Keep Away: Mastertradeplusfx is a Scam Broker

Is Mastertradeplusfx Regulated？

No! Mastertradeplusfx is not regulated. Although the company claims to hold multiple regulations, no evidence can be found to confirm its claim. And we are sure the broker lies about its regulation status, as the screenshot from FCA below.

Is Mastertradeplusfx Legit？

No! Mastertradeplusfx is not a legitimate broker. The company deliberately makes false claims to mislead clients and make them lose their money.

First, the broker claims to hold regulations in multiple jurisdictions, including its home country (United Kingdom). According to the company, the Financial Sector Conduct Authority (FSCA) regulates it in the UK. However, the FSCA is a South African Regulatory Authority that has nothing to do with the regulations of UK-based brokers. Instead, all brokers operating within the UK must have a valid license from the Financial Conduct Authority (FCA).

Further, the company's website has many broken links, except for the signup page. It seems that the broker only wants you to sign up, deposit funds, and leave away from the money forever.

Moreover, the fund can only be deposited via cryptocurrencies. The broker doesn't support any other payment method, and the reason is apparent - the company doesn't want to reveal its identity. So it may remain untraced.

Has Mastertradeplusfx Ever Been Blacklisted？

Yes! the UK's regulator FCA has recently blacklisted the firm after finding it engaged in providing unauthorised trading services to UK nationals. The regulator warned the public that if something goes wrong, affectees won't have any recourse through the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).

Bottom Line:

Mastertradeplusfx is a confirmed scam broker blacklisted by the FCA. The company plays professionally to trap clients and make them lose their funds. When you visit the broker's website, you might be unable to differentiate it from a legit broker's website. Further, the company has mentioned false information about its regulatory status on its website, so newbies might consider it a legitimate broker. Fraud elements dress themselves up to look legitimate.