Uncertain about mttrade.io platform? What makes this broker suspicious? Let’s read MT Trade reviews to know exactly that.
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.
About MT Trade
MT Trade FX otherwise known as mttrade.io is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about MT Trade Regulation
First of, MT Trade has not revealed any contact information about itself or its alleged registration address. The absence of any credible data about this broker’s identity is quite worrisome to be honest, as we don’t actually know who stays behind it.
The situation always gets worsen for unlicensed brokers when some institutions issue a warning against them. Another financial authority, the German financial regulator has blacklisted the broker for public to see.
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are 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.
MT Trade Minimum Deposit for Traders
MT Trade offers an account for every type of trader like Basic, Advanced, Premium and Gold. The broker does not reveal leverage capped 1:500.
The broker MT Trade reveals its minimum deposit $250 based on the account type. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Traders can make payment deposit via bank card payments only.
Another important thing, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
MT Trade Trading Software
MT Trade offers access to a fairly basic web-based trading platform. The broker’s web trader comes with some basic tools and custom indicators but nothing more advanced.
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.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
MT Trade Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that mttrade.io 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 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
MT Trade FX located at mttrade.io appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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