Evolve Markets is an up and coming, cryptocurrency focused, CFD and forex broker operating from St Vincent and the Grenadines. Due to their crypto only approach they focus heavily on privacy, security, and simplicity. They also allow you to trade with some of the best tools as they are predominantly Meta Trader based. In this Evolve Markets review, we will go through the account setup, deposits and withdrawals, fees and much more, that you should know before getting started.
To get started with Evolve Markets just go to their clean and professional looking site, enter an email and password, and download Meta Trader 4 or 5 for Evolve. MT4 and MT5 are available for Linux, Windows, iOS and conveniently for Android and iOS mobile devices however all new users must sign up with the current MT5 platform. Multiple accounts in different currencies are allowed. Evolve Markets also offers demo accounts for each account type so you can try out the accounts before committing your hard-earned crypto funds.
Currently, only LTC and BTC are supported however they are looking to add more cryptocurrencies in the future. MT4 accounts are also funded with Bitcoin Instant (BTI) which is equal to 0.000001 BTC. Probably the most attractive feature for certain users is that Evolve Markets requires no verification which is nice and not often the case with other brokers. As mentioned in the introduction to this Evolve Markets review this a key feeling when trading with this broker: privacy, speed, and simplicity made possible through cryptocurrency based accounts. This may however not suit all users as Evolve Markets aren’t regulated in a financial hub and US residents are unfortunately not accepted.
Deposits and Withdrawals
As Evolve Markets is a cryptocurrency-based broker the deposit and withdrawal process couldn’t be simpler. Simple scan the QR code and send the coins, they will be there after one blockchain approval.
There are no fees and only a minimum of 0.005 BTC or equivalent for withdrawals applies. This is a plus for those looking to trade with Evolve Markets, no fees or large minimum first deposit.
Tools and Specifics
With 50 currency pairs, 10 indices, 9 commodities markets and 12 cryptocurrency pairs, Evolve Markets offers a very competitive range of trading instruments, similar to those offered by other popular crypto accepting brokers SimpleFX, FXTM and FXOpen. Cryptocurrency markets have the added benefit of being open 24/7 so they can be traded around the clock.
Leverage depends on the instrument with forex and CFDs having a maximum of 1:500 and crypto trading pairs 1:50. Apart from the range of tools available as a part of the MT5 suite, the usual trade types including stop loss, take profit, trailing stop and stop out, hedging and scalping are also supported.
EA robots are also supported on Evolve Market’s MT5 platform for greater trader flexibility.
Spreads are variable and commission is charged as a flat 0.75% for cryptocurrency trading pairs and $3.50 US per side on other instruments. As is standard across the industry triple swaps are charged on Wednesday nights going on Thursday to account for weekend positions.
Evolve Markets Ltd
Cedar Hill Crest
Villa Kingstown VC0100
St Vincent and the Grenadines
Customer support can be contacted via their ticket service and email firstname.lastname@example.org. If you have any general inquiries then they can also be contacted by emailing email@example.com. Unfortunately, no phone support is available.
Evolve Markets Summary
As with all relatively new businesses in the cryptocurrency sphere, trust and reputation are always very important factors for users. A relatively young broker, Evolve Markets will have to earn the trust of its users. However, they have already gone quite a long way to providing a secure trading environment by putting incoming deposits directly into cold storage, offering 2 Factor Authentication and by not requiring any personal information (this way there is none for hackers or anyone else to steal). The complete privacy offered to users is also not something very common today in the industry and their lack of deposit and withdrawal fees make them very attractive. If after reading this Evolve Markets review you would like to sign up and begin trading, then you can do so here.
Disclaimer: Buy For Bitcoin does not provide any warranties towards the accuracy of the statements in the above Evolve Markets review. Any content on this site should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to perform your own research of the platform. Trading and investing in cryptocurrencies involves considerable risk of loss and is not suitable for every investor.