Noble Markets – Can You Trust This Broker?

Website URL: https://noble-markets.com

Founded: 2018

Regulations: No License to Operate

Languages: English

Deposit Methods: Credit Cards, Debit Cards, Wire Transfers, Bitcoin

Minimum Deposit: $5,000

Free Demo Account: Yes

Number of Assets: N/A

Types of Assets: Forex Currencies, Indices, Stocks, Commodities, Cryptocurrencies

Trading Accounts and Conditions

Noble Markets offers their customers the following types of trading accounts:

• Basic: To open a Basic account, you first need to make an initial deposit of $5,000. The EURUSD spreads for this account stand at 2.5 pips.
• Gold: To use this type of account, you first need to make a deposit of $10,000. The EURUSD spreads for this account type stand at 2 pips.
• Platinum: For this type of account, the minimum deposit you are asked to make is $25,000. The EURUSD spread for this account is 1.6 pips.
• VIP: The VIP account users have to first make a minimum deposit of $50,000. The EURUSD spread for this account is 1.1 pips.

All accounts are offered a maximum leverage level of 1:500.

Noble Markets – Advantages

Here are the possible advantages of doing business with Noble Markets:

• High Leverage

This broker offers their customers a leverage ratio of a maximum of 1:500. This allows traders to use all types of trading strategies with ease. However, we must also warn you that such high leverages come with equally high risks, which is why most of the financial regulators across the world have imposed a limit on how much leverage can be offered by a broker. The only country where you can still use such high leverages is Australia.

• Range of Trading Instruments

When we logged into this broker’s demo account, we found a wide range of trading instruments on offer. You can choose to trade in CFDs on Forex pairs, a large number of stocks, worldwide indices, commodities as well as an array of the top cryptocurrencies.

Noble Markets – Disadvantages

The advantages we have mentioned are not enough for us to recommend this broker to any trader. Noble Markets has some serious disadvantages because of which we would say that it best to stay away from this broker. Here is what we have found out about this broker:

• Anonymous Unregulated Broker

The first big issue we found with Noble Markets is that this broker is virtually anonymous and unregulated.

When we checked their website, we found out that Noble Markets has omitted to provide basic corporate and licensing information. The only information we have is a UK-coded phone number and a name – Noble-Markets Limited. There is not physical address provided, so we do not know where this brokerage or its parent company has been incorporated.

Since the phone number provided is a UK-based number, we checked the FCA’s (Financial Conduct Authority’s) online registry to see if this broker was listed as regulated. We did not find Noble Markets’ name there.

Thus, if you contract with this broker, you will be doing business with an anonymous and unregulated entity, which is very dangerous. Such brokers are not bound by the law and so can do what they like with your money.

Plus500

$100

Minimum Deposit

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• Unfair Withdrawal Condition

Another worrisome indication that Noble Markets cannot be trusted with your funds is their withdrawal condition. According to this condition, you will not be allowed to withdraw your funds from your account if you do not meet the trading turnover target. You need to make at least 30 trades on your deposit before you will be allowed to withdraw your money.

No legitimate broker will prevent you from taking money out of your own account. They may charge a fee, but they won’t stop you from withdrawing your funds.

• Processing and Withdrawal Fees Unknown

Noble Markets states they will charge their clients processing and withdrawal fees, however, the broker fails to mention how much these fees will be. So, the only way you will find out is when you actually make a withdrawal request. And, of course, if you haven’t met your trading volume target, then you will not be able to withdraw your money at all!

• Web-Based Trading Platform

Noble Markets does not offer their clients the use of a professional trading platform such as the MT4 (MetaTrader 4) platform. Instead, what you will get is a web-based interface that is quite shabby. There are few features that can help you with trading.

In contrast, the MT4 (and the new MT5) trading platform offers you a range of features that can make trading much easier. You get to use tools for charting, technical market indicators for analysis, and even trading bots to assist you with automatic trading. All of these features can be customized to suit your trading style.

• Very High Spreads

The spreads for the Basic account start at 2.5 pips for the EURUSD currency pair. This is much higher than the market standard of 1 pip to 1.5 pips. In fact, the only time you will get decent spreads with this broker is if you choose to trade on the VIP account, but for that you need to deposit $50,000.

• Very High Initial Deposit

Noble Markets requires you to make an initial deposit of $5,000, which is just ridiculous. The market average is within the range of $100 to $250, and there are many very good brokerages that ask you to deposit as little as $5 to start trading with them.

Conclusion 

Noble Markets may look like a legitimate broker, but it isn’t. This broker is operating illegally and anonymously, and its terms and conditions are unfair to say the least. The trading conditions are not favorable for traders, and the platform they have offered is just not up to the mark. We strongly recommend that all traders avoid trading with this broker.

Noble Markets

2.5

User Experience

3.3/10

Payment Options

2.3/10

Security

2.4/10

Support

2.2/10

Reputation

2.3/10

Pros

• High Leverage
• Range of Trading Instruments

Cons

• Anonymous Unregulated Broker
• Unfair Withdrawal Condition
• Processing and Withdrawal Fees Unknown
• Web-Based Trading Platform
• Very High Spreads