Operating from the Marshall Islands, Brokermasters is a provider of online foreign exchange (Forex) trading, spread betting, and other related services. The broker strives to provide traders with an intuitive trading environment, offering innovative trading tools, trading education and competitive trading conditions.
Brokermasters Review, Pros & Cons
- MetaTrader 4 trading platforms
- A selection of trading & learning tools
- A range of financial assets
- Not regulated
- Offshore broker
- No USA clients
- Not the tightest spreads
- Not the lowest commissions
- Minimum $500 deposit
- No live chat support
In this detailed Brokermasters review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Brokermasters is an online trading broker that provides traders with a range of intuitive trading platforms for the online trading of different financial markets, such as forex, commodities, indices, equities, and more. They give traders access to a number of trading and learning tools, as well as a responsive client support team. There are multiple account options to meet the varying trading needs of clients.
There is no regulatory information on the broker’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Brokermasters accepts traders from all parts of the world, provided that their countries of residence permit online trading with international brokers.
Some Brokermasters features and products mentioned within this Brokermasters review may not be available to traders from certain countries because of legal restrictions.
Brokermasters provides their clients with the MetaTrader 4 trading platform for trading the offered instruments. The MT4 trading platform is widely used among forex/CFD traders due to its intuitive but user-friendly interface that is suitable for both beginners and the more advanced traders. The MT4 platform is versatile and features market charts, technical analysis, indicators, and more. The broker makes the MT4 platform available as a desktop application for Windows and Mac computers, WebTrader, and a mobile trading app that is compatible with Android and iOS devices and can be freely downloaded from the respective app stores.
Brokermasters Trading Tools
The broker provides traders with technical and fundamental analysis.
There is a vast array of educational resources on the broker’s website, which are designed to try and help traders gain the knowledge required to make informed trading decisions. They include a Trading Academy, Forex Trading Basics, and an FAQ section.
The broker offers the following trading instruments: forex, commodities, indices, equities, and more.
Brokermasters Accounts & Fees
Brokermasters offers a choice of different trading account types to meet the individual trading needs of traders. They have unique minimum required deposits as follows: Mini ($5,000), Standard ($50,000), Gold ($100,000), and Platinum ($150,000). There is also the ECN Account with a required minimum deposit of $500, spreads from 0.6 pips, and a commission of $7 on trades.
As broker fees can vary and change, there may be additional fees that are not listed in this Brokermasters review. It is imperative to ensure that you check and understand all of the latest information before you open a Brokermasters broker account for online trading.
The broker’s client support team is available to offer quick responses to clients’ inquiries via telephone, email, and ‘get in touch’ form.
Brokermasters Deposit & Withdrawal
Traders are able to deposit and withdraw funds via the following payment methods:
- Bank wire transfers
- Credit/Debit cards
- Online payment processors, such as WebMoney, Neteller, and Skrill.
Brokermasters Account Opening
Account opening is easy; simply click on the ‘Open an Account’ button and fill out the account application form.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Brokersmasters is a trading broker that provides traders with an online trading environment and resources to enable them to trade different financial assets online. They also give traders a choice of multiple trading account types to meet their individual trading needs. The least deposit required to operate an account is $500, while leverage of up to 1:50 is available on all account types. However, there is no regulatory information on the broker’s website at the moment which could be a red flag for some potential clients.
Trading in financial instruments may result in losses as well as profits. Past performance does not guarantee future results. Trading in leveraged instruments can result in losses greater than the initial invested capital. ensure you fully understand the risks involved and seek independent advice if necessary, taking into account your investment objectives and level of experience.