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Musashi FX Review - is it scam or safe?

Musashi FX Review - is musashi-fx.de scam or good forex broker?

RATING: 3 / 0 REVIEWS Musashi FX
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Account Types

 
 

Account Type Minimum deposit Minimum trade size Maximum leverage Average Spreads
Traditional Spread €1000  0.01 1:200 From 0.7 pips
RAW Spread €1000  0.01 1:200 From 0 pips + $3.5 commission per lot (per side)

 

Musashi FX provides two trading account accounts, both of which offer variable spreads, micro tradeable lots and leverage up to 1:200 on the standard MetaTrader 4 platform. The only difference between the two is that one of the account is commission-free, but has a spread mark-up, while the other account offers raw spread and features commission.


Besides, both accounts are swap-free (Islamic) and therefore suitable for Muslim investors. Islamic accounts are designed to give everything the standard ones offer, without swap rates being charged on overnight positions in order to be Sharia compliant.

 

The Company. Security of Funds

 

Company Country Regulation
GBE brokers Ltd. Cyprus CySEC

 

Musashi FX is a forex and CFD broker with an extensive product portfolio, targeting German investors, as its website is available in German only. However, the company behind the brand, GBE brokers Ltd., is registered as a Cyprus Investment Firm (CIF) and licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). It also operates the GBE Brokers brand (formerly Sensus-Capital).

 

Cyprus offers a business-friendly environment (rather favorable tax regime, easier and less costly business set up procedures, etc.) and time reliable regulation for forex and binary options brokers at the same. Besides, it is part of the European Union and licensed brokers can offer their services throughout the EU and the EEA.

 

Although it was criticized for having turned a blind eye towards some fraudulent practices by certain CIFs (such as the scandal with IronFX), nowadays CySEC seems more committed to financial security, transparency and client protection.


The Commission requires Cyprus-based forex brokers to hold at least €730,000 as a proof of financial stability, to keep client funds in segregated accounts, to report transactions on a regular basis and comply with a number of other rules.

 

Another important feature of CySEC regulation is the compensation scheme it involves. All CySEC-regulated companies are members of the Investor Compensation Fund, able to provide compensations to a maximum of 20,000 EUR per person in the event of broker insolvency.


Trading Conditions


Minimum Initial Deposit
An initial deposit of €1000 may seem quite high for some small investors or traders who are not experienced and unwilling to put much at stake.


Average Spreads & Commissions

Musashi FX offers variable spreads, which seem quite good, starting from 0.7 pips on EUR/USD on commission-free accounts, so the average spreads are probably around 1.0 pips for this pair. Actually, trading costs on both accounts provided by this broker are similar.


If you prefer fixed spreads, for they do not fluctuate during news releases, you may check out easyMarkets (also holding a CySEC license), which offers spread fixed at 1.0 pips on EUR/USD.



Leverage
The maximum leverage level provided by this broker is 1:200, which is standard. If you wish to use higher leverage, many other Cyprus-based brokers offer such: easyMarkets provides maximum leverage rates of 1:400, and a number of forex brokers offer leverage 1:500 and higher.


You must be aware that, when using leverage levels that high, the risk of losses is also multiplied


Trading Platforms


Musashi FX offers its clients the ever popular MetaTrader 4 (MT4) platform, desktop and mobile versions available. 

 

MT4 is the preferred choice of platform of most brokers and traders, because it has solid charting, a number of technical indicators, Expert Advisors (EAs) and those hand with code can even create their own.

 

In addition to the MT4 platform, Musashi FX offers FIX API, which cuts execution times to just a few milliseconds.

 

 

Musashi FX’s demo MT4. Click for a larger image.

 

As you can see from the above image, here the spread is averaged 0.7 pips and no commission applies, which is even better than the trading conditions announced. The platform, however, is provided by Musashi FX Services Ltd., not by GBE brokers ltd.


Methods of Payment


Musashi FX’ clients may choose from a variety of ways to fund their accounts: bank wire transfer, credit/debit card, Skrill and Neteller.


Conclusion


Musashi FX is the German brand of GBE Brokers Ltd. It offers trading in an array of forex and CFD financial instruments under quite good trading conditions on the popular MT4 platform. Its main plus is the CySEC regulation, however the minimum initial deposit is a bit. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros  Cons
CySEC regulation Comparatively high initial deposit
Competitive spreads MT4 provided by another company
Rich product portfolio  

Latest news about Musashi FX
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Traders` reviews for Musashi FX

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Slippage

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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