Mft Trade Review: Find out if Mfttrade.com is scam or legit
Mft Trade is a brokerage that is promising superb returns to its investors. This broker purports to have the right tools to enable investors, either novice or seasoned to make nice profits using the right tools that they present.
With multi assets, this broker purportedly offers multi-assets to trade in thus almost sure of making profits. This is a scammer that is posing as a legit broker to rip you off. A part from their attractive website interface, please take your time to do more research on this name before investing even a penny as you could potentially lose it.
In this review, we will highlight the red flags in this broker that you need to consider before deciding whether to or not to invest with them.
Who is Mft Trade? Are they regulated?
Mft Trade is not regulated by any regulator the world over. Unlicensed brokers are very risky to engage with because they are just after defrauding investors.
If a firm is regulated more often than not they conspicuously display the license on the website. For this broker, there is no slightest evidence that this broker is licensed. This is a major red fag that you should not overlook by all standards. Unlicensed brokers are just a time bomb that will defraud you.
Moreover, when a broker is not regulated they are bound to abuse trading rules in the industry.
Audited financials are also a good indicator of a trustworthy trading company. The financials help in understanding the liquidity and past performance at a glance. As always with the past information, we are able to predict the future. For Mft Trade, the financials are not available, this is another red flag.
Account Types for this broker
Mft Trade has four investment packages for investors to choose from. The minimum investment amout is $250 while the maximum is $100000.
Across all the account types, they allegedly offer over 200 tradable assets. Sounds good right? This is just a bait to make sure that they have as many victims as possible.
The leverage ranges between 1:100 to 1:400, this is another red flag. As always, this is a double edged sword that most of the time works against the investor. There are many regulations around leverage, but for this broker it does not apply being an unregulated investment company.
How does this scam work?
Scammers present many fraudulent ads on the Internet and social media. Their aim is to lure as many people as possible to steal from.
Once you click and provide them with your e-mail and contact number they will ring you immediately and would promise you anything to make you deposit money with them as quickly as possible. Most of the scammers are experienced manipulators and before you know it they’d ask for your bank card numbers to assist you with the deposit. You shouldn’t ever provide this information unless you want to get in trouble. There is also a chance to become a victim of Identity Theft, experiencing many more problems consequently.
Gradually they would ask for more money from you no matter the results. If you lost on the market, they’d persuade you to put more money and recover the losses. If you traded well, they’d convince you to put more money and increase the profits.
The troubles start when you ask for a withdrawal. The scammers would do anything to discourage you and even ask you to pay them if you want to withdraw. The scammers’ mantra is “give me your money”, they’d insist every day you should deposit again and again, for no obvious reason. Legit companies do not bother you over the phone to deposit with them, so if someone pushes you to invest, it’s most probably a scam.
Are funds safe with Mft Trade?
An unregulated broker is not safe to invest in. Ask yourself why it would be so difficult for a broker to be simply regulated. Unregulated players are a risky venture to dump your money in.
In addition to the above, this broker is a clone. It is disguising as a legitimate company that it is not to swindle money from unsuspecting investors.
Security of funds is a huge problem with unregulated Investment Companies. They can easily do silly things because they are sure they are not answerable to any watchdog which may go after them.
Avoid this broker lest you lose your hard earned.
What to do if scammed by Mft Trade
If you have already been scammed by Mft Trade, all is not lost. Get all your communication with them in order, all payments made by whichever payment method that they preferred. With all this information you can be assisted by our partner mychargeback, they will offer free consultation and pick up your case to ensure 100% recovery of your money.
Mft Trade is a scam broker. Do not be cheated by their great offers. Actually the profits that they promise you are too good to be true. Any broker that is unregulated by a watchdog in the jurisdiction they are operating in is a major red flag.
This is a typical get rich scheme, which you should avoid by all means.
Thank you for reading this article.