Established in 2019 in the Marshall Islands, Brokermasters is an online financial services provider that offers access to trade forex, indices, commodities, CFDs, and other financial markets. The broker provides traders with the MetaTrader 4 trading platform, which is available in desktop, web, and mobile versions. Traders benefit from some useful trading tools and educational resources, and there is also a client support team to assist traders. The broker allows traders to choose their desired trading account types from various available account options. The minimum deposit required to operate a live trading account is $500; a commission fee of $7 is charged on trades; and leverage of up to 1:50 is available.
Brokermasters Review Introduction
In this Brokermasters review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Brokermasters.
Brokermasters Platforms & Tools
Trades are carried out via the MT4 trading platform, a popular trading platform released by MetaQuotes in 2005. The platform is used by many forex and CFD traders worldwide because of its simple yet advanced interface that is suitable for traders of all experience levels. It features market charts, technical analysis indicators, and many more.
The broker makes the MT4 platform available as a desktop application for Windows and Mac computers; a web version that can run directly on Chrome, Safari, Firefox, Edge, and other modern web browsers; and a mobile app that is compatible with Android and iOS devices. The mobile app allows traders to place trades and check trading positions while on the move.
Brokermasters Research & Education
The broker provides traders with several educational resources to improve their trading skills and knowledge. They include Trading Academy, Forex Trading Basics, and an FAQ section that answers some of the most common questions that traders may have.
Brokermasters Trading Accounts
There are multiple trading account options when trading with Brokermasters, and the spreads start from 0.6 pips with a $7 commission on trades. The accounts have different minimum deposit requirements as follows: ECN ($500), Mini ($5,000), Standard ($50,000), Gold ($100,000), and Platinum ($150,000) accounts.
Brokermasters Account Funding
The broker accepts the following payment methods for both account deposits and withdrawals:
- Credit/Debit cards
- Bank wire transfer
- Online payment processors ( Web money, Neteller, and Skrill)
Some payment methods may not be available in specific countries, while the transaction processing time may vary depending on the payment method in use.
Brokermasters Customer Service
Clients are allowed to direct all their trading inquiries to a knowledgeable client support team that can be reached via telephone, email, and ‘get in touch’ form.
There is no regulatory information on the broker’s website at the moment. This can be seen as a warning sign by potential traders and investors who are looking to open an account with them.
Brokermasters Review Summary
Brokermasters is an online trading broker that is based in the Marshal Islands. They provide traders with the MT4 trading platform for trading multiple financial instruments. They also offer a selection of useful trading and learning materials, and there is a client support team available to assist traders. The minimum deposit required to operate a live account is $500. However, there is no regulatory information on the broker’s website at the moment.
It is worth mentioning that some of the trading products and services in this Brokermasters review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Brokermasters website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.