. Moreover, 8888Markets does not offer a Demo account to its clients and this is a clear sign of building a scam.
8888Markets does not support the highly productive and used platform MT4; instead the broker provides a web based platform to its clients, which is usually offered for both forex and binary options trade. The platform offered by the broker looks cheaper and does not have the functionalities of MT4, which besides its excellent charting and analytical tools has the option for algorithmic trading via customizable Expert Advisor bots. To open an account with the broker trader need to deposit minimum 1000 Euros, which is way more than what other brokers ask for opening an account with them.
Is 8888Markets legit or scam?
8888Markets is an offshore unregulated forex broker offering uncompetitive spreads on a poor web based trading platform as well as its minimum deposit requirements are excessive compared to other legit brokers. A legit brokerage company has ethical and lawful rules and regulations which 8888Markets completely lacks. Many users have filed complaints against this broker that the broker is hard to contact and doesn’t even reply to emails. Therefore, it is a scam broker and we advise you to not trade with them.