Basic Information
Registered Region 
Australia
AustraliaOperating Period
5-10 years
Company Name
Switch Markets Pty Ltd
Company Website
Company Address
Suite 126, 117 Old Pittwater road, Brookvale, NSW 2100, Australia
Global Broker Regulation Inquiry App
WikiFX
No Regulation
Score
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/10
Switch Markets
Australia
|
5-10 years
|
Suspicious Regulatory License
|
MT5 Full License
|
Australia Appointed Representative(AR) Revoked
|
High potential risk
https://www.switchmarkets.com/
Website
Rating Index
MT4/5 Identification
MT4/5
Full License
SwitchMarkets-Demo
Cyprus
22
Influence
B
Influence index NO.1
India 3.68MT4/5 Identification
MT4/5 Identification
Full License
22
Server Name
SwitchMarkets-Demo MT4
Server Location Cyprus
CyprusInfluence
Influence
B
Influence index NO.1
India 3.68Surpassed 22.70% brokers
Biz Area
Search Statistics
Advertising
Social Media Index
Contact
https://www.switchmarkets.com/
Suite 126, 117 Old Pittwater road, Brookvale, NSW 2100, Australia
https://www.facebook.com/switchmarketscom
https://x.com/switchmarkets
LicensesLicensed Entity：SWITCH MARKETS PTY LTD
License No. 001283063
Warning: Low score, please stay away!
- It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!
2
9
Account
Related Software
Biz Area
Website
Genealogy
Relevant Enterprises
Company Summary
News
Wiki Q&A
Comment
Account
- Environment--
- Currency--
- Maximum Leverage1:1000
- SupportedEA
- Minimum Deposit$50
- Minimum Spreadfrom 0.0
- Depositing Method(16+) Neteller VISA MASTER Skrill
- Withdrawal Method(16+) VISA Neteller Skrill MASTER
- Minimum Position--
- Commission$3.5 per lot
- Products--
Updated：
MT4/5
White Label MT4
Full License MT5
3
MT4 Servers
1
MT5 Servers
159.68
Average execution speed/ms
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
Meta Trader 4
Perfect
Meta Trader 5
Perfect
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Official website
Website
switchmarkets.com
89.238.160.251Server LocationICP registration--Most visited countries/areas--Domain Effective Date--Website--Company--
Genealogy
VIP is not activated.Open Now
Relevant Enterprises
SWITCH MARKETS INTERNATIONAL PTE. LTD.(Singapore)
Active
Singapore
Registration No.
202040285G
Established
SWITCH MARKETS PTY LTD(Australia)
Active
Australia
Registration No.
640033727
Established
Company Summary
| Switch Markets Review Summary | |
| Founded | 2018 |
| Registered Country/Region | Australia |
| Regulation | ASIC (Revoked) |
| Market Instruments | Forex, Indices, Digital Currencies, Commodities and CFD Shares |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 1.4 pips (Standard account) |
| Trading Platform | MT4/5 |
| Min Deposit | $50 |
| Customer Support | 24/5 live chat, contact form |
| Email: support@switchmarkets.com | |
| WhatsApp, WeChat, Twitter, Facebook, and Instagram | |
| Social media: X, Facebook and Instagram | |
| Regional Restrictions | Yemen, US, Iran, North Korea |
Switch Markets was founded by Switch Markets International PTE Ltd in 2018 in Australia. It provides various trading assets, like Forex, Indices, Digital Currencies, Commodities and CFD Shares with leverage up to 1:500 and spread from 1.4 pips on the Standard account. Demo accounts are available and the minimum deposit requirement to open a live account is just $50. However, it is not regulated currently.
Pros and Cons
| Pros | Cons |
| Various trading assets | Revoked ASIC license |
| Demo and Islamic accounts offered | Regional restrictions |
| Commission-free account offered | |
| Popular trading platform MT4/5 | |
| Low minimum deposit | |
| Multiple payment options | |
| 24/5 live chat support |
Is Switch Markets Legit?
| Regulatory Status | Revoked |
| Regulated by | Australia Securities & Investment Commission (ASIC) |
| Licensed Institution | SWITCH MARKETS PTY LTD |
| Licensed Type | Appointed Representative (AR) |
| Licensed Number | 001283063 |
The regulation of Switch Markets is revoked. The licensed institution SWITCH MARKETS PTY LTD is different from the company Switch Markets International PTE Ltd. Besides, its license type and email address both are different from the broker.
What Can I Trade on Switch Markets?
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Digital Currencies | ✔ |
| Commodities | ✔ |
| CFD Shares | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type
Switch Markets offers two accounts types: Standard and PRO. It also offers demo accounts and Islamic accounts. Please be aware that inactive demo accounts are deactivated after 45 days of inactivity.
| Account Type | Min Deposit |
| Standard | $50 |
| PRO | $50 |
Leverage
Switch Markets' leverage is up to 1:500 for both account types. High leverage brings not only high profits but also high losses.
| Asset Class | Max Leverage |
| Forex | 1:500 |
| Indices | 1:200 |
| Commodities | 1:50 |
| Share CFDs | 1:20 |
Spread and Commission
| Account Type | Spread | Commission |
| Standard | From 1.4 pips | ❌ |
| PRO | From 0.0 pips | $3.5/lot |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web, Desktop | Beginners |
| MT5 | ✔ | Web, Desktop | Experienced traders |
Deposit and Withdrawal
| Payment Method | MinDeposit | Fee | Processing Time |
| Visa | $50 or base currency | ❌ | Within the nearest working day |
| Mastercard | |||
| Bank transfer | Within 3-5 business days | ||
| Digital currencies | 0.8% | Within the nearest working day | |
| Neteller | ❌ | Almost instant once processed | |
| Skrill | |||
| Fasapay | |||
| nganluong.vm | |||
| Perfect money | |||
| Pay trust88 | Within the nearest working day | ||
| Union pay | |||
| Interac | Within 3-4 business days | ||
| Dragonpay | Almost instant once processed | ||
| Vertupay |
Keywords
- 5-10 years
- Suspicious Regulatory License
- MT5 Full License
- White label MT4
- Australia Appointed Representative(AR) Revoked
- High potential risk
News
News Switch Markets Broker Review: License Revoked, Trust Undermined
The broker once operated under an Australian license—but after the license was revoked, it continued accepting clients. What happens when regulatory protection disappears?
News Is Switch Markets trustworthy ?
Switch Markets, a trading name of Switch Markets International PTE Ltd is a relatively new retail trading broker established in Australia in 2019 that gives you easy market access to buy and sell various financial instruments.
News WikiFX report: 4 Steps to Becoming an Introducing Broker
Becoming an Introducing Broker can be the easiest method to increase your income, process, and explain all the benefits of being a CWG Markets Client. New forex brokers have different ways to enter and offer forex trading services in one of the most fascinating and lucrative markets in the world. One way to do so is by becoming an introducing broker (IB). Switch Markets shows you how to become an IB.
Wiki Q&A
Nali5689 
1-2 years
How long does it take to withdraw money from Switch Markets?
Different payment methods have different processing times. Visa, Mastercard, digital currencies, Fasapay, nganluong.VM, Perfect Money, Paytrust88, and UnionPay are processed within the nearest working day. Bank transfers take 3-5 business days. Interac takes 3-4 business days. Neteller, Skrill, Dragonpay, and Vertupay are almost instantly processed once handled. These payment methods offer various processing time options to suit different users' needs and preferences.
Broker Issues
Withdrawal
Deposit
07-14
United States
Vladimir
1-2 years
Are the spreads low or high at Switch Markets?
The minimum spread starts from 1.4 pips for the Standard account, and the PRO account has spreads starting from 0.0 pips.
Broker Issues
Fees and Spreads
07-02
United States
Pushpender Sharma
1-2 years
What are the cons of Switch Markets?
ASIC's license to regulate Switch Markets has been revoked, and there are regional restrictions.
Broker Issues
Regulation
04-26
United States
Five8
1-2 years
What trading instruments does Switch Markets offer?
Switch Markets offers a variety of trading instruments, including forex, indices, digital currencies, commodities, and CFD shares.
Broker Issues
Leverage
Platform
Account
Instruments
04-05
United States
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brolinkfx
Italy
I made a deposit to switch market but more than 10 hours gone and my deposit is yet to be credited withdraw section is not open too
Exposure
abu sary
Israel
The best broker so far in terms of spreads and pro accounts, and they have a deposit bonus of up to $5000. The minimum deposit is $50. I have been dealing with them for a whole year and have not encountered any problems.
Positive
Summery
Turkey
Switch Markets shines with its customer support and trading platforms! Their team is always available and helpful, and the platform is smooth and intuitive.
Positive
Virat Kohli
Malaysia
Switch Markets is good platform for trading. And customer support and assistance is quick and upto mark most of time which is actually needed in this type of trading platform. ❤❤❤
Positive
✨LL✨
Peru
Switch Markets offers a diverse range of tradable instruments and account types to accommodate various trading styles. The demo account serves as an effective practice tool, and the MT4 platform is well-supported. The broker maintains transparency in spreads and commissions, with fair options for different account types. Deposits and withdrawals are smooth, and the 24/5 multilingual support enhances the overall reliability of the platform. It's important to note the regional restrictions when considering this broker.
Neutral
Judyedge
Malaysia
Switch Markets provides a user-friendly experience with the MT4 platform, offering flexibility across devices. The demo account, with no time limit, is a valuable tool for building confidence. The $50 minimum deposit is accessible, and the free VPS for new clients is a notable benefit. The broker's customer support has been consistently responsive, contributing to a positive overall experience.
Neutral
梧桐树下
New Zealand
This company seems to be quite reliable, registered in Australia and regulated by ASIC. But when I looked up user reviews on the Internet, I found that there are very few user reviews... so I will not trade here to be safe.
Neutral
David Low
Malaysia
So far so good, but the broker seem new, a lot functionality not complete yet, including lot rebate reward system. By the way, I would like to know what's ASIC appointed representative meant???
Neutral
简单化
Malaysia
Finally, I have found Switch Markets. By accident but this broker has become my top one! I hope we will work in many years. Great work and thanks a lot!
Positive