OnlineMarketShare Review

OnlineMarketShare Review

General Information

Broker Name: OnlineMarketShare

Broker Type: Forex

Country: Commonwealth of Dominica

Operating since year: 2020

Regulation: Tire

Address: Cnr Old and Church Street, Roseau, The Commonwealth of Dominica

Broker status: Active

Customer Service

Phone: +441758688512

Email: [email protected]

Languages: English, German

Availability: 24/5

Trading

Trading platforms: MT4

Trade platform Time zone: GMT +2

Demo account: YES

Mobile trading: YES

Web-based trading: YES

Bonuses: N/A

Other trading instruments: YES

Account

Minimum deposit ($): $250

Maximal leverage: 1:300

Spread: YES

Scalping allowed: YES

 

REVIEW CONTENT

    • GENERAL INFORMATION
    • FUNDS TRADING AND SECURITY
    • TRADING ACCOUNTS
    • THE TRADING CONDITIONS
    • TRADING PLATFORM
    • ONLINEMARKETSHARE’S TRADING PRODUCTS
    • CUSTOMER SERVICE
    • CONCLUSION

OnlineMarketShare Review 2020

OnlineMarketShare info

General Information

OnlineMarketShare is a recently founded broker operating from the Commonwealth of Dominica. Despite their young age, they seem to provide quite a promising brokerage service.

The broker is one of the few that hasn’t had any customer-damaging issues reported against them. That provides quite a significant boost in their security rating, which is crucial when deciding whether to use an online broker or not. However, security is not the only factor, as there are many other components necessary when considering a quality service.

So to help you decide whether OnlineMarketShare is the right broker for you, we’ve prepared a list of their strong suits.

OnlineMarketShare choose

•       Vast Knowledge Database

The broker prepared an extensive database containing all the information you need to get into trading and to improve rapidly. They have a glossary that lets you wrap your head around the key trading terms, which might sound confusing at first. Once you get the hang of that, you can learn some more about trading from their FAQ.

·      No Added Charges

OnlineMarketShare has no commissions when depositing, trading or withdrawing. That puts them ahead of the curve, as many competitors aim to bolster their profits by adding small fees here and there. However, even a 1% charge, as insignificant as it may sound, can make a huge difference. It tips the scales of fairness against the trader and makes them always play against an edge. The small commission can make it difficult to maintain profit long term. So the fact that the broker didn’t include any of those makes it a more suitable home for traders.

•      OnlineMarketShare Functional Website

The people that designed the OnlineMarketShare website have certainly outdone themselves, ensuring it was both functionally sound and a pleasure to look at. Your view of the important details isn’t obstructed by ads or needless clutter, and everything is laid out in a few tabs. Furthermore, the website is easy to navigate. In fact, all the crucial info you need is accessible in a few clicks.

 

Funds Trading And Security

OnlineMarketShare Trading And Security

It’s currently unclear whether OnlineMarketShare is regulated or not. They don’t have any license info on their website, but they are a new broker, so that might have just been an oversight. For now, it’s best not to assume anything and move forward by judging their reputation.

Moreover, as far as reputation goes, they are one of the few brokers that haven’t had any issues with their customers. It’s not rare that you’ll see people complain about how a broker tricked them and somehow stole their money. Those sorts of complaints are present even with established brokers. When we searched for complaints like those about OnlineMarketShare, there were none, which is an extremely rare occurrence and indicates a high level of trustworthiness.

We value that much more than a possible lack of regulators, especially since even licensed services often manage to pull some malicious maneuvers.

Accounts at OnlineMarketShare

While there aren’t any demo account options at OnlineMarketShare, the Bronze account, which is the lowest, only requires a $250 investment. So, the barrier for entry isn’t that high.

There are also three other live account types you can go for, named after different precious metals including Silver, Gold, and finally, Platinum. The highest account provides you with a solid advantage in tighter spreads, but even the rest have great specifications for their cost. And as spreads are more or less the only thing that changes between account tiers, you can be certain that you’ll be getting a quality experience whether you decide to invest $250 or $50000.

Also, that makes moving up account types a luxury rather than a necessity. Some competitors set up their account structure so that the lower account types aren’t even worth using, and basically force their users to go for the more expensive ones. At OnlineMarketShare, you won’t ever feel pressured to move up and can invest according to your leisure.

OnlineMarketShare Trading Accounts

Here are some of the specifics about each account type:

·         BRONZE

Minimum deposit: $250

Leverage: 1:300

Spread: from 2.8 pips

Trade size: from 0,01

Unlimited open positions

·         SILVER

Minimum deposit: $2000

Leverage: 1:300

Spread: from 2.5 pips

Trade size: from 0,01

Unlimited open positions

·         GOLD

Minimum deposit: $10000

Leverage: 1:300

Spread: from 1.5 pips

Trade size: from 0,01

Unlimited open positions

·         PLATINUM

Minimum deposit: $50000

Leverage: 1:300

Spread: from 0.1 pips

Trade size: from 0,01

Unlimited open positions

OnlineMarketShare trade

Trading Conditions at OnlineMarketShare

The conditions you trade under at OnlineMarketShare all excel at providing a balanced service, aimed at sound traders. They have a leverage rate of 1:300 across every different account type, which can help you trade but stops you from getting ahead of yourself. The spreads don’t fluctuate much if you exclude the Platinum account, which leads to an excellent service across the board.

The security rating of the broker is, as we already mentioned, quite high. In fact, safety is one of the main concerns of traders worldwide, as many new brokers try and use cheap tactics to essentially steal your money. Naturally, nobody wants to trade in a place where someone might just decide that all your hard-earned funds are theirs. There are no such worries at OnlineMarketShare, as they haven’t had a single incident of the sort.

Lastly, account typing is developed in such a way that everyone can find something suitable for them. Even for those that don’t want to invest much, the Bronze account provides great value, and that only goes up as you move towards Silver and beyond. High spenders can go towards Platinum, and others can stay at more moderate levels without missing out too much.

The Trading Platform

Trading Platform

While a lot of new traders come out with a custom platform and try to set new industry standards, most fail in that regard. OnlineMarketShare didn’t have such ambitions and went with MetaTrader4 instead. We’re very glad they made that choice, as MT4 has become industry standard for a reason. It works well on both older and newer devices and is a great introductory tool while being functional for higher-level traders as well. The software contains tons of analytical functions that can help you stay ahead of the game and make positive trades.

To add to that, there’s also a web client that keeps nearly full functionality while being accessible from a browser. That way, you’ll be able to use any laptop or desktop to trade without the need to download anything. Lastly, there’s also a mobile platform that you can get for free from the Apple App, Google Play, and Microsoft online stores.

 

OnlineMarketShare’s Trading Products

OnlineMarketShare provided a great number of assets, especially considering how young they are as a broker. The selection of 145 instruments includes many of the most prominent products to buy and sell. The only clear flaw is the lack of cryptocurrencies, which many traders avoid due to their stability being low. Here’s a list of what you can expect to see when you open the trading window:

  • Fifty currency pairs– When it comes to currency trading, the variety is definitely there with fifty pairs. You’ll find familiar options, such as USD/CAD,  EUR/USD, and GBP/USD.
  • Energies – OnlineMarketShare has multiple different energy options, like crude oil, and natural gas options present on their website.
  • Spot metals – You can also buy or sell either of the two most common precious metal options; silver and gold.
  • Spot shares – It’d be ridiculous if a broker named OnlineMarketShare didn’t have a good selection of shares to trade. Luckily, that isn’t the case, as you’ll see household names. For instance, they include Apple, Amazon, Google, and Tesla, in their selection.

 

Customer Service

OnlineMarketShare hasn’t fully developed its support team, as a live chat option is missing on its website. However, there are phone and email options you can rely on instead, which can be even faster given the circumstances. Realistically, you probably won’t even need to rely on support that much. You’ll certainly be able to find all the info you need, as we doubt you’ll face many problems.

Phone number: +441758688512

Email: [email protected]

Customer Service

OnlineMarketShare Review Conclusion

While there are a few flaws in the service that OnlineMarketShare provides, such as their unclear regulation status, all of those can be attributed to the fact that the firm is still fresh. It’s nearly certain all those small problems will be resolved in the near future. But even before they are resolved, the broker certainly provides a service worth using.

MT4 is a must-learn platform, and any experienced trader will vouch for it. The trading conditions give you enough incentive to upgrade your account without forcing you to do so, resulting in a balanced experience. Therefore, their reputation is completely devoid of any stains, and they seem to be a great place for beginners to start their trading journey.

Overall, although they do need to iron out some small issues, OnlineMarketShare provides a better service than a large portion of competitors. At the very least, you should try out what the firm offers, and decide for yourself.

OnlineMarketShare infographic

OnlineMarketShare Review
  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 4.97 (129 reviews)