Evolve Markets is a Bitcoin-based trading service offering forex, CFDs, and cryptocurrency trading. It is an offshore broker featuring the STP execution model using the market standard MT5 trading platform to its clients.
Learn more about Evolve Markets and its trading benefits and setbacks by reading this broker review in full.
Evolve Markets Background & Safety
Evolve Markets Ltd. operates the Evolve Markets brand of trading brokerage since 2016. The company is registered as a private International Business Company firm in Saint Vincent and the Grenadines.
As an International Business Company, Evolve Markets is not under compulsion to adhere to the capital sufficiency requirements, to segregate client funds from company funds, and to safeguard clients’ fund by insuring them when insolvency takes place.
In this case, the broker’s regulatory credential is weak and needing a lift. Also, in effect, the broker can operate with high leverage levels as it does. However, as a Bitcoin-backed company, the broker claims that it utilizes some hardware and software solutions to keep company and client funds safe. The only question is the legitimacy of this claim as its regulatory body is not known for overseeing its brokers’ funding activity.
The team behind the foundation of Evolve Markets is a mixture of forex operations experts and Bitcoin technology enthusiasts. The combination of Bitcoin and forex systems is a unique setup in the brokerage community. This is where Evolve Markets sets itself apart from other brokers. Its innovative approach to forex trading is a nice-to-have asset for a relatively young broker.
Evolve Markets Features & Fees
Evolve Markets provides its clients access to several financial markets including forex, cryptocurrency, indices, and commodities.
At present, the broker features 12 currency pairs with high leverage levels, 50 currency pairs with up to 1:1000 leverage, 10 indexes in CFDs with leverage of up to 1:500, and 9 commodity pairs with up to 1:500 leverage.
The broker offers two account types: Classic and Pro. Using the Classic account, traders will have access to a zero commission spread. On the other hand, the Pro account provides users with tight spreads but has commission charges. For the initial account funding, account users will have to deposit Bitcoin as both accounts are Bitcoin denominated. The highest leverage level for both accounts is 1:500 for forex trading. Micro lots are also available for retail traders using MT5.
The account types have no minimum initial deposit requirement. This gives traders the convenience to fund their trading accounts based on their preferred trading capital.
Evolve Markets has an easy account opening procedure. The user will just need to submit a valid email address and fund the account with Bitcoin. No other personal information is asked from users. The broker is also accepting U.S.-based traders.
Trading in the crypto market, users will be charged by a 0.075% trading fee. For forex, indices, and commodities trading, a 0.0035% trading fee is at work.
Evolve Markets only offers one funding method to its users – Bitcoin. Account users can deposit and withdraw funds in Bitcoin. The good thing is that the broker does not charge deposit and withdrawal fees to clients. Other digital tokens are available for withdrawals including litecoin and tether.
Below are other trading features and conditions under Evolve Markets.
Evolve Markets Trading Platforms & Tools
Evolve Markets features two trading platforms for traders to choose from: Evolve WebTrader and MT5.
Evolve WebTrader can be accessed using any browser type. Evolve WebTrader is a fast online trading platform designed with an intuitive interface and equipped with a variety of indicators, tools, and features.
From MT4, Evolve Markets transformed its platform offering to the more advanced MT5 platform. This is known to be a multi-asset trading platform for traders accessing different financial markets. The platform also features cutting-edge tools, Market Depth, and advanced trading tools including over 80 built-in technical indicators, 21 timeframes, complete order types, and one-click trading.
MT5 is available in several versions including a desktop terminal, web-platform across all devices, and a mobile app downloadable in iOS and Android devices.
Evolve Markets is a young promising broker. It continues to evolve into becoming a well-rounded broker by upgrading its trading arsenal. Meanwhile, the broker’s offered high leverage levels are both an advantage and disadvantage for traders. However, it needs to level up in terms of regulatory credential and supported funding methods.