Combining state-of-the-art tech with unparalleled trading services, Salma Markets has fast become one of the world’s leading forex brokers
Founded in 2014, Salma Markets prides itself on its international presence and ability to provide account holders with access to highly accurate prices. In fact, Salma Markets works with globally leading liquidity providers, including Barclays, Saxo Bank, CitiBank, HSBC, JP Morgan Chase, Morgan Stanley, and UBS. Above all else, Salma Markets’ powerful leverage, various bonuses, minimal fees, and diverse transfer methods position this broker among the very best in the industry. Believe it or not, Salma Markets has awarded account holders with sports cars in the past and it currently has an ongoing sweepstake for a Lamborghini.
In 2019, Salma Markets built an impressive customer base of more than 900,000 accounts opened across more than six Asian countries: Indonesia, Malaysia, Singapore, Vietnam, Thailand and China. The broker’s client base in that year came to around four million, with more than 60 million orders.
Account types
Salma Markets offers its standard STP Account. STP (Straight Through Processing) is a forex brokerage model that involves sending client orders directly to the market without passing them through a dealing desk. It works on the following basis:
l Minimum Deposit: $1
l Spreads: From 0.2 pips
l Commission: None
Salma Markets also offers a swap-free trading experience. The broker operates out of Indonesia and Malaysia, which are majority Muslim countries. Therefore, their standard account type works with Islamic customers in mind, with no interest on overnight positions.
Platforms
Salma Markets’ account holders trade and manage their portfolios on MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms will give you access to all of the forex pairs and assets that are available on Salma Markets. Moreover, whether you are new to trading or have years of experience, you will certainly appreciate MetaTrader’s superior tools and customer support features.
Beginners can access tutorials and work one-on-one with a dedicated account manager. Similarly, professional traders may programme their own algorithm, utilise a variety of technical indicators, and receive guidance from the MT4 and MT5 customer support team, if needed. Above all else, MT4 and MT5 is famous for its highly accurate prices and immediate execution of orders, which adds another layer of protection to traders if markets become volatile.
Equally as important, software for MT4 and MT5 can be installed on Windows devices, iPhones, and Android smartphones. Regardless of which one you choose, the apps will allow you to manage your portfolio, place orders, and open/close positions. MT4 and MT5 software is also available to Apple MacBook users. However, they have to first download an external app (for free) before installing MT4 and MT5 on their MacBook or desktop device.
If you have a Windows computer, an iPhone, or an Android, MT4 and MT5 can be downloaded directly from Salma Markets’ website. After that, they may install MT4 and MT5 by visiting the platform’s website.
Leverage
Salma Markets will give you up to 1000:1 in buying power, which is very large when compared to the rest of the industry. However, 1000:1 is the maximum leverage level, which is offered to traders that have less than $500 in their account. Meanwhile, your buying power goes down to 700:1 and 500:1 when your balance reaches $500 and $1,000, respectively. The leverage will further decline to 300:1 for accounts that have between $1,500 and $1,999. After that, buying power becomes 200:1 when your funds go over the $2,000 threshold.
There are two things to note about this: firstly, even at 500:1, Salma Markets’ leverage is still much higher than what most brokerage firms will offer; secondly, brokers will lower your buying when you deposit additional funds in order to minimise their risk. For example, if a trader has $2,000 and 1000:1 in leverage, they can invest up to $2m. When the markets go down, the account holder may lose all their $2,000 deposit. Even the smallest price movement can turn their balance negative. As a result, Salma Markets lowers account holders’ leverage when their balance increases in order to protect the trader and the broker. Keep in mind that Salma Markets also has a negative balance protection policy.
Trading costs
As previously outlined, Salma Markets doesn’t charge traders any commissions, swaps, or other fees. You may have to incur the spread cost. Given how tight Salma Markets’ spreads are, these fees
will be minimal.
Assets
You can trade stocks, commodities, and indices through Salma Markets. These instruments are exchanged as CFD contracts, but precious metals are traded against the US Dollar: Gold (XAU.USD) and silver (XAG.USD). In addition, account holders have access to almost 30 major currencies and two bitcoin pairs (BTC.USD and BTC.EUR). There are no exotic forex pairs, but Salma Markets’ asset list does encompass all the majors. Furthermore, the market indices include those of Australia, Britain, France, Germany, and others, alongside major US stock indexes.
Deposit and withdrawal methods
One of the best features that Salma Markets offers is that traders can choose between many methods to fund their account. Salma Markets broker works with banks from all over the world. You may also transfer money via Visa, MasterCard, FasaPay, Neteller, and Skrill. Above all else, Salma Markets broker doesn’t charge any transaction fees when you deposit funds. The only exception is Skrill, which has a commission that equals 7.5% the transfer size. For example, if you deposit $100 through Skrill, Salma Markets will charge you a $7.50 fee. All transfers are processed instantly, but bank wires may take between 1 to 5 business days.
Award-winning
Salma Markets is a leading and award-winning forex broker and was recently named “Best Global Financial Market Broker” in 2018 by The European. As the choice broker for professionals and beginners alike, Salma Markets offers a variety of proven trading instruments, user-friendly features, as well demos and professional forex trading accounts.
Further information
