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Castle Market

Comoros|1-2 years|
Suspicious Scope of Business|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://castle-market.com/

Website

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Contact

+84 2835352630
admin@castle-market.com
https://castle-market.com/
No. P7-03.OT02, Park 7, 208 Nguyen Huu Canh Street, Ward 22, Binh Thanh District, Ho Chi Minh City.

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No restriction on the broker account. Support service provided by WikiFX

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Contact number

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+84 2835352630

Broker Information

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Company Name

Castle Market Co.,Ltd

Company Abbreviation

Castle Market

Platform registered country and region

Comoros

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-06-13
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • United StatesNFA (license number: 0560862) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0560862)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Castle Market · WikiFX Survey

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Castle Market · Company Summary

Aspect Information
Company Name Castle Market
Registered Country Vietnam
Founded Year 2022
Regulation NFA (unauthorized)
Market Instruments Stocks, Bonds, Commodities, Currencies, Options, Futures
Account Types Ultra low, Standard, VIP
Minimum Deposit $20
Maximum Leverage 1:3000
Spreads Starting from 0.1 pip
Trading Platforms MetaTrader 5 (MT5)
Customer Support Email: admin@castle-market.com
Deposit & Withdrawal Debit/Credit Cards (Stripe, Payscout), Cryptocurrency (Coinbase)

Overview of Castle Market

Castle Market, founded in 2022 and based in Vietnam, offers a range of market instruments, including stocks, bonds, commodities, currencies, options, and futures. The platform provides various account types such as Awesome, Standard, and VIP for different trading preferences. With a minimum deposit of $20 and a maximum leverage of 1:3000.

Utilizing the MetaTrader 5 (MT5) trading platform, Castle Market provides a user-friendly experience. However, it's important to note that the platform operates without regulatory authorization from the National Futures Association (NFA).

Overview of Castle Market

Is Castle Market legit or a scam?

Castle Market is currently listed as “Unauthorized” by the National Futures Association (NFA) and operates under a Common Financial Service License. The regulatory authority overseeing Castle Market is the United States, with the license number 0560862 issued to CASTLE MARKET LTD. It's important to note that the term “Unauthorized” implies that the platform does not hold the necessary regulatory approval from the specified authority.

Is Castle Market legit or a scam?

Pros and Cons

Pros Cons
1000 +Diverse Trading Assets Lack of Regulatory Oversight
High Leverage Options Limited market analysis and insights
User-Friendly MT5 Trading

Pros:

  1. Diverse Trading Assets: Castle Market offers a broad range of over 1000 trading assets, including Forex, Cash Index, Metals, and Commodities. This variety allows traders to explore different markets and diversify their investment portfolios.

  2. High Leverage Options: The platform provides high leverage options, such as a maximum leverage of 1:3000 for the Awesome Account. High leverage can amplify potential profits, but it also increases the risk, and traders should use it cautiously.

  3. User-Friendly MT5 Trading: Castle Market uses the MetaTrader 5 (MT5) trading platform, known for its user-friendly interface, advanced charting tools, and automated trading capabilities. This can enhance the trading experience for both beginners and experienced traders.

Cons:

  1. Lack of Regulatory Oversight: Castle Market is currently listed asUnauthorized” by the National Futures Association (NFA) and operates under a Common Financial Service License. “Unauthorized” implies that the platform does not hold the necessary regulatory approval from the specified authority.

  2. Limited Market Analysis and Insights: The platform seems to lack comprehensive market analysis and insights. Traders will find it challenging to make informed decisions without robust market information and research tools.

Market Instruments

Castle Market presents a array of trading assets, covering Stocks, Bonds, Commodities, Currencies, Options, and Futures. Stocks, representing ownership in publicly traded companies, offer investors an avenue for potential capital appreciation and dividends. Bonds, on the other hand, provide a fixed-income investment, serving as a debt instrument for governments or corporations.

Commodities, a vital category, include tangible goods like agricultural products or precious metals, allowing traders to diversify their portfolios. The inclusion of Currencies provides opportunities for foreign exchange trading, allowing users to speculate on the fluctuations in currency values. Options, a versatile financial instrument, offer the right, but not the obligation, to buy or sell an asset at a predetermined price, providing flexibility in trading strategies.

Futures, a derivative financial contract, enables investors to speculate on the future price movements of an underlying asset. This comprehensive range of assets serve a broad spectrum of traders, each with their distinct risk tolerance and investment goals. However, users should carefully assess the lack of regulatory oversight, a factor that impact the overall risk and security of trading on the platform.

Account Types

Castle Market offers three distinct account types for various trading preferences and capital levels.

The Ultra low is for traders seeking ultra-low entry with a minimal deposit of $20. This account type provides an enticing maximum leverage of 1:3000, allowing for significant exposure to the markets. With a stop-out level set at 0, traders benefit from a flexible and accessible trading environment. Instant execution windows and starting spreads at 0.1 pip contribute to a dynamic trading experience.

The Standard Account serves traders with a more substantial capital base, requiring a deposit of $3,000. Offering a maximum leverage of 1:1000 and a stop-out level of 0, this account type maintains the features of instant execution and competitive spreads, starting at 0.1 pip.

For those seeking a higher level of service and trading capabilities, the VIP Account requires a deposit of $5,000. With a maximum leverage of 1:500 and a stop-out level of 0, the VIP Account maintains the advantageous features of instant execution and tight spreads starting at 0.1 pip.

Account Type Minimum Deposit Maximum Leverage Stop Out Spread (Starting)
Ultra low $20 1:3000 0 0.1 pip
Standard $3,000 1:1000 0 0.1 pip
VIP $5,000 1:500 0 0.1 pip
Account Types

How to Open an Account?

  1. Visit the Website:

    Go to Castle Market's official website by entering the URL in your web browser.

  2. Registration:

    Click on the “Sign Up” or “Register” button on the homepage. Fill in the required details accurately, including your personal information.

  3. Account Type Selection:

    Choose the type of account you wish to open based on your trading preferences and financial goals. Options may include Awesome Account, Standard, or VIP.

  4. Verification:

    Complete the account verification process. This typically involves providing identification documents to comply with regulatory requirements.

  5. Deposit Funds:

    Once verified, log in to your account and navigate to the deposit section. Choose a convenient payment method and fund your account with the minimum required amount or more.

  6. Start Trading:

    With your account funded, you are now ready to start trading. Explore the trading platform, analyze markets, and execute your trading strategies.

How to Open an Account?

Leverage

Castle Market offers varying maximum leverage based on the chosen account type. For the Awesome Account, traders can access an impressive maximum leverage of 1:3000, providing substantial flexibility in trading positions. The Standard account provides a competitive maximum leverage of 1:1000. Meanwhile, the VIP account offers a maximum leverage of 1:500, striking a balance between flexibility and risk management. It's crucial for traders to carefully consider their risk tolerance and trading strategy when selecting an account type with an appropriate leverage level on Castle Market.

Spreads & Commissions

Castle Market features competitive spreads and commissions across its account types. The Awesome Account, with a minimum deposit of $20, offers ultra-low spreads starting from 0.1 pip, making it attractive for traders seeking tight pricing. The Standard account, requiring a deposit of $3,000, maintains the same low spreads and instant execution. The VIP account for more experienced traders with a minimum deposit of $5,000, also provides spreads starting from 0.1 pip.

Trading Platform

Castle Market operates on the MetaTrader 5 (MT5) trading platform, a widely recognized and popular platform in the financial industry. MT5 is known for its advanced features and tools, providing traders with a comprehensive trading environment. The platform supports various asset classes, including forex, stocks, commodities, and more.

Traders using MT5 on Castle Market can access advanced charting tools, technical analysis indicators, and customizable trading strategies. MT5's user-friendly interface and versatility make it suitable for both novice and experienced traders. However, it's essential for users to evaluate the platform's features and functionality based on their individual trading preferences and requirements.

Deposit & Withdrawal

Castle Market offers multiple payment methods to facilitate transactions on its platform. Users can make payments using debit/credit cards, and this is facilitated through the Stripe and Payscout platforms. Additionally, Castle Market accepts cryptocurrency payments through the Coinbase platform. This range of payment options provides users with flexibility in choosing the method that aligns with their preferences and convenience.

Customer Support

Castle Market provides customer support through email, with the dedicated address admin@castle-market.com. Traders can reach out to this email for assistance, inquiries, or support-related issues. While email communication offers a written record and allows users to articulate their concerns comprehensively, it lacks the immediacy of real-time support channels.

It's advisable for users to check the platform's specified support hours and response times to manage their expectations when seeking assistance through this channel. Additionally, traders will explore other support options offered by the platform for more timely and efficient responses to their queries.

Customer Support

Conclusion

In conclusion, Castle Market offers traders a diverse range of assets and high leverage options through the user-friendly MetaTrader 5 platform. The extensive asset selection for varied trading preferences, while the platform's accessibility and leverage choices attract both novice and experienced traders.

However, “Unauthorized” regulation implies that the platform does not hold the necessary regulatory approval from the specified authority. Additionally, the limited provision of market analysis tools will hinder traders seeking comprehensive insights. Navigating Castle Market requires careful consideration of the advantages against the drawbacks, emphasizing the importance of thorough research and risk management in the trading journey.

FAQs

Q: What trading assets are available on Castle Market?

A: Castle Market provides a range of assets, including stocks, bonds, commodities, currencies, options, and futures.

Q: What is the minimum deposit required?

A: The minimum deposit varies based on the chosen account type, ranging from $20 for the Awesome Account to $5,000 for the VIP Account.

Q: What payment methods does Castle Market accept?

A: Castle Market accepts payments through debit/credit cards via Stripe and Payscout platforms, as well as cryptocurrency via Coinbase.

Q: Is Castle Market regulated by any authority?

A: No, Castle Market is currently listed asUnauthorized” by the National Futures Association (NFA) and operates under a Common Financial Service License. “Unauthorized” implies that the platform does not hold the necessary regulatory approval from the specified authority.

Q: What trading platform does Castle Market use?

A: Castle Market utilizes the MetaTrader 5 (MT5) trading platform, known for its user-friendly interface and advanced features.

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FX1494189055
more than one year
Castle Market has an array of options for trading - stocks, commodities, even cryptos. Their high leverage up to 1:3000 for smaller accounts is quite striking. I liked the fast withdrawal feature and the no dealing desk policy.
2024-05-15 14:00
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