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MetaFinanceTrade (MetaFinanceTrade.com) is another ridiculous trading platform with insane claims and promises. They are claiming to make trading simple with its intuitive trading tools. These are false claims as this detailed review exposes the downside of signing up with the platform. It is another rotten online trading platform targeting unsuspecting online investors. Complaints have been sent to our help desk, and the findings will shock everyone. Get to know more in this eye-opening and transparent review.
The broker claims to be a multinational fintech company whose intent is to make trading simple. They claim to be based in Luxembourg and the United States a false claim. Our investigation has revealed MetaFinanceTrade is another offshore brokerage firm. These are offshore brokers who want to take advantage of unsuspecting investors. From what we can gather, the platform is targeting unsuspecting American and European investors. The review is meant to enlighten the reader on the risks of associating with the platform.
MetaFinanceTrade is an excellent example of how online scam brokers work. They use empty claims and promises to lure unsuspecting online investors. Fraudulent brokers must be stopped with any means necessary. And this is one of the main reasons why reading reviews is essential. Thanks to informative reports, one can know more about popular online products and services. With a well-documented review team, investors get to know the right experts to use for online trading. The genuine broker will at all times ensure your trading is safe. What makes Meta Finance Trade a terrible trading platform?
There are five trading instruments mentioned on their homepage. Information on these trading instruments is not fully comprehensible. Lack of adequate information on trading assets is a problem for most investors. The available trading instruments include Commodities, Cryptos, Forex, Indices, and Shares. Commodities listed on the homepage include gold, natural gas, oil, and silver. Cryptos available on the platform include Bitcoin, Bitcoin Cash, Etherium, Litecoin, and Ripple.
The platform claims to offer more than 80 exotic, significant, and minor currency pairs. Meta Finance Trade is claiming to provide competitive spreads and no commissions on Forex assets. The platform is boasting of having over 15 indices from all over the world. Popular instruments mentioned by the broker include Germany 30, Nasdaq 100, and S&P 500. Shares listed are from big companies such as Apple and Uber. The broker claims to offer more than 300 popular stocks from the EU and US regions.
MetaFinanceTrade is a platform that is barely one year old in the industry. Claims of the broker being reputable are quickly thrown out the window by domain registers. A quick search using whois.net revealed the damning truth when the website was created. According to records, the domain name metafinancetrade.com was established on 22nd August 2019. These are online records, which indicate the platform has no prior experience. Stay away from such brokers who profess to be reputable, and the records prove otherwise.
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Disadvantages of MetaFinanceTrade
The platform continues to remain quiet on the types of accounts available on the platform. To find out the account details available, we reached out to customer support for more information. The website has no prior information regarding the available account types. According to the help desk, the platform has four plans and a trading plan. These plans have a guaranteed ROI of 127 percent to 400 percent. Trading plans come with a daily 35 percent ROI, which is also guaranteed.
The are offering the first account plan with a minimum deposit of $50. The program comes with a guaranteed ROI of 127 percent. Members are guaranteed to make this profit margin within 24 hours. Other ideas come with 48 hours and 160 percent ROI with a minimum deposit of $200. The third account plan has a guaranteed ROI of 250 percent within 4 hours and a deposit of $1,000. Meta Finance Trade is offering the fourth account with a guaranteed ROI of 400 percent with a deposit of $5,000. These deposits are a roost to bring in newbies to sign up due to the high ROI expected. It is a trap.
Depositing funds with the platform is secure and takes less time than imagined. Available depository channels listed include MasterCard, Neteller, Skrill, Soft, and Visa. The broker has made sure the deposit process is fast. It enables them to get the victim’s funds with ease. Stay away from this platform as the biggest challenge facing investors is withdrawal. None of the members who reached out have been able to withdraw funds with the broker. And this makes Meta Finance Trade another lousy online trading platform.
What the broker has made up with is having a live support team. The customer support chat is live, which makes it easier to sell their platform as a legit website. One of the problems we noticed with the customer care representative is the lack of transparency. When asked who the name was, the reply was “Desk 35”. And this is one of the red flags we must expose with the platform. Support agents who don’t give their right identity help mask the intentions of the platform. Stay away from such illicit trading platforms.
Sign up Process
Another issue we have with the platform is the signup process. With the broker not having a valid license, sharing personal information is a problem. The signup process requires members to upload personal documents. Did you know that scam brokers use these documents to create a new identity? And this is why no one should sign up with this ridiculous trading platform. Avoid giving your identity documents to unknown third parties. It is what has led to bank accounts being swept clean by investors.
MetaFinanceTrade is using proprietary trading software. In other words, they are using a custom-built trading platform. There are some downsides to dealing with such a platform. Scam brokers are now using customized trading platforms to fool investors. These platforms lack proper tools such as advanced charting and trading assistant. The platform is also unstable, making it slow when executing trades. It is best to stay away from the platform.
License and Registration of MetaFinanceTrade
The broker claims to be regulated by CSSF. And this is where matters get dicey as the regulator plans to issue a warning in regards to the broker. After reaching out to the regulator, they indicated a warning was on the way. Regulators in the EU region plan to blacklist the broker entirely. And this is proof we are dealing with a rogue online trading platform. These brokers are up to no good, especially without regulation. Platforms that fail to have a valid license put funds at risk.
There are no details of the platform’s license number. And this is disheartening as it gives the impression the broker does not secure funds. An unregulated broker is a piece of bad news to any investor. Meta Finance Trade is NOT LICENSED to offer any trading services. And this is what makes the platform a risky venture. Members who deposit funds should know the broker does not insure funds. The industry demands brokers to ensure all deposits made by investors.
Safety of funds with MetaFinanceTrade
Funds are far from being secure in the hands of unregulated offshore brokers. The broker’s official address remains unknown, which means they are anonymous. Segregation of funds is not taking place as dictated by the trading regulations and rules. Members should not expect any compensation from the platform in the event of closure. The broker does not participate in any compensatory scheme leaving members at risk.
Scam or Legit MetaFinanceTrade
After going through the website and checking all the facts, the truth is out. MetaFinanceTrade is a scam that must be exposed by all means. They have been cheating users with claims of offering legit trading services. After failing to release funds, members are now crying foul over withdrawal issues. Avoid such trading platforms and use industry-approved products. The only way to trade safely with digital assets is by using excellent trading tools. What are you waiting for?
To protect our readers, we must expose the fraudulent nature of the platform. Stay away from Meta Finance Trade.
We hope newbie investors will sign up with approved and recommended brokers trusted by experts. They are the key to trading success.