Mason Ford

Mason Ford seems like a normal broker, until you figure out that it mentions no license issuer nor an operational address.

Many shady brokers do not give out any names of where they are headquartered, and Mason Ford is no exception. This broker has us puzzled as to its location and regulation, if any. After a detailed search we can confirm that there isn’t the slightest hint of a license or an address, meaning that we have no choice but to deem this broker UNREGULATED, and a risk to all investors.

We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.

The trading platform can be opened without registering, but even so we registered in order to get right on top of things.

The leverage offered is unknown. It has not been indicated anywhere. As for the EUR/USD cost of trade, it’s 0.9 pips which is actually a very trader friendly number.

The platform gave us the following assets to work with: Forex Pairs, Indices, Stocks, and Commodities.

The website is available exclusively in English.

MASON FORD LOGIN

The broker utilizes the typical fraudulent broker trading platform with a semi-third party chart. Traders can still open and close positions, but that does not rule out the fact that the platform is not really in their name. Not to mention that the trader is just a click away from the Home Page, something that legitimate brokers never do.

The EUR/USD spread taken from the chart is 0.9 pips, and the leverage value as we already mentioned is not indicated anywhere.

The alleged trader is solely browser based.

MASON FORD MINIMUM DEPOSIT

The minimum deposit, according to the Client Portal is €250, and the only means of depositing is via a Credit Card.

Readers should be aware that the Client Portal is the safest source of info concerning deposit and withdrawals. If the broker claims contradicting things on the website like more deposit methods or higher minimum deposits, then be sure to trust only the client portal. Furthermore, this broker is clearly not legitimate and not regulated, meaning that who knows what they will do with your investment. Traders should deal exclusively with brokers regulated by exemplary agencies such as the FCA or CySEC, for they oversee a brokers activities from head to toe with a severe case of diligence.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

Never give away your CVV code without first making sure that the broker is regulated by an efficient agency. By giving away your Card info with the CVV code to some unconfirmed person you are literally giving access to your funds, and if these details fall into the wrong hands, rest assured that your bank account will be promptly emptied.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

MASON FORD WITHDRAWAL TIME AND FEES

There is no withdrawal tab in the Client Dashboard, which leads us to believe that either the broker only reveals it to verified customers, or that it will not give you the option to withdraw.

What ever the case is, there is no minimum withdrawal amount indicated anywhere.

Furthermore, withdrawal processing times are as vague and as unnumbered as ever.

There seem to be no withdrawal fees, although seeing as this is an unregulated broker users should be prepared for incoming charges.

ADDITIONAL FEES AND TAXES

There is a dormant fee of $50 should the user be inactive for more than 12 months.

As many illicit brokers have done before, Mason Ford has a clause that absolves them from any damage they do to a trader. This is their secret weapon used when a user tries to take legal action. The clause is somewhat long, but is important to be noted in its entirety:

Mason Ford will try to postpone any withdrawal request. he most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.

ACCOUNT VERIFICATION

Traders will sooner or later realize that something is a foot. Filing for a chargeback might not be as easy as it seems if, beforehand, the user has given away a copy of his ID and proof of address to the unlicensed broker. With these in their possession the broker can easily refute any claims you might have against them.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The only way to recover is by filling for a charge back, and hoping it’s not too late.

If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.

At some point or another you might stumble upon a “recovery” agent or agency that promises to retrieve all your money back. This sounds all too good to be true, and that’s because it isn’t. Before proceeding with the recovery they will ask a payment for their services. If you chose to indulge them, they will disappear with the money without a hint of remorse.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Mason Ford is the typical scammer broker: no regulation, no hint of an address, and a lot of information that is missing. Why would we ever recommend this one to anyone? Stay back!