MAKASKY Forex Broker

Makasky Forex Broker - Complete Information Guide

1. Broker Overview

Makasky Limited, established in 2018, is a Malaysian-based forex broker headquartered at Office Suite 1602, Level 16(A), Main Office Tower, Financial Park Complex, Jalan Merdeka, 87000 F.T. Labuan, Malaysia. This broker operates as a private entity, catering primarily to retail clients seeking access to various financial markets. The company has made significant strides since its inception, establishing a reputation within the forex and CFD trading community.

Makasky broker offers a range of trading services, including over 40 currency pairs and a variety of CFDs covering indices, commodities, and stocks. The broker's commitment to providing a secure trading environment is evidenced by its regulatory compliance with the Labuan Financial Services Authority (LFSA). As a relatively new player in the market, Makasky has been focused on building a robust trading platform and enhancing its service offerings.

The primary business model of Makasky is retail forex trading, with a focus on providing a user-friendly trading experience through the MetaTrader 4 platform. The broker aims to cater to both novice and experienced traders by offering various account types and educational resources designed to support clients in their trading journey.

2. Regulatory and Compliance Information

Makasky is regulated by the Labuan Financial Services Authority (LFSA), which is responsible for overseeing financial services in Labuan, Malaysia. The regulatory license number for Makasky is MB/16/0012. This regulatory framework ensures that the broker adheres to industry standards and practices, providing a level of credibility and assurance to its clients.

The LFSA's oversight includes the enforcement of compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. These measures are crucial for maintaining the integrity of the financial system and protecting clients' funds. Makasky broker ensures that client funds are kept in segregated accounts, providing additional security in the event of financial difficulties.

Furthermore, during the evaluation period, no negative regulatory disclosures were found for Makasky, indicating a clean compliance record. This adds to the broker's reputation as a compliant entity within the financial services industry.

3. Trading Products and Services

Makasky broker offers a diverse range of trading products, primarily focusing on the forex market. The broker provides access to over 40 currency pairs, including major, minor, and exotic pairs. This variety allows traders to engage in a wide range of trading strategies and capitalize on different market conditions.

In addition to forex, Makasky offers Contracts for Difference (CFDs) on various asset classes, including:

• Indices: Major global indices allowing traders to speculate on overall market movements.
• Commodities: Trading options on precious metals, energy products, and agricultural goods.
• Stocks: Access to a selection of shares from leading companies.
• Cryptocurrencies: While not explicitly stated, the growing demand for crypto trading suggests that brokers may expand their offerings in this area.

Makasky is committed to regularly updating its product portfolio, ensuring that traders have access to the latest market opportunities. The broker's trading services are designed for retail clients, with a focus on providing a comprehensive trading experience.

4. Trading Platforms and Technology

Makasky broker utilizes the MetaTrader 4 (MT4) platform, which is well-regarded in the trading community for its user-friendly interface and robust functionalities. The broker does not currently support MetaTrader 5, focusing instead on enhancing the MT4 experience for its users.

The MT4 platform offers various features, including:

• Customizable charts and indicators: Traders can analyze market trends and develop strategies using a wide array of technical analysis tools.
• Automated trading capabilities: The platform supports algorithmic trading through Expert Advisors (EAs), allowing traders to automate their trading strategies.
• Cross-platform compatibility: Users can access their accounts via desktop, web, and mobile applications, facilitating trading on the go.

Makasky operates on a Straight Through Processing (STP) model, which means that orders are executed directly in the market without any dealer intervention. This execution model is designed to enhance the trading experience by providing faster order execution and reduced slippage.

The broker's technological infrastructure is built to handle high volumes of trades efficiently, with servers located in strategic locations to minimize latency. Additionally, Makasky supports API access for traders interested in integrating their trading systems with the broker's platform for automated trading solutions.

5. Account Types and Trading Conditions

Makasky broker offers several account types to cater to different trading needs and experience levels. The primary accounts include:

• Standard Account: This account type typically requires a minimum deposit, which is not explicitly stated in the available information. It offers competitive spreads and access to the full range of trading instruments.
• Demo Account: Designed for beginners, this account allows users to practice trading strategies without financial risk. It provides a safe environment for new traders to familiarize themselves with the platform and trading dynamics.

The maximum leverage offered by Makasky is approximately 1:100, enabling traders to control larger positions with a smaller amount of capital. This leverage can amplify both potential profits and risks, emphasizing the need for responsible trading practices.

The broker also specifies minimum trading lot sizes and overnight fees, although detailed information regarding these aspects is not explicitly provided in the available data. Traders are encouraged to review the specific terms associated with each account type before opening an account.

6. Funds Management

Makasky broker supports a variety of deposit methods to facilitate seamless fund management. Clients can deposit funds using:

• Bank Transfers: A secure method for transferring larger sums.
• Credit/Debit Cards: A convenient option for quick deposits.

The minimum deposit requirements for different account types are not explicitly stated, which may pose challenges for potential clients assessing their financial commitment.

Deposit processing times are generally prompt, although specific time frames are not detailed. Importantly, Makasky distinguishes itself by offering no fees for deposits, withdrawals, or changes in leverage and lot sizes. However, clients should remain aware of potential bank charges associated with international transfers.

Withdrawal methods include bank transfers and credit/debit cards, with processing times varying based on the method chosen. Again, the specific fee structure for withdrawals is not detailed in the available information.

7. Customer Support and Educational Resources

Makasky broker provides customer support through various channels to address client inquiries effectively. Clients can reach out via:

• Telephone: +60 87 421 644 for direct assistance.
• Fax: +60 87 421 646 for written correspondence.
• Email: info@maka-sky.ltd.com for general inquiries.

The broker operates within a specific time zone, although detailed service hours are not explicitly provided. Makasky supports English as its primary language, which may limit accessibility for non-English speaking clients.

In terms of educational resources, Makasky offers a comprehensive FAQ section that addresses common questions related to trading, account management, and platform usage. While this resource is beneficial, the broker does not appear to provide extensive educational materials such as webinars or tutorials.

8. Regional Coverage and Restrictions

Makasky broker primarily serves clients in Malaysia and potentially other regions, although specific service markets are not explicitly detailed. The broker's regional offices are located in Labuan, Malaysia, emphasizing its focus on the Southeast Asian market.

However, certain countries may be restricted from accessing Makasky's services due to regulatory compliance or internal policies. Details regarding specific countries or regions that are not accepted are not provided.

In summary, while Makasky broker demonstrates a commitment to providing a diverse range of trading products and services, potential clients are encouraged to conduct thorough research and consider the outlined limitations when evaluating this broker for their trading needs.