What is 305 Markets？
305 Markets, an international brokerage firm headquartered in Seychelles, provides a broad selection of financial instruments such as cryptocurrency. It currently operates without valid regulatory oversight, which raises concerns about its legitimacy and liability.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros & Cons
Pros:
Multiple account types: 305 Markets offers four account options, catering to diverse trading preferences and strategies.
MT5 trading platform: Utilizing MetaTrader 5 enhances trading experiences with advanced features, comprehensive analysis tools, and customizable interfaces.
Multiple security measures implemented: The broker prioritizes account security by employing various measures such as privacy policies, Anti-Money Laundering (AML) procedures, Know Your Customer (KYC) and fund segregation etc.
Tight starting spreads: Competitive spreads starting from 0.0 pips enables traders to access favorable pricing conditions, potentially enhancing profitability.
Cons:
Unregulated: Operating without regulatory oversight raises concerns about transparency, investor protection, and adherence to industry standards of the broker.
Commissions charged: While offering tight spreads, the broker imposes commissions on trades, which can impact overall trading costs and profitability.
Relatively new player: Being a newer entrant in the market in 2022 leads to skepticism regarding the broker's reliability, track record and customer service quality.
Is 305 Markets Safe or Scam？
When considering the safety of a brokerage like 305 Markets or any other platform, it's important to conduct thorough research and consider various factors.
User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.
Security measures: 305 Markets implements robust security measures including stringent privacy policies, Anti-Money Laundering (AML) procedures, and Know Your Customer (KYC) protocols to safeguard client data, prevent illicit activities, and ensure regulatory compliance.
Additionally, 305 Markets employs margin calls and stop out mechanisms to protect clients' accounts. Moreover, segregated accounts ensure client funds are kept separate from the broker's operational funds, providing an additional layer of security and protecting clients' funds in the event of the broker's insolvency or financial difficulties.
In the end, choosing whether or not to engage in trading with 305 Markets is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
305 Markets integrates cryptocurrency trading as one of its market instruments, recognizing the growing demand and potential within the digital asset space. By offering access to cryptocurrencies, such as Bitcoin, Ethereum, and others, the broker enables clients to participate in the rapidly evolving crypto market, facilitating opportunities for investment diversification and potential capital appreciation.
Account Types
305 Markets offers four distinct account types to accommodate various trading preferences: Standard, ECN, Premium ECN, and RAW ECN. Each account type features Expert Advisor support, Trailing Stop functionality, daily reports, and 24/5 customer support.
With options ranging from spread starting at 3.2 pips for Standard to 0 pips for RAW ECN, traders can select the account type that best suits their trading style and objectives. However, the broker does not disclose minimum deposite for each account, if you are interested to choose trading with this broker, you should contact with them directly to get full clarification on this to ensure their threshold in line with your cost considerations.
How to Open and Account？
To open an account with 305 Markets, you have to follow below steps:
After filling in your registration information and clicking “CONTINUE”, you will receive an account confirmation code in your email. Check your inbox to receive the code and confirm as in the example in the image below. If you have not received the email in your inbox, check your email's SPAM folder.
Once your account has been approved, you can set up your investment preferences and start trading.
Once you're logged in, you'll have access to your full dashboard.
Leverage
Regarding leverage, 305 Markets provides leverage of up to 1:100 across all account types. This leverage allows traders to amplify their trading positions, potentially increasing profits or losses. Nonetheless, it's still important for traders to carefully manage their leverage to mitigate risks and maximize returns in line with their risk tolerance and trading strategies.
Spreads & Commissions
When it comes to spread and commissions, 305 Markets offers competitive pricing across its account types. The Standard account features spreads starting from 3.2 pips with a commission of USD 3, while the ECN account offers tighter spreads from 1.6 pips with a commission of USD 5.
Premium ECN and RAW ECN accounts provide even lower spreads starting from 0.8 pips and 0 pips respectively, with commissions of USD 8 and USD 10 respectively. Traders can choose the account type that aligns with their trading preferences and cost considerations.
Trading Platforms
305Markets provides traders with access to the powerful and versatile MT5 trading platform, available for both Windows, iOS and Android and Web. With MT5, traders can execute trades anytime, anywhere across a wide range of assets including currencies, bonds, indices, stocks, and cryptocurrencies. The platform offers four execution modes, including instant execution and market execution, along with support for various order types to suit different trading strategies.
Additionally, MT5 boasts advanced technical analysis tools, automated trading systems, and trade copy functionality, empowering traders with comprehensive tools to make informed decisions and optimize their trading experience.
Deposit & Withdrawal
The broker offers multiple methods for depositing and withdrawing funds, providing flexibility and convenience to its users.
Deposits can be made through bank transfers or PIX transfers, with users required to submit proof of transfer for processing. Additionally, users can explore alternative deposit options like Bitcoin or USDT deposits on the Tron network.
Withdrawals follow a similar process, with users able to request withdrawals directly from their accounts, subject to approval by the account manager. All transactions are securely documented, and users receive notifications throughout the process.
Customer Service
305 Markets provides comprehensive customer service through phone, email, physical address, a contact us form and social media such as Instagram and Facebook. In addition, an FAQ section is for quick answers for general inquiries.
This multi-channel approach ensures accessibility and timely assistance for clients regarding account management and trading queries.
Tel: +55 (14) 9.9726-0725.
Email: contact@305markets.com.
Address: 306, Victoria House, Victoria, Mahé - Seychelles； Altamir Lisboa Ramos, 2-8, Jardim Faria, Bauru.
Conclusion
In summary, 305 Markets is an online brokerage firm located in the Seychelles, offering a wide range of trading instruments, with cryptocurrency being one of them. However, it's crucial to note that 305 Markets currently operates without valid regulations from any authorities, raising concerns about its accountability and commitment to client safety.
Therefore, you should be cautious when deciding to trade with this broker and consider alternative brokers with established regulatory oversight to mitigate potential risks.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
