MetFX Review: An Offshore Unregulated Forex Broker

MetFX is a forex broker that claims to value trust in its operations. The company wants you to believe that there is no better opinion for you out there. Additionally, the company believes it has some of the best trading conditions in the market.

The only problem is that every company says this about their services. Unfortunately, most of such companies end up being scams, only looking to steal investors’ money. MetFX is yet another one of these companies.

The perks that this company promises you to mean nothing to the team. They are only using the perks as a marketing tool. The goal is to attract eager investors looking to make money from the forex market.

Avoid this company like the plague. We always insist that you should do enough research before investing. That is the best way to avoid falling victim to companies like MetFX. Such companies have nothing good to offer you. They will steal your funds and disappear from the market.

If you are looking to invest in the forex market, there are better companies with better services. We recommend sticking with the trustworthy and regulated forex brokers in the market. Such companies will provide you a safe trading environment without compromise.

Metfx.com Review

Metfx.com is one of the shadiest websites in the market. The company is offering clients trading education without disclosing the identities of the educators. You never want to take trading education from mysterious people on the Internet. Legitimate companies will always reveal the identities of the educators. Additionally, they will present their trading results.

Additionally, the company is trying to lure in customers by providing one of the best trading platforms in the market. MetFX is providing clients with an MT5 trading platform. This is one of the most popular trading platforms in the market.

Further, the company promises clients a wide range of assets to trade. Clients can trade fore, indices, commodities, shares, metals, and cryptocurrencies. This means that they can spread the risk of investment across various markets.

While these are good things, the company fails to provide a safe trading environment. There is no point in investing in a company that will not help you protect your funds. You are better off sticking with the market’s top legitimate forex brokers.

For customer support, clients can call the company at +442032895271. Clients can also email them at support@metfx.com. The company guarantees clients that they will respond to each of the queries.

MetFX Account Types and Trading Conditions

There are three main account types to choose from on MetFX. These include the ECN, Standard, and Islamic accounts. All these accounts have different features depending on the investment that a client makes.

The ECN account accepts a minimum deposit of $200. This account gives clients maximum leverage of up to 1:100. Additionally, clients get spreads from as low as 0.0 pips. Further, this account involves a 0.30% commission on cryptos and a $4 commission per round lot.

The Standard account accepts a minimum deposit of $50. This account gives clients maximum leverage of 1:100 and spreads starting from 0.8 pips. Additionally, this account involves a $6 commission per round lot and a 0.30% crypto commission.

The final account is the Islamic account. This accepts a minimum deposit of $100. It has a maximum leverage of 1:100 and spreads from 1.6 pips. Additionally, it involves an $8 commission per round lot and a 0.40% crypto commission.

Interestingly, the accounts with the highest spreads also have the highest commissions. This increases the charges that a client has to pay to enjoy the company’s services.

MetFX Deposit and Withdrawal

MetFX supports some of the safest payment options in the world. The company supports debit and credit cards and bank wire transfers. However, there is one payment option that we have an issue with. The company also supports cryptocurrency deposits. This is a payment option that most scammers support. 

This is because cryptocurrency payments are permanent. Therefore, it is hard to recover your funds once you send them out. Additionally, cryptocurrency transactions are between abstract addresses. This makes it hard to trace your funds once you send them out.

Consequently, it is easy to steal money from clients using cryptocurrency payments. You should not use this payment option when dealing with shady companies. You may end up losing your funds to criminals.

Founders and Physical Address

On a good note, this company does not hide the identities of the team members. The CEO of the company is a man by the name of Fin Jakobsen. Beside him are a lot of other team members serving other positions.

It is refreshing to see a company present the identities of the team members. Only illegitimate companies conceal the identities of the team members. There are a lot of risks involved in investing in companies operated by unidentifiable individuals.

However, this company is still not trustworthy. The company operates from one of the shadiest locations when it comes to forex brokers. This company’s headquarters is in Suite 305, Griffith Corporate Centre, Beachmont, 1510, Kingstown, St. Vincent, and the Grenadines.

St. Vincent and the Grenadines have very loose laws. This makes it easy for people to register and run companies in this country. They do not even have to step foot in the country. You may go to this location and not find the company.

Regulation and Fund Safety

Unfortunately, this company does not have a license to operate. The people behind this company are running this company without regulations. This makes MetFX an illegal entity. Even worse, the founders know this, but they do not care.

They will try to convince you that MetFX is a regulated company, but you should not trust this. St. Vincent and the Grenadines do not have a reliable forex broker to keep companies in check. Any company operating from this location does not have regulations. No legitimate company would want to associate itself with such a shady country.

Consequently, this company cannot assure you of your funds’ safety. No unregulated company can assure you that. Regulatory bodies ensure that companies are using segregated accounts in Tier-1 banks. Without regulations, a company does not have to implement this requirement.

Furthermore, there is no evidence of systems’ protection. The company does not tell us the software or hardware it uses to keep out third-parties. 

This means that hackers can easily access and steal your funds and sensitive data. You cannot trust this company to protect your funds.

Final Verdict

Evidently, this is an illegal operation. The founders are offering financial services without regulations. Such a company is not ideal to invest in. Additionally, unregulated companies cannot assure you of your funds’ safety. This company does not even have systems’ protection in place.

There are just too many ways to lose your money with this company. Furthermore, this company is operating from a very shady location. Only illegitimate companies operate from this location.

You are better off investing in companies that have proper regulations. The market’s top forex brokers are trustworthy and legal. You will never regret investing with such companies. They will give you the best environment to safeguard and grow your accounts.

Tags: Metfx.com Review, Metfx.com Scam Review