ShineMarkets offers its clients 3 account types, depending on their initial investment amount. All of them have “shining” names, provide variable spreads, NDD environment and high leverage levels (except for the Sparkle account).
PAMM & VIP services are also available with this broker.
While the minimum initial deposit of $10 required by ShineMarkets looks attractively low, one has to invest at least 5 thousand bucks in order to get decent spreads. Spreads on both Light & Bright accounts are above the average range of 1.0 – 1.5 pips on EUR/UISD. By comparison, Trading212 (holding FCA license) offers spreads averaged 0.9 pips for the EUR/USD pair. For further information and comparison, you may look up real-time spreads of 15 leading brokers here.
ShineMarkets allows news trading, hedging, and scalping, but scalping is permissible on special scalping authorized accounts.
The Company. Security of Funds
Shine Markets Limited
Established in 2016, ShineMarkets is a UK-based broker that offers trading in currency pairs, share & indices CFDs, as well as precious metals on MetaTrader 4 and ActTrader platforms.
The company behind the brand, Shine Markets Limited, is registered in the UK, but is not authorized to provide financial services by the FCA (nor by any other regulator).
All companies offering or selling financial services or products in the UK have to be licensed by the FCA, which supervises their activities and also provides a compensation scheme in case of bankruptcy. Unlicensed companies are not subject to client protection requirements and what is worse, they could be running investment scams.
That is why we advise traders to avoid non-regulated (and offshore) companies, as doing business with such is extremely risky.
Like most brokers, this one supports the MetaTrader 4 (MT4), and also uses ActTrader (Bolt) platform.
The Bolt platform is offered as web and desktop versions. It is flexible, easily to customizable and features built-in one-click trading capabilities.
With ShineMarkets you will be offered desktop and mobile versions of MT4. The platforms is globally popular for its ease of use and offers a number of technical analysis indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to automate their trades.
Methods of Payment
ShineMarkets offers its clients the following payment methods: bank wire transfer and via credit/debit cards, as well as e-wallets such as Skrill, Neteller, and WebMoney.
ShineMarkets is a UK-based forex and CFD broker that supports the popular MT4 platform and claims to offer STP execution. Our main concern with ShineMarkets is that it is not licensed by FCA, nor by any other authority.
ShineMarkets Review Conclusion
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