Mashariq has been flagged by Financial Regulatory Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Mashariq locked my account without warning and demanded documents I had already submitted. for the past year and a half later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Segregated accounts|Tax reports included|Clear documentation
Cons: Could offer more webinars|None so far
The so-called education at Mashariq is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for close to eighteen months thinking they would help me learn.
Pros: Good mobile app|Intuitive for beginners
Cons: Limited ETF selection
I was contacted by Mashariq through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Blocked my account|No legitimate license|Fake returns
After for roughly four months with Mashariq I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Customizable dashboard|Clean UI
Cons: Alert system is basic
I experienced a security concern with my Mashariq account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Comprehensive tools|Easy withdrawals|Economic calendar
Cons: No phone support on weekends|Limited ETF selection
The onboarding at Mashariq was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Competitive fees|Fast support response|Market news feed|Regular platform improvements
Cons: Onboarding videos are outdated|Research section could be deeper
If you are reading this considering Mashariq - run. I wish I had read more negative reviews through a forum discussion. I thought the positive ones were real. Maybe some are. My experience over since last summer has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Easy to use platform|Instant funding|Easy withdrawals|Social trading features
Cons: Onboarding videos are outdated|Mobile app could be improved
The reporting at Mashariq is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Personal attention|Segregated accounts
Cons: No dark mode on mobile|Slow to add new assets
I had high hopes for Mashariq after seeing their ad online, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Dividend tracking|Fast execution|Clean UI|Demo account available
Cons: Currency conversion fee exists
I gave Mashariq a fair chance. After for about five months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Great customer service|Dividend tracking|Good mobile app
Cons: Help articles are sometimes vague