Portex Markets Review

Portex Markets at a glance

Who is Portex Markets?   

According to research in South Africa PORTEX MARKETS is a Forex and CFD brokerage with headquarters in London in the United Kingdom.

PORTEX MARKETS was founded in 2015 as a STP, ECN and DMA type broker.

Traders can enjoy highly competitive margin requirements, fast execution and tight spreads with MT4 as platform with this broker. Every account holder can be assured of keen broker support and personal assistance from a highly experienced team.

PORTEX MARKETS​ offers trading of currencies, indices, CFDs, ETFs and commodities.

Safe or scam

One of the best benchmarks to measure the safety of a broker like PORTEX MARKETS, is to establish which regulating authorities are watchdogs over its actions.

PORTEX MARKETS is regulated by the United Kingdom’s Financial Conduct Authority (FCA) and as a Financial Service Provider (FSP) by the Financial Sector Conduct Authority (FSCA) in South Africa.

The FCA is famous for its strict rules and supervision and orders brokers to hold at least €730 000 for prove of financial stability. The broker needs to keep client monies separate from the company’s funds, must adhere to a number of standards and report to the commission on a regular basis.

The Financial Services Compensation Scheme (FSCS) covers funds invested in FCA-regulated firms, so that in the event of company insolvency, the FSCS is able to cover traders’ investment loss up to £50 000. This FSCS protection covers all PORTEX MARKETS retail accounts.

Pro and cons

Leverage

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

Leverage amount is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

PORTEX MARKETS offers a maximum leverage ratio of 1:400.

Accounts

A forex account at PORTEX MARKETS is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against Islamic faith.

PORTEX MARKETS offers no demo account, and only a standard account type with a swap-free option for clients of Islamic belief.

The Standard Account can be opened with a minimum deposit amount of $100, has floating spreads, and leverage up to 1:400. Micro lots can be traded – the minimum lot size is 0.01, and maximum size 250.0. Spreads are variable and commission is 4.5%. Scalping is allowed.

Market instruments

The most popular market instruments available from most brokers for trading include:

Forex

Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices

Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

PORTEX MARKETS offers the following of the above: more than 60 forex pairs, exchange-traded futures, indices, energy, commodities and various CFDs for personal investment and trading options.

Fees

Cost depends on different factors, like spread and margins, and PORTEX MARKETS clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.

PORTEX MARKETS’ account has floating spreads, starting from 1.2 pips for the EUR/USD pair. The typical spreads amount to around 1.4 pips and involve no commission.

It is not indicated whether deposit and withdrawal fees are charged, but bank fees may apply. Traders should also enquire about inactivity fees for accounts that show no trading activity for long periods, since this may affect account costs.

Deposit and withdrawal

Accounts usually requires a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done with the same ways, but sometimes differ.

In the case of PORTEX MARKETS an account can be theoretically opened with just $1, but online payments with Skrill and Neteller require a minimum of $50, therefore it is recommended to open the live trading account with a minimum deposit amount of at least $100.

Accounts can be funded with currencies like USD, GBP and EUR, and Wire Transfer, Credit Card, Debit Card, Neteller FasaPay (available solely in Indonesia) and Skrill. These methods can be used as withdrawal methods too.

Trading platforms

The forex trading platform provided by PORTEX MARKETS to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

PORTEX MARKETS provides the MetaTrader 4 and MT4 Mobile forex online trading platforms.

MetaTrader 4 is popular and dependable, and is available as desktop, web and mobile versions. MT4 provides all necessary resources and tools to analyse all dynamics of financial instruments, trade, or create and use automated trading strategies (EAs).

How to open an account

Similarly to a bank, to register a forex trading account with PORTEX MARKETS for the first time, you will be required to go through a basic “know your customer” process, which will allow PORTEX MARKETS to ascertain that your submitted details and ensure the safety of your funds and account details.

With PORTEX MARKETS the process is easy and quick, by providing the necessary documentation and filling out an online form with the necessary information.

Customer support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

In the case of PORTEX MARKETS customers can reach the support team by means of phone calls, email, or Skype. Support is available in English.

Education

Before starting to trade, potential clients of PORTEX MARKETS should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

PORTEX MARKETS offers no demo account, but all clients have unlimited access to its daily Live Training Rooms with the company’s head analyst. Trading strategies are also discussed on the website.

Research

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.

With PORTEX MARKETS they have access to the following:

Fundamental and Technical Analysis

News

Market Research

Economic Calendar

Live Quotes

Calculators

Trading Strategies

Trading Signals

Alerts

Charts

Awards

Being an awarded company instils extra confidence by traders.  Although PORTEX MARKETS is acclaimed by customers, there is no indication of awards won on its homepage.

Conclusion

PORTEX MARKETS is a Retail Forex and CFD broker that gives its clients access to trading Forex, Indices and commodities on desktop and web versions of the MT4 trading platform.

Based in London, the broker is an introducing broker to FCA-regulated One Financial Markets and offers a safe and secure trading environment with good customer support in English.

Disclaimer

PORTEX MARKETS warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with PORTEX MARKETS, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.

PORTEX MARKETS warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence PORTEX MARKETS cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

FAQs

Trading environment

How many instruments can I trade with PORTEX MARKETS?

You can trade several different instruments with PORTEX MARKETS, which include the following:

Over 60 forex pairs

ETFs

Indices

Energy

Commodities

CFDs

Which platforms are supported by PORTEX MARKETS?

PORTEX MARKETS provides the following popular trading platforms:

MetaTrader 4

MT4 Web Platform

MT4 Mobile Platform

Does PORTEX MARKETS offer leverage?

Yes, PORTEX MARKETS offers a maximum leverage of up to 1: 400

What spreads can I expect with PORTEX MARKETS?

PORTEX MARKETS offers floating spreads, starting from 1.2 pips.

Does PORTEX MARKETS charge commission?

More information on commissions may become available after opening an account.

Is PORTEX MARKETS regulated and by whom?

PORTEX MARKETS is regulated by FCA (UK) and FSCA (South Africa)

Is PORTEX MARKETS a recommended forex trading broker for experts and beginners?

PORTEX MARKETS offers a fair trading environment for most types of traders.

What is the overall rating out of 10 for PORTEX MARKETS?

7/10

Accounts

What is the difference between a demo and live trading account?

A demo account is offered by broker companies like PORTEX MARKETS and usually funded with virtual money for customers to experiment with the company’s trading platforms and features before setting up a real account with their own real money.

Does PORTEX MARKETS offer a demo account?

No

Can I convert my demo account to a live trading account with PORTEX MARKETS?

This is not clear from information on the company homepage.

Which live trading accounts does PORTEX MARKETS offer?

Standard Account

Islamic Account

What are the available deposit currencies for a live trading account?

USD GBP, EUR

Deposits and withdrawals

What is the minimum deposit required to open an account with PORTEX MARKETS?

$ 100

How do you make a deposit and withdraw money with PORTEX MARKETS?

PORTEX MARKETS offers the following deposit and withdrawal methods:

Wire Transfer

Credit Card

Debit Card

Neteller

Skrill

The same method that was used to fund an account can be used to withdraw money.

Does PORTEX MARKETS charge withdrawal fees?

Fees from financial institutions may be applicable.

How long does it take to make a withdrawal?

Usually withdrawals take a few days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.