Soho Markets' Information
Soho Markets, operated by Vstar & Soho Markets Ltd and regulated by Cyprus Securities and Exchange Commission (CySEC) (No. 409/22), offers a secure trading environment since its establishment in 2011 in Cyprus. They provide a variety of financial instruments including Forex, Metals, Energy, Commodities, Stocks, Indices, and Crypto CFDs. Soho Markets supports 24/7 automated customer service via live chat and active engagement on social media platforms.
Pros & Cons
Pros:
- Regulated: Soho Markets is regulated by reputable authorities CySEC (Cyprus Securities and Exchange Commission).
- Versatile Trading Accounts: Soho Markets provides flexibility with account types such as Standard STP and ECN.
- Zero Commission: Soho Markets charges no commission fees of their Standard STP users.
- Extensive Instruments: Soho Markets offers a wide range of financial instruments including Forex, Metals, Energy, Commodities, Stocks, Indices, and Crypto CFDs.
Cons:
- Regional Restrictions: The services of Soho Markets Global Limited are restricted in several countries, including the USA, Canada, Israel, Japan, North Korea, Belgium, and UN/EU Sanctioned countries.
Is Soho Markets Legit？
Soho Markets, operating under Vstar & Soho Markets Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license number 409/22 specifically authorized for Straight Through Processing (STP). This regulation ensures that Soho Markets adheres to strict financial standards and provides a secure trading environment for its clients.
Market Instruments
Soho Markets offers a diverse range of market instruments.
Forex: Soho Markets provides CFD trading in over 50 forex pairs with ultra-fast execution and tight spreads as low as 0.01 pips. They offer major pairs like EUR/USD, GBP/USD, and USD/JPY.
Metals: Metals trading can serve as an effective hedge against inflation, with gold often regarded as a safe-haven asset during volatile market conditions. Soho Markets offers trading in metals such as gold, silver, and palladium, at low costs and with fast execution.
Energy: Energy trading in Soho Markets involves buying and selling assets like US oil, UK oil, and natural gas through CFDs. These markets are influenced by global supply and demand dynamics, economic conditions, and geopolitical factors.
Commodities: On Soho Markets, commodities trading includes a wide range of assets like cocoa, coffee, sugar, copper, cotton, natural gas, and more. Traders can speculate on these assets using swaps and futures, leveraging their understanding of supply and demand dynamics in these markets.
Stocks: On Soho Markets, stock trading involves buying and selling shares of various companies like China Telecom, Tencent, Alibaba, Xiaomi, and others. Traders participate in these markets based on company financial health, earnings potential, expansion plans, and overall economic and sector performance.
Indices: On Soho Markets, trading indices involves CFDs based on major global indexes like France 40, German DAX30, Spain IBEX 35. These indices represent baskets of stocks from specific exchanges, allowing traders to speculate on broader market trends rather than individual stocks. Indices are favored for their ability to mitigate volatility by averaging the performance of multiple stocks.
Crypto CFDs: On Soho Markets, cryptocurrency trading includes popular pairs like Bitcoin, Ethereum, Ripple, Litecoin, Binance Coin, and Zcash. These trades are conducted using CFDs with low minimum trade sizes and are characterized by their high digit precision.
Account Types
Soho Markets Ltd offers two types of accounts: the Standard STP Account requires a minimum deposit of $50 with no commission, while the ECN Account requires a higher minimum deposit of $20,000 but offers lower spreads and charges a commission of $6 per trade. Both account types support trading on PC, Mac, iOS, and Android platforms with similar trade size and position limits.
Leverage
Soho Markets offers a maximum leverage of 1:500 for its Standard STP Account, empowering traders to significantly amplify their market exposure beyond their initial margin deposits. However, this heightened leverage inherently carries notable risks, as it can exponentially magnify losses. The ECN Account are provided a more conservative leverage of 1:200, accompanied by tighter spreads. This option offers traders a safer leverage ratio, suitable for those seeking a balance between potential returns and risk management.
Spreads & Commissions
Soho Markets offers different commission structures and spreads depending on the type of account. The Standard STP Account has no commission charges, with a minimum FX spread starting at 1.5. In contrast, the ECN Account imposes a commission of $6 per trade, alongside a lower minimum FX spread starting at 0.2, providing clients with tighter spreads sourced directly from liquidity providers without markups.
Trading Tools
The Economic Calendar aggregates high and low impact market events, including global economic data releases, central bank press releases, and speeches by governors. This tool is useful for traders, offering insights to formulate strategies, manage risk, and adjust position sizes effectively. Users can access previous data, forecasts, and actual results in an organized and timely manner.
Research & Education
Webinars: Soho Markets offers a series of FREE & LIVE webinars covering key topics in financial trading, including the impact of Non-Farm Payrolls and FOMC meetings, the effect of bank interest rates on Forex trading and so on.
Market Analysis: Soho Markets offers cutting-edge market analysis to inform strategic trading decisions. They provide comprehensive insights into global financial markets, including geopolitical developments, market news, and economic indicators.
Forex Trading Academy: Forex Trading Academy provides eBooks covering trading strategies, technical analysis, and market insights. In addition, the academy covers essential topics such as forex trading sessions, market size and liquidity, leverage, and the relationship between investment products like gold and currency pairs.
Customer Support
Soho Markets offers comprehensive customer support to its clients.
- Telephone: Clients can dial +442036701470 and get assistance promptly.
- Email: Soho Markets offers email support at support@Soho Markets.net.
- Live Chat: Soho Markets provides a live chat service available 24 hours a day, 5 days a week.
- FAQ: Soho Markets' FAQ covers topics such as account opening, deposit methods, security measures for username and password, password reset, multi-device access, and the types of trading accounts available.
Conclusion
In conclusion, Soho Markets, regulated by CySEC, offers a robust platform for trading Forex, Metals, Energy, Commodities, Stocks, Indices, and Crypto CFDs. In addition, Soho Markets features diversified trading accounts and zero commission fees for its Standard STP Account. Hoping the information proves helpful in your decision.
Q&A
Is Soho Markets suitable for beginners trading Forex？
Yes, Soho Markets is an advisable option for beginners as it is regulated by Cyprus Securities and Exchange Commission (CySEC).
What is the leverage offered by Soho Markets？
Soho Markets offers a maximum leverage of1:500 for its Standard STP Account and 1:200 for its ECN Account.
How much is the minimum deposit of Soho Markets？
The minimum deposit required varies: $50 for the Standard STP Account and $20,000 for the ECN Account.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
