General Information
Costa Markets is an online forex broker offering its clients easy access to various popular and mainstream financial markets, such as Foreign Exchange, Indices, Commodities, Shares and more. With the Costa Markets, investors have the flexibility to choose from four trading accounts, use leverage up to 1:400, and deposits charge no fees.
Costa Markets is the trading name of Costa Markets Limited, incorporated in Seychelles and registered to provide margin and CFD trading services.
Is Costa Markets safe to trade with？
Obviously, Costa Markets has disappointed us when it comes to regulation. It has been verified that this broker is not subject to any valid regulation for now. Thats why its regulatory status has been classified as “No License”, and it got a very low score of 1.24/10 on the WikiFX website.
Trading forex and CFD products contains a high level of risk, and it is vital to find a strictly-regulated forex broker.
Market Instruments
On the Costa Markets platform, traders have the access to a total of five classes of trading assets, including Foreign Exchange, Commodities, Indices, Shares, Cryptocurrencies, all available through this brokerage platform.
Account Types
Like many other forex brokers, Costa Markets also offers tiered trading accounts for both retail and professional traders, namely Standard, ECN, Islamic, and PAMM accounts.
The Standard account is suitable for all types of traders, especially beginners, requiring an initial deposit of $100, which is acceptable for most regular traders.
The ECN account is ideal for professional traders and scalpers who pursue extreme trading environment. The minimum initial deposit required by this account is not disclosed.
The Islamic account is designed for Muslim traders only, and this account provides the swap-free offering.
The PAMM account is for inexperienced traders to duplicate trades of professional trader to diversify and optimize their portfolios performance.
Leverage
The maximum leverage that traders can use on the Costa Markets platform is up to 1:500, which is much high than the appropriate amount considered by most regulatory authorities.
Bear in mind that high leverage is not always the good thing, as it can increase your profits on one hand, and more importantly, it can cause serious fund losses, especially to inexperienced traders.
Spreads & Commissions
Costa Markets says it offers competitive spreads, with spreads from 0.0 pips on the EUR/USD pair, 0.2 pips on the GBP/USD pair.
Trading Platform
Costa Markets provides its clients with the industry-leading MT5 trading platform, which can be accessed on any device.
Compared with the MT4 trading platform, MT5 is more intuitive, offering significant improvements in areas of copy trading, mobile trading and other innovative features that make trading account management more efficient.
Some features and functionalities of the MT5 trading platform include: one-click trading, 6 pending order types, 21 timeframes, 38 technical indicators, 44 graphic objects for the chart publication and development, and more.
Besides, a demo account is available with the MT5 trading platform for you to test this platforms trading environment.
Educational Resources
Costa Markets also provides limited educational resources and trading tools to help traders quickly acquaint themselves with forex trading, which include Forex Calculator, Trading Terms, Economic Calendar.
Deposit & Withdrawal
The minimum deposit and withdrawal amount is $10. This brokerage house allows its clients to make a deposit and withdrawal through multiple payment options, such as MasterCard, Skrill, Wire Transfer, Crypto, Perfect Money.
Costa Markets claims that no fee applied for both deposit and withdrawal.
Withdrawals are processed during Monday to Friday, and it usually takes 12 hours for funds to appear into your account.
Customer Support
Traders with any inquiries or trading-related issues can get in touch with Costa Markets through multiple channels, 24-hour customer support available.
Here are some contact details:
Telephone: +61 2 80754627
Email:
support@costamarkets.com
A Contact Form (Fill in some required details and wait to be contacted)
Registered Office Address: Level 36, Gateway, 1 Macquarie Place, Sydney, NSW 2000 Australia
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.
