Our Evolve Markets Review
Evolve Markets is an offshore broker that is crypto-oriented. A new age CFD broker only accepts crypto deposits. The platform was created in 2016. Since then, it has maintained a great reputation amongst users. It is regulated as an International Business Company. The platform offers users several notable features such as fast deposit and withdrawal times, cold storage, high leverage, and a high degree of transparency.
Evolve Markets Account Types
Only one account is offered on Evolve Markets. All trading instruments come with a commission and raw spreads, which vary depending on the specific trading instrument. The account offers access to the MT4 and MT5 platforms. Setting up a live account is fast. Users can only make deposits in Litecoin and Bitcoin.
Trading Platforms
Clients have access to the MT4 and MT5 trading platforms. The platforms are accessible on PC and Mac. They can also access the platform via Android and iOS devices as well as a web-based platform, which can be accessed via a modern web browser. With the two platforms, users have access to various charts and timeframes. Users also get access to numerous indicators.
Leverage and Trade Size
The maximum leverage on Evolve Markets is 1:500 for forex pairs and 1:50 for crypto. Leverage is the same on MT4 and MT5. The only exception is for Tezos, which has a leverage of 1:2. While leverage of 1:500 is rare for gold and palladium, Evolve Markets offers it.
Evolve Markets supports micro-lots. The minimum trade lot size is 0.01 for all assets and additional volume setups. It comes with maximum lot sizes of 100 for FX major fx pairs and 50 for minors. All other assets have a maximum lot size of 100 except crypto assets. For Bitcoin, the maximum lot size is 250 lots while Ethereum has a maximum lot size of 500 lots. All other crypto coins come with lot sizes between 250 and 500. The Palladium and Platinum precious metals have a Freeze level set at 1 point.
Fees
For indices, forex, and commodities, the commissions are set at 0.0035% for both MT4 and MT5. For crypto coins, the commission is set at 0.075%. Evolve Markets is transparent about the fees they charge. They even offer guidance on how to calculate commission on the different trading instruments. Commissions are usually charged at the opening of a trade. The broker also charges users a swap fee.
Tradable Assets
On Evolve Markets, traders have access to five asset classes. The first is forex, which offers traders access to 50 fx pairs, including all majors, minors, and some exotics such as the Scandinavian currencies with USD and EUR, the NOK/SEK crosses, USD/THB, RUB, TRY, MXN, PLN, HKD, HUF, and CNH, some of which come with the EUR as their base.
Precious metals come with all of the 4 majors of gold, silver, platinum, and Palladium. The spot gold and silver are quoted in the Euro. The trading sessions come with a one-hour break at 21:00 and close at 21:45 on Friday.
The Commodities category only includes energies. Evolve Markets list the WTI and Brent as well as Natural Gas.
Indices are 10 in total. They include less common ones such as the CAC 30, Hang Seng 33, and IBEX 35.
The final category is cryptocurrencies, which is the platformโs specialty. There are 12 major crypto assets listed on the platform.
Spreads
Spreads vary depending on the specific trading instrument and offer traders the industry average for STP brokers, which are typically very low.
Deposits and Withdrawals
There is no minimum deposit amount on Evolve Markets. The broker does not charge users a deposit fee. To make a deposit, you do not need to undergo a KYC process such as confirming your ID. Withdrawals are made in Bitcoin and Litecoin. The minimum withdrawal amount is 0.005 BTC. The broker does not charge a withdrawal fee. It takes a few hours to 24 hours at the most to make a withdrawal.
Education and Trading Tools
There is limited educational material on the platform. However, the broker has a blog section and social media pages where they make regular updates. For instance, you will find articles on how commissions on the platform work and how swap rates work.
Customer Support
Customer support is only accessible via a customer support ticket. They include a help section where traders can get answers to the most common questions.
Summary
Evolve Markets is a unique broker with a focus on the crypto industry. The setup up process is quick and easy and there are no complex KYC requirements. Traders have access to the MT4 and MT5 platforms. In general, Evolve Markets is a great online broker for those in search of great spreads, fast execution time, and good industry ratings.