Before Investing, You Should Know About An FX Broker

WikiFX | 2022-12-13 10:09

Abstract：Because billions of dollars move hands on the foreign exchange market every day, it becomes very appealing to fraudsters. Furthermore, the growing number of financial intermediaries in the forex market makes locating a trustworthy broker much more difficult.

Before Investing, You Should Know About An FX Broker.png

Because billions of dollars move hands on the foreign exchange market every day, it becomes very appealing to fraudsters. Furthermore, the growing number of financial intermediaries in the forex market makes locating a trustworthy broker much more difficult. This article will draw your notice to a fraudulent broker named Mastertradeplusfx.

A Quick Overview of Mastertradeplusfx

Mastertradeplusfx (https://mastertradeplusfx.com/) claims to be a forex and CFD broker established in the United Kingdom, offering retail trading in a variety of financial markets such as forex, equities, indices, energy, commodities, and cryptocurrencies. While the broker promises to provide unrivaled trading conditions, a wide range of trading platforms, and a variety of account kinds, it also touts its multi-regulated environment and competitive pricing structure. In order to meet the needs of newcomers, the firm also offers educational materials. Clients may only submit their problems with the firm through email since the organization does not provide telephone help or live chat. You may, however, contact the broker through social media sites such as Facebook, Twitter, YouTube, and Instagram.

Is Mastertradeplusfx a regulated broker？

No! Mastertradeplusfx is not a regulated entity. Although the corporation claims to be in compliance with many rules, no documentation can be discovered to support this claim. And we are certain that the broker is lying about its regulatory status, as shown by the FCA screenshot below.

Is Mastertradeplusfx a reputable broker？

No! Mastertradeplusfx is an unlicensed broker. The firm purposefully creates misleading statements in order to deceive customers and cause them to lose money.

First, the broker claims to be licensed in various countries, including its own (United Kingdom). The Financial Sector Conduct Authority (FSCA) governs it in the United Kingdom, according to the corporation. The FSCA, on the other hand, is a South African Regulatory Authority that has nothing to do with the rules of UK-based brokers. Instead, all brokers working in the United Kingdom must be licensed by the Financial Conduct Authority (FCA).

Aside from the registration page, the company's website features several broken links. The broker seems to want you to join up, deposit dollars, and then leave the money alone.

Furthermore, the fund may only be funded using bitcoins. The broker does not accept any other payment method for obvious reasons: the firm does not wish to divulge its identity. As a result, it may go unnoticed.

Mastertradeplusfx has never been blacklisted.

Yes! The business was recently banned by the UK's regulator FCA after it was discovered to be offering unlicensed trading services to UK residents. The regulator reminded the public that if anything goes wrong, the Financial Ombudsman Service or the Financial Services Compensation Scheme would not be able to help (FSCS).

More Mastertradeplusfx news may be found at https://www.wikifx.com/en/dealer/3007333216.html.

Conclusion

The FCA has banned Mastertradeplusfx as a verified fraud broker. The firm plays professionally to entice customers and cause them to lose money. When you visit the broker's website, you may be unable to tell it apart from a legitimate broker's website. Furthermore, the firm has provided incorrect information regarding its regulatory status on its website, leading newcomers to believe it is a real broker. Fraudsters disguise themselves as authentic. Make it a point to investigate a broker's regulatory status to ensure that you do not fall victim to a fraudulent broker. WikiFX can help you locate the web address and confirm the regulatory status of your selected broker.

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Related broker

No Regulation

Mastertradeplusfx

Company name：Mastertradeplusfx

Score

1.44

Website：https://mastertradeplusfx.com/

2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.44

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