Overview of Harvest Markets Review
The broker Harvest Markets is operational from the offshore country Saint Vincent and the Grenadines. The offerings of Harvest Markets include three trading accounts, attractive leverages and tight spreads. The broker claims that the provided three counts are swap-free. From the broker’s website, it can be seen that it is attracting traders from Malaysia. However, this is not our main concern but the broker has several other major problems and we will focus on them in this Harvest Markets review. Read full Harvest Markets review here.
About Harvest Markets:
Standard, Pro, and ECN are the 3 trading accounts that require a minimum investment of $10, $1000, and $10000. As massive as 500:1 leverages are facilitated on these three accounts to ensure higher trading benefits. The spreads provided are variable and has ranged from 0.2 pips to 2.2 pips. These spreads are commissioned or commission-free according to the type of choice.
A firm situated offshore on Saint Vincent and the Grenadines called Harvest Group Limited is the owner of the brand name Harvest Markets. The broker claims to be regulated by SVG based local financial regulator FSA. Nevertheless, the FSA is a very reluctant and non-credible regulator. Also, most of the brokers from SVG are scam brokers.
One of the offerings of Harvest Markets is a Copy Trading facility. This facility provides traders to copy moves of high earning trader automatically that allows hassle-free profits. The minimum investment of $10 is affordable for a basic account but what other two premium accounts need exceptionally high investments and unacceptable. On the ECN account spreads offered are attached with high commission and raise the cost of trading multilevel. Also, 500:1 leverages are very attractive sadly they are banned in all the credible markets. Therefore trading with caution is always recommended for higher leverages.
A MetaTrader that is world-leading and jam-packed with advanced feature trading platform is provided to its clients. The features include EA, Automatic Trading Strategies, Best Charts, Multiple Account Management System, Markets Indicators of 60 types and others. Unfortunately, the nature of the Harvest Markets is unregulated and less credible and the presence of MT can not alter it. Several payment options can be seen available at Harvest Markets such as electronic wallets like Skrill, Neteller, FasaPay, China Union Pay, and Bank Wire Transfer. To our surprise, the credit and debit cards are not available.
Is Harvest Markets scam or legit?
The broker Harvest Markets is based in the offshore country of SVG. It is not properly regulated and victimise Malaysian traders. Trading conditions are absurd and card payments are not facilitated. Therefore it is a scam broker 2020.