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M Broker Review - is it scam or safe?

M Broker Review - is mbroker.trade scam or good forex broker?

RATING: 1 / 0 REVIEWS M Broker
M Broker is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Min. trade size Max. leverage Spread
Copper  EUR 5 000 0.01 1:100 2 pips, fixed
Silver  EUR 10 000 0.01 1:200 2 pips, fixed
Golden  EUR 10 000 0.01 1:1000 1.6 pips, fixed

 

M Broker offers trading in forex and CFDs on the good old MetaTrader4 and its clients can choose between the account types listed above. However, we would not advise you to invest with this broker, because it is not regulated and could be involved in scam. You may find all the details in the text below.

 

 

M Broker Advantages

 

MT4 platform offered

Like most forex brokers, this one also supports the most poplar trading platform, MetaTrader4 (MT4). Equipped with a number of technical indicators, advanced charting tools, extensive back-testing environment, and a wide range of Expert Advisors (EAs), the MT4 is preferred by most traders. That is why its availability is always a strong side of any forex broker.

 

>> Check out the best MT4brokers <<

 

 

Generous leverage, spreads not bad

M Broker offers solid leverage levels on Copper and Silver accounts, while Golden account holders can allegedly use ratios as high as 1:1000. This will certainly suit all trading styles. That being said, keep in mind that the leverage available to retail traders is capped in a lot of jurisdictions due to investor protection concerns – in the USA, Japan and throughout the EU.

 

We also have to point out the the spreads announced on M Broker’s website are not bad. In fact, a spread fixed at 2 pips on EUR/USD is pretty much the industry’s average. Of course, a number of brokers offer lower spreads, and many of them are actually reliable and regulated.

 

>> Compare the spreads of top-rated brokers in real time <<

 

 

M Broker Disadvantages

 

No financial regulation

Although the website of M Broker is available only in Spanish, the broker says it is owned and operated by M-BROKER MANAGEMENT LIMITED, a company allegedly based and registered in Dubai, United Arab Emirates. Nothing is mentioned about regulation, so we can safely conclude that M Broker does not hold a legit forex broker license.

 

Regulation is the single most important factor for the safety of any investment and the fact that M Broker does not have a license significantly lowers its credibility.

 

Blacklisted by the Spanish regulator

What is worse, we discovered that Spain’s financial regulator, the CNMV, has issued a warning against M Broker.

 

 

The broker obviously operates illegally on regulated markets such as Spain, which is yet another red flag with regards to this company.

 

Excessive minimum deposit required

With M Broker you can open a Copper account with 5 000 EUR, or Silver/Golden account with 10 000 r EUR, which is quite excessive. Most forex brokers require an initial investment of $100 - $250 as a start, and some go even lower. For example, leading UK CFDs and spread betting provider IG, has not set any minimum initial deposit requirement.

 

 

Conclusion

 

M Broker is an unregulated forex broker that targets Spanish-speaking investors, as the website is available only in Spanish. However, it is not authorized to operate in Spain, or the EU, nor on any regulated market in general. The broker is not licensed and not overseen by any authority, which brings along significant risk for its clients. No wonder the Spanish financial watchdog has issued a warning against M Broker.

 

As always, we advise traders to avoid all unregulated brokers and especially those which have been blacklisted by some financial regulator. It is best to deal with brokers licensed by prestigious regulatory agencies, such as the FCA and CySEC, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 

Below, you can find a list of brokers, authorized by one of the most trustworthy financial agencies worldwide, UK’s Financial Conduct Authority (FCA).

 

 

>> Forex brokers licensed by UK’s FCA <<

 

 

Here is a summary of our review on M Broker:

 

Pros Cons

Claims to support the MT4

No financial regulation

Generous leverage, seemingly good spreads

Blacklisted by the CNMV

 

Excessive minimum deposit required

 

Latest news about M Broker
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Traders` reviews for M Broker

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