Marketiva Review

When I first opened an account at Marketiva, I was fully aware of the risk I was taking. A forex broker registered in the British Virgin Islands doesn't exactly inspire confidence in a trader. They have been in business for some time however (since 2003) and have a fairly good reputation among traders. Moreover, I really wanted to short the carry trade for the long-term, and Marketiva is a swap-free broker, meaning I would save a lot of money by not having to pay negative swap on my long-term short positions in the high-yielding currencies. Marketiva also allows a maximum of 300,000 units to be traded at any one time, so I couldn't go all in anyway. As it turns out, shorting the carry trade was one of the best decisions of my trading career, and having a broker account in the Caribbean didn't hurt my cause - I was able to close my positions and withdraw my profits without any complaints from Marketiva.

It seems that, as far as market makers go, Marketiva offers a fairly decent and honest product. It is certainly not intended for highly-capitalized professionals, but more for the smaller novice retail trader. Marketiva allows trades as small as 1 unit, and offers vibrant chat community within the trading platform itself. I never found much use for it, but it can be helpful (or distracting, depending on how you look at it). In any case, I can recommend Marketiva to my readers with a clear conscience, as long as you are not looking to trade millions, and can live with the poor charting and basic functionality of the trading platform.

Quick Facts:
Headquarters in the British Virgin Islands;
FSC member (646819);
In business since 2003;
Does not accept clients from the USA;
Deposits by e-Dinar, Liberty Reserve, WebMoney, Wire Transfer;
Target spread on EUR/USD: 0.0002 (2 pips) variable;
Accounts can be held in USD, EUR, GBP, CAD, CHF, AUD, JPY

More details about Marketiva here.
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