Sheer Markets Details
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There are brokers out there that focus on a quality that is of great importance but has been neglected in recent years. Modesty is a word that has been thrown out there many times, but we think it best describes the following broker. For Sheer Markets brings an excellent trading experience that is packaged in such a timid yet confident way that we cannot help but like it. And so will you.
Sheer Markets (Cyprus) Limited is a fully regulated broker that holds a license by CySEC.
CySEC is considered one of the top regulatory body in the entire FX industry, and the reasons are manyfold. We can fill the entire review with these, but we will just focus on the basics.
Some of the most demanding requirements include a €730 000 proof of financial stability that all brokers need to keep in their accounts as a safety net. Moreover, all CySEC regulated brokers absolutely need to keep their users' money in separate and segregated bank accounts. last but definitely not least, all brokers under the Cypriot watchdog's wing are covered by the Investor Compensation Fund, which sees all users applicable for reimbursement should the broker fall into insolvency for a reason or another. The maximum sum that can be refunded is €20 000.
Overall, CySEC has set as its goal to sustain the market integrity of most EU-based brokers, which in turn makes the agency a crucial player in the FX industry.
Sheer Markets is fully regulated and safe to trade with!
All EU brokers are required to cap their leverages to 1:30. Pro users can tap into a higher leverage by applying for it, but the requirements for this are incredibly steep and only the most advanced and profiting of clients can do so.
The average spread with the standard account is 1.2 pips, which is very advantageous.
Please note that higher account tiers have certain commissions attached to their spreads. These accounts are the Sheer Prime and the Sheer Prime Plus. The commissions are per side, meaning that what the website reveals as a fee is actually only half of the charge. For instance, the Sheer Prime account has a $4 FX commission per side, meaning that the actual spread of any FX spread is increased by an additional 0.8 pips!
Sheer Markets is available only in English.
SHEER MARKETS LOGIN
The main, and only, trading platform used here is the MT5. With it, there is no need for further trading softwares. This is the best of its kind; so good, in fact, that it is it that dictates the future of platforms and most trading standards. In our experience, only the most serious brokers acquire the MT5.
Some of the MT5's classic features include algorithmic trading, advanced technical analysis, tons of customizable trading indicators, optimal charts, time frames, custom tools, and so many other minor and major features that we can honestly double the size of the review by just writing about them.
The MT5 powerhouse is also available in a simpler form- a web trader- however for a cost. The web trader's functions are more than cut in half when compared to the desktop version of the software.
SHEER MARKETS MINIMUM DEPOSIT
The CySEC regulation translates to a safe environment for depositing.
The minimum deposit requirement is $200.
There are two base currencies in which the client can hold her account: EUR and USD.
Credit card payments can take up to 2 hours to process, while bank transfers may take some 2 days to be processed.
SHEER MARKETS WITHDRAW METHODS AND FEES
CySEC guarantees that the user will have her withdrawal requests processed in a safe and secure environment.
The processing times for withdrawals are around 2 to 5 days, depending on the method used and the circumstances around the payment.
There is a €10 dormancy fee applied to all users whose accounts have not been active for more than 6 months. There are no other fees to speak of. The company applies no commissions to withdrawals, however, users should be aware that their banking institutions can send over certain fees that are strictly third party!
Overall, very common withdrawal conditions.
This broker is a classic and very homely example of what an FX investment business should be like. It truly encompasses all the standard and necessary elements, and in so doing offers a perfect trading experience.
Sheer Markets compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines