If considering embarking on online trading or are already an experienced trader, a good rule of thumb is thoroughly check any broker before engaging with it. In order to help you, we evaluate and debunk scam brokers, enabling you to distinguish fake websites from real companies.
Regardless of how the Motion Markets website might seem legitimate for beginners and less experienced; for professionals, it is easy to recognize that the Motion Markets broker is just another trading scam.
Many things sound terrible at Motion Markets; starting with the fact that it is a completely anonymous entity, followed by a lack of licenses and regulations, and finishing with the evidence of being an exposed scam by the Italian CONSOB.
With our Motion Markets review, we want to enable everyone to realize how trading with this shady brokerage firm is a bad idea. So, please continue reading.
What is more, we strongly advise you not to invest in GP Finance, DotBig and TopInvestTrader fraudulent brokers.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||CONSOB|
|Supported Platforms:||Web Trader|
|Minimum Deposit:||250 USD|
|Cryptocurrencies:||Yes, Bitcoin, Litecoin, Dogecoin|
|Types of Assets:||Forex, indices, shares, digital currencies, commodities|
|Free Demo Account:||No|
|Accepts US clients:||No|
Is Motion Markets a Regulated Forex Broker?
When it comes to funds’ security, it is ensured by legislation. In other words, only authorized brokers adhering to a strict code of conduct are safe for trading. In respect of Motion Markets, it is obviously not licensed, implying that it can be freely involved in fraudulent trading activities.
Adding to this is the fact that this phony broker is not transparent about its headquarters, which means its jurisdiction is unknown. Besides, it is even possible that Motion Markets is not a registered company at all.
Why Is Trading On a Licensed Broker’s Platform Preferable?
As we have already pointed out the relation between funds’ protection and trading credentials, in addition to this, there are many more advantages of investing with a regulated broker–particularly with those licensed under premium financial authorities such as ASIC, BaFin, and FCA.
It comes with no surprise since these awarding bodies are reliable and strict – every broker under their supervision is trustworthy and sustainable. For instance, one of licensing prerequisites is fulfilling capital requirements (maintaining several million dollars in working capital). Also, legit brokerage firms are constantly monitored, and any violation of rules is penalized.
Plus, traders are covered against brokers’ bankruptcy by indemnification programs offered by these supervisory market agencies. For instance, ASIC reimburses up to 100,000 AUD.
Needless to say that Motion Markets can’t offer any of this since it is nowhere near enough to hold FCA, BaFin, ASIC, or any other trading certification due to being blacklisted by CONSOB (the Italian financial market regulator).
So Is Motion Markets a Decent Broker or a Scam?
Motion Markets is an obvious trading scam, which the Italian financial authority has warned against. Any dealings with this phony broker will end up badly for you in financial terms.
What Platform Does Motion Markets Provide Access To?
Speaking of the Motion Markets web trader, this fraudulent broker assures that it comes with many advanced features such as an easy and adjustable interface, real-time market reports, and dynamic and adaptable charts. This might impress newbies, however, these facets are basic, barely enough for trading.
For profitable and safe trading, we recommend MetaTrader 4, MetaTrader 5, cTrader, and Sirix available only with credible brokers. These powerful trading platforms provide cutting-edge tools that minimize risks and maximize profits, such as stop loss, EAs, and social trading. For example, social trading enables you to copy and follow the most successful traders and earn. Not only that, they are accessible on different devices, enabling you to trade anywhere, anytime.
AnyDesk and TeamViewer
So typical of a broker scam is to offer manipulative software like AnyDesk and TeamViewer. These two programs have nothing to do with trading – they are remote control software and not trading platforms. So, the only logical explanation for employing them is to gain access to your PC.
In plain English, if you download AnyDesk or TeamViewer, con artists behind Motion Markets will acquire the entrance to your personal information and steal it (a so-called social engineering technique).
Motion Markets Accounts Overview
Pretending to be an actual broker, Motion Markets provides several types of accounts. However, they come with high deposits and manipulated and unfavorable conditions. Take a look at its offerings.
- Basic: 250 EUR minimum deposit, limited trading assets
- Standard: 10,000 EUR minimum deposit, standard trading assets
- Professional: 50,000 EUR minimum deposit, advanced trading assets
- Elite: 250,000 EUR minimum deposit, high-level trading assets
- VIP: 1,000,000 EUR minimum deposit
This blatant hoax becomes even more outrageous when knowing that full access to all tradable products gets only the Elite account holders. Put differently, one must invest 250K EUR to be able to trade with instruments that can get for 10 EUR with legitimate brokers.
Does The Broker Offer A Demo Version?
As comes with financial swindlers, they don’t offer a demo account option. The same applies to Motion Markets. A demo or practice account is a free-of-charge version that allows traders to experience real trading, platforms, and conditions, and develop strategies. Hence, it is not interesting to fraudsters since there is no money in it.
Unlike them, legit brokers offer demo accounts along with constant support and lots of educational materials to make you a better trader.
Motion Markets – Countries Of Service
Apropos of business area, Motion Markets is focused on scamming traders from:
It is not authorized to provide services in any of these countries or any other country. Its unethical business practice certainly doesn’t align with requirements in many jurisdictions. After all, operating in Canada, the UK, and the EU (as well as in any other market) is illegal without a license. We urge traders not to invest with this fake broker since they can only end up losing money.
Also, remember the names of the XTB Global, MilleniumOne, and HubbleBIT trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
What Is Known About Motion Markets’ Trading Conditions?
Motion Markets’ trading conditions are as false and poor as this company. For example, Motion Markets offer 10% to 20% bonuses despite the fact they are prohibited by many financial authorities due to being misused. The bonus policy mandates that a trader must meet some unreasonable conditions to get them, and also they can’t be withdrawn.
Also, this bogus broker allegedly lets you have a 100% margin call level, meaning you will be notified if your margin falls below this level. Additionally, you can reportedly buy low/sell high at Motion Markets with its transparent and excellent swap rates.
Too High Leverage and Spreads
Furthermore, there is a high leverage ratio, from 1:100 to a whopping 1:1000, which is more than ten times higher than allowed; in the EU/UK is 1:30 and in the US is 1:50. Leverage is a powerful tool for gains, but must be used very carefully since it is a two-blade sword.
Scam brokers offer unreasonable high leverage just to attract you; they don’t care about putting you at the risk. In addition, ultra-low spreads, from 0.13 to 0.0 pips, are also employed to entice you into trading.
Motion Markets Minimum Deposit, Withdrawal Terms, and Fees
Concerning payment methods available at Motion markets, there are credit/debit cards, wire transfers, and bitcoins. Deposit processing time is from 3-5 days to 24 hours for credit cards and instant for wire transfers/crypto. Funding fees are zero for crypto wallets, while for credit cards/banks, it depends on them.
Regarding the minimum deposit, it is 250 USD, which is higher than the industry normal. For 10 USD, you can open an account with a valid company.
The way of withdrawals is supposed to be the same as deposits; however, there is not much information on it. Fees and processing time for payoffs are not revealed. Anyway, since it is a pure scam, there are no money withdrawal guarantees.
Scammed by Motion Markets Broker? – Let Us Hear Your Story
If got tricked by Motion Markets, it is essential to act immediately. With an appropriate and timely response, it is possible to get your money back. On your side, you can leave negative Motion Markets reviews to warn others. Likewise, don’t be ashamed to report swindlers to the relevant authorities. Eventually, anyone can be conned, luckily, a chargeback is your solution.
But What Is A Chargeback?
Simply, a chargeback is a chance to retrieve your misappropriated funds. For example, VISA and Mastercard offer a cashback option valid for 540 days after losing money. Bank transactions are also safe but can be canceled only until you approve a transaction. As for crypto payments, they are anonymous and difficult to reverse.
Still, it is feasible to get a refund even concerning a crypto wallet, but it requires special skills. So, for this, you must contact cyber security experts. In that case, our chargeback specialists are at your service. Get in touch today!