Switch Markets Review

Minimum Deposit: $50 VISIT BROKER
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Switch Markets Review

Summary

Switch Markets is an online forex and CFDs broker founded in 2019. Switch Markets Pty Ltd is a subsidiary company of Royal Financial Trading Pty Ltd that is registered and regulated by ASIC. The broker is located in St. Vincent and the Grenadines.

Switch Markets offer to trade over 180 trading instruments with the most popular Meta Trader 4 platform. The MT4 platform is available on desktop, web browsers and mobile devices. Switch Markets provides these instruments from various asset classes such as Forex, cryptocurrencies, commodities, indices and shares.

Tight spreads starting from 0.0 pip and zero commission trading provides Switch Markets with a competitive edge. Social Trading allows investors to replicate professional traders’ portfolios. In addition, Switch Markets provides a pack of useful trading tools, educational and research resources. Moreover, the broker offers free VPS to automate trading.

8.3Expert Score
Switch Markets Rating

From no commision orders and flexible funding options to finding an account type that suits you, choosing Switch Markets means you’ll have the right tools to make the most of every market opportunity.

Investment Products
8.5
Commissions and Fees
8.5
Platforms and Tools
8
Research and Education
8
Deposit and Withdrawal
8.5

Switch Markets Review

Pros and Cons

Switch Markets is regulated by ASIC. Demo accounts and Islamic accounts are offered by the broker. The broker offers tight spreads and low commissions. Multiple deposits and withdrawal options are available mostly at zero transaction cost. Cryptocurrencies are available to trade and use as a payment option as well. Social trading helps investors to copy other traders’ trading decisions. The account opening process is swift and fully digital, and there is no inactivity fee. Free educational and research resources help beginners to learn to trade easily.

On the other hand, Switch Markets does not accept clients from the US and a few other countries. The broker is not traded as a public company in any stock exchange. Plus, the company does not hold a banking licence. The broker charges a withdrawal fee for most payment options. The broker only offers MT4 trading platform in multiple environments, although this should be sufficient for the majority of traders and investors. Finally, the broker does not offer 24/7 customer support.

Here is a summary of the broker’s pros and cons.

Positives
  • Regulated broker
  • Low minimum deposit
  • Tight spreads and zero commissions
  • MT4 trading platform
  • Free VPS
  • Free education and calculators
  • Zero spreads accounts
  • Multiple funding options, including cryptos
  • Near-instant deposits with no fees
  • Social Trading / Copy Trading
  • 24/5 customer support
  • Account opening fully digital
  • 180+ trading instruments
  • Quick trade execution speeds
  • No inactivity fee
  • Demo accounts
  • Islamic accounts
Negatives
  • No other trading platforms except MT4
  • Small withdrawal fee for most payment methods
  • Clients from USA not accepted

Switch Markets Review

Investment Products

Switch Markets offers a diverse product portfolio of more than 180 trading instruments. The broker offers popular trading pairs from various asset classes such as Forex, stocks, indices, commodities and cryptocurrencies. However, the broker lacks some other popular asset classes such as options, bonds and ETFs.

Switch Markets Instruments Summary

InstrumentsSwitch Markets
Forex
Stocks
Indices
Commodities
Cryptos
Optionsx
Bondsx
ETFsx
CFDs
Switch Markets Instruments

Switch Markets Review

Commission and Fees

Commission and Spread Fees

Switch Markets offers tight spreads and low commissions. They provide multiple account types to suit each type of a trader.

Regular traders can start trading with zero commissions and tight spreads starting from 1.4 pip on a regular standard account. Alternatively, they can choose a regular pro account to benefit from zero spreads and a $3.5 commission per standard lot per side.

Institutional traders can start trading with zero commission and tight spreads starting from 0.6 pip with a standard account. Alternatively, they can choose a pro account and benefit from 0.0 pip and the lowest commission of $2.25 per standard lot per side.

Fee Regular Standard Regular Pro Institutional Standard Institutional Pro          
Commission (per standard lot per side)$0$3.5$0$2.25
Spreads from1.40.00.60.0
Switch Markets Trading Fees

Deposit and Withdrawal Fees

Switch Markets does not charge any deposit fee while using any payment option except cryptocurrencies where a blockchain fee will apply. On the other hand, the broker charges a certain withdrawal fee for using different payment options. The summary of deposit and withdrawal fee is as follows:

Payment Method Deposit Fee Withdrawal Fee
Wire Transferx$20
Credit/debit Cardx2%
Electronic WalletsxStarting from 0.5%
Cryptos Starting from 0.8% Starting from 0.8%
Switch Markets Funding Fees

Inactivity Fees

Switch Markets does not charge an inactivity fee from its clients.

Switch Markets Review

Platforms and Tools

Switch Markets offers the most well-known MetaTrader 4 trading platform. The broker offers access to its MT4 platform from multiple devices and environments.  In addition, Switch Markets offers useful trading tools such as free VPS hosting.

Switch Markets MT4 Platforms
Switch Markets MT4 Platforms

MetaTrader 4 (MT4) Desktop

Switch Markets provides trading over 180+ financial products via the most user-friendly MetaTrader 4 trading platform from MetaQuotes. MT4 is third-party and yet the most used and provided trading platform by numerous trading brokers and institutions because of its user-friendly and stable interface.

MetaTrader 4 offers 3 chart types (Bar, Line, Candlesticks) and up to 9 timeframes to have a more in-depth technical analysis. The trading platform has a dedicated market watch window where you can see real-time market quote prices (Bid & Ask with spreads). You can execute orders directly from the charts with one-click trading. Multiple order types like market, instant and pending orders allow traders to sophisticate their entry and exit techniques. You can use stop-loss, profit, and trailing stop orders options for exits in either a loss or profit.

You can access your complete account history from the trading history window. In addition, you can join the MetaQuotes community. Moreover, there is a MetaQuotes marketplace where you can buy and sell custom indicators, expert advisors and scripts.

With MetaTrader 4, you also get an MQL4 editor, where you can build custom scripts for indicators and expert advisors.

Strategy tester allows you to test your automated trading strategies on historical data. MetaTrader 4 provides full functionality for expert advisors and custom scripts. In addition, you can also enable push notifications for alerts from the MT4 platform.

Here is the summary of salient features of MetaTrader 4:

  • 3 chart types
  • 9 timeframes
  • Pro Pricing
  • Equinix NY4 data centre
  • Scalping and high-frequency trading
  • Spread from 0.0 pips
  • 40+ technical indicators and drawing objects
  • Full functionality Expert Advisor’s
  • MetaQuotes community
  • MetaQuotes Marketplace
  • Multiple order types
  • Market and pending orders
  • Limit, stop and trailing orders
  • MQL4 editor
  • Trading history
  • One-click trading from charts
  • Push Notifications
Switch Markets MT4 Platform
Switch Markets MT4 Platform

Mobile Trading (MT4)

The traders who like to trade on the go can download mobile versions of MetaTrader on iOS and Android devices. The mobile app of MT4 carries almost all the necessary features of the desktop version.

WebTrader (MT4)

You can also access WebTrader, a web version of MT4, from all popular browsers. You will just need an internet connection and a device with an internet browser to log in to your account without downloading any additional software or app.

Social Trading

Social trading is typically appealing to beginner or intermediate traders because it allows them to minimise the amount of time they spend placing their own orders. MetaTrader Trading Signals is a copy-trading service that allows users to replicate the most effective methods used by thousands of traders globally. You can benefit from the abilities and expertise of other traders to improve the performance of your own trading. Social Trading provides you with the following benefits:

  • Allow your money to work while you are still practising or on vacation
  • Diversify your portfolio by replicating different strategies
  • Subscription rates start at $0
  • Subscribe to a range of Signal Providers
Switch Markets Social Trading
Switch Markets Social Trading

Virtual Private Server (VPS)

Switch Markets provides a free VPS to all active trading account users. All you have to do is notify the support team once your account has gone live, and they will get you set up. They would even assist you in switching from your current VPS provider at no additional cost.

Switch Markets VPS
Switch Markets VPS

A VPS is a custom-built host according to your specifications and is very useful for forex traders owing to the security and flexibility it provides. It allows you to run your MetaTrader 4 trading platform 24 24/7 without having to turn on your personal computer. They are especially popular among traders who use automated trading systems.

Risk Management tool (EA)

The Risk Management EA estimates the optimal size of your trading position depending on the factors you choose. Simply enter a fixed amount or a percentage of your trading account to risk, as well as your take profit, stop loss, and entry levels, and the EA can calculate the relevant trade position size.

Switch Markets Platforms Summary

PlatformSwitch Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
cTraderx
Proprietaryx
Desktop
Web
Mobile
Social Trading
Other x
Switch Markets Platforms

Switch Markets Review

Research and Education

Switch Markets offers a wide range of educational and research resources. In addition, the broker offers numerous trading calculators. On the other hand, the broker lacks educational webinars, seminars, videos, podcasts or dedicated research tools such as AutoChartist and Trading Central.

Let’s go through each resource and tool briefly.

Forex Profit Calculator

With the free Forex Profit Calculator, you can calculate your earnings and losses before or after you execute a trade.

Forex Lot Size Calculator

Use this straightforward yet effective Forex Lot Size Calculator to determine the proper position size for each transaction and manage your risk for each trade like a pro.

Forex Economic Calendar

Explore crucial global events on the horizon that might quietly affect or significantly shake up the financial markets by using this free economic calendar.

Currency Strength Meter

With our sophisticated Currency Strength Meter, you can compare the performance of major currencies in relation to others in real-time.

Market Heat Map

Market heat map measures the strength of key currencies relative to others in real-time and quickly and simply discern whether a currency is substantially moving in one direction or another.

CAGR Calculator

With this simple CAGR Calculator, you can determine the compound annual growth rate (CAGR) of your assets.

Forex Compound Calculator

Use the Forex compound calculator to simulate the potential gains on your Forex trading account.

Value at Risk Calculator

To evaluate potential losses, use this Value at Risk Calculator.

Pip Calculator

Using live market quotations, calculate the pip value of your transactions for all major trading pairs.

Forex Swap Calculator

Calculate the swap fee charged on your trading account for holding positions overnight, depending on the instrument, account currency, and trade amount.

Forex Margin Calculator

Depending on the position size and trading account leverage, use this Forex margin calculator to calculate the precise margin required to establish a trading position.

Expert Advisor (EA) Tools

Automate your trading with free EAs provided by Switch Markets, which have been carefully built by their trading mentors with over 50 years of expertise to help enhance the entire trading experience.

Support & Resistance Indicator EA

The Support & Resistance Expert Advisor is an automated trading system meant to assist traders in identifying Support & Resistance levels by drawing them as horizontal lines on the charts.

Live Currency Strength Meter EA

The Live Currency Strength Meter is an automated trading system designed to determine the strength (or weakness) of specific currencies in relation to others in real-time, straight within your trading platform.

Value-at-risk (VAR) EA

The Value-at-risk (VAR) EA assesses the risk of loss on your assets. With a few clicks, you can confidently calculate your prospective losses.

Risk Management EA

Download the Risk Management EA, and immediately within your trading terminal, compute the correct lot size depending on your preferred risk-reward ratio.

Pivot Point Calculator

Pivot points are a technical analysis indicator that traders use to predict probable support and resistance levels as well as how prices may flip. They are computed using the previous day’s low, high, and closing prices. Traders utilise pivot points, as well as the support and resistance levels they give, to identify possible entry and exit positions, as well as stop-loss prices for their trades.

Switch Markets Pivot Point Calculator
Switch Markets Pivot Point Calculator

Free Forex Cheat Sheet Library

You can unlock a free trading cheat sheet library after opening an account with Switch Markets and learn more about chart types, methods, indicators, analysis, and other topics. This section contains different guides and educational content in downloadable form.

Switch Markets Forex Cheat Sheets
Switch Markets Forex Cheat Sheets

Here is the list of downloadables:

  • Top 10 Candlestick Patterns
  • Using the Average True Range (ATR)
  • Using the Stochastic indicator
  • Moving averages
  • Risk-on & Risk-off indicators
  • Fibonacci cheat sheet
  • Understanding the 4 types of charts
  • Ultimate MT4 shortcuts cheat sheet

Switch Markets Research and Education Summary

ResourcesSwitch Markets
Market Analysisx
Guides
Videosx
Webinarsx
Autochartistx
Trading Centralx
Economic Calendar
Other (Trading Calculator)
Switch Markets Resources

Switch Markets Review

Deposit and Withdrawal

Switch Markets offer a wide range of payment options. Traders can deposit and withdraw in over 11 base currencies offered by the broker. The payment options offered by the broker are debit/credit cards, wire transfers, e-wallets and cryptocurrencies.

Transactions may take anywhere from instantly to 3-5 business days, depending on the payment method you use. In addition, there might be a conversion fee charged while making a transaction in a currency other than the base currencies offered by the broker.

Switch Markets Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
Cryptos
Switch Markets Funding Options

Switch Markets Review

Regulation and Safety

Switch Markets Pty Ltd is a subsidiary company of Royal Financial Trading Pty Ltd that is authorised and regulated by the Australian Securities and Investments Commission (ASIC), which provides a huge advantage to the broker in terms of reputation.

Switch Markets Regulation Summary

RegulatorSwitch Markets
ASIC (Australia)
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
Otherx
Switch Markets Regulators

Switch Markets Safety

Switch Markets is not listed on any stock exchange. Consequently, it does not disclose its financial information to the public. In addition, the broker does not hold a banking licence. However, Switch Markets claims to have its clients’ funds in segregated accounts to keep them safe from the broker’s bankruptcy and make sure that clients’ funds are never used for the operational costs of the broker. Plus, ASIC regulation makes Switch Markets a reputable online broker.

Switch Markets Review

Client Support

Switch Markets offers customer support 24/5 via live chat and ask a question section.  

Switch Markets Review

Conclusion

Switch Markets is a multi-asset online broker that lets clients trade a variety of financial products using the MT4 trading platform. They provide traders with competitive trading conditions such as many account types, low spreads, zero commission fees, and flexible payment methods. To help traders, there are a variety of research tools, educational resources and trading tools available, including a free VPS for all new clients. The minimum deposit to begin trading is $50, and demo and Islamic accounts are available. If you want assistance, a multilingual customer support staff is available 24/5.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

Switch Markets Review

FAQs

When was Switch Markets founded?

Switch Markets was founded in 2019.

Where is Switch Markets located?

Switch Markets operates from St. Vincent and the Grenadines.

Is Switch Markets regulated?

Switch Markets is regulated by the ASIC.

What trading instruments does Switch Markets offer?

Switch Markets offers more than 180 trading instruments from various asset classes such as Forex, cryptocurrencies, commodities, indices and stocks.

What is Switch Markets minimum deposit?

Switch Markets requires a minimum deposit of $50.

What investing platforms does Switch Markets offer?

Switch Markets offers MT4 trading platform on web browsers and desktop and mobile devices.

What is Switch Markets commission fee?

Switch Markets charges very low trading commission fees starting from zero commission on standard accounts or $5 per standard lot (on institutional pro accounts).

Does Switch Markets charge an inactivity fee?

Switch Markets does not charge an inactivity fee.

What are Switch Markets spreads?

Switch Markets offers tight spreads starting from 0.0 pips on pro accounts and 0.6 pips (institutional Pro accounts).

What funding options does Switch Markets offer?

Switch Markets offers various funding options, including debit/credit cards, wire transfers, e-wallets and cryptocurrencies.

Does Switch Markets offer demo trading?

Yes, Switch Markets offers demo trading.

Does Switch Markets offer Islamic accounts?

Yes, Switch Markets offers Islamic accounts.

How do I contact Switch Markets customer support?

You can contact Switch Markets customer support 24/5 via live chat or the “ask a question” section.
Switch Markets Review
Switch Markets Review
Minimum Deposit: $50
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.

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