Competition in the world of online trading is a fierce one. The sheer abundance of brokerages that seemingly open up with each passing day has forced many to step up their game. In this race to accommodate traders, many have forgotten the basic idea behind trading. There are many over-complicated systems out there that do more harm than good. Luckily, there are still some brokerages that keep things simple and efficient.
Today, we take a deeper look into CV Markets. This brokerage was founded a couple of years ago with the idea of simplifying online trading. We have spent some time trading with this broker to understand why it has been a popular choice for many novice traders. We were curious to know how CV Markets managed to streamline the entire trading process without sacrificing the complexity of the overall system.
This CV Markets review should give you a clear picture of this trader, and whether it is worth investing your time and money. Despite being founded in recent years, CV Markets has managed to earn respect from traders across the world. Their success can mostly be attributed to their slightly different approach to trading fundamentals. They have shifted their focus towards offering a fast and efficient system is lightning fast and run by competent people. This may sound trivial at first, but once you have tried it for yourselves, you will be able to tell the difference.
Despite the old saying “don’t judge a book by its cover”, CV Markets leaves a great first impression. Their entire website has a modern and inviting design. There are several shortcuts on the homepage that can easily direct you anywhere you want to go. Thanks to its light-weight nature, it is lightning fast, and there is no delay whatsoever. This design philosophy is present in all other aspects as well and especially on the trading platform. But before we discuss the performance of the platform, the first part of CV Markets review will focus on the user- experience of novice traders.
Quality of service
Beginners will be pleased to find out how much attention has been thrown their way. Before even opening an account, they have the ability to learn trading essentials. There is plenty of reading material on the Education Centre page, and for user comfort, it is divided into several categories. The Glossary and Asset index are there to help you understand all the terminology you will be using on a daily basis in creating a top-performing portfolio. eBooks section is reserved for a more in-depth coverage. You can brush up on your knowledge on a variety of topics ranging from technical analysis to advanced strategies.
In order to further simplify the trading process, CV Markets offers several distinct account types that are created to satisfy all types of traders, regardless of their experience, ambitions or budget. The entry point is set very low. For just $250, everyone can open an account and have access to all tradable financial instruments. The highest an average trader can go is the Diamond tier. This account type starts with $50,000 and offers dedicated account managers, trading bonuses, super tight spreads, leverage of up to 1:400 and much more. There was one account higher than Diamond, but we were unable to access it because it was invitational only.
Speed of response
Customer support is often overlooked because it takes up significant resources and isn’t necessary most of the time. However, if you ever found yourself in a situation when you needed someone’s help, you’ll know just how precious it is. Luckily, we were extremely happy to find out that CV Markets have created a great support system.
There are several communication channels available for traders. You can reach out to them in both written and oral way, depending on your preference. For a quick reply, you can use the live-chat feature that provides a polite and informative reply, or alternatively, you can talk to their support team via the telephone. There are two teams available, one in the United Kingdom and one in Australia. You can always write to them via email or the on-page form but be aware that these methods will take a bit longer to address your issue. That being said, you can expect a response within the 24hours which is still better than the industry standard. Regardless of your choice, you can expect to be greeted in a polite and professional manner.
Like we previously mentioned, CV Markets offer a light-weight platform that isn’t as rich on features as some of its competitors, but it blows them away when It comes to execution. By not being bogged down by excessive tools most users never use anyway, CV Markets manages to perform incredibly fast. There is no delay when it comes to placing orders or making any adjustments on the go. In this industry, having the ability to react quickly is priceless, so this ability must be commended.
The platform is very easy to navigate. For someone coming from the Meta Trader platform, it might take some time to adjust, but we believe that this web-based solution is a much more elegant solution that offers all the essentials tools every trader needs. After spending a couple of minutes on the platform, you will easily get to grips with everything you will need to know.
Filling your portfolio is made extremely easy. The centre portion of the screen is reserved for tradable assets. They are divided into several categories such as Forex, Crypto, Stocks and others. When you highlight your desired asset, you can monitor its real-life performance. Vital data such buy and sell price, margins, and trade sizes are kept on top, while bellow there is an overview of asset past and present performance. This chart allows you to use tools to analyse and predict future trends. As we mentioned before, this platform does not support all the tools in the trading world, but it carries the most important ones. Located on the left portion of the screen are the shortcuts that can quickly take you to anywhere you want to go. You can quickly view your opened and closed positions, deposit or withdraw funds on your account or quickly access the CV Markets support.
The make-it or break-it point for many traders will be the overall trading cost. There are many brokerages that try to hide the fact how much they charge traders. This is why we appreciate CV Market’s transparent approach. Everyone can easily calculate how much they will need to spend if they look at their terms and conditions. All costs can be basically summed up in three categories:
- Withdrawal Fees
- Dormant Account Fees
- Overnight Fees
Understanding these is easy enough, as they are elaborately explained on the website. While trading with CV Markets we encountered no hidden fees, so we can conclude we are dealing with an honest and legitimate brokerage.
Let’s get the obvious thing out the way, CV Markets does not hold any licence, nor is regulated by any financial watchdogs. While in the past this could be constructed as a red flag, in 2020, there are many reasons to avoid the official financial regulation. Many new brokerages don’t focus on obtaining these licences. Instead, their primary goal in most cases is creating the most desirable trading environment. During our time trading, we had no issues with withdrawing our funds, so we had no doubts over its overall safety.
Variety of Payment Methods
On CV Markets, you can choose one of three methods for depositing and/or withdrawing your funds:
- Credit Card
- Bank Wire Transfer
- Bitcoin Transfer
Your experience can wary between these methods, although this is rarely a fault of CV Markets. Your request is approved within a minute, however, if you decide to choose a credit card or bank wire transfer, you can end up waiting for a couple of days due to your bank policies. On the other hand, all Bitcoin transfers are executed instantly.
We had a good experience trading with CV Marketers. This a young broker that took a great effort to successfully develop all of its aspect for the benefit of traders. We rarely see this amount of dedication to providing a good experience for newcomers in this industry. We hope this CV Markets review helped clear any uncertainties you might had about this brokerage. Based on our experience, we can full-heartedly recommend it.