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Markets.com (SafeCap Investments Ltd) Review

Overall Rating: (2.455)
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Total Reviews: 30
Last Updated: 2014-09-21
Special Notes:

There is currently an FPA Traders Court guilty verdict against Markets.com.  The FPA recommends caution dealing with this broker unless this issue can be resolved.

Formerly GFCMarkets.com.  Other websites of this company include GoForex.com.

There is a note on a Polish government website listing SafeCap Investments Poland as being unauthorized.  CLICK HERE to verify.
 

Click here to join live discussion of Markets.com (SafeCap Investments Ltd) on our forum
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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 1   reviews REVIEWS submit review
ID Filed Case Verdict
2013-054 2013-05-17 GUILTY

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2010-05-05
Review: We haven't tried using Markets.com as a forex broker. If you have a trading account with them, please leave a review here.

Roy, india , India

Rating:
Date of Post:2014-07-10
Review: Forex trading is illegal in India, but all the Indian customer details and cards details are using in Srilanka. its doing by two Indians there names : Daniel Patel and Adithiya Goyel. in the name of Markets.com. so kindly be take necessary action to protect india and indian clients. Srilankan office Address Platinum building, Srilanka.

Michal, , Poland

Rating:
Date of Post:2014-04-24
Review: I have had very bad experience with them.In 2012 I started trading with them and initially I was making some steady profit.But then my account manager called me with some good advice on what to invest to.All of that was wrong and I started losing money.Because of that I decided to stop trading with them.But for another year they have kept on calling me asking to come back to trading with them.I refused until a month ago when someone called from them saying they specialise in helping people who lost some money in the past.They promise to quickly boost my income from trading .I agreed.I started trading with them again relying on my new account manager advice as he presented himself a profesionalist who helped many who lost money in trading.The advice he gave me, made me losing half of my capital in just the second day of trading.This is something I would never do it myself even if I had the worst day of trading.I will never ever trade with this scammers again.Thanks

Samy, aljizah, Egypt

Rating:
Date of Post:2014-03-30
Review: I Type my experience with markets.com all honesty
They are a very good .. Very Good Support .. Fast Deposits .. Fast Withdrawals . I am happy with them

shahadat, bangladesh, Bangladesh

Rating:
Date of Post:2014-03-10
Review: hello,
recently i opened two accounts with this broker, and deposited only $100 on each account. after trading few trades i found their spreads r high so i plan to withdraw the fund. but they are not allowing me bcz of account verification issue. i uploaded my documents 28th of february. but my accs r not verified yet, i contact with their live chat and they informed me they dont know anything and cant inform me when my acc will be verified. i sent an email to their verification department as well but no response from as usual. i have all the document of deposition in that broker. im requesting FPA team to solve the issue asap and also adviced other member to stay away from this broker.

Aasif, Kuwait, Kuwait

Rating:
Date of Post:2014-02-20
Review: markets.com is a big fraud company. The account manager was calling me 1000 times asking to invest in markets.com. He convinced me start with 100$ which I did eventually. I was promised that i would get 100$ on initial investment of 100$. Also they would train me how to do investment. Nothing as such happen and they self proclaimed account manager stopped calling me. When i tried to withdraw some money I am told to submit lot of documents which I did. They were never satisfied with any of it. I asked them to return back my invested money which they clearly declined. I am still in a shock.
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David Alvarez, Lima, Peru

Rating:
Date of Post:2014-01-03
Review: Hello:

I'm going to post here again regarding this broker called "Markets.com", due to the following fact:
Some days ago, when I entered in their platform with my username and password, I realized that all the "history" of my operations had been erased, as if they were not there before. All of this happened after I sent an inquiry to their support desk (which is terrible, by the way) regarding some rollovers that they had deducted from my account, which in my opinion, were huge, compared to the amounts traded in those operations.

Of course, that inquiry is still pending of resolution, and it probably will in the future, considering their poor knowledge on the subject. So far, I haven't received any email from them regarding that inquiry of mine.

It has passed many days since that inquiry was sent and, to date, I haven't received any response from their mediocre help desk.

I have to say, that this broker is really a shame in the way they operate. For me, it has been a nightmare to be involved with this subpar broker.

What I can guess about all this is that: Perhaps I discovered something they didn't want me to discover (regarding their rollovers)? Perhaps that's why they erased all the "history" of my operations, just to not make them more questions about that issue? I'm just wondering...

All in all, this broker is really a subpar broker, to say the least. Their supposed "help desk" or "support chat" is really mediocre.
If they have erased all the "history" of my operations just to don't question them about the rollovers that they deduct in open trades overnight, well... I think they are really bad in the way they conduct their business.

In my humble opinión, this broker (as a subpar broker which in fact it is), don't deserve any good from anyone. They only deserve to be out of business in the short run.

Regards!

2013-12-24 1Star Hello:

Let me tell you all that this broker (Markets.com) is one of the worst brokers that exists out there. Their customer support is the worst I've seen compared to other brokers in a long time. The customer support of this broker is really unhelpful by all means. I can say that it's really laughable. The representatives on the chat are ignorant, they don't respond to your questions with accuracy. I think they are not well prepared to answer questions that need thorough answers.

Another thing is that, their platforms (MT4 and SIRIX) are really unstable, both of them show glitches very often. Whenever I ask them about the glitches in their platforms, they neglect that fact, simply saying that their platform runs perfectly well, without fails, which is not the case

Besides that, they seem to run plug in programs to make you lose trades, because, whenever I open an operation, prices always seem to reach my predefined quote (being my operation an entry order or a limit order), in order to make me lose the trades. This has happened to me many times, and it's very suspicious. I've realized about this fact because, many times I've seen that prices inside their platform, have huge spikes in short amounts of time, without fundamental news in that time frame, that can support those huge spikes. As if the broker would be trading against you.

Next, the spreads of this broker are way too high compared to other broker's spreads. Their spreads are ridiculously high in my opinion. Talking about rollovers, in many ocassions they have made mistakes in the calculation of rollovers. Many times they have colllected higher amounts of rollovers than they should.

This broker is really a mess, in every sense of the word. The fact that it is based in Cyprus, instead of another city in the European Union, that is a huge red flag in my opinion.

This broker doesn't deserve to be operating in the market, in my opinion. It is a shame having to deal with this unprofessional and misleading broker.

I hope more people could be aware about the performance of this unprofessional and misleading broker. They really don't deserve to have customers. They only deserve to be out of business.

This is my honest opinion about this crappy broker. In a nutshell, this broker is pure garbage. You'd better stay away from them.

Regards!

prosperity2013, Chiang Mai, Thailand

Rating:
Date of Post:2013-09-02
Review: Markets.com rep contacted me and offered me compensation. I accepted it and have received the money. The matter is now satisfactorily resolved.

2013-05-10 I would like to share my most unpleasant experience with Markets.com with other members. On the 18th of March 2013, the day that Cyprus had major banking problems, Markets.com was having serious problems with their their computers and trading platforms. I opened 3 positions in the morning. After sometime, when I came to check, I noticed that two of the positions had vanished. I immediately went on a live chat and explained my problem and was told that everything would soon to be taken care of. That day I had five live chats and three phone calls with them. For ten days till the 28th of March, trades that were closed would suddenly reappear on my trading platform with huge losses. Markets.com could not fix the computer glitch. My life came to a standstill.I stopped going out, cancelling appointments, waking up every hour to check and make sure that closed trades with huge losses would suddenly not appear and wipe out my principle.I was afraid that markets.com would refuse to take responsibilty and reimburse me.Finally, based on the suggestions given by them, I opened a new account.But the aggravation did not stop there. Markets.com refused to reimburse me part of my losses.For a month and a half they gave me the run around treating me like an imbecile with no respect or courtesy.I have traded with many companies in the past but never ever
been treated so badly.

I was given a $100 bonus as compensation and promised that it would be with no strings attached. Meaning that even if I withdrew money, they would not take the $100 out of my account. But as soon as I withdrew some money, they took the money out. Finally after I told them that I was going to lodge a complaint with the FSA and CYSEC, they sent me a waiver and said that if I signed it, they would reimburse the money. I refused. I saw no reason why I should sign a waiver to get back money that is rightfully mine. Then when I mailed them that I was going to go ahead and post messages on the websites and have FSA look in to this,they suddenly put the money back in my account.They are dishonest and unethical and I claim that Markets.com tried to scam me of my money since they felt that they could do so and get away with it.

Due to the problems with the computer, I could not close some of the trades and they are at a loss . As soon as things turn around, I will close these positions and close my account with Markets.com. But I do not trade with them anymore.

I am in the process of complaining about them to all the authorities they are regulated with and also seek financial compensation from FOS.I am doing this more as a matter of principle than money.These people need to be held accountable for harrassing me so much and putting me through such aggravation. No brokerage has a right to scam its clients of their hard earned money and the least they could have done is to have the courtesy to look into my repeated requests to investigate the matter further and return money that is rightfully mine.

Sure would be thankful if those of you with more experience and knowledge could give me guidance and feedback. You can write to me at [email protected]

Thank you all for your time.

Monjed Alqenaei, Kuwait, Kuwait

Rating: Escalated to FPA Trader's Court
Details: Monjed Alqenaei vs Markets.com | Guilty
Date of Post:2013-05-13
Review: I am a customer of Markets.com for about two years, I have made loss and gains but mostly losses, until the end of 2012., and their service was very good.
Everything changed after I started making good profits few months back, and I was surprised to see how they started to act:
1. At first they canceled my Islamic account saying if I trade EA I can't have Islamic account, while it's not mentioned in their website or terms in conditions, and they didn't even notify me before making this actions! this way I lost money
2. They have sent me a threatening letter saying that I hacked their systems (!!!) and this is why I made profit! can you believe it?? a person who makes losses is fine but when he makes good profits he is not!!
3. They are refusing to send me a withdrawal of $50,225.99 and the interests they charged me.
4. I’m sure that they will not send me the spread too, which might be around $17,000.
4. They blocked all my accounts and I can't access my account at all, like I never existed!!
This company is a scam ! they stole my money I made in a legit way! If you care about your money stay away of this danger that’s called (Markets.com).

ellict, , Indonesia

Rating: No Rating
Date of Post:2012-11-20
Review: Good broker, had account with the for a while, fast withdrawal
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