Magentis Trading Review: Magentistrading.com a Terrible Scam

Magentis Trading is a platform that allegedly uses the latest technology to yield high returns. The entity states it has several existing clients. It is generous enough to accept investors from all over the world. However, the problem is that the entity lacks a license. 

The first thing that you need to ensure is that a broker is operating legally. That will save you from making the biggest mistake of all time. Unregulated ventures turn out to be fraudulent, at least most of them. There is nobody that oversees their trading activities. Therefore, they have the liberty of treating their clients as they please.

Magentis Trading nonetheless states they work tirelessly to improve their platform. The reality is the scheme does not care about the experience of their customers. Their trading conditions are also unrealistic. Instead of using the space to win investors’ trust, the platform is bragging about basic features.

Invest with the best forex trading entities in the industry. These are companies that have been in the market for years. They are companies that have built their reputation. They have thousands of investors that are pleased to have worked with them. 

Magentistrading.com Review

Magentis Trading provides traders with a fast trading interface. Other features that the firm has include low spreads, high leverage, and no trading commission. Their sole objective is to help clients attain their goals. The venture claims it has been in the industry for years. 

Unfortunately, the company is misleading investors. The broker has nothing to show. This is not the first Ponzi scheme that we are reviewing. The traits are similar to ventures that have exited the industry. The scheme allegedly has a strong team that manages its activities. 

Magentis Trading fails to credit its expert team. Hence, we cannot validate that the broker has a capable team in place. Scammers only set up an appealing website and fill it with fluff content. In reality, there is no trading taking place.

The entity claims it has over 1000 trading instruments. They also provide statistics that display the number of clients that the entity has. The company only wants individuals to see they are reputable. It is impossible to have over 7K users, yet none of them is willing to share their experience. 

How Does Magentis Trading Operate?

It is still a mystery to us how this scheme is operating. They claim that investors are protected against negative balances. The funding methods are also numerous. Unfortunately, considering that this is a dirty entity, we do not recommend that you waste your time with them. 

They are trading forex, commodities, and CFDs. Another worrying factor is that the company is claiming to have ten years of experience. Their domain name is not this old. The sales rep of the entity will be on your toe, convincing you to deposit more money. The moment you agree to heed their demand, the venture is going to cut you off.

Their advertised, excellent results are only featured to make you deposit money. The high profits will be available in the dashboard, but you cannot withdraw them. Invest wisely and avoid falling for the wrong company. 

Trading Conditions of Magentis Trading

The venture offers a web trader interface. This is no match for MT4 or MT5. These are two software that is prominently used in the market. They have customizable features and chats. You can also trade automatically using EAs.

The spread is at 0.1 pips doubt that the entity can be extremely generous. There must be some commission that the company does not want to reveal. Once you register, you need to deposit funds, then upload documents to verify your account. However, we are against sharing such kind of data with anonymous offshore schemes. 

Moreover, there are no client testimonials that prove the scheme is paying. Legit companies will have people that are willing to endorse the venture. Traders are going to leave their remarks detailing their experience. From what we have gathered, several investors have lost funds from the platform. Learn from their mistakes and refrain from investing with the fraudsters.

Customer Support

The platform claims it has offices in Madrid. There is no evidence, and neither can the information be validated. Con artists tend to use random addresses to trap more people. It makes them appear as transparent schemes while, in reality, they are only faking. 

Nonetheless, the scheme brags, and it replies fast. It also has world-class support that responds 24 hours in 5 days. The entity also states its main focus is to maintain high customer satisfaction. 

 Magentis Trading has a phone number and an email address. This is not a guarantee that the platform shall respond to traders’ queries. If you become a nuisance, the company can blacklist you. Additionally, your emails are not going to receive a response either. 

Legit investment companies hire responsive and qualified customer support. If you have any problem, be sure it shall be handled fast. These are platforms that have been in the market for years. Therefore, they would not risk treating their clients unethically.

Regulation Status of Magentis Trading

Magentis Trading leaves the responsibility of regulatory to investors. The venture claims that traders should ensure that their government permits them to trade with a company. This is a standard clause that scammers use.  The experience is you licensed. Therefore, it should not be collecting funds from the public. 

The venture is ignorant about the law; they do not disclose anything about registration either. There is also no segregation of funds in this venture. Therefore, there is a high risk of your money going to the wallets of the con artist.

Magentis Trading is not working with a regulator. There is no proof that the venture is trading. This is because the entity fails to report its trading activities.  Various regulatory bodies require investment firms to deposit a considerable amount of capital. This proves that they can withstand the volatility. 

The Domain Insight

Magentis Trading tries to convince traders it has a trading history. The firm allegedly has been in the industry since 2019. They do not mention existence using a separate name. Therefore, we always find it illogical when trading ventures fake their founded dates. 

Magentistrading.com was established in September 2020. The entity renewed its domain in August 2021. They plan to exit the market in 2022. Weirdly, the entity has been in the market for over a year, yet there is no proof of the trading.

Final Verdict

Magentis Trading is a company that lacks transparency. The individuals that are behind the entity are unknown. We do not know where the company originates from as they are false information. The platform is also ignorant about the law. They are not licensed or registered. 

Invest only with some of the best forex trading companies in the market. These are platforms that have been in the market for years. Their trading conditions are sound, and you can read their client feedback on their website. 

The people that are behind the scheme are unknown. Several traders lose money for trusting the wrong scheme. Performing thorough research about a platform will save you much trouble. 

Tags: Magentis Trading Review, Magentistrading.com Review