If you are looking to read Money Fund reviews, you are in the right place. Is This broker a scam or legit? Let’s read complete review to know about the platform before trading.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Money Fund?
Money Fund Bank located at Money-Fund.com is an offshore brokerage company with lot of promises for forex traders . It shows contact address Larnaca.
The brokerage presents variety of account types such as
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. More so, it presents a zero spread difference in Buy/Sell.
How Does Money Fund Broker Work?
Money Fund deposit is provided as $150 based on the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, the broker accepts Bitcoin or Tether. Just so you are aware, scammers prefer to accept crypto currencies which is anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Money Fund withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Does Money Fund Have Trading Platform?
On its website Money Fund offers a simple web-based trading platform with basic functionality. However, that cannot be compared to the advanced trading platforms of MT4/MT5. Many scammers have trading software to fool their victims that their money is being invested.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for Money Fund leverage, it can get up to 1:500. Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Things You Should Know about Money-Fund.com Regulation
First of, Money-fund.com claims to be based in Cyprus – one of the strictest jurisdictions in the EU when it comes to forex trading. But, it does not claim Cyprus, CySEC regulation.
Instead, that it is licensed to operate by multiple other regulators – the FCA (the UK), IFSC (Belize), and the FSC (Mauritius). A quick check of the registers of all of these countries proved, however, that the broker is lying and is not regulated by any of the authorities it has mentioned.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Money-fund Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
Money Fund located at Money-Fund.com disguising to be a trustworthy trading broker, howbeit, that presentation cannot be ascertained. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Read earlier reviews on Hx-trading-option, Aimscap , Forextimeprime brokers
All traders should be very careful in terms of trading with this brokers most of them are not as reliable as we think. I have been dealing with IQoption over the years now and I haven’t been having issues trading with them and this has prompted me to introduce more people to participate in the trading deal but after I made a huge deposit for trading in my account I found out I have been locked out and each time I called the customer service I was always placed on hold and this has been getting rampant so I just decided to try a consultant and luckily I bumped into mr N I C K J O V E R 4 (at) G M A I L C 0 M , I was able to get my account unlocked with their aid and assistance I wouldn’t have done it without them and now I can comfortably trade again and make profit.