Succedo Markets is an emerging forex and stock trading platform that aims to provide a diverse range of trading services to users. However, its legitimacy and transparency have raised considerable concerns. This article will conduct a comprehensive evaluation of Succedo Markets' company background, legitimacy, account types, trading platform, tradable products, and customer support to help investors better understand the potential risks and opportunities associated with this platform.
Company Background
Succedo Markets is a forex and stock trading platform with an official website at https://www.succedomarkets.com. The domain was registered on December 22, 2023. According to information on the official website, Succedo Markets is registered in Saint Lucia, and relevant checks have confirmed its formal registration in this location.
Is Succedo Markets Legal?
Succedo Markets is not supervised by any valid regulatory authority, casting doubt on its legitimacy and credibility. Typically, regulated brokers adhere to strict industry standards to ensure the safety of clients' funds. Therefore, in the absence of regulation, investors should exercise particular caution when using this platform.
Account Registration Process:
- Visit the official website and click on the registration button
- Fill out the application form
- Submit identity verification/documents for my number verification
- Make a deposit and start trading
Account Types and Trading Conditions
In addition to offering demo accounts for testing, Succedo Markets provides three types of live accounts to meet varied customer needs. These include Standard, ECN, and VIP accounts. All live accounts offer leverage of up to 1:500. The spread starts at 1.5 pips for standard accounts, 1.8 pips for ECN accounts, and VIP accounts enjoy a low spread of 0.2 pips. Both Standard and ECN accounts do not charge trading commissions, while VIP accounts charge a $7 commission per lot. However, the platform does not disclose the minimum investment requirements for each account, which could potentially confuse investors.
Trading Platform
Succedo Markets uses the MT5 trading platform, renowned for its user-friendly interface and robust features. Users can access the platform via the web and mobile devices (including iOS and Android), enjoying a flexible trading experience with advanced analytical tools.
What Can You Trade with Succedo Markets?
The platform offers over 275 market instruments, including forex, indices, futures, and stocks, allowing users to capitalize on market opportunities with a diverse investment portfolio. The forex market, being the largest financial market globally, supports trading in several popular currency pairs such as EUR/USD, CAD/USD, and USD/JPY. Index trading enables investors to track overall market trends. Futures contracts support commodity futures trading, and stocks represent ownership in companies.
Customer Support
Email: info@succedomarkets.com
Phone: +971 56 458 6589
Conclusion
Succedo Markets is a forex and stock trading platform that, despite offering a range of trading tools and account types, faces questions regarding its legality due to a lack of valid regulation. Investors should carefully assess the associated risks when considering using this platform to ensure the safety of their funds.
