Home -

Main body -

WikiFX Express

TMGM

Keep Away: Mastertradeplusfx is a Scam Broker

WikiFX | 2023-03-20 12:30

Abstract：Since trillions of dollars change hands on the foreign exchange market daily, it becomes highly intriguing to scammers.

On top of that, increasing numbers of financial intermediaries in the forex market make finding a legitimate broker even more challenging. This piece will drive your attention to a scam broker - Mastertradeplusfx.

Mastertradeplusfx - A Quick Overview

Mastertradeplusfx (https://mastertradeplusfx.com/) claims to be a forex and CFD broker based in the United Kingdom, facilitating retail trading across multiple financial markets, including forex, stocks, indices, energies, commodities, and cryptocurrencies. While the broker claims to offer unparalleled trading conditions, a diverse range of trading platforms, and multiple account types, it also boasts its multi-regulated environment and competitive pricing structure. Considering the need of newbies, the company also provides educational resources. Since the company neither provides telephonic support nor offers live chat, clients can only raise their concerns with the company via email. However, you may also contact the broker on social media platforms like Facebook, Twitter, Youtube, Instagram, etc.

Is Mastertradeplusfx Regulated？

No! Mastertradeplusfx is not regulated. Although the company claims to hold multiple regulations, no evidence can be found to confirm its claim. And we are sure the broker lies about its regulation status, as the screenshot from FCA below.

Is Mastertradeplusfx Legit？

No! Mastertradeplusfx is not a legitimate broker. The company deliberately makes false claims to mislead clients and make them lose their money.

First, the broker claims to hold regulations in multiple jurisdictions, including its home country (United Kingdom). According to the company, the Financial Sector Conduct Authority (FSCA) regulates it in the UK. However, the FSCA is a South African Regulatory Authority that has nothing to do with the regulations of UK-based brokers. Instead, all brokers operating within the UK must have a valid license from the Financial Conduct Authority (FCA).

Further, the company's website has many broken links, except for the signup page. It seems that the broker only wants you to sign up, deposit funds, and leave away from the money forever.

Moreover, the fund can only be deposited via cryptocurrencies. The broker doesn't support any other payment method, and the reason is apparent - the company doesn't want to reveal its identity. So it may remain untraced.

Has Mastertradeplusfx Ever Been Blacklisted？

Yes! the UK's regulator FCA has recently blacklisted the firm after finding it engaged in providing unauthorised trading services to UK nationals. The regulator warned the public that if something goes wrong, affectees won't have any recourse through the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).

Bottom Line:

Mastertradeplusfx is a confirmed scam broker blacklisted by the FCA. The company plays professionally to trap clients and make them lose their funds. When you visit the broker's website, you might be unable to differentiate it from a legit broker's website. Further, the company has mentioned false information about its regulatory status on its website, so newbies might consider it a legitimate broker. Fraud elements dress themselves up to look legitimate.

Related broker

Not Regulated

Mastertradeplusfx

Company name：Mastertradeplusfx

Score

1.45

Website：https://mastertradeplusfx.com/

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.45

Oron Trade Review 2026: Why Should I Accept Just $100 Out of $15000 Balance? Read Our Investigation!

This is the problem an Indian trader reportedly faced on the Oron Trade platform. The Saint Lucia-based forex broker, despite receiving positive reviews for a low minimum deposit and a 5% monthly withdrawable bonus, continued to be criticized by users for its withdrawal processing. In this Oron Limited review, we have thoroughly investigated user claims and revealed whether this brokerage firm is regulated.

Original 2026-07-17 21:38

TopFX Review 2026: Profits Earned, Account Terminated, Withdrawal Denied? Check This Investigation

TopFX, a Cyprus-based brokerage entity, continues to face user allegations globally, including those in South Asia. While complaints against the firm are on several issues, the one that is very concerning is the alleged account termination following a withdrawal request by traders upon profit generation on the platform. Traders have even opposed deposit delay and operational glitches concerning leverage. In this TopFX review, we have examined wide-ranging allegations against the broker while also sharing its regulatory framework for an informed decision-making experience.

Original 2026-07-17 20:20

octa Review 2026: Is There an End to My Endless Failed Withdrawal Requests? We Examined This Claim

octa, a Cyprus-based brokerage company, continues to face a common question from traders: when will my withdrawal requests be successfully processed? Maybe not literally, but contextually, it is allegedly the issue many traders have reported on broker review platforms such as WikiFX. Regardless of the trader’s region, be it South Asia, Indonesia, Brazil or any other, most traders have expressed their concerns over the alleged withdrawal delays or denials. In this octa review, we have examined several user allegations concerning withdrawal issues and other problems encountered on the platform.

Original 2026-07-16 22:17

Why Is My Forex Withdrawal Still Pending? 7 Broker Excuses Traders Keep Hearing

Withdrawal delays are precisely the complaint we keep receiving on WikIFX, a veteran in the forex regulation inquiry space. While some users receive withdrawal access initially and find rejections on their applications later, some fail to receive a single approval. Some delays usually result from genuine compliance requirements that brokers need to adhere to. However, in many cases, traders have accused the broker of repeated excuses as part of its alleged strategy to deny a seamless fund release. A pending withdrawal cannot be an outright indicator of fraudulent activity. Financial institutions, including forex brokerage entities, need to abide by the anti-money laundering (AML) and Know Your Customer (KYC) regulations. However, as the monitoring process stretches beyond weeks or months, traders become frustrated and raise questions over the broker’s reliability.

Original 2026-07-15 21:04