WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Switch Markets

Australia|2-5 years|
MT5 Full License|Australia Appointed Representative(AR) Revoked|High potential risk|

https://www.switchmarkets.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

SwitchMarkets-Demo

Cyprus
MT4
22

Influence

B

Influence index NO.1

Philippines 4.18

MT4/5 Identification

MT4/5 Identification

Full License

22
Server Name
SwitchMarkets-Demo MT4
Server Location Cyprus

Influence

Influence

B

Influence index NO.1

Philippines 4.18

Surpassed 22.30% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

https://www.switchmarkets.com/
https://www.facebook.com/switchmarketscom
https://twitter.com/Switch_Markets

Licenses

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

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

Switch Markets International PTE Ltd

Abbreviation

Switch Markets

Platform registered country and region

Australia

Company website
X
Facebook
Instagram

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-12-03
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • AustraliaASIC (license number: 001283063) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

Switch Markets · WikiFX Survey

Users who viewed Switch Markets also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Decode Global

8.64
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

MultiBank Group

8.95
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

GO MARKETS

8.99
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Switch Markets · Company Summary

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 contained in this article is for general information purposes only.

General Information & Regulation

Feature Information
Registered Country Australia
Found 2019
Regulation ASIC, SVGFSA
Market Instrument forex, metals, indices, CFD shares, cryptocurrencies, and more
Account Type Standard and Pro
Demo Account yes
Maximum Leverage 1:500
Spread Vary on the account type
Commission Vary on the account type
Trading Platform MT4, MT5
Minimum Deposit $50
Deposit & Withdrawal Method Visa, Mastercard, Bank Wire, Digital Currencies, Neteller, Skrill, FasaPay, Ngan Lurong, Perfect Money, PayTrust, Union Pay, Interac, and DragonPay (PaymentAsia).

Switch Markets, a trading name of Switch Markets International PTE Ltd, is a relatively new retail trading broker established in Australia in 2019 that gives you easy market access to buy and sell various financial instruments.

You can trade online via the intuitive MT4 & MT5 trading platform, which is available for desktop, web and mobile devices. I like how the broker has various trading account options for all trading strategies. There is a small minimum deposit of just $50 and convenient account funding methods with no fees.

Here is the home page of this brokers official site:

home page

Other advantages of this broker include a free VPS for new clients, helpful trading tools, plenty of educational resources and 24/5 multilingual support. I think they can be a great choice for anyone looking to trade with minimal fuss and in a regulated environment.

Switch Markets International PTE ( 202040285G) Ltd is an authorized representative of its parent company, Royal ETP LLC, which is based in St Vincent and the Grenadines.

General Information & Regulation

Note: The screenshot date is February 9, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

Switch Markets have a great range of financial markets right at your fingertips. Choose from more than 180+ tradable instruments available with Switch Markets at just the click of a button. The broker offers the following assets: forex, metals, indices, CFD shares, cryptocurrencies, and more.

• Forex– 65 currency pairs, including a range of majors, minors and exotics

• Indices CFD – 26 indices, including the FTSE 100, Nasdaq 100 and Nikkei 225

• Shares & ETFs CFD –Over 1829 CFD shares and ETFs, including popular stocks like Twitter, Facebook and Amazon

• Commodities–15 commodity CFDs, including gold, silver and energies like crude oil and natural gas

• Cryptocurrency CFDs– 41 cryptocurrency CFDs: popular cryptos like: Bitcoin, Litecoin, Ethereum and Ripple

Market Instruments

Account Types

Switch Markets offers a choice of trading account types, including Standard and Pro accounts. Both accounts require a minimum deposit of $50, so clients are at liberty to choose the account types that suit them. There are accounts suitable for Day traders, trend followers, scalpers, EA traders, High-frequency and Discretionary traders. No matter your trading type and style, they have got you covered!

Account Types

Demo Accounts

A demo account is available for practice purposes. This can be a useful way to familiarize yourself with the brokers platforms, products and services. Many traders start by testing trading strategies on a demo account until they gain the confidence to switch over to a real account.

• Zero risk trading

• Build your confidence as you trade

• Develop trading strategies

• Practice skills, mindset and discipline needed to trade live

• Get familiar with the MT4 platform and how it works with Switch Markets

• Test your strategy without any stress

There are no limits on the demo accounts. You can try two account types; Pro and Standard and see which suits your trading needs better. A demo account with Switch Markets is accessible forever, there is no limit as long as you trade. Then, when youre ready you can open a live trading account by clicking “Start trading today” at any time. Please be aware that inactive demo accounts are deactivated after 45 days of inactivity.

Leverage

The leverage offered varies depending on the market. Customers can trade forex with leverage up to 1:500. Indices are offered up to 1:200, commodities up to 1:50, and share CFDs up to 1:20.

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Spreads and commissions with Switch Markets are scaled with the accounts offered. For example, the Standard account has spread from 1.4 pips with no commission, while the Pro account holders can enjoy spreads as low as 0.0 pips but have to pay a commission at $7 round lot.

Spreads & Commissions

Trading Platforms

With Switch Markets you have the opportunity to trade on the award-winning MetaTrader4 platform and MetaTrader5. Traders can use the industry-renowned MetaTrader4 (MT4) platform which is available as both a browser-based WebTrader and a desktop application that can be downloaded to Windows or Mac. Since being released in 2005, MT4 has become one of the most popular platforms among traders and brokers.

Despite being slightly dated from a UX perspective, the platform is still easy to use and navigate. Opening and closing trades is simple and intuitive, and on top of this, it is packed with additional features to improve the overall trading experience. There is a range of technical tools and charts to assist with market analysis. Plus, you have the option of setting up price alerts to notify you when assets hit a value of your choosing.

Trading Platforms

Trading Tools

equips traders with a robust array of trading tools to facilitate strategic and informed trading. Highlights include a complimentary VPS for automated trading, an Economic Calendar for tracking market events, and a Currency Strength Meter for gauging currency dynamics. Practical calculators for profit estimation, swap costs, and margin requirements ensure traders can make well-informed decisions. For risk management, the broker offers a suite of Expert Advisors, including a Value at Risk EA, alongside educational resources through free access to HowToTrade.com. Additionally, the platform supports social trading with PAMM and MAM systems, providing a comprehensive toolkit that caters to traders' diverse needs in an accessible and professional manner.

 Trading Tools

Deposit & Withdrawal

Switch Markets allows traders to deposit and withdraw funds to and from their trading accounts using a generous selection of payment methods. You can choose from any of the following funding methods: Visa, Mastercard, Bank Wire, Digital Currencies, Neteller, Skrill, FasaPay, Ngan Lurong, Perfect Money, PayTrust, Union Pay, Interac, and DragonPay (PaymentAsia).

Deposit:

Most deposit methods, including bank wire transfers for EUR, GBP, and USD, are fee-free. Digital currency deposits incur a small 0.8% fee and are processed within one working day, supporting a wide range of cryptocurrencies such as ADA, BCH, BTC, ETH, and USDT. The platform provides near-instant processing for many e-wallet and local payment system deposits, covering currencies like CAD, EUR, GBP, USD, IDR, VND, THB, and MYR. Some options, including CNY deposits, may take up to one working day to process. Switch's deposit services are characterized by their efficiency, broad currency support, and competitive processing times, offering users a seamless experience for funding their accounts across various payment systems.

Deposit:

Withdrawal:

Switch offers over 10 withdrawal options with no fees for most methods. Bank wire transfers are available in EUR, GBP, and USD, typically processed within 3-5 business days. Digital currency withdrawals incur only a flat network fee and are processed within one working day for multiple cryptocurrencies. Several e-wallet and local payment options provide almost instant transfers once processed, supporting various currencies including CAD, EUR, GBP, USD, IDR, VND, THB, and MYR. For CNY, PHP, and some other currencies, processing times range from the next working day to 1-3 business days.

Withdrawal

Bonuses

Switch Markets claims to offer a 100% first-deposit bonus. Deposit as little as $100 and they will match you up to $5,000. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task.

Customer Support

The broker provides you with access to a multilingual client support team, who are polite and prompt in response. You can contact the Switch Markets support team 24/5 via email or by chatting with them on their 24/5 live chat accessible from the brokers website. You can also fill in the online contact form so that their customer service will respond to you. Email: support@switchmarkets.com. You can also follow this broker on social networks such as WeChat, Twitter, Facebook, and Instagram.

Pros & Cons

Pros Cons
• ASIC-regulated • Regional restrictions
• Multiple tradable assets and funding options • No direct customer support
• Demo accounts available
• Minimum deposit (50)
• MT4 supported

Frequently Asked Questions (FAQs)

Q 1: Is Switch Markets regulated?
A 1: Yes. It is regulated by Australia Securities & Investment Commission (ASIC).
Q 2: At Switch Markets, are there any regional restrictions for traders?
A 2: Yes. Switch Markets does not provide trading services to anyone residing in Yemen, US, Iran, North Korea. You must satisfy yourself that dealing with our products is permitted under the laws of the country that you reside.
Q 3: Does Switch Markets offer demo accounts?
A 3: Yes.
Q 4: Does Switch Markets offer the industry-standard MT4 & MT5?
A 4: Yes. Switch Markets supports MT4 and MT5.
Q 5: What is the minimum deposit for Switch Markets
A 5: The minimum initial deposit to open an account is $50.
Q 6: Is Switch Markets a good broker for beginners?
A 6: Yes. Switch Markets is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

News

Is Switch Markets trustworthy ?

NewsIs Switch Markets trustworthy ?

2024-03-07 13:52

Switch Markets, a trading name of Switch Markets International PTE Ltd is a relatively new retail trading broker established in Australia in 2019 that gives you easy market access to buy and sell various financial instruments.

WikiFX
2024-03-07 13:52
News
Is Switch Markets trustworthy ?
WikiFX report: 4 Steps to Becoming an Introducing Broker

NewsWikiFX report: 4 Steps to Becoming an Introducing Broker

2022-04-15 15:39

Becoming an Introducing Broker can be the easiest method to increase your income, process, and explain all the benefits of being a CWG Markets Client. New forex brokers have different ways to enter and offer forex trading services in one of the most fascinating and lucrative markets in the world. One way to do so is by becoming an introducing broker (IB). Switch Markets shows you how to become an IB.

WikiFX
2022-04-15 15:39
News
WikiFX report: 4 Steps to Becoming an Introducing Broker

Review 9

9 Comments
Write a comment
All(9) Latest Positive(5) Neutral(4)
Scroll down to view more
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com