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About Soho Markets
Soho Markets is an online trading platform specializing in the foreign exchange (forex) market and is managed by Soho Markets Limited, established in 2020 and headquartered in Saint Vincent and the Grenadines. Unfortunately, this exchange has not received an operating license from any regulatory agency, so trading on this exchange has a high level of risk.Soho Markets offers a wide range of trading products, including forex, precious metals, commodities, stock indices and cryptocurrencies. The broker offers a variety of account types to suit traders' needs and experience, and supports popular trading platforms such as MT4, MT5 and webtrader.
Some points to note are that Soho Markets has relatively low spreads, from only 0.1 pip for major currency pairs, and does not charge transaction or withdrawal fees. However, this broker has a high leverage level of up to 1:500, which can cause great risks for traders. In addition, this floor has some terms that are not favorable to customers, such as the right to intervene in transactions, the right to change prices and the right to refuse payment.
Soho Markets customer support is available 24/7 via email, phone and live chat. However, this exchange's customer service is not highly rated, due to complaints about the ability to contact and resolve problems.
Soho Markets currently has subsidiaries regulated and supervised by different jurisdictions, such as the Republic of Cyprus and the Republic of Mauritius, however, Soho Markets LLC in St. Vincent & Grenadines is licensed to provide Global Business Company services.
This is information about Soho Markets floor. You should always be careful and research carefully before deciding to trade on any floor, especially when the floor does not have an operating license from a regulatory agency.
Soho Markets review from female trader
Soho Markets is a reputable and popular cryptocurrency trading platform in the world. Among the millions of users of Soho Markets, there is a special female trader who attracts the attention of the community. That is Nguyen Thi Hong Nhung, a young girl who has more than 500 thousand followers on her Youtube and Instagram channels.@forexqueen started trading cryptocurrencies in 2018, when the market was in a recession. However, with patience, careful research and analysis, she found profitable investment opportunities and built a diverse and effective portfolio. @forexqueen shared that Soho Markets is one of the important support tools for her during the trading process. Soho Markets has a friendly, easy-to-use interface, supports many different cryptocurrencies, features high security and low transaction fees.
In addition, @forexqueen also praised Soho Markets for its dedicated and professional customer support. She said that every time she has a problem or question about a transaction, she always receives quick and thoughtful answers from Soho Markets staff. She is also very satisfied with the promotions and incentives that Soho Markets offers to regular users.
According to @forexqueen, to be successful in cryptocurrency trading, it is not only necessary to have knowledge and experience, but also to have passion and trust in the trading platform. She advises those who are just starting out or want to learn about cryptocurrency to try using Soho Markets to experience and learn from other successful traders. She hopes that, through her Youtube and Instagram channels, she can share useful knowledge, experience and advice for cryptocurrency lovers.
@forexqueen is a typical example of the development and success of the cryptocurrency industry in Vietnam. She is not only a good trader, but also an independent, confident and beautiful woman. She is the pride of Soho Markets and the Vietnamese cryptocurrency community.
The floor has 4 main account types
HSTP account: Minimum deposit requirement is 500 USD, maximum leverage is 1:500, average spread is 2 pips, commission is 6$STP account: Minimum deposit requirement is 1,000 USD, maximum leverage is 1:500, average spread is 1.4 pips, commission is 6$
VIP account: Minimum deposit requirement is 5,000 USD, maximum leverage is 1:500, average spread is 0.5 pips, commission is 3$
ECN account: For Muslim clients, no overnight interest (swap), minimum deposit requirement is 20,000 USD, maximum leverage is 1:500, average spread is 0.5 pips, commission pink 3$
In addition, the floor also has a free demo account for customers who want to test and practice trading before switching to a real account. The demo account has a virtual balance of 10,000 USD, and can trade with all the same products and trading conditions as the real account.
Is SOHO MARKETS a scam?
SOHO MARKETS is an online forex broker based in Cyprus and registered and regulated by the Cyprus Securities and Exchange Commission (CYSEC). This regulatory organization is responsible for overseeing the operations of financial services companies, ensuring compliance with legal and ethical standards.
Being regulated by CYSEC brings many benefits to SOHO MARKETS.
First, it enhances the broker's reputation and trust among their customers. The legal framework ensures customers that the company operates according to established guidelines and is under the supervision of a competent authority.Second, regulations help protect the interests of traders and investors. This helps reduce the risk of fraud, ineffective management or non-payment, thereby ensuring the safety of the broker's customers' money and investments. In addition, these regulations promote transparency and fairness in the foreign exchange market.
SOHO MARKETS is also required to disclose information regarding its services, fees and trading conditions. They must also take measures to prevent market manipulation, insider trading and other unethical practices.
