MAKASKY Overview

MAKASKY, A Forex Brokerage Company Established In Malaysia In 2017, Is Regulated By The Malaysian Financial Supervisory Authority (LFSA). The Company Offers A Diverse Range Of Financial Instruments, Including Over 40 Currency Pairs (major, Minor And Exotic) On The Forex Market, As Well As Contracts For Difference (CFDs) Covering Indices, Commodities And Stocks.

Suitable For Traders Of All Experience Levels, MAKASKY Offers Both Demo And Standard Account Types, Using The MetaTrader 4 Trading Platform. The Platform Supports A Maximum Leverage Ratio Of Approximately 1:100, Enabling Traders To Control Larger Positions With Relatively Small Amounts Of Capital.

With A Commitment To Transparency And Customer Support, MAKASKY Offers A Variety Of Communication Channels Including Telephone, Fax And Email. Deposit And Withdrawal Options Include Bank Transfers And Credit/debit Cards. Educational Resources Are Enriched Through A Comprehensive FAQ Section, Providing Traders With Valuable Insights And Guidance To Help Them Understand The Complexities Of Financial Marekt.

Pros And Cons

Pros:

1. Regulatory Oversight: Regulated By The LFSA
1. Regulated By The LFSA (possibly The Labuan Financial Services Authority), Adding Layers Of Credibility And Assurance That Demonstrate Compliance With Regulatory Standards And Practices. Traders Can Have Confidence In A Safe Trading Environment.
2. Diversified Market Instruments: Offers A Wide Range Of Currency Pairs And CFDs.
1. The Availability Of Diverse Financial Instruments Such As Contracts For Difference (CFDs) On Various Currency Pairs And Indices, Commodities And Stocks, Provides Traders With Multiple Options To Create A Diversified Portfolio.
3. Types Of Accounts: Offers Both Demo And Standard Account Options.
1. Offers Both Demo And Standard Account Types To Meet The Needs Of Traders With Different Experience Levels. Demo Accounts Allow Beginners To Practice Without Financial Exposure, While Standard Accounts Offer A More Traditional Trading Experience.
4. Maximum Leverage: Offers Competitive Maximum Leverage Of Approximately 1:100.
1. Competitive Maximum Leverage Of 1:100 Allows Traders To Control Larger Positions With Relatively Little Capital, Potentially Amplifying Profits, But Also Increasing Risk.
5. Communication Channels: Multiple Support Channels Offers Multiple Support Channels, Including Phone And Email, Enhancing Accessibility For Clients Seeking Help. This Demonstrates A Commitment To Customer Support And Responsiveness.

Cons:

1. Limited Educational Resources
1. The Description Mentions A Comprehensive FAQ Section, But The Lack Of Detailed Educational Resources May Hinder The Learning Experience For Traders Seeking More In-depth Knowledge And Guidance.
2. Limited Deposit Information
1. The Lack Of Specific Information About Minimum Deposit Requirements May Make It Difficult For Potential Clients To Evaluate The Financial Commitment Required To Open An Account With MAKASKY.
3. Limited Information On The Platform
1. The Description Lacks Detailed Information About The Trading Platform, Such As The Specific Features, Tools And Functionalities Offered By MetaTrader 4. A More Comprehensive Overview Of The Platform Will Help Traders Make Informed Decisions.
4. Lack Of Spread Details Lack Of Specific Information About Spreads May Leave Traders Feeling Uncertain About The Cost Implications Of Trading With MAKASKY. Detailed Spread Information Is Essential For Transparent And Informed Decision Making.

Regulatory Status

MAKASKY Is Subject To Regulatory Oversight In Malaysia And Its Regulatory Status Is Currently Classified As "regulated".

The Specific License Type To Which MAKASKY Belongs Is "Straight-Through Processing (STP) ". This Regulatory Framework Ensures That Brokers Adhere To Industry Standards And Practices. MAKASKY's Regulatory License Number Is MB/16/0012, Providing A Unique Device Identifier That Can Be Used For Reference.

Market Tools

Retail Forex Broker MAKASKY Offers A Comprehensive Range Of Products For Both Experienced And Novice Traders. In The World Of Forex Trading, They Offer Trading On Over 40 Currency Pairs, Including Major Currency Pairs, Minor Currency Pairs, And Exotic Currency Pairs. The Platform Enables Traders To Amplify Their Positions By Offering Competitive Spreads And Leverage Of Up To 1:100.

In Addition, MAKASKY Has Extended Its Product Portfolio To Contracts For Difference (CFD) Trading. This Feature Enables Users To Speculate On A Wide Range Of Financial Instruments Including Indices, Commodities, And Stocks Without Actually Owning The Asset.

Account Types

MAKASKY Caters To Different Trading Styles And Experience Levels Through Carefully Designed Account Types. Whether You Are A Seasoned Professional Looking For Low Spreads And Advanced Features, Or A Newbie Curious About The World Of Forex, There Is An Account To Suit Your Needs.

Demo Account: Ideal For Beginners To Try Forex Trading, Micro Account Offers A Safe And Affordable Entry Point. With Minimum Deposit Requirements And Micro-trading, You Can Test Strategies And Increase Confidence Without Risking Significant Capital. Tight Spreads And Educational Resources Further Support Your Learning Journey.

Standard Account: Aimed At Traders Seeking A Balance Between Affordability And Flexibility, Standard Account Offers Access To MAKASKY's Full Range Of Tools And Competitive Spreads. Leverage Options Cater To Conservative And Medium Risk Appetite, While Advanced Charting Tools And Market Analysis Give The Ability To Make Informed Decisions.

How Do I Open An Account?

To Open An Account With MAKASKY, You Should Follow These Steps:

1. Select Account Type: Select Personal Or Corporate Account. Personal Accounts Need To Provide Necessary Identification Documents Such As Passport Or Driver's License Accounts. Corporate Accounts Need To Provide Detailed Documents Including CEO/executive Identification, Company Registration, Financial Reports And Board Meeting Notes Accounts.
2. Download And Agree To Policies: Download And Review The Terms And Conditions, Privacy Policy, Policy And Risk Alerts And Disclaimers. Agree To These Policies.
3. Prepare And Submit Documents: Scan And Compress All Required Documents, Ensuring The File Size Limit Is 10 MB. For Individual Accounts, Send Compressed Files Via The Online Form; For Corporate Accounts, Submit The Originals To The MAKASKY Office.
4. Review And Confirmation Fees: Understand And Acknowledge The Transaction Fees (deposits, Withdrawals And Changes To Leverage/lot Size Are Free Of Charge) And Acknowledge That Bank Fees Will Be Borne By You.
5. Acknowledge The High Risk Warning: Acknowledge The High Risk Nature Of Foreign Exchange Trading And Understand The Significant Risk Of Potentially Losing Your Entire Funds. Trade Only With Funds You Can Afford To Lose And Seek Independent Financial Advice If Necessary.
6. Submit An Application And Wait For Approval: Submit Your Application And Required Documents. MAKASKY Will Review Your Submission And Inform You Of Your Decision Via Email.

Deposits And Withdrawals

MAKASKY Provides Users With Convenient Payment Methods For Deposits And Withdrawals, Ensuring Flexibility And Security. The Most Common Method Is Bank Transfer, Which Provides Users With The Flexibility To Transfer Funds Securely. To Initiate A Bank Transfer, Customers Need To Provide Their Bank Account Details As Well As MAKASKY's Bank Details For Telegraphic Transfer.

For Those Looking For A Quick And Convenient Option, MAKASKY Also Supports Credit/debit Cards As A Payment Method. However, Users Are Advised To Check With Their Bank For Potential Foreign Exchange Transaction Fees Associated With This Method.

In Terms Of Fees, MAKASKY Stands Out By Offering Free Trading For A Variety Of Operations. MAKASKY Does Not Charge Any Fees For Deposits, Withdrawals Or Leverage/lot Changes. However, It Is Important To Note That Users Should Be On The Lookout For Potential Bank Fees. Although MAKASKY Does Not Charge Fees, Banks Involved In International Transfers Or Currency Conversions May Charge Their Own Fees.

Customer Support

MAKASKY Provides Customer Support Through A Variety Of Channels To Answer Queries And Assist Traders. Customers Can Contact The Customer Support Team Directly For Assistance By Phone At + 60 87 421 644. In Addition, For Written Correspondence, A Fax Option Is Also Available At + 60 87 421 646. For More Asynchronous Communication And General Enquiries, Individuals Can Contact The Support Team Via Email Address Info@makaskyltd.com.

Users Can Address A Variety Of Issues By Contacting MAKASKY, Including Account-related Enquiries, Technical Support Or General Information About Trading Platforms And Services.

Educational Resources

MAKASKY Provides A Comprehensive Frequently Asked Questions (FAQ) Section As Part Of Its Educational Resources. The FAQ Section Is A Valuable Resource For Traders, Providing Answers To Frequently Asked Questions And Covering All Aspects Of The Trading Platform, Account Management, Deposit And Withdrawal Processes, And Other Important Topics.

This Self-service Resource Allows Users To Find Information Quickly And Efficiently, Providing Insights Into The Most Common Questions And Concerns Traders May Encounter. The FAQ Section Is A Practical Tool For Both Beginners And Experienced Traders, Enhancing Their Understanding Of The Platform And Services While Promoting A Smoother Trading Experience.

Conclusion

In Conclusion, MAKASKY Was Established In 2017 And Is Regulated By The Malaysian LFSA. It Offers A Diverse Range Of Financial Instruments Including More Than 40 Currency Pairs And CFDs. The Platform Meets The Needs Of Traders Of All Levels Through Demos And Standard Accounts On The MetaTrader 4 Platform And Supports Competitive Maximum Leverage Of Approximately 1:100.