The Playtech Problem: Gambling Company Owns Your Broker
Corporate Structure & Conflicts of Interest
Owner: Markets.com is operated by Safecap Investments Limited, a wholly-owned subsidiary of Playtech PLC (LSE: PTEC).
What is Playtech? Playtech is a gambling technology company providing software to online casinos, sports betting sites, and bingo platforms. Forex is a tiny side business (3-5% of revenue).
The Problem: Gambling companies optimize for player losses (house edge). Financial services companies optimize for client success (commissions on volume). Markets.com operates with gambling company mentality applied to forex.
Evidence: Playtech's annual reports (2020-2024) show B2C (retail trading) division declining revenues while casino/betting divisions grow. Markets.com is a low-priority asset being milked for spreads.
Why Gambling Ownership Matters
Legitimate forex brokers make money from commission + volume. More you trade, more they earn. They want you to succeed so you keep trading.
Gambling platforms make money from player losses. The house edge guarantees casino wins when players lose. Markets.com applies this model to forex:
- Wide spreads = hidden house edge: 2.5 pips vs 0.1 pips is 2.4 pips of pure profit per trade
- Retention tactics = keeping losers gambling: Block withdrawals to keep capital in platform
- Marketing to beginners: Experienced traders avoid Markets.com. Beginners don't know better.
This is a gambling platform with a CySEC license, not a professional trading broker.
Spread Analysis: Paying 10x More Than Necessary
Markets.com vs Legitimate ECN Brokers
| Pair | Markets.com | IC Markets (ECN) | Pepperstone (ECN) | You're Overpaying |
|---|---|---|---|---|
| EUR/USD | 2.5 pips | 0.1 pips | 0.16 pips | 2.3-2.4 pips per trade |
| GBP/USD | 3.2 pips | 0.2 pips | 0.31 pips | 2.9-3.0 pips per trade |
| USD/JPY | 2.8 pips | 0.1 pips | 0.22 pips | 2.6-2.7 pips per trade |
| XAU/USD | 45 pips | 11 pips | 13 pips | 32-34 pips per trade |
Why Are Spreads So Wide?
Markets.com claims "no commission" but hides massive markup in spreads:
- Claimed advantage: "Zero commission trading" (sounds good to beginners)
- Hidden cost: 2.5 pips spread = $25 per standard lot on EUR/USD
- ECN reality: 0.1 pips spread + $3.50 commission = $4.50 total cost
- You pay: 5.5x more at Markets.com ($25 vs $4.50)
Gambling company logic: Beginners see "zero commission" and deposit. Don't realize spreads are eating 2-5% of every trade. By the time they understand, they've lost thousands.
Verified Complaints & Withdrawal Issues
Complaint #7 — David M., UK
"I was profitable after 3 months. Tried to withdraw £8,000. Suddenly I got calls from 'retention department' offering 'VIP account' if I keep trading. I declined. Withdrawal request sat 'pending' for 6 weeks. They asked for documents I already submitted. Eventually got my money but it took 9 weeks total. Felt like they were hoping I'd trade it away."
Verified: Email thread (47 emails), withdrawal request screenshots, FCA complaint reference
Complaint #19 — Sofia L., Spain
"I deposited €10K, made €2,400 profit in 2 months. Requested withdrawal of €5,000. They blocked it saying I 'need to verify trading activity.' I sent trading logs. Then they said 'risk department reviewing unusual patterns.' No patterns — I just swing traded EUR/USD. After 11 weeks and threatening legal action, I got my money. But the stress was insane."
Verified: Bank statements, screenshots of withdrawal blocks, legal letter copy, CNMV complaint filed
Complaint #34 — Jason T., Australia
"Worst broker I've used. Spreads are triple what I pay at IC Markets. When I tried withdrawing my profits ($6,700), they called me DAILY trying to convince me to keep trading. 'You're on a hot streak,' 'VIP account with better conditions,' etc. I said no. Withdrawal took 8 weeks. Never using them again."
Verified: Call logs (22 calls logged), withdrawal timeline documentation, ASIC complaint reference
Aggressive Retention Department
How Markets.com Blocks Profitable Traders
Of 41 complaints we documented, 73% involved withdrawal delays or retention pressure. Pattern identified:
- Profitable trader requests withdrawal (especially first withdrawal over $5K)
- "Retention department" calls within 24 hours (not advertised on website)
- High-pressure tactics: "VIP upgrade," "better spreads," "you're missing opportunities," "withdraw now and lose bonuses"
- Withdrawal sits "pending" for 2-12 weeks (vs 1-3 days at legitimate brokers)
- Document requests: Endless verification demands, even for previously verified accounts
- Eventually processed after threats of regulatory complaints or legal action
Pattern recognition: This is casino retention tactics applied to forex. Goal: keep capital in platform, delay withdrawals, hope trader loses money before withdrawal completes.
Red Flags in Retention Calls
- "Your withdrawal is under review" — Code for "we're stalling"
- "Upgrade to VIP for faster withdrawals" — Translation: "Deposit more to unlock your own money"
- "Risk department flagged unusual activity" — Generic excuse with no specifics
- Multiple document requests — Asking for same documents 2-3 times
- Daily retention calls — Harassment disguised as "account management"
Complete List of Issues
🚩 Extreme Spreads
2.5-3.2 pips on majors vs 0.1-0.3 at ECN brokers. Paying 5-10x more per trade.
🚩 Gambling Ownership
Playtech applies casino logic to forex: wide spreads = house edge, retention = keep gamblers playing.
🚩 Withdrawal Delays
2-12 weeks for profitable traders vs 1-3 days industry standard. Intentional stalling.
🚩 Aggressive Retention
Daily calls after withdrawal requests. High pressure: "VIP upgrade," "signals," "keep trading." Harassment.
🚩 Targets Beginners
"Zero commission" marketing hides massive spread costs. Experienced traders avoid Markets.com.
🚩 Proprietary Platform
No MT4/MT5. Forces you onto their platform with no price comparison to real brokers.
Is Markets.com Legit? Yes, But...
Regulation Status
License: CySEC #092/08 (Safecap Investments Limited) — ACTIVE and legitimate
Parent Company: Playtech PLC (LSE: PTEC) — publicly traded gambling company
Fund Protection: Client funds segregated, ICF compensation up to €20,000
The Catch: CySEC license is real, but regulation doesn't protect you from:
- Paying 10x more in spreads (legal but exploitative)
- Aggressive retention calls (legal but unethical)
- Slow withdrawals within regulatory timeframes (14 days = legal, 1 day = industry standard)
- Gambling company ownership conflicts (legal but problematic)
Our Position: Legitimate License ≠ Good Broker
Markets.com has a real CySEC license. They won't steal your money outright. But they operate at the absolute minimum acceptable standard:
Spreads: 10x wider than competitors (legal but exploitative)
Withdrawals: Within regulatory limits but intentionally slow
Retention: Aggressive but technically not illegal
Bottom line: You CAN use Markets.com without being scammed. But why pay 10x more in spreads when better alternatives exist?
Better Alternatives (Same Regulation, Lower Costs)
✅ CySEC-Regulated Brokers That Don't Rip You Off
If you want CySEC regulation (EU protection) without gambling company ownership and extreme spreads:
- Pepperstone (9.0/10) — CySEC + ASIC + FCA, 0.16 pips avg, cTrader ECN, no retention games
- Exness (8.9/10) — CySEC + FCA, 0.3 pips Pro, instant withdrawals, transparent
- IC Markets (9.2/10) — CySEC + ASIC, 0.1 pips avg, true ECN, professional infrastructure
- Vantage (9.1/10) — FCA + ASIC, 0.2 pips avg, same-day withdrawals, deep liquidity
- FxPro (8.0/10) — CySEC + FCA, multiple platforms including cTrader, est. 2006
All have tier-1 regulation. All have spreads 5-10x tighter than Markets.com. All process withdrawals in 1-3 days. See our full broker rankings.