CHMarkets offers three types of live trading accounts: Mini, Standard and VIP. The main differences among them are in the minimum deposit and the spreads, with the Standard account spreads being rather wide. The spreads for the VIP accounts are tight, which suggests there is also a commission, but we could not find any information on this.
There is also a free demo account.
The broker offers a managed account, which appears to be an investment account managed by the broker on behalf of the investor.
The company. Security of funds.
Company Country Regulation
Mode 8 Limited SVG None
CHMarkets is a brand of the company Mode 8 Limited, registered in the offshore zone Saint Vincent and the Grenadines.
It says it is licensed by the FSPC as a Financial Service Provider and is authorized to provide the following services: Dealing, making a market or giving advice in relation to foreign exchange contracts and is further registered with the FSPL for dispute resolution services.
Our check revealed that the FSPC is nothing more than a registry of the companies registered in the offshore zones Cook Islands, Marshall Islands, Mauritius, Saint Vincent and the Grenadines and the Seychelles.
Despite the nice sounding credentials, in essence CHMarkets is an unregulated offshore broker and should be avoided. Instead, we advise to use brokers regulated by reputable supervisors like UK’s FCA or the Australian regulator.
CHMarkets offers trading on MetaTrader 4 (MT4), which is the standard option for most forex brokers across the world. It is popular and most traders are familiar with it and is the most obvious choice for the brokers. The MT4 has many functionalities and options and is stable and user friendly.
It is interesting, though, whether MT4 will retain its everlasting popularity after its developer MetaQuotes said it is stopping the support for it and is concentrating its efforts on the MetaTrader 5.
Methods of payment
CHMarkets accepts payments through bank transfers and debit and credit cars. Those are the most basic and standard funding options offered by the forex brokers across the world. The more sophisticated ones include electronic payment systems like Skrill, Neteller and PayPal.
CHMarkets Review Conclusion
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