77markets Forex Review

Read our full 77markets review to get exact details about their safety, accounts, spreads, platforms, assets, support, and much more. Our unbiased 77markets opinion allows our readers to decide whether 77markets is a reliable broker.

77markets Forex Broker History

77markets is a relatively new forex broker in the online trading industry. The brand operates under the legal entity Leadcapital Corp Ltd, and it was launched back in 2023. From the start, the broker has been offering mainly CFDs targeting international traders, meaning it is not focused on any single specific region of the world.

77markets has a simple yet functional website, but lacks a proper live chat plugin despite offering access to WhatsApp, which acts as both a live chat and phone support channel. Despite having decent experience, the broker can still be considered a young broker who lacks an operational track record.

77markets broker safety

Safety is one of the most important considerations when evaluating offshore forex brokers. 77markets is regulated by the Financial Services Authority (FSA) of Seychelles, an offshore regulatory authority that provides basic oversight but is not considered strict compared to more reputable authorities.

Under FSA requirements, 77markets must keep client funds segregated from company operating funds. This is a standard but essential protection that reduces the risk of client money being misused for business expenses.

According to its terms and conditions, 77markets offers a negative balance protection policy, meaning traders should not lose more than their deposited capital. This policy is especially important for beginners and high-leverage traders, as it limits downside risk during extreme market volatility.

Despite this, the broker is still offshore-based and not as reliable as other reputable players in the sector.

77markets Broker Review of Accounts

77markets uses a tiered account structure with four account types: Discovery, Gold, Platinum, and Exclusive. Each tier increases deposit requirements in exchange for marginally better spreads and services.

77markets Discovery Account has very high spreads, and minimum deposit requirements are also high:

• Minimum deposit – $250
• Maximum leverage – 1:300
• Spreads – From 3 pips
• Commissions – $0
• Minimum lot size – 0.01 lots

77markets Gold Account offers lower spreads than Discovery, but they are still high, while the minimum deposit is extremely high:

• Minimum deposit – $10,000
• Maximum leverage – 1:300
• Spreads – From 1.4 pips
• Commissions – $0
• Minimum lot size – 0.01 lots

77markets Platinum Account offers spreads on par with industry-accepted standards, but the minimum deposit required is much higher than previous accounts:

• Minimum deposit – $50,000
• Maximum leverage – 1:300
• Spreads – From 1 pip
• Commissions – $0
• Minimum lot size – 0.01 lots

77markets Exclusive Account offers truly competitive spreads, but it is not for average forex traders, and only professionals can acquire it due to extremely high deposit requirements:

• Minimum deposit – $100,000
• Maximum leverage – 1:300
• Spreads – From 0.8 pips
• Commissions – $0
• Minimum lot size – 0.01 lots

Overall, the account structure is not competitive, mainly due to extremely high deposit thresholds relative to the benefits offered.

77markets instruments

77markets provides access to a broad selection of CFD instruments, covering the most popular asset classes. Traders can speculate on forex pairs, commodities, indices, stocks, and cryptos.

Most of these instruments are offered as CFDs, allowing traders to use leverage and trade both rising and falling markets. Maximum leverage is capped at 1:300, which is high enough for aggressive trading strategies but also increases risks. This asset range is adequate, but the broker’s high deposit requirements make it difficult to actually employ this advantage.

77markets Reviews of Trading Platforms

77markets primarily relies on a custom web trading platform. This platform is accessible via a browser but is not advanced. 77markets also claims to provide access to TradingView platforms, which is an advanced trading terminal. Mobile trading is unclear because the QR code to download mobile apps does not work, so it is not obvious whether the broker actually allows mobile trading at the moment.

Overall, the broker offers a mixed bag when it comes to trading platforms and trading experience, which is a big red flag.

77markets Forex Review of Extra Features

77markets does not focus heavily on additional trading features. There are no copy trading services, social trading tools, or algorithmic trading support. Account managers are assigned to traders who have live accounts, and training is also provided only for clients who operate live accounts, which is a disadvantage. Traders have to first invest and open a real account and then get trading education, which is not suitable for beginners.

In the end, this structure limits accessibility for retail traders and beginners, as most added value is locked behind very large capital requirements to actually open a live account with reasonable spreads.

77markets Reviews of Customer Support

Customer support at 77markets is provided mainly through email and WhatsApp. There is no built-in live chat system or direct phone support. WhatsApp support can be convenient for some users, but it is not ideal for everyone who does not use this messenger service, and it is often difficult to install it on a Windows PC. On the positive side, the support is available in several languages, enabling international traders to get help in their native language.

Overall, customer support is functional but limited, and the lack of a standard live chat reduces convenience.

77markets Deposit and Withdrawal

77markets supports a wide range of payment methods, including credit and debit cards, Skrill, Neteller, and bank wire transfers. The broker states in its terms and conditions that it does not charge internal fees for deposits and withdrawals, but third-party fees usually apply from payment providers themselves.

Deposits via cards and e-wallets are typically instant, while bank transfers usually take 1-3 business days. However, the broker has yet to disclose profit withdrawal processing times. This is a lack of transparency, and it creates uncertainty, as traders can not accurately predict how long profit withdrawals will take. This is especially disadvantageous when we consider how high the deposit requirements with 77markets are.

77markets Review Conclusion – Can you trust 77markets?

77markets is a regulated offshore forex and CFDs broker offering basic protections, but it falls short in competitiveness. This is due to high deposit requirements, wide spreads, limited trading platform access, and overall weak education, making it unsuitable for most retail forex traders. The support is only provided via WhatsApp, which is famous for its security flaws. Our verdict: Not recommended for serious traders.

FAQs on 77markets

Is 77markets a scam?

The 77markets scam is not directly confirmed yet, but the broker has a license from an offshore jurisdiction, and very expensive spreads and high deposit requirements.

What is the 77markets minimum deposit?

The minimum deposit at 77markets is $250, which is required for an ancestry-level account with 3-pip spreads.

Is 77markets a cheap broker?

No, 77markets are relatively expensive due to high spreads and substantial deposit requirements for competitive account tiers.