Archives: Brokers

Is Markets Broker Scam or Legit Broker?

Master Broker is 100% a scam or fraud, however, there is a significant risk while trading with a non-licensed broker, due to the nature of the financial trading itself. According to our research, behind the company location stands an offshore zone, which offers plenty of tax benefits for the incorporated companies, therefore many forex brokerages for some reason decided to skip serious registration and perform services from an offshore location.

What is Master Broker?

Master Broker is a trading name owned and operated by Safe Trade Ltd, a company with registered offices in Vanuatu.

The broker offers advanced trading conditions, with a wide offering to world traders and including a vast of trading instruments and allowed styles.

• Therefore, we strongly advise incorporating and investing only with regulated brokers that comply with international standards of service performance, proved their reliability and sustainability, as well as constantly overseen by the specified authority.
• Customers are always protected by compliance to licensing like ASIC (Australia) or other authorities, thus customers can trade with a clear state of mind in case of the company insolvency.
• Since, Markets Broker establishes its office in Vanuatu, which requires only 2,000$ initial capital to start a business, the compliance, reliability, and trust in such an investment occur its logical answer.
• Moreover, Markets Broker claims to protect clients with the strictest regulatory measures and tighter security, which is not a fact at all.
• Also, there was a statement on their website about company ownership which allegedly registered in the UK, which was also faulted information.

Master Broker Review Conclusion

We strongly advise avoiding Master Broker and opening a trading account only with brokers regulated by respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Eightcap and BlackBull Markets.

Master Broker Update

Our findings showed that Master Broker is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is Master4x Scam or Legit Broker?

It is not safe to trade with Master4x, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is Master4x?

Master4x is a Forex and CFDs broker, owned and operated by Strategic Future Investment LTD. The company claims to have a head office in Dubai. This is basically all the information about the brokerage available on the website. They don't disclose any contact details as well as trading conditions.

• There is no information about the company's regulation or registration. Terms and conditions say something about the Cyprus jurisdiction, although the firm is not licensed by the Cyprus regulator CySEC or any other authority.
• Also, there are lots of negative reviews on the net about Master4x's cold calling. The managers call and tell the potential client's that the company is reliable because it is FCA regulated, which we already know is not true. Seems like this broker uses fake regulation to get people's trust.

Master4x Review Conclusion

We recommend traders to avoid unregulated brokers and choose among those regulated by well-known reputable agencies, such as the Financial Conduct Authority in the UK or Cyprus Securities and Exchange Commission. These regulators guarantee the safety of clients' funds and even can compensate in case the broker goes bankrupt. Check the CySEC-regulated brokers here and sign in with reliable brokers such as XM, BlackBull Markets, and HFM.

Master4x Update

Based on our findings, the Master4x website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.

Is Trade24 Scam or Legit Broker?

It is not safe to trade with Trade24, because it is an unregulated broker. In addition, the company has been suspected of being a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is Trade24?

Trade24 is a Forex and CFD broker. The company is owned and managed by Payopt Services DOO, located in Montenegro.

Although after some research it turned out that Payopt Services DOO is registered in Anguilla (an overseas territory, located in the Caribbean), one of the offshore zones where forex brokers get their licenses.

• Such offshore registrations are famous for their low cost and the fast process of getting a license. Trade24 has warnings from Financial Services and Markets Authority in Belgium and Ontario Securities Commission in Canada.

All these facts show that the broker is most probably just another scam.

Trade24 Review Conclusion

We recommend avoiding trading with unregulated brokers as there is a high risk of investors losing their money. Instead of signing with Trade24, it is safer to choose among trustworthy regulatory agencies, such as FCA in UK and ASIC in Australia. Check the lists of the FCA-regulated and ASIC-regulated Forex brokers here.

Trade24 Update

Our research showed that Trade24 is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is Caesar Trade Scam or Legit Broker?

Caesar Trade is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade Caesar Trade. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

• The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is Caesar Trade?

Caesar Trade is an international brokerage firm that operates through its office in Seychelles and provides trading on Forex, CFDs, and Binary Options (See also Regulated Binary Options Brokers). However, previously the company was based in New Zealand as well had held a license from the local authority FSP. In 2016 the company changed its registration and jurisdiction to Seychelles, which is an offshore zone with a not imposed regulation of the financial firms.

• Moreover, the broker’s presented information is quite confusing as there are different names appearing in a trading terminal, addresses, and names in a legal document of the company itself. Throughout a quick search, you would find numerous complaints from the traders that faced serious issues and in the end concludes a company operating as a scam. The issue was mainly with the withdrawals, while the broker found reasons why it can not be done. Considering the above said it seems that the broker moved to another country and mixes the information in order to avoid compliance and regulations for the purpose of its own benefit.

Caesar Trade Review Conclusion

Unfortunately, these are the typical steps that fraud companies do, they are not authorized by any reputable authority like FCA (UK) or FINMA (Switzerland), the main aim is to target the clients convince them to make deposits, and then find tons of excuses why the money are gone. Therefore, we strongly advise avoiding Caesar Trade offering and choosing only with the Regulated Forex Brokers, as at the least there is a legal entity, which constantly oversees the operation broker provides.

Caesar Trade Update

Based on our research, the Caesar Trade website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

Is NetoTrade Scam or Legit Broker? 

According to our research, NetoTrade is a total scam. The broker is not regulated and has no legal right to provide financial services to the public. Moreover, NetoTrade has been suspected of fraud, when pretending to be another company with a better reputation.

What is NetoTrade?

NetoTrade is an international financial investment company that targets worldwide international clients from different jurisdictions and approaches with attractive trading conditions with alleged easy access to trade and invest with the broker. However, the firm operation shows very tricky approaches and it is not even clear where the company office is located.

• At the established stage the NetoTrade brand was used by the registered company in St. Vincent and the Grenadines, as well some period of time it showed information about its base in the UK with a further change of addresses and offices in Cyprus, Israel, and Dubai. Therefore, the broker swings between the countries in order to offer and attract a vast amount of traders for its own purpose. Moreover, in 2013 the UK watchdog of the Forex industry Financial Conduct Authority issued a warning to the company since it does offer its services without necessary licensing.

• In addition, the numerous complaints from NetoTrade clients and traders are dating from the beginning until now, which shows that the company is still targeting ‘Naive” clients to their rows. The traders' complaints were mainly about the issues to withdraw the funds and significant losses due to price manipulations or other malicious actions by the broker. As well, many of the clients were attracted by the cold calls from the company representatives that promise quick and high growth of investments, which is considered to be an illegal service. 

• Currently, the NetoTrade international website is dismissed and redirected to the Arabic version of the website, which means the company aims to catch Arabic-speaking clients. Overall, the MENA area is quite known for the vast of scams and frauds due to the fact that there is no strictest restriction to the Forex industry businesses, along with the lack of population knowledge about involved risks. 

NetoTrade Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex and BlackBull Markets. 

NetoTrade Update

We found that the NetoTrade website is inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

Is HBC Broker Scam or Legit Broker?

It is not safe to trade with HBC Broker, because it is an unregulated broker. In fact, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is HBC Broker?

HBC Broker is a brokerage firm that offers forex and CFDs on commodities, indices, and stocks. The website of the company states that it is owned and operated by several companies (Trading Point Holdings Ltd, Trading Point of Financial Instruments Ltd, Trading Point NZ Ltd) and regulated by FCA in the United Kingdom, ASIC in Australia, and CySEC in Cyprus. This information is identical to the one provided by XM broker, a reputable and well-regulated entity.

• There are no records of the HBC Broker's licenses with any of the mentioned regulators, which means that the company is just a fraud that tries to use the credentials of the regulated broker.
• Also, after checking the terms and conditions on the website, it turned out the HBC Broker is actually a brand name of MPG INVEST Limited, located in Armenia, but registered in Vanuatu - a popular offshore destination for unregulated forex brokers. It's now obvious that the company uses a well-known scheme for unregulated offshore brokers.
• And last but not least, the UK's Financial Conduct Authority has issued a warning against HBC Broker:

"MPG Partners (trading as HBC Broker) is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization."

HBC Broker Review Conclusion

We don't recommend trading with HBC Broker or any other unregulated financial entity as they are not bound by any financial or ethical rules. It is better to choose among brokers that are regulated by reputable regulators such as FCA in the United Kingdom or CySEC in Cyprus. Check the CySEC-regulated brokers here.

HBC Broker Update

Based on our findings, the HBC Broker website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.

Is KontoFX Scam or Legit Broker?

KontoFX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes. This results in a very high-risk trading opportunity, despite its alluring proposal.

What is KontoFX?

KontoFX is a Forex  and CFD broker, owned by NTMT Transformatic Markets OU based in Tallin, Estonia and operated by Northside Business Centres – a company based in Hungary. KontoFX doesn't provide much information about its location, there's only a contact phone number with a British country code, which means the company has been targeting UK residents without being authorized in the country. Moreover, the company has been blacklisted by UK's Financial Conduct Authority (FCA). 

• Some of such entities run investment scams, and clients of such brokers don’t have any protection. Unlike FCA-licensed brokers, unregulated ones are not obliged to keep their clients’ money in segregated accounts. The license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license. The regulator also protects customers when authorized financial services firms fail.

KontoFX Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and FBS.

KontoFX Update

Our research showed that KontoFX is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is PBN Invest Scam or Legit Broker?

Capital Tech Ltd has been suspected as a scam broker. It operates under the brand name PBN Invest - a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and does not hold any authorization or license to perform financial services. 

What is PBN Invest?

PBN Invest is a forex and CFD broker owned by Capital Tech Ltd, a company registered in the Marshall Islands. Also, PBN Trade is operated by Bulgaria-based Pbox Ltd. The company doesn't have a proper registration that would let it provide its financial services legally on the market.

• The confusing thing is the Austrian contact phone number that doesn't actually coincide with either offshore or Bulgarian locations. Moreover, Capital Tech Ltd. was mentioned in the warnings of some regulators (FCA in the UK, FSMA in Belgium) and this time PBN Invest/Capital Tech Ltd. has been blacklisted by Italian regulator CONSOB.
• As regulation is the most important factor for the safety of any investment, we strongly advice potential traders to invest only with properly licensed brokers. The Financial Conduct Authority in the UK and Australian Securities and Investments Commission are well-respected financial watchdogs that do provide sufficient security on the market.

PBN Invest Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and FBS.

PBN Invest Update

Our research showed that the PBN Invest website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is Getco Pro Scam or Legit Broker?

Getco Pro has been suspected as a scam broker. This broker is blacklisted by a well-known regulatory authority and should be avoided. Getco Pro broker is a Non-Regulated Broker. It is NOT SAFE to trade with this company. We have checked the company and there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is Getco Pro?

Getco Pro is a Forex, CFDs, and cryptocurrencies broker. The entity is a brand name owned and operated by Andreas F Bauer, an Austrian Investment firm. They claim to be licensed and regulated by the Dutch Authority for Financial markets (AMF), under license number 12042561.

• They also provide information about the offices that are located in London, the UK with the British contact number.
  The confusing part is that the Austrian firm is regulated by a Dutch regulator and located in the UK. There is an actual investment firm Andreas F Bauer located in Austria and regulated by the Dutch AMF, but this name has nothing to do with Getco Pro and there is no evidence of these two companies being connected. Seems like Getco Pro just uses the name of the regulated firm to get traders' trust.
• Moreover, the brokerage Getco Pro has been blacklisted by the Austrian regulator FMA (Financial Market Authority):
  "Getco Pro is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others..."

Getco Pro Review Conclusion

Investing with a properly regulated broker is crucial for the safety of any investment. There are few well-respected institutions that enforce strict regulatory standards upon all brokers in their jurisdiction, such as FCA in the UK, ASIC in Australia, or CySEC in Cyprus. Check out a list of brokers authorized by FCA. Traders should trade with well-regulated brokers such as Eightcap and BlackBull Markets.

Getco Pro Update

Our findings showed that Getco Pro is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.