CK Markets Review Scam Complaint
CK Markets offers trading in forex and CFDs. The broker CK Markets is an offshore broker based in St Vincent and the Grenadines and is not regulated from a trustworthy and known financial regulator. The broker offers various financial assets for trading but has no license for providing these services. CK Markets is owned and operated by CK Markets Ltd a company that too is based in St Vincent and the Grenadines. The place SVG is not a place with strict regulations for brokers therefore many shady and scam broker choose this place to get registered.
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About the CK Markets:
CK Markets is an unregulated broker that offers more than 60 forex pairs and some of them with exotic currencies like Russian Rubble, South African Rand, Honk Kong Dollar, Israeli Shekel, Chinese Yuan, Swedish Krona, Danish Krone, Norwegian Krone, Czech Krona, Hungarian Forint, Mexican Peso, Singapore Dollar, Turkish Lira, Polish Zloty and Thai Baht. CK Markets provides a leverage of up to 1:500 which is basically not that bad but high leverage ratio attracts more risk and that is the reason why European Securities Market Authority has capped the leverage ratio at 1:300.
The positive aspect about CK Markets is that you can start trading with them with just $100. The broker provides the option of demo account to its clients and through that it could be seen that the broker offers a fluctuated spread of 1.5- 1.7 pips on EUR/USD. However, the broker claims to offer spreads starting form 0.5 pips and up to 1.5. CK Markets accepts payments from every mode, even Neteller and Skrill which is among the most popular e-wallets in the market. Other payment methods include major credit or debit cards like VISA and MasterCard and bank wire transfer. The broker provides Meta Trader 4 platform for trading to its clients which is a good sign as this trading platform is the most preferred one by traders.
Is CK Markets legit or scam?
CK Markets is an offshore unregulated broker which means it has no license to provide financial services in the market. The broker claims to be registered with the local Financial Services Authority, however the fact is FSA of St Vincent and the Grenadines does not provide regulation for forex and CFD brokers. Therefore, the broker is no less than a scam and it would be advised choose a regulated broker for trading.