Sheer Markets

Overview

Brokers that provide regulatory-compliant innovative trading solutions are a great partner for traders globally. Founded in 2019, Sheer Markets, a Cyprus-based trading broker, was one of the first providers of retail access to Non-Deliverable Forward (NDF) Contracts for Difference (CFDs). They pioneered access to emerging-market currencies that were previously unavailable to retail traders. As a broker, Sheer Markets has a unique value proposition in the retail trading marketplace.

As an NDF CFD broker, Sheer Markets subsequently added other products to its NDF CFDs, including a broad range of CFDs across forex, commodities, stocks, cryptocurrencies, indices, and NDF CFDs. Sheer Markets' executive team is knowledgeable and experienced, and works with institutional liquidity customers across Latin America, Africa, Asia, and Oceania.  This article discusses the history of Sheer Markets, the management team, product offering, regulatory information, customer service, trading conditions, and fees.

History

Founded in 2019, Sheer Markets is distinguished by its leadership team of established financial professionals, including Chairman Alex Ladouceur, CEO Howard Carr, and Executive Director & CCO Gareth Thomas. These three individuals bring years of real-world, hands-on experience in technology and markets to enhance a broker focused on innovation and client access.

Sheer Markets began its business by offering streaming liquidity through innovative NDF CFDs. They were the first broker to give retail clients access to a truly niche product that had been traditionally unavailable to them. The broker offered other currencies typically classified as emerging-market currencies: the Indian Rupee, Korean Won, and Brazilian Real. Ultimately, the broker has expanded its products to include more than 1900 CFD instruments across various asset classes for both retail and institutional clients. Now headquartered in Cyprus, Sheer Markets has developed a business with a global market presence, including participation in LATAM, Africa, Asia, and Oceania, to fulfill its ambition of becoming a truly international company.

Key Features and Offerings

Wide Selection of Instruments

Sheer Markets offers a wide range of trading instruments, with a focus on NDF CFDs. These instruments include currencies from emerging markets that have traditionally been difficult for retail traders to trade. In addition to CFDs on NDFs, the broker also provides CFDs on forex, commodities, stocks, cryptocurrencies, and indices, for a total of over 1900 instruments. This type of range allows traders to build a varied portfolio and access multiple markets on a single platform.

Retail Access to NDF CFDs

Unique to Sheer Markets is its innovative offering of streaming liquidity in NDF CFDs directly to retail traders. More sophisticated than a typical forex trade, NDFs are not available to retail traders because they are complex and lack liquidity, and were typically the domain of institutional customers. By providing democratized access to NDF markets, Sheer Markets fills a gap in the retail space, enabling access to emerging currency trading at competitive pricing and execution.

Institutional Offerings

Sheer Markets leverages its unique retail offerings to provide liquidity and enable trading for institutional customers. Partnering with liquidity providers, like Match-Prime, provides additional trading liquidity and helps improve the firm's institutional-quality execution process. The company's focus on both retail and institutional clients confirms its commitment to providing complete service. Licensing and Regulatory Compliance

Regulatory compliance is an essential factor when choosing a trading broker, and Sheer Markets complies with several regulatory authorities to serve its diverse clients. As a Cyprus Investment Firm (CIF), Sheer Markets is licensed by the Cyprus Securities and Exchange Commission (CySEC) and follows the strict EU financial regulations. Additionally, Sheer Markets is licensed by the Labuan Financial Services Authority (LFSA) to provide services across Latin America, Africa, Asia, and Oceania. Moreover, the broker is registered with several EU competent authorities to offer cross-border services within the EU, further enhancing its regulatory credibility.

Trading Conditions and Platform Technology

Trading Conditions

Sheer Markets offers strong, very competitive trading conditions to meet the needs of both retail and institutional traders. While the spread and leverage numbers are not publicly available, the broker offers competitive prices, particularly for its more niche NDF CFDs, with streaming liquidity. For CySEC-regulated brokers, the maximum leverage for retail clients is usually 1:30, but Sheer Markets may offer different leverage depending on the product type. Minimum deposit requirements and commission amounts are not explicitly disclosed, which may suggest they are somewhat customizable or dependent on a particular account. In any event, the broker encourages traders to work directly with them regarding their needs and requirements. Platform Technology

Sheer Markets has adopted the well-known MetaTrader platform, which likely includes both MT4 and MT5 versions, and is the industry standard for retail trading. The platform also supports trading in NDFs and CFDs, offering a familiar trading experience in a robust trading environment. While no mention of mobile applications has been made, MetaTrader typically offers mobile versions, allowing traders to place trades while away from a computer.

Taking charge under CTO Antonis Papaioannou, whose background is in FXVC Online Trading and Blackwell Global, Sheer Markets utilizes institutional-grade liquidity and advanced technology to ensure smooth execution and dependable streaming prices. 

Fee Structure

Fee transparency is the essence of trust between a broker and trader. Sheer Markets states it offers competitive pricing and transparency; however, specific deposit, withdrawal, commission, and inactivity fees have not been disclosed to the public. The lack of specific public information suggests that fees may vary by account type, trading volume, or other criteria.

Usually, CySEC-regulated brokers do not charge deposit fees, but confirmation with Sheer Markets is recommended. Traders interested in the exact types and amounts of fees should contact the broker directly or open an account to access the detailed terms.

User experience, Market Reputation

Sheer Markets has a respectable reputation, particularly for its conceptualization of retail NDF trading and institutional liquidity. However, there are minimal public user reviews or ratings. This is likely due to Sheer's relatively recent market entry and its niche-targeting. The management's experience within the financial services industry and regulatory compliance is considered a positive.

Clients can access emerging-market currencies and a variety of instruments regulated by CySEC and other regulatory regimes. The disadvantage is that some traders may need to contact Sheer directly or open an account to learn the relevant fees and competitive trading conditions, as publicly available information is limited.

Recent Developments

Sheer Markets continues to expand its reach with licensing and operating in non-EU markets, partnering with the LFSA for Latin America, Africa, Asia, and Oceania. This does expand its reach, as it aims to have a broader, more comprehensive client offering.   

The other notable events include being paired with Match-prime liquidity and providing better products and execution as a liquidity provider.

In 2024 and beyond, Sheers Markets announced they have begun offering portfolio management services, demonstrating an effort to diversify client offerings and provide more diversified financial services solutions that not only speak to their brand but can also be augmented for growth.

It is worth noting that some former managers have moved on to other significant firms since Sheer's inception, highlighting the types of talent it has cultivated. This speaks to the credibility, accompanied by management experience, and compliance, along with industry recognition and the underlying business, which give assurance of potential growth and reliable support for clients in niche markets.

Conclusions

Sheers Markets is a niche broker and is innovative in bridging the gap between institutional liquidity and retail, thereby providing an opportunity for rocketing retail NDF CFDs. As a licensed broker offering a sufficient number of CFD instruments at reasonable pricing, it is a fortuitous opportunity for traders interested in accessing emerging-market currencies and a variety of CFDs.

Although many of the fees and trading conditions are not publicly known, and whether Sheer marks a bifurcation from retail to institutional, the leadership and management team, the management experience, and the direct level of the business have undergone significant broadening in the trading environment.

The broker's success in finding its niche and innovative standing in the retail FX market, while the firm's passage per se may be short, is a plus for traders interested in that unique offering.