Evolve Markets Review
Evolve Markets has a vast range of financial instruments, MetaTrader, and cryptocurrency deposit trading accounts which make it a popular option for traders who want to use cryptocurrencies as their primary transaction method.
Evolve Markets is an online CFD broker that allows traders to deposit, withdraw and trade in cryptocurrencies. The broker was founded in 2016, and its headquarters are located in St. Vincent and the Grenadines. Evolve Markets offer CFDs of popular asset classes such as cryptocurrencies, forex, indices, commodities, and stocks to trade with three trading platforms. The broker offers popular trading platforms from MetaQuotes and a web trader at very low trading fees. However, the broker doesn’t offer many educational and research resources or tools. They are also not regulated which may deter some traders. If you would prefer to trade with a regulated broker, please feel free to explore our broker ratings for some alternatives.
Evolve Markets is an option for those who want to trade anonymously with cryptocurrencies. The broker offers trading via the user-friendly MetaTrader, and clients can open an account in no time with very little information required. Clients can choose a cryptocurrency as their base currency. In addition, the broker offers trading at very competitive costs. On the other hand, Evolve Markets is an offshore and unregulated broker. The broker does not allow any other payment option except cryptocurrencies. In addition, the broker has a very limited product portfolio, only one account type, and limited educational resources.
Evolve Markets offers over 100 financial instruments over five asset classes. You can choose from CFDs of cryptocurrencies, forex, commodities, indices, and stocks to trade. Although the broker has a limited product portfolio compared to some other brokers, the trading conditions are very competitive. The broker lags in offering options, bonds, and ETFs. If you are looking to trade those along with cryptos, you might want to consider AvaTrade instead.
Evolve Markets Instruments Summary
| Instruments | Evolve Markets |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
Evolve Markets offers trading with very low raw spreads on STP and ECN accounts with well-defined and low commission fees. The broker’s trading fees for different asset classes are as follows:
| Asset Class | Trading fees |
|---|---|
| Cryptocurrencies | 0.075% |
| Forex | 0.0035% |
| Indices | 0.0035% |
| Commodities | 0.0035% |
| Stocks | 0.0035% |
Summarised trading costs of the broker are as follow:
| Fee | STP Account |
|---|---|
| Commission (per standard lot per side) | 0.0035% |
| Spreads from | 0.0 |
Deposit and Withdrawal Fees
Evolve Markets is ahead of its competitors regarding deposit and withdrawal fees, as there is no fee charged. However, a transaction fee might be applied by the crypto wallet and there can be signficant blockchain fees.
Inactivity Fees
Evolve Markets does not charge inactivity fees from its dormant account where any trading activity has not been conducted in a while.
Evolve Markets offers a variety of trading platforms to its clients of all levels. Beginner traders can use MetaTrader 4 and trade with this most user-friendly and simple trading platform. On the other hand, advanced traders can use MetaTrader 5 to trade multi-asset classes with more advanced options. In addition, the broker also offers a proprietary web trading platform as well.
MetaTrader 4 (MT4)
MetaTrader 4 (MT4) is pretty similar to MetaTrader 5, although it has fewer features and capabilities. Despite this, it is still one of the most popular online trading platforms for traders all over the world. It is incredibly user-friendly, making it a good platform for new traders while providing ample capability for more experienced investors. MT4 is accessible via desktop, online, and mobile devices via a modern and leek trading app. Here are the salient features clients of Evolve Markets can enjoy while trading via MT4:
- Real-time market quotes
- 73 trading instruments excluding stock CFDs
- 11 timeframes and 3 chart types
- Automated trading with Expert Advisors (EAs)
- Instant, market, and pending orders
- Customisability
- Technical indicators and charting objects
- Push notification
- MetaQuotes marketplace
- Bitcoin as the base currency
- Scalping and hedging
- Available of desktop, web browsers, iOS, and Android devices
MetaTrader 5 (MT5)
The popular and sophisticated MetaTrader 5 (MT5) trading platform is also available to Evolve Markets clients. MT5 is a very versatile trading platform with lots of advanced features and funtionalities to take your trading to the next level. For those of you who want to trade stock CFDs, you will need to use MT5. MT5 not only contains all the salient features of MT4 but several additional features as well. Here are the features of MetaTrader 5:
- Real-time price quotes
- Depth of market (DOM) pricing
- Fully customisable
- Chart templates
- 21 timeframes
- Multiple order types
- Technical indicators
- Charting objects
- MQL Expert advisors (EAs)
- MQL programming interface
- Multi-currency strategy tester
- Push notifications
- Available on the desktop, web browser, Android, and iOS devices
Evolve Markets Web Trading Platform
Signing up with Evolve Markets will enable you to use the broker’s straightforward trading interface on the web, desktop, or mobile devices for trading on the go. The Evolve WebTrader is a lightweight and fast online trading platform with an intuitive, modern design and a comprehensive set of tools, indicators, and features for a comfortable online trading experience, regardless of your level of expertise.
Evolve Markets Platforms Summary
| Platform | Evolve Markets |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | ✓ |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | x |
| Other | x |
Evolve Markets does not provide any educational resources to help traders enhance their trading expertise. This is a little disappointing because most brokers provide a learning centre for beginning traders that contains lesson videos, trading guidelines, webinars, and other resources. In addition, the broker does not offer any other educational or research resources such as Autochartist, Trading Central, an economic calendar, and trading calculators.
It would be a beneficial addition if Evolve Markets included any of the mentioned tools in their services. However, the broker offers a blog area where they discuss a variety of subjects regarding their services. The broker’s website features a help section with plenty of answers to some of the most typical queries you could have about their services. If you are a beginner and looking for as much educational content as possible, Admirals have a great selection.
Evolve Markets Research and Education Summary
| Resources | Evolve Markets |
|---|---|
| Market Analysis | x |
| Guides | ✓ |
| Videos | x |
| Webinars | x |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | x |
| Other | x |
Evolve Markets only offers deposit or withdrawal via cryptocurrencies as the only payment method. This is very limited when compared to most brokers such as XM Group who provide bank transfer, card payments and e-wallet funding. There is no deposit or withdrawal fee or any minimum deposit requirement. However, the minimum withdrawal in different cryptocurrencies are as follows:
| Withdraw In | Minimum Withdraw |
|---|---|
| Bitcoin | 0.001 BTC |
| Ether | 0.01 ETH |
Evolve Markets Funding Summary
The payment methods available are as follows:
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | x | x |
| Credit/debit Card | x | x |
| Electronic Wallets | x | x |
| Cryptos | ✓ | ✓ |
Evolve Markets operates from St. Vincent and the Grenadines, and its parent company Evolve Markets Ltd is registered in the country. The country has very limited or negligible requirements for registering a company. Therefore most of the offshore companies tend to register here. Evolve Markets is not authorised or regulated by any other government regulatory authority. It would increase the broker’s credibility if it could get a license from some top-tier regulatory body. If you would prefer to trade with a regulated broker, then IG are one of the most well-regulated brokers that you will find.
Evolve Markets Regulation Summary
| Regulator | Evolve Markets |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other | x |
Evolve Markets Safety
Evolve Markets deals only in cryptocurrencies. Therefore it is not connected to any centralised banking system and claims to keep its clients’ funds in offline cold storage. So that the information related to their cryptocurrency wallets cannot be hacked and their clients’ funds remain safe with them.
The broker’s parent company Evolve Markets Ltd is an International Business Company IBC and registered offshore. Hence the broker is not authorised or regulated by any government regulatory authority.
Evolve Markets works strictly with applicable rules and regulations and follows IBC jurisdiction globally as a registered International Business Company. Consequently, the broker is able to offer certain trading conditions that some regulated brokers cannot since it has no regulatory brokerage or financial licence in any nation.
Evolve Markets offer customer support via email communication on their website. There is no way to contact the support via phone or live chatbox on the website. However, clients can contact support via live chat on the broker’s WebTrader. Finally, the broker offers 24/7 customer support via email.
Because Evolve Markets exclusively funds accounts in cryptos, it allows cryptocurrency users to trade in forex stocks, indices and more. It does it without demanding any kind of identification verification. Evolve Markets’ approach to account management will appeal to those who value their privacy. However, some potential users may be concerned by the current lack of regulation.
