Heard of Mfttrade.com trading platform? Really want to find more details before choosing the broker? You can carefully read the MFT Trade reviews to know about this forex broker whether to use or not.
This content 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 MFT Trade FX?
MFT Trade FX otherwise known as Mfttrade.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
The broker is completely anonymous. It has not revealed any legal information about itself or its alleged registration address.
MFT Trade offers different account type such as —
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
MFT Trade Minimum Deposit
The broker MFT Trade deposit is indicated $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.
As for the funding methods, the broker presents logos of different deposit options including Cryptocurrencies.
Just so you know, 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!
What We Discovered about Mfttrade.com Broker
First of, Mfttrade.com has not revealed any legal information about itself or its alleged registration address.
MFT Trade doesn’t provide any ownership information and it’s completely unregulated. Not even by the country’s regulatory body. Terms and conditions are a mystery, therefore it’s a big NO for this company.
Regrettably, the forex entity does not offer a demo account. This means, you cannot see how the platform works unless you put in some money.
More so, 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.
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
MFT Trade Platform And Withdrawal process
MFT Trade 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.
As for MFT Trade trading platform, there is no information about the software itself. There’s nothing good we can say about this platform to be honest. They are using data from the real market. Sometimes that data is not in real-time.
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.
MFT Trade leverage can get up to 1:400. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
MFT Trade FX 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
Final Thoughts:
MFT Trade located at Mfttrade.com appears like a safe and trusted forex broker, howbeit, you should not take the words they say. It is a non-regulated cryptocurrency broker offering financial services to clients. From all indications, we advise traders to steer clear from the unlicensed broker 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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