NOTE: MasterTrades official site - https://mastertradeinvestments.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is MasterTrade？
MasterTrade, founded in 2014 and registered in the United States, is a financial platform that offers a range of market instruments for trading, including Forex, Binary Options, Cryptocurrencies, Real Estate, Escrow Service, and Personal Loans. It offered diverse account types to suit different trading needs. The trading platform offered by MasterTrade is MetaTrader 4 (MT4), a widely used and respected platform in the financial industry known for its robust features and user-friendly interface.
However, the broker operates without regulatory oversight and the official site of MasterTrade is not currently functional.
Pros & Cons
Pros:
Diverse Market Instruments: MasterTrade offers a diverse array of market instruments, providing users with various trading options to suit their preferences.
Multiple Account Types: The availability of multiple account types caters to different trading needs, allowing users to choose an account that aligns with their specific preferences and strategies.
Reliable Trading Platform: The use of MetaTrader 4 (MT4) as the trading platform is a positive aspect. MT4 is widely recognized for its reliability, advanced features, and user-friendly interface.
Cons:
No Regulation: The lack of regulatory oversight poses a significant risk for traders, as regulatory bodies play a crucial role in ensuring fair practices and safeguarding the interests of investors.
Non-Functional Official Website: The current non-functional state of MasterTrade's official website raises concerns about transparency, accessibility, and the ability of users to obtain accurate and up-to-date information.
Limited Transparency: The lack of regulation and a non-functional official website contribute to limited transparency, making it challenging for users to access comprehensive and trustworthy information about the broker's services and practices.
Is MasterTrade Safe or Scam？
MasterTrade's safety as a trading platform is questionable due to several factors that raise concerns. The absence of regulatory oversight is a significant red flag. Regulatory bodies play a vital role in overseeing financial entities, ensuring compliance with industry standards, and safeguarding the interests of traders.
Additionally, the non-functional state of MasterTrade's official website is a notable concern. The lack of a functional website hinders users' ability to conduct thorough research and make informed decisions. It is challenging to obtain comprehensive and reliable information about MasterTrade, making it difficult to assess the credibility and reliability of the platform.
Market Instruments
MasterTrade offers a diverse array of market instruments, providing traders with various options to engage in different financial markets.
Forex (Foreign Exchange): Forex trading involves the buying and selling of currency pairs, where traders speculate on the exchange rate between two currencies. It is one of the largest and most liquid financial markets globally.
Binary Options: Binary options are a type of financial derivative where traders speculate on the direction of an asset's price within a specified time frame. It's a straightforward form of trading with predefined risks and rewards.
Cryptocurrencies: This involves trading digital currencies like Bitcoin, Ethereum, and others. Cryptocurrency trading can be volatile, and it involves speculating on the price movements of these digital assets.
Real Estate: MasterTrade includes real estate as one of its market instruments.
Escrow Service: Escrow services typically involve a third party holding funds or assets during a transaction until certain conditions are met. This service can add a layer of security to transactions, especially in high-value or complex deals.
Personal Loans: The inclusion of personal loans as a market instrument suggests that MasterTrade may provide a platform for peer-to-peer lending or investment in personal loans. This can be an alternative investment option for users.
Account Types
MasterTrade seeks to meet the diverse needs of traders by offering five distinct account types, each crafted to cater to varying preferences and levels of trading experience.
Starter Plan: The Starter Plan, requiring a minimum deposit of $1,000, is tailored for individuals who are either new to trading or prefer to start with a relatively modest investment.
Master Plus Plan: The Master Plus Plan, with a minimum deposit of $10,000, targets traders with some experience or those willing to commit a higher amount for potentially enhanced features.
Premium Plan: The Premium Plan, requiring a minimum deposit of $20,000, represents a higher tier in MasterTrade's account hierarchy. This account type is designed for experienced traders who desire premium features, personalized services, or exclusive benefits.
Ultimate Plan: The Ultimate Plan is positioned for traders with substantial experience and a higher capital base, as it demands a minimum deposit of $50,000.
Corperate Plan: At the highest level, the Corporate Plan requires a significant minimum deposit of $100,000. This plan is tailored for institutional or corporate clients with larger-scale trading needs.
Commissions
MasterTrade applies a consistent commission structure across all its account types, with a flat rate of 10%. This flat commission rate represents a percentage of the trade's value and is deducted as a fee for the services provided by the broker. The implementation of a flat 10% commission offers a straightforward and transparent fee structure for traders. This uniformity simplifies the calculation of trading costs, providing clarity on the fees associated with each transaction.
Trading Platforms
MasterTrade employs the MetaTrader 4 (MT4) trading platform, widely recognized for its user-friendly interface and robust features. MT4 facilitates efficient trade execution and analysis with intuitive charting tools, supporting various chart types, timeframes, and technical indicators. Traders can customize the platform, create automated trading strategies using Expert Advisors (EAs), and access real-time market quotes, news feeds, and economic calendars.
Payment Methods
MasterTrade offers a variety of deposit methods, allowing users to fund their trading accounts through diverse channels. These accepted deposit methods include traditional options like Bank Wire and PayPal, as well as various Money Order alternatives such as Netteler, Skrill, Moneygram, Bank Wire, and Master Card. Additionally, MasterTrade accommodates users interested in utilizing cryptocurrencies by accepting deposits in Bitcoin.
Customer Service
MasterTrade's customer support can be contacted through email at support@mastertradeinvestments.com. Email is a common and widely used communication method for customer support in the trading industry. It allows users to submit inquiries, concerns, or requests for assistance in a written format.
Conclusion
MasterTrade is a financial platform offering a diverse range of market instruments and catering to various trading preferences through multiple account types. Utilizing the widely recognized MetaTrader 4 (MT4) trading platform adds credibility to its reliability. However, several red flags cast shadows over the platform's overall trustworthiness. The platform's credibility is significantly compromised by the absence of regulatory oversight and the non-functional official website.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
