Marketmakers has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to CrestyBase Trade Fx. We’ve received over 4 complaints against Marketmakers.
Marketmakers claims to be an award-winning forex broker with nearly two decades of experience, but a detailed review raises serious questions about its legality. This analysis highlights the warning signs associated with Marketmakers and guides you to reliable brokers for trading in the financial markets. Always verify a broker’s regulation status and license to ensure safety.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is Marketmakers Regulated? Do They Have a License?
Marketmakers presents itself as an award-winning forex broker with nearly two decades of experience. However, a detailed analysis raises serious questions regarding its legality. This review highlights the warning indicators associated with Marketmakers and directs you to reliable brokers for trading in the financial markets.
A credible financial services provider must give clear and comprehensive information about its structure, base of operations, and regulatory licensing. Legitimate brokers provide detailed legal documents. The absence of these parts is a clear indicator of possible problems.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Marketmakers might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Marketmakers, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Marketmakers
The website is operated by Market Makers Management Ltd. However, it lacks a contact address and regulatory license information. More troubling is the absence of the Terms and Conditions, Customer Agreement, and other legally binding documents. Despite providing a UK location for its advisory sections, checks with financial regulators in the UK, Poland, and Bulgaria show that Market Makers Management Ltd is not a licensed broker in these countries.
When investing in financial products, make sure the broker is completely regulated. Regulatory agencies, such as the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), provide assurances such as negative balance protection and fund security for amounts up to €20,000 in the EU and £85,000 in the UK. Regulated brokers must also keep operating money separate from customer funds to ensure investor protection.
Marketmakers utilize a web-based trading platform. However, the presence of trading software does not imply the broker’s legitimacy. Financial scammers frequently use rigged platforms to trick victims into believing their money is being invested when it isn’t.
Legitimate brokers offer a variety of trading tools, including desktop, mobile, and web-based platforms. Industry-standard platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) provide a plethora of features, customisation possibilities, and automated trading functionality.
Most respectable brokers require an initial deposit of $100 or less, whereas marketmakers require at least $1,000.
While Marketmakers’ homepage displays logos for popular payment methods, the deposit menu only includes cryptocurrencies and obscure processors that accept Russian rubles and Central Asian currencies. In contrast, legitimate brokers provide obvious payment methods like as bank transfers, credit/debit cards, and established e-wallets.
Marketmakers provide trading in a variety of instruments with seemingly low spreads. However, the lack of openness surrounding commissions and fees causes worry.
Marketmakers promote leverage of up to 1:1000, which exceeds what top regulators allow. High leverage can result in significant profits, but it also raises the danger of unexpected, big losses.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
Marketmakers Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Marketmakers Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Marketmakers might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Marketmakers reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Marketmakers, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Marketmakers enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Marketmakers reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Marketmakers.
You should always look out for consumer complaints. In the case of Marketmakers, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Marketmakers? You can share your complaint in the comment section or submit an anonymous tip.
Is Marketmakers Legit Or a Scam?
Marketmakers is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Marketmakers can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Marketmakers?
Marketmakers does not make its Terms and Conditions or Client Agreement publicly available, which can result in unexpected expenses and difficult withdrawal processes.
Marketmakers positions itself as a respectable forex broker, however it lacks transparency on critical information and security measures. Before investing, you must properly examine a broker’s credentials to protect the safety and security of your cash.
All the evidence suggests that Marketmakers might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
