SOHO MARKETS

SOHO MARKETS is an online forex and CFD broker based in Cyprus, established in October 2021. The broker operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CYSEC), offering a degree of credibility within the industry. With a minimum deposit requirement of $100, the broker aims to provide accessible entry to the forex market for retail traders.

The company is registered at Spyrou Kyprianou 41 Avenue, Steratzias Court 2, 1st Floor, Flat 101, 4003, Mesa Geitonia, Limassol, Cyprus. As a relatively young broker, SOHO MARKETS is still building its reputation and market presence. Limited independent public information is available about its trading conditions and platform offerings.

SOHO MARKETS holds a Derivatives Trading License (STP) from CYSEC, which is a reputable European regulator. This license ensures compliance with the European Union's MiFID II directive, providing client protection measures such as negative balance protection and participation in the Investor Compensation Fund (ICF). However, the specific status of the license is not detailed in public records, and traders should verify the license details directly on the CYSEC register.

While regulation by CYSEC offers a baseline of security, the broker's elevated scam risk score of 53/100 (as assessed by FXCanary) suggests potential concerns. This score reflects factors such as the broker's short operating history and limited track record, which warrant caution for traders.

Founded in late 2021, SOHO MARKETS is a relatively new entrant to the forex brokerage space. The company is based in Limassol, Cyprus, a common hub for European forex brokers. The registered address indicates a physical presence in the jurisdiction, which aligns with CYSEC's requirements for licensed entities.

As a startup broker, SOHO MARKETS may still be developing its operational history and client base. Traders should consider the benefits of dealing with an established broker versus the potential for more personalized service from a newer firm. The lack of extensive independent reviews or long-term client feedback makes it challenging to fully assess the broker's reliability.

SOHO MARKETS offers a minimum deposit of $100, making it accessible for retail traders with limited capital. The broker describes itself as providing STP (Straight Through Processing) execution, which typically means orders are passed directly to liquidity providers without dealing desk intervention. This can result in faster execution and potentially lower spreads.

Details on account types, leverage, spreads, and commissions are not publicly disclosed in the known facts. Traders would need to visit the official website or contact the broker directly for specific information. The broker does not appear to offer Islamic or swap-free accounts based on the limited data available.

SOHO MARKETS provides access to a range of financial instruments including forex, CFDs on indices, commodities, and possibly cryptocurrencies. The exact instrument list is not specified in the available records, but typical offerings from CYSEC-regulated brokers include major, minor, and exotic currency pairs, as well as popular indices and commodities like gold and oil.

As a CYSEC-regulated broker, SOHO MARKETS is subject to leverage restrictions under ESMA guidelines, with maximum leverage of 30:1 for major forex pairs and lower for other instruments. This protects retail traders from excessive risk but may limit the profit potential for experienced traders seeking higher leverage.

No specific trading platforms are mentioned in the known facts about SOHO MARKETS. Most brokers in its category offer MetaTrader 4 (MT4) or MetaTrader 5 (MT5), and some may provide proprietary web-based platforms. Without official confirmation, traders should verify platform availability before opening an account.

The absence of platform information in public records is a gap that potential clients must investigate. Reliable brokers typically prominently display their platform offerings on their website.

SOHO MARKETS is targeted at retail forex traders, particularly those who prefer a regulated environment with a low initial deposit. The broker may suit beginners or traders with smaller accounts who want to trade under CYSEC's regulatory framework. However, the elevated risk score suggests that only traders comfortable with some uncertainty should consider this broker.

The broker may not be ideal for traders requiring high leverage, extensive research tools, or a long track record. Experienced traders might find the lack of detailed information about trading conditions a significant drawback.