FXMaster Review (2020): Fxmaster.live; Scam Broker Detected
Fxmaster.live is an illegal broker website that promises a lot and delivers nothing. Investing your funds with Fxmaster will earn you only disappointment. Reading this review will help you understand why it is so.
Whether or not you’re an experienced forex trader, you’re into the business to make profits. In order to do this, you will need the right broker. In order to help you with this, we’ve made it our job to review various broker websites and help you tell the real ones from the scams. The following review will tell you all you need to know about FXMaster Live brokers.
About FX Master Brokers
FXMaster is a brokerage company located in London, England. According to the website, They were founded in 2012 as a crypto trading and crypto mining establishment. In 2016, however, their motive changed and they apparently, became brokers since then. They claim to have over 600,000 registered users.
Fxmarket.live claims to be registered by the FCA as a legitimate forex broker. Consequently, they even go on to put up their supposed registration number on the website. This review however, will open your eyes to why all of this is nothing to be trusted.
Why You Should Beware of fxmaster.live
There are more than just a few reasons not to trust fxmaster.live. However, for the sake of this review, here are three major reasons to beware of this scam…
FXMaster Live Withdrawal and Deposit
One shocking fact about fxmaster.live is that they give almost no information concerning their deposit and withdrawal policy. We understand that their minimum deposit is $25, but we also discovered that this payment can be made without account verification.
Somehow, we don’t think this is a good sign. How are we supposed to trust that our funds are safe with them when they are already this loose at the deposit stage.
Fxmaster,live also has a bitcoin deposit option, one you can only use with their own platform. Need we remind you that bitcoin transactions are highly untraceable. Hence, they are used mostly by scam brokers for deposits.
Other things FXMaster brokers don’t mention on the website include; the withdrawal and deposit fees, the account dormancy fee, etc. Did somebody say red flag?!
Fxmaster.live Trading Platform
FXMaster.live does not offer clients either of the popular MetaTrader 4 or MetaTrader 5 platforms, which are currently at the top of the forex market. Thats not all, they do not even have their own trading platform. It’s awful!
What they do offer is a few auto forex trading plans, whose mode of operation is not stated. The trading promises there are ridiculous and simply spell S-C-A-M.
One of them says $1000 as deposit, with 50% profit everyday for 30 days. This should give you something around 5000% profit per month. Oh, if wishes were horses…
We would advise you to stay stay away from this false broker. But wait, there’s more…
FXMaster Live Licensing and Regulation
You might remember earlier in this review where we mentioned that Fxmaster.live posted a registration number that was supposedly theirs. It turns out the number belonged to a company named BITT-X Limited, a company that was closed down officially on the 7th of January 2020.
Secondly, the photo above shows a warning by the FCA to fxmaster.live, disclaiming authorisation or regulation over the brokerage company. Reports also have it that they receved a similar warning from Spain’s Financial Regualatory agency.
In case you’re still wondering what we’re driving at, FXMaster broker is a unlicensed. An unlicensed broker is illegal and should not exist.
FXMaster Live Review Conclusion: Is Fxnaster.live Legit?
No. FXMaster.live is a scam! It claims false papers and identification numbers and has been publicly disclaimed by the FCA. We always recommend our readers to find a licensed broker, regulated by a reputable agency to trade with. Illicit brokers such as fxmaster.live should be avoided at all cost.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!
