BrokerMasters is a forex and CFD broker that is based in the UK. It provides traders with the MetaTrader 4 trading platform, however, a ridiculously high minimum deposit requirement of 5000 dollars. The leverage ratio offered to the traders is as high as 1:200, and the spread is quite unfavourable at 3 pips on Euro/USD which is twice the industry’s average. The potential clients of this broker have the option of depositing or withdrawing funds only via the supported payment methods which are Visa, MasterCard, and bank wire, however, the popular e-wallets like Skrill and Neteller are not available.
Going through the website of the broker, we found that there is only a UK contact number and a Swiss address mentioned. However, no further or important corporate information is disclosed by the broker, which renders that the website is anonymous. As the broker has provided the phone number based in the UK, we check through the online registry of the financial authority of the UK called FCA, but we did not find the name of the company listed on FCA’s website among the license holders of the British financial watchdog. This means that this broker is providing financial services without any authorization.
If you have traded with Brokermasters and believe you have been scammed by them you have a chance to get your money back. Many unregulated brokers have been found to scam traders. At Broker complaint registry it’s our job to provide you detailed Brokermasters review and make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money.
Is Brokermasters a scam or legit broker?
Brokermasters has been suspected as a scam broker. We don’t recommend to trade with them and if you are trading with Brokermasters contact them immediately and try to get your fund out. If the Brokermasters has done the following, you have probably a victim of Brokermasters scam broker.
Reason to suspect a scam broker is in action:
The broker froze your account
The broker blocked your account
You cannot login back into your account
Money has been taken out from the account
The broker doesn’t take your calls
The broker shut down his website
You noticed the broker took money out from your bank account with out your permission
The broker is offering you a bonus
The broker is offering you to fund more money into the account after you lost a large sum
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.