Abstract：M4Markets, a Seychelles-based forex broker, is accused of severe glitches by traders worldwide. While users have reported actively about withdrawal denials by the broker, the alleged excuse by it has not gone down well with its clients. Moreover, the accusation of illegitimate profit cancellation and serious platform glitches has not helped the broker’s reputation either. In this M4Markets review article, we have examined several cases alleging misconduct by the broker. Keep reading!
M4Markets, a Seychelles-based forex broker, is accused of severe glitches by traders worldwide. While users have reported actively about withdrawal denials by the broker, the alleged excuse by it has not gone down well with its clients. Moreover, the accusation of illegitimate profit cancellation and serious platform glitches has not helped the brokers reputation either. In this M4Markets review article, we have examined several cases alleging misconduct by the broker. Keep reading!
M4Markets Overview: Company Profile, Platforms & Account Types
M4Markets, as per the information available on its official website, claims to be a leading CFD broker for a wide range of markets - Forex, Commodities, Indices, Shares and Crypto. The broker advertises raw spreads from 0 pips, an average execution time of 30 ms, a minimum deposit of $5, and a leverage of up to 1:1000. Like most brokers, M4Markets offers both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The broker offers these trading accounts to traders with different minimum deposit requirements:
- Standard ($5)
- Raw Spread ($500)
- Premium ($10,000)
- Dynamic Leverage ($5)
- Cent ($5)
A Host of Trading Conditions to Consider
Top Forex Trading Complaints Against M4Markets
Withdrawal Denial, Excuses & Charges
An Indian trader slammed M4Markets online for its alleged misconduct upon a withdrawal request. Following the delay, the trader asked the broker‘s official about it. However, the trader reportedly heard excuses and received unresponsive behavior. When it was about depositing, the official was tagged as ’aggressive‘ and ’pushy by the trader. The subsequent dormant fees of $30 did not please the trader either. Frustrated by these, the trader shared a negative M4Markets review online.
Trader Alleges 6-Month Withdrawal Delays, Dormant Fees & Repeated Excuses from M4Markets
A trader claimed to have been unable to withdraw funds from M4Markets for over six months, alleging repeated excuses and declined withdrawal requests despite multiple attempts. The user also stated that while he was unable to trade due to platform compatibility issues with Apple Mac, the account continued to incur about $300 in dormant fees. Additionally, the trader alleged that the account manager frequently pressured them for deposits and that the broker blamed the bank for a declined transfer. However, according to the trader, the bank denied such claims.
The Account Lock Case Involving an Alleged Contradictory Stand on Profits & Losses
Another Indian trader claimed several excuses used by the broker to deny withdrawals of profits worth $6000 on the platform. The trader reportedly sent an email to the exchange to which he did not receive any response. Instead, the broker locked the account. While sharing this M4Markets review, the trader highlighted an alleged contradictory stand of the broker while earning profits & losses. According to the trader, the broker does not share any opinion during losses. However, as profits appear on the M4Markets login, the broker gives numerous reasons to deny withdrawals. This screenshot below highlights the sufferings the trader allegedly had with the broker.
Profit & Initial Deposit Cancellation Claim
A trader from India reportedly earned profits on the M4Markets platform. However, the broker allegedly cancelled the same along with the initial deposit, claiming violation of negative balance protection norms. Viewing this as a suspicious trading activity, the trader urged others to stay away from this broker. Check out this review, where the trader expressed concerns.
Withdrawal Denial Despite Document Submission
Adding to the list of accusations against M4Markets, a trader highlighted a withdrawal denial where, despite submitting the documents, he could not gain approval from the broker. What‘s more, the trader reportedly failed to access the broker’s app function. We shared another M4Markets review, highlighting the mess the trader supposedly witnessed.
Profits Earned Through News Trading Blocked
A trader complained about the blockage of profits generated through CPI news trading by M4Markets. The trader reportedly stated about the brokers permission for news trading strategies. However, as the trader requested withdrawals, his trading account was suspended. The trader admitted to having received just the deposit amount. Check out this screenshot, exposing this claim against M4Markets.
M4Markets Review by WikiFX: Is the Broker Regulated?
The growing number of complaints concerning fund withdrawals and profit blocks is indeed a cause of concern for traders. It automatically leads to a question : Is M4Markets regulated? The answer is YES. The firm is regulated in Cyprus. However, the spurt in complaints led to a bit of a drop in its score. The WikiFX team has assigned it a score of 6.54 out of 10.
For an extensive review of different brokers, their regulatory status and other updates, download our new WikiFX app.
