Score
Cyprus
|
2-5 years
| https://www.sheermarkets.com
Website
Rating Index
MT4/5
Full License
SheerMarkets-Live
Influence
C
Influence index NO.1
Cyprus 3.94
MT4/5 Identification
Full License
United KingdomInfluence
C
Influence index NO.1
Cyprus 3.94
LicensesLicensed Entity：Sheer Markets (Cyprus) Ltd
License No. 395/20
Single Core
1G
40G
1M*ADSL
Cyprus
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
sheermarkets.io
sheermarkets.com
VIP is not activated.
| Sheer Markets Review Summary | |
| Founded | 2016 |
| Registered Country/Region | Cyprus |
| Regulation | CySEC |
| Market Instruments | Cash NDF CFDs, Forex, Cryptos, Equities, Indices, Commodities |
| Demo Account | ✅ |
| Leverage | Up to 1:30 (retail)/1:100 (professional) |
| Spread | From 1.2 pips (Classic account) |
| Trading Platform | MT5 |
| Minimum Deposit | $/€200 |
| Customer Support | Contact form |
| Tel: +357 25861400 | |
| Email: support@sheermarkets.com | |
| Address: 331, 28th October Avenue, Lido House Block 2, Unit 365, 3106, Limassol, Cyprus | |
Sheer Markets, founded in 2016 and registered in Cyprus, is regulated by CySEC. It offers the MT5 trading platform and supports a range of instruments including forex, cryptocurrencies, indices, and equity CFDs. The broker provides multiple account types and a demo account, but it does not support MT4 and lacks popular e-wallet or credit card payment options.
| Pros | Cons |
| Regulated by CySEC | No support for popular e-wallets or credit card payments |
| Various trading instruments | Inactivity account fee charged |
| Demo accounts available | High minimum deposit |
| MT5 provided | |
| Various account types |
Sheer Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC) as a Market Maker (MM) with license number 395/20.
Sheer Markets offers different types of trading instruments: cash NDF CFDs, FX and emerging market currency CFDs (FX & EMFX CFDs), cryptocurrency CFDs (Crypto CFDs), and equities, indices, and commodity CFDs (Equity, Indices & Commodity CFDs).
| Tradable Instruments | Supported |
| CFDs | ✔ |
| Forex | ✔ |
| Cryptos | ✔ |
| Equities | ✔ |
| Indices | ✔ |
| Commodities | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Sheer Markets offers four main account types: Sheer Classic, Sheer Classic Plus, Sheer Prime, and Sheer Prime Plus. In addition, Sheer Markets provides professional and Corporate accounts. The Professional account requires meeting specific trading experience and asset criteria, while the Corporate account requires submission of relevant company documents for opening.
| Account Type | Classic | Classic Plus | Prime | Prime Plus |
| Minimum Deposit | $/€200 | $/€2,500 | $/€200 | $/€2,500 |
| Maximum Leverage (Retail) | 1:30 | |||
| Maximum Leverage (Professional) | 1:100 | |||
| Spread | From 1.2 pips | From 1.0 pips | From .0 pips | |
| FX CFDs Commission | See fees section | From USD 4/lot/side | From USD 3.5/lot/side | |
| NDF CFDs Commission | From USD 5/lot/side | From USD 4.5/lot/side | ||
Sheer Markets fee structure is relatively high compared to the industry average. The SHEER CLASSIC and CLASSIC PLUS accounts do not charge commissions, but their spreads start from 1.2 and 1.0 pips respectively. The SHEER PRIME and PRIME PLUS accounts follow a low-spread plus commission model, with forex trades incurring a commission of $4 and $3.5 per side per lot, respectively. For stock trading, U.S. equities are charged at $0.05 per share with a minimum execution fee of $10, while European and UK stock indices are charged at 15 basis points (bps), which aligns with industry standards.
Regarding overnight interest, the platform provides detailed information by asset class. For example, the overnight rate for index CFDs is the one-month interbank rate plus or minus 2.5%. Swap points for forex instruments fluctuate depending on the currency pair, while the holding costs for cryptocurrencies are significantly higher, with annualized financing rates for long positions in BTCUSD and ETHUSD reaching up to 45%. Additionally, an inactivity fee of €10 per month is charged for accounts with no trading activity for six months.
Sheer Markets offers different leverage ratios for retail and professional clients, based on the asset class and in line with regulatory requirements.
Retail Clients:
| Asset Class | Maximum Leverage | Initial Margin |
| Major Forex Pairs (e.g., EUR/USD) | 1:30 | 3.33% |
| Minor/Non-Major Forex Pairs | 1:20 | 5% |
| Gold / Major Indices | 1:20 | 5% |
| Other Commodities / Non-Major Indices | 1:10 | 10% |
| Shares | 1:5 | 20% |
| Cryptocurrencies | 1:1.333 | 75% |
Professional Clients:
| Asset Class | Maximum Leverage | Initial Margin |
| Major Forex Pairs | 1:100 | 1% |
| Minor Forex Pairs | 1:25 | 4% |
| Commodities, Metals, Indices | 1:20 | 5% |
| Shares | 1:10 | 10% |
| Cryptocurrencies | 1:1.333 | 75% |
Sheer Markets offers the MT5 trading platform.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Windows, macOS, Web, iOS, Android | Experienced Traders |
| MT4 | ❌ | / | Beginners |
The minimum deposit at Sheer Markets is $/€200.
Sheer Markets supports deposits and withdrawals via bank wire transfers, accepting EUR and USD with no additional fees. Deposits typically take 2-5 business days to process, while withdrawal requests are handled within 24 hours but may take up to 5 business days for funds to reach the bank account.
The broker’s priority was to integrate an efficient client onboarding solution. Sheer Markets is licensed by CySEC and LFSA.
Sheer Markets does not charge any deposit or withdrawal fees, which I appreciate. However, since they only support bank wire transfers, I might incur fees from my bank for processing the transfer. The broker doesn’t charge additional fees, so I find this to be relatively transparent.
Withdrawals at Sheer Markets are generally processed within 24 hours, which I find pretty quick. However, the funds may take up to 5 business days to reach my bank account, depending on my bank’s processing times. I find this a bit slower than some other brokers who process withdrawals more quickly, but it’s still reasonable.
The minimum deposit for Sheer Markets is $200, which is reasonable, but a bit higher than what I’ve seen with some other brokers, where the minimum can be as low as $50. For me, this amount isn’t a huge issue, but it could be a bit steep for traders who are just starting out or those who prefer to begin with a smaller investment.
Sheer Markets offers four main account types: Sheer Classic, Sheer Classic Plus, Sheer Prime, and Sheer Prime Plus. The Classic accounts have no commission, but the spreads start from 1.2 pips for Classic and 1.0 pips for Classic Plus, which is a bit higher than the spreads I usually prefer. The Prime accounts offer tighter spreads starting from 0.0 pips, but they charge commissions, which range from $3.5 to $4 per side per lot. For me, I tend to prefer the Prime accounts because I value the lower spreads, despite the added commission.
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