Switch MARKETS Forex BROKER REVIEW 2023

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Switch markets opened its doors in 2019, making this broker relatively young compared to its competitors. Since its inception Switch markets have put significant efforts into creating a transparent and efficient trading environment for all traders.   The broker focuses on maintaining and improving their trade execution speeds ( execution speed averaging 70-80 milli-seconds) and tight spreads from as low as 0,0 pips.

Switch Markets is an Australian-based, decentralized forex broker meaning they do not have any physical offices. This can be an obstacle in the event of an unforeseen need for their clients to visit a physical office. Every broker has its weaknesses and we believe this is one of Switch Markets' pitfalls. Nevertheless, the broker has very proactive support agents,  who are always willing and ready to assist with queries or problems their clients face. This was made evident to us by their quick responsive support agents and their high Trust pilot rating is a testament to this.  

 Switch Markets doesn’t have its own investment programs yet. The broker's development policy implies the development of active trading technologies and the expansion of the product line for active traders. Perhaps in the future, the company will add investment programs, but for now, traders have access only to the external service MQL5. 

 Switch Markets is a fast-evolving broker that is trusted by traders worldwide. The firm offers a wide range of assets, including forex, indices, CFD shares, and commodities. Their spreads and commission charges vary depending on the account opened. Standard accounts are commission-free, while pro accounts have the lowest spreads. The big plus, for Switch Markets, is that all Switch Markets live account holders are offered a free virtual private server (VPS) – the best system for automated trading using algorithms and robots. Trades are executed at a 1 millisecond latency time, making the likelihood of slippage low – a crucial requirement for automated trading.   Social trading is also available, allowing you to copy the positions of successful traders so that you can replicate their success. This is provided through the MetaTrader 4 platform. 

-Minimum Deposit$50

-Deposit Methods: Bank Transfer, VISA, Mastercard, Crypto payments, and  Payment Agents 

-Withdrawal Processing Time:  maximum up to 3 days

Crypto Deposits & Withdrawals: Yes

 Switch Markets is regulated by leading regulatory bodies globally. Switch Markets International PTE Ltd (202040285G) is an authorized representative of Royal ETP LLC. 

Switch Markets is a trustworthy broker, given its track record and independent reviews. The broker aims to be transparent although, in our honest opinion, we do not think there is full transparency from the broker when it comes to its regulation. We believe this type of information should be easily accessible to its clients and potential clients.

We know that Switch Markets is regulated by SVG and ASIC, but this information cannot be found on their site and full details need to be paid for, from this link:https://connectonline.asic.gov.au/ .   This deviated from the brokers' goal of full transparency with their clients. 

This is the information we have been exposed to thus far. 

Name: SWITCH MARKETS PTY LTD 

ACN: 640 033 727 

ABN: 73 640 033 727 

Registration Date: 30/03/2020

 Next Review Date: 30/03/2023 

Status: Registered 

Type: Australian Proprietary Company, Limited By Shares 

Locality of Registered Office: BROOKVALE NSW 2100 

Regulator: Australian Securities & Investments Commission 

 Switch Markets is a relatively young broker, which entered the OTC market in 2019. In addition to standard trading products, the company is developing unique technical trading solutions. The company already has its proprietary risk management system, author's trading advisors, and auxiliary calculators. All this is available to every client of Switch Markets. 

 Switch Markets is a broker for traders who are just getting acquainted with Forex and are focused on relatively active trading in the future.  When you first get acquainted with the Switch Markets broker, you get the classic impression of a "middle-of-the-road broker". Standard trading terms, a standard set of instruments, some interesting features, but nothing that’s unique. The developers focus on the ease of trading and accessibility. And in some respects they are right to so. 

 Switch Markets is a classic STP broker, focused primarily on novice traders and traders with an average level of knowledge. The company offers 2 types of accounts such as standard and professional. Spread on the standard account is from 1.4 pips, and on the Pro account it is from 0.0 points, but there is a fixed commission per lot. There are withdrawal fees. The tariff policy is relatively tough for those who do not expect to engage in active trading. But for traders who are ready for long-term cooperation, there are quite comfortable terms. 

 Useful features of Switch Markets are a real-time market heat map, auxiliary calculators, free in-house developed scripts, and advisors. For new clients, there is a bonus of up to $5,000 when depositing $100.  My general conclusion is that you should get acquainted with this broker's offers and possibilities, and test them on a demo account in MT4.