MetaFXTrade reviews – the broker is not credible!
The metafxtrade.com company describes itself as a broker capable of taking a leading position in the financial field. But neither the intermediary site nor its functionality can compare with world-renowned sites that confirm their trust not in word, but in deed. One gets the impression that we are brazenly circled around the finger. Who is the real MetaFXTrade broker – a liar, or a professional – we investigate in this review.
Company site overview
It should be said right away that the official website metafxtrade.com does not support the Russian version. Customers can choose from English, Chinese or Hong Kong dialect of the latter.
The design of the site is typical, unremarkable, one might even say boring.
The broker says little about himself, but immodestly: the best service, the most favorable conditions and well-established communication with clients. As it turned out, the advantages of MetaFXTrade were given a separate page. This is how they sound:
- fast STP execution;
- lack of a dealing center;
- First-class infrastructure: standards-compliant data centers;
- efficient deposits and withdrawal methods;
- Negative balance protection
Well, it’s effective. How things really are – we will understand further.
Trading Environment
The MetaFXTrade website claims that this broker offers access to the widely used MetaTrader4 platform. As it turns out, this is far from the truth. Here is the dashboard that you can get after registering an account with MetaFXTrade:
An ordinary gif that does not reflect the real state of affairs on the market. In addition, this “development” does not allow trading in any way.
Types of accounts and assets
The intermediary offers 5 types of accounts to choose from:
- Basic – minimum deposit from $250, fixed spreads from 1.6 pips, no commissions;
- Standard – minimum deposit from $500, floating spreads from 1.6 pips, no commissions;
- Gold – minimum deposit from $2,500, floating spreads from 0.6 pips, commission per transaction $6;
- Platinum – minimum deposit from $5,000, floating spreads from 0.6 pips, commission per trade $3;
- VIP – minimum deposit from $20,000, floating spreads from 0.5 pips, no commissions.
Leverage is equally huge for all tariff plans – 1:500.
The specific activity of the office metafxtrade.com is to conclude transactions with metals and currency pairs. It is commendable that the broker introduces investors to assets right away. The company’s website also says that in the future it is planned to expand the functionality to include indices with contracts for difference.
Interesting clarifications are written at the bottom of the page: exotic currency pairs are available only to VIP account holders, which is not very fair to other depositors.
Documentation
MetaFXTrade claims to be registered in the British Virgin Islands and operated under the supervision of the Vanuatu Financial Services Commission (VFSC). There is no confirmation of this on the website of the financial regulator, so we can safely talk about the illegality of the work of a false intermediary.
Other information about the company
Many important things for metafxtrade.com clients remain unavailable for study:
- supported payment systems;
- The year the office was founded. To do this, I had to act on my own and turn to the services of one well-known domain verification service September 5, 2020 – this is the day the official website metafxtrade.com starts functioning;
- reviews about the project. They simply don’t exist. Perhaps the company is actively cleaning up the network from such comments about itself.
What can you conclude?
As originally intended, MetaFXTrade has nothing to do with trading and legitimate asset trading. The purpose of its creation is to deceive depositors and personal enrichment. Recommendation – stay away from these scammers!
