MarketAxess Review
MarketAxess runs an electronic trading system for bonds, used by banks and asset managers, not individual retail traders. It is a public company listed on Nasdaq.
Min Deposit
N/A
Spreads From
Not published, pricing depends on institutional agreements and bond liquidity
Max Leverage
Not applicable to its electronic bond trading business
Platforms
3
Pros
- Publicly listed on Nasdaq since 2004, with full financial disclosure
- One of the largest electronic venues for corporate bond trading
- Registered with the SEC, FINRA, the MSRB, the NFA, and SIPC in the US
- Processes more than 40 billion dollars in daily trading volume
Cons
- Built for institutions, not a broker retail traders can sign up with
- No public retail fee schedule, spreads, or minimum deposit
- Leadership has changed twice recently, CEO in 2023 and Chairman in 2025
- Its bond focused platform will not suit a typical forex or CFD trader
MarketAxess was founded in April 2000 by Richard McVey, a former JPMorgan executive, to bring electronic trading to the bond market. The company listed on Nasdaq in 2004 and has grown into one of the largest electronic venues for corporate bonds. Chris Concannon became CEO in 2023, and Carlos Hernandez became Chairman in January 2025.
The platform lets banks, asset managers, and other institutions trade corporate bonds, municipal bonds, emerging market debt, and US Treasuries electronically, often through its Open Trading network. Daily volume regularly passes 40 billion dollars. Its main US broker dealer is registered with the SEC and FINRA, and its Canadian arm is a registered Alternative Trading System.
MarketAxess is not a broker a person can open a personal account with. It serves professional institutions that already hold bond inventory or manage client portfolios, and its pricing and fees are set through institutional agreements rather than a public retail fee schedule.
Max Leverage
Not applicable to its electronic bond trading business
Spreads From
Not published, pricing depends on institutional agreements and bond liquidity
Platforms
Regulators
Platforms
- SEC (USA)
- FINRA
- FCA (UK)
