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Master4x Review - is it scam or safe?

Master4x Review - is master4x.com scam or good forex broker?

RATING: 1.6 / 0 REVIEWS
Master4x is an offshore broker. Your money is not safe.

Trading Accounts & Conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $200 0.1 1:500 1.4 pips

 

As information about different trading conditions is not available on the broker’s website, we assumed that Master4x offers a single account type with variable spreads and leverage up to 1:500.

 

In addition, Islamic (Swap Free) accounts are also available with this broker.

 

Master4x Advanatges:

 

- Competitive spreads

 

Usually forex brokers offer spreads within the range of 1.0 – 1.5 pips for the EUR/USD pair, and Master4x is no exception. When we tried its demo account, its spreads floated around 1.4 pips for this pair and no commission applied.

 

If you wish to trade with lower spreads, and more importantly, with a trusted broker, check out what global brokerage IG has to offer.

 

- MT4 available

Master4x supports the Metatrader 4 trading platform and offers it in all forms and shapes – desktop download, web-based versions and mobile apps.

 

The MT4 trading terminal is globally popular due to its ease of use, great charting , wide range of automated strategies (Expert Advisors), technical analysis indicators, customization options and more.

 

>>Other MT4 brokers<<

 

- High leverage levels

Although it is questionable whether using leverage levels as high as 1:500 is a good trading strategy, the fact that Master4x offers such leverage ratios is considered as an advantage. You are not obliged to use this option to the fullest, as it involves greater risks of losses.

 

Master4x disdvantages:

 

- Not regulated

Master4x is operated by Strategic Future Investment LTD, a company whose head office is allegedly in Dubai. This company, however, is not licensed to provide brokerage services by the local authorities, nor by any other governmental agency. We won’t get tired of repeating how risky investments in such companies are.

 

- Comparatively high initial deposit required

In order to open an account with Master4x, one has to invest at least $200, which is not that much, however many trusted brokers require less. For example, you can open an account with leading forex brokerage IG by depositing a mere $1.

 

- No micro lots

This is not a major flaw, yet the option to use micro lots allows you to have a better risk management strategy.



Conclusion

 

The offerings of Master4x are not bad, yet they are also nothing special in the world of forex. It offers trading in wide range of financial instruments on the good old MetTrader 4 platform with average spreads and high leverage levels. It even provides VPS service.

 

Nonetheless. The major flow of this broker is that it is not licensed, which means that if you choose to use it, your investment is at risk. Master4x and its team can simply disappear with your money.

 

Considering the above, you’d better select a good and reliable broker instead. One of the best jurisdictions for forex brokerage regulation is those in the UK. Brokers licensed there are required to meet stringent rules on capital adequacy, client account segregation, AML, transaction reporting and many more.

 

>>Brokers regulated by the FCA «

 

To sum up the above:

 

Pros

Cons

Competitive spreads

Not regulated

MT4 available

Comparatively high initial deposit required

High leverage levels

No micro lots

 

 

 

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Spread

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for Master4x

Forex
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