MarketsKing is a binary options broker that got started in 2013, and is based in London. When I first entered the site, I was not particularly impressed. I found it tedious to navigate, and certain features kept the site from loading properly unless it was in full view. I also had a hard time hunting down information for this review. But then I talked to a customer service agent named Natalie, who turned out to be one of the best service representatives I have talked to while writing these reviews. MarketsKing is still something of a mixed bag, but they do have some interesting and unique features, and they do accept traders from the USA.
Opening an Account on MarketsKing
You can get started on MarketsKing with $200, and open your account in US Dollars, Euros, or British Pounds. The site offers there different account types, all with great features. If you deposit $500 to $999, you receive a Standard Account. You receive a one-on-one trading session as part of this package, a free eBook, and access to daily market reviews. If you invest $1000 to $4,999, you get a Premium Account with an account manager, two free trading strategies, trading tips, an eBook, daily reviews, and trading signals sent to your mobile. The customer service representative emphasized that the trading signals are proprietary and you cannot get them anywhere else.
The largest account size is the Platinum Account, for traders who deposit $5,000 to $24,999. This account includes an account manager who is always available, trading signals, AutoTrading, regular trading tips, an eBook, daily and weekly market reviews, and trading signals delivered to your email and mobile device. MarketsKing still has no mobile trading app, but they are working on getting that feature up and running.
As far as deposits and withdrawals, there are not a lot of methods—just credit or debit card or wire transfer. There were no fees or minimum thresholds mentioned on the site, which is great. Since $20 is the minimum trade size, traders probably will want to deposit more than the minimum for money management reasons. The maximum trade size is $500.
Unique Trade Types and Features
If you go to the trading platform, you will see it is different from other platforms you may have used in the past. Instead of SpotOption or another popular trading platform, MarketsKing is powered by O-Systems. This was the first broker I ever saw that used O-Systems. All in all, it is not much different from the other trading platforms which are more commonly used, and is pretty intuitive once you start clicking around and exploring. Some of the trade types are not completely intuitive, but once you learn them, they are easy to execute. If you have questions, a customer service representative will quickly answer them and help you out.
On MarketsKing, you can place High/Low trades and Quick Trades (60- to 240-second trades). MarketsKing gives you options for expiry times, which is very nice. You cannot input any expiry time you choose, but at least you have several options each time you trade. Two unique types of trading are included on the site that I have never seen on any other broker site. One is called Automatic Order. This is a bit like a High/Low trade with a limit order, such as you would use in Forex. You can set an entry price and wait for it to trigger. This is great if your setup tells you that a trade will exist at a certain level, but you are not at that level yet, but do not want to sit in front of your screen waiting. Another interesting trading feature is Social Trading. With Social Trading, you can share your trades with others, and follow other traders’ decisions.
Top-Notch Customer Service
As I mentioned, originally I was frustrated with MarketsKing. The website layout and load issues were annoying. No features were refusing to load, but if the window was not maximized, the site automatically would scroll down, and I would have to manually scroll back up to the top to get where I wanted to be. Many questions I had also could not be answered without talking to an agent.
When I got on live chat, I was greeted instantly. This made me suspicious, because usually an instant response comes from a bot and not a live person. Nonetheless, I typed back and asked a question. Once again, the turnaround on the response was so fast I almost thought I was talking to a very smart machine. The answer was clear, complete, and almost instant.
I asked a couple more questions and concluded I was really talking to a person. It is very rare that you get an agent on a binary options site that knows the answers to your questions, is clearly intimately familiar with the company’s operations, and is interested in being fast and responsive. There was no waiting for Natalie to search for the answer, and she was personable, patient, and happy to spend extra time with me talking about the site features. There is nothing more important than quality customer service. That determines the quality of the entire trading experience. If you are going to trust a company with your money, it should be one that is communicative and straightforward.
An Up-and-Coming Broker?
MarketsWorld is not very well-known right now, and most of the reviews I found online on third party sites were uninformative or just plain incorrect. The site itself has some issues, but transparency is not one of them as I had initially believed. The customer service representative was very impressive, and really went above and beyond to deliver top-notch performance. Many of the employees at MarketsWorld have a background in Forex, and are well positioned to offer an excellent product and service. MarketsWorld may very well find themselves doing quite well within the next couple of years if they polish up the site a bit and continue to offer that kind of friendly, transparent, knowledgeable service.