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Is MASON FORD a scam broker?
The online offshore forex broker called MASON FORD deals with cryptos and foreign exchange. It offers four types of trading accounts. Unfortunately, the information available on the website is very limited. So we decided to analyze this broker in-depth in this scam broker review.
About MASON FORD:
We would like to mention some of the advantages of MASON FORD first. As mentioned above MASON FORD does not provide information about spreads on its website. Fortunately, while the testing broker’s provided platform we came across a spread of 0.9 to 1.0 pips (floating) on prime FX pair of USDollar/Euro. This spread is attractive and reduces the cost of trading. However, the cost of trading is unimportant considering the legality of the broker. Also, talking about some more advantages of this broker, it offers a variety of assets and higher leverages. The offered assets include more than three hundred products consists of FX pairs, stocks, indexes, and various commodities. It also features a range of cryptos. Moreover, it also offers higher and aggressive leverage of up to 1:1000. Please keep in mind these higher and aggressive leverages are prone to more loss.
Here we will mention the disadvantages of this broker. This broker is the trademark of MASON FORD Group but fails to offer further information on its nature. This anonymity leads to suspicion about MASON FORD.
The contact number provided on MASON FORD’s website is UK based. It is mandatory for EU based brokers to have a license from the authorities like CyCES, FCA and other Financial Authorities. While rechecking with those Financial Regulatory Authorities we fond no mention of MASON FORD. Hence it is proved this broker is unlicensed and unregulated and makes it uncredible. Furthermore, the trading conditions are undisclosed. We do not get any idea of leverages, minimum deposits, swaps, commission, etc for any of four account types. This opaqueness of this trader is unacceptable and many traders will avoid this broker. The trading platform provided is not MetaTrader and the broker’s provided platform is very poor in performance. The provided platform is so unique that we have never come across it so far.
Is MASON FORD scam or legit?
This broker is not at all regulated and licensed. The information on trading conditions is limited. The leverage offered is very high and can cause heavy losses. We can firmly say that the investments are prone to lose and unsafe with MASON FORD. Hence, this is a red flag to us and advised to avoid it.