9Markets Review

Our review process for 9Markets began by cross-checking the broker’s claimed US base against corporate registries and financial sector databases. We searched for regulatory licenses with the SEC, CFTC, FINRA, and state-level authorities, and extended our checks internationally to cover the FCA, ASIC, and other tier-one watchdogs. No record was found.

Simultaneously, we analyzed every piece of user feedback we could locate, including 15 reviews on Trustpilot and samples from other industry platforms. We counted mentions of withdrawals, scams, and support issues, and we carefully weighed the credibility of both positive and negative accounts. This multi-pronged investigation forms the basis of our Scam Risk Score of 75 out of 100, which we classify as Severe.

9Markets claims to have been founded on November 6, 2020, and purports to operate from the United States. However, the entity discloses no physical address, no registration number, and no information about its ownership or management team. Its employee count is listed as zero, a figure that either suggests a one-person operation or a deliberate omission.

In the brokerage industry, legitimate firms typically provide clear corporate details, including a street address and the name of the parent company. The complete absence of such basics makes it impossible to verify whether 9Markets is a legitimate business or a shell. Combined with the lack of regulation, these are profound credibility deficits.

A regulated broker must segregate client funds, submit to periodic audits, and often participate in a compensation scheme. 9Markets answers to no financial authority. FXCanary’s search of public registers in every major jurisdiction came up empty. This means the broker is free to set its own rules, change them at will, and handle client money with zero external scrutiny.

For a trader, the practical consequence is simple: if 9Markets disappears or refuses a withdrawal, there is no ombudsman, no arbitration panel, and no insurance fund to turn to. The trader stands alone, holding the full risk of loss from fraud or insolvency.

The broker’s five-tier account structure is unusual in both its naming and its deposit requirements. Bronze starts at a modest €250, but the jump to Silver is immediate and steep at €5,000. Gold sits at €10,000, Platinum at €50,000, and Premium at a daunting €100,000. This tiering seems designed to push clients toward higher deposits, potentially locking in more capital.

What is missing is any specification of what a trader gets in return. There is no mention of spread levels, commission structures, leverage ratios, or added services like account managers or educational tools. In a normal brokerage, higher tiers come with clearly advertised benefits. Here, the opacity forces clients to commit substantial sums blind, a tactic that red-flags in any due diligence process.

We also note that such high minimums are atypical for a broker targeting retail traders. They are more aligned with operations focused on extracting maximum upfront cash rather than building a lasting client base.

The broker’s public materials do not list a single deposit or withdrawal method. It does not say whether it accepts bank transfers, credit cards, Skrill, Neteller, or cryptocurrency. Processing times and any applicable fees are similarly unstated. This lack of disclosure is a red flag on its own, as legitimate brokers typically make this information prominently available.

When we turn to the real-user record, the withdrawal picture darkens further. While a handful of reviews claim quick and problem-free withdrawals, a louder group tells a story of blocked requests, ignored support tickets, and ultimately lost funds. One reviewer stated, 'When you want to withdraw money... this never happened.' Another reported losing €4,000 in a single day and being unable to contact anyone afterward. These accounts strongly suggest that the advertised withdrawal speed is, at best, selectively honored.

FXCanary could not find a detailed list of tradable instruments on 9Markets’ website or within its promotional materials. The broker alludes to a broad selection but names no specific forex pairs, commodities, indices, or crypto assets. This complete absence of a product catalog is highly irregular.

Equally absent is the name of the trading platform. Most brokers stake their reputation on MetaTrader 4, MetaTrader 5, cTrader, or a proprietary web/mobile app. 9Markets leaves traders guessing. Without knowing the platform, a trader cannot assess order execution speed, charting capabilities, automated trading support, or mobile functionality—all essential for informed decision-making.

No commission or spread schedule is publicly available for any of the five account types. The only cost-related information comes from user reviews, where several traders mention 'low spreads' and one notes that swaps are 'a little high but nothing too crazy.' While a few praise the competitive pricing, these comments cannot be verified.

The risk is that spreads and fees may be pliable, adjusted at the broker’s discretion without warning. Combined with the withdrawal complaints, there is reason to suspect that the cost structure may shift when a client attempts to take profits, eroding or even confiscating gains.

The Trustpilot page for 9Markets displays a 3.2-star average over just 15 reviews—a statistically insignificant sample. Within that tiny set, reviews fall into two extremes. Positive ratings (4 and 5 stars) often use generic language and, in one case, appear to reference a different broker entirely ('Tradersway have the best customer service'). This suggests some positive reviews may be fabricated or misplaced.

The negative reviews, by contrast, are visceral and detailed. They describe a familiar pattern: initial friendliness, pressure to deposit more, small wins to build trust, and then an abrupt cutoff when a withdrawal is requested. Several users explicitly call the broker a scam, with one noting that after the original site became inaccessible, the same operators reappeared under a new domain, 'sterlingspecialist.com.' This pattern of cycling through domains is a classic hallmark of fraudulent operations.

FXCanary counted five outright scam accusations alongside four withdrawal-related complaints. These numbers, while small in absolute terms, represent a significant portion of the limited user record and are consistent with high-risk broker behavior patterns observed across the industry.

FXCanary’s Scam Risk Score for 9Markets is 75 out of 100, categorized as Severe. This score reflects the total absence of regulation, the extreme opacity of the company’s business details, the lack of disclosure around account conditions and funding, and the concentration of plausible scam allegations in user feedback.

By comparison, aggregated industry data from generic feedback aggregators paints a deceptively mild picture, such as the 3.2 Trustpilot average. That superficial metric fails to capture the gravity of the withdrawal blockage reports and the emergent pattern of fraud. We therefore advise readers to look past star ratings and focus on the consistency and specificity of the negative testimony.

In our considered judgment, 9Markets exhibits multiple characteristics of a high-risk, potentially fraudulent brokerage. The unregulated status alone should disqualify it for any trader who values capital safety. The additional warning signs—hidden fees, no platform disclosure, impossible-to-verify company details, and a trail of blocked withdrawals—compound the threat.

FXCanary strongly advises against opening an account with 9Markets. The risk of losing your entire deposit is extreme, and the avenues for recourse are nonexistent. If you have already deposited funds and are encountering withdrawal problems, you should gather all communication records and consider reporting the broker to financial crime authorities in your jurisdiction. For traders seeking a reliable broker, we recommend choosing a firm with a long track record, verifiable regulation from a tier-one authority, and transparent operational conditions.