Is TD Markets a good broker South Africans Should Consider ?

TD Markets was established in the year 2015, offering its clients basic forex and binary trading services that support MT4 platform. TD Markets is a registered offshore broker with attractive offerings like low variable spreads as well as minimum investment, and high leverage levels. Beginners in trading often opt for TD Markets as this platform never requires them to invest a minimum amount. Rather, it gives them a bonus of $10 while they sign up. The trading costs with TD Markets are around 1 pip per standard lot which is a pretty good pricing. Although there are different opinions about the broker, we will take a sneak peak about the pros and cons so we can see whether they are a great broker to work with or not.

A Quick Brief On Their Reputation

The principal company of TD Markets is TDM Holdings Inc. which is registered by the FSA of St. Vincent and the Grenadines. However, its card payments are processed by its UK subsidiary known as TD Market Limited which registered in the UK but not FSA approved. Since that TD Markets are registered offshore, there could be a few brokers that could take advantage of you, but besides that, there are many reputable brokers who can offer you better spreads with a minimum investment of just $1. TD Markets allows you to trade at one-tenth of the position than other brokers.

Less Spread For More Profit

Yes, TD Market offers a very low variable spreads comparatively to other brokers. TD Market’s trading cost is around 1 pip per standard lot and this is really a nice spread rate in the forex trading business. The risk you can get is way too less with low variable spreads. When you choose 1 pip movement, then you have a pip value of $0.01 per movement which is the smallest pip size you can avail in forex trading.

Should I Pay Fee To Open Account

There are no fees involved in opening an account. Rather, TD Markets will credit a bonus of $10 to your account to increase your capabilities of trading. This attracts beginner traders to learn and offers a pip rate as low as 1 cent with a minimum deposit of $10. You can transfer the funds to your bank account directly from your platform. The name in your bank account and your TD Market limited must be the same for withdrawing money. There is no standard fee for withdrawal but the transfer fees are covered for amounts over $200 and the transfer fee is liable for amounts below $200.

A Look on The Account Types

There are two types of accounts besides the demo account and live accounts which are used for practice. These accounts are Smart Account and Binary Account. The Smart account may be good for beginners as it comes with $10 bonus while the Binary accounts are suitable for commodity and stock market traders.

Other Means of Funding

TD Markets has multiple options to fund your account and requires no account funding. The company accepts Bitcoin which has no minimum value as well as Debit/ Credit Cards having a minimum deposit value of $10 and a wire transfer which requires a minimum of $200. You can select your desired mode of payment through your smart account.

What are the Trading Instruments

TD Markets have been constantly adding trading instruments like futures, CFD’s, and options, commodities and stocks where forex trading being the principal trading instrument. With the smart account, you can select the instrument you wish to trade. The binary options are predictions of a stock if it will go up or down by 3 pm and call an action.

Reliable Trading Platform

Like many brokers, TD Markets supports the popular Meta Trader-4 (MT4) platform. Meta Trader-4 is the most popular trading platform and has gained its popularity because of it's easy to use multifunctional features. The Meta Trader-4 platform allows traders to analyze the market and call an action before the trade. This platform is a fast executing trading platform which can be downloaded on your smartphones and desktop for ease of use.

Is This A Good Broker

This company is good for beginners and people who want to try trading by gaining knowledge with competitive spread value and minimum investment. Though TD Markets is a young offshore broker which attracts traders by offering lucrative profits and trading, it is recommended to avoid offshore brokers as a rule of thumb. But if you want to trade with offshore brokers, then TD Market could be a good choice for its low spreads, Meta Trader-4 Platform, minimal deposit amount, and a bonus credit to your account.