The brand BROKERZ.COM is owned by BROKERZ LTD situated in Saint Vincent and the Grenadines. The trading instruments provided by this broker are foreign exchange, CFDs, stocks, several commodities, and many indices. Follow this review to get all the information about this broker.
There is absolutely no information about the regulatory authority that oversees this broker’s operation. The regulation is the prime asset any broker can have. Without that no one can guarantee brokers legitimacy. And no one can help traders in the situation of crisis. We can only warn you about such scam brokers. The Austrian financial authority openly declared warning against this potential scam broker. The broker offers MetaTrader and WebTrader platform. The spreads available in all four accounts are fixed at 3 pips. This spread is high compared to market value. The broker charges $8 commission on every trade. This is nothing but the additional spread of 0.8 pips this is not a good sign. This will increase the trading cost and will be unfavorable to traders.
Let us talk about some advantages of BROKERZ. This broker provides three types of trade platforms. The well renowned and trusted MetaTrader is one of them. MetaTrader has several out of the class features. The MQL is prominent in them and this helps the trader to track their strategies. The four account types are associated with low initial deposits. The basic account called classic can be assessable with a minimum deposit of $250. This deposit is offered by many brokers and is in line. The leverage provided is 1:100 and it is considered reasonable in today’s market conditions. The clients of BROKERZ are provided with a wide variety of trading instruments. These are foreign exchange, CFDs, many indexes, several commodities, and cryptocurrencies. It also offers a bonus to the traders but they are as usually associated with the terms and conditions.
Is BROKERZ scam or legit?
The website of BROKERZ is modern and catchy also provides all sorts of information on the trading environment. Sadly, it misses on regulatory authority. This is definitely a big red flag. The security of the trader’s funds is paramount and no broker can deny this. The warning against it by Austrian financial authority is also the fact of concern. The SVG based nature makes it worse. We advise you to trade with the licensed and regulated brokers. This broker can be a potential scam broker.
Don’t give up. You can fight back and get your money refunded. Start by filling the form above and we will get in touch with you and provide you with information on how to start the process.