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Match X Review - Is it scam or safe?

Match X Review - is matchxtrader.com scam or good forex broker?

RATING: 1 / 2 REVIEWS ForexBrokerz Match X
Match X is an offshore broker. Your money is not safe.

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Trading accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spreads
Starter N/A 0.1 1:1500 Fixed at 4 pips
Premium N/A 0.01 1:200 From 3. pips 

 

Clients of Match X are offered a choice of 2 account types Starter and Premium. Both accounts are commission-free and swap-free, however we could not find information about the minimum initial deposits required to open neither of them. The first one offers fixed spreads and the second – variable. Unfortunately, we find both variable and fixed spreads excessively high. For example, global brokerage HYCM offers spread fixed at 1.8 pips on EUR/USD on its Standard account types. For further information, you may look up real-time spreads of 15 leading brokers here.

 

Unlike most brokers, who offer micro tradable lots on beginner accounts, Match X provides such lots on Premium accounts only. We would also like to warn you not to use the maximum leverage levels offered by this broker, as proper risk management becomes very difficult.

 

Hedging and EAs are allowed with this broker, while scalping is restricted with a 3 minutes duration rule.

 

The Company. Security of Funds

 

Company

Country

Regulation

Match X Limited

Vanuatu

VFSC

 

Match X does not mention anything on its website regarding its headquarters and regulation. It only provides a phone number that is in the UK. When we researched the company behind the brand in the Internet, we found out that it holds a dealer in securities license with the Vanuatu Financial Services commission. Indeed, there is no need to brag about a license, issued by some offshore organization.

 

In order to get a license from VFSC, forex and binary options brokers must simply register, pay some low-cost fees and meet a minimum capital adequacy requirement of just $2000.

 

According to us, offshore regulated brokers should be avoided as a general rule, no matter what their claims are, as the rules and requirements applicable to them are very lax, if any.  That is why, we would advise you to select a forex broker licensed in Cyprus or UK, or for instance, where regulation is strict and there are compensation schemes, which will protect your money if your broker becomes insolvent.

 

Trading Platform

 

Like most brokers, this one also supports MetaTrader 4 (MT4). This platform offers a number of technical indicators, advanced charting package, extensive back-testing options and wide range of Expert Advisors (EA), allowing clients to fully automate their trades. What is more, the platform’s user-friendly interface allows even inexperienced traders to easily find their way around it.

 

 

Promotions

Currently this broker offers its clients up to 20% deposit bonus on every investment on for any trading accounts.

 

Methods of Payment

 

There is no information about the payment methods supported by Match X. We believe that at least bank wire transfer and payments via credit/debit cards must be available.

 

Conclusion

 

We do not recommend Match X, as this MT4 broker is registered offshore and besides, its spreads are very wide. Here are, in a nutshell, the advantages and disadvantages of Match X:

 

 

Pros Cons
MT4 available  Registered offshore
Bonuses offered Excessively high spreads
  Limited information on website

 

Scalping restricted

Latest news about Match X
No news about Match X. Check back later.
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Traders` reviews for Match X

Spread

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Slippage

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Requotes

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Price feed

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Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Matchx not pay my withdraw

Since 25.08.2017 until now , my submission for withdrawal to broker is no response .

mohd nazri 08/31/2017
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