Think of the scam broker apparatus as a hydra from Greek mythology. You slice one head off, two more grow to replace it. These fraudsters appear in a similar fashion. Here, we dealing with one that had its website “sliced off,” in other words, taken down. The next section of the MTInvesting Review will deal with the (il)legal status of our subject.
On top of that, we seriously recommend you not to invest in the fake brokersFewaTrade,OpoFinance, andTargoSwiss.Do not trade with these unlicensed brokers if you want to save your money!
|Unlicensed Scam Brokerage
|Blacklisted as a Scam by:
|Yes – Bitcoin, Ethereum, Tether
|Types of Assets:
|Free Demo Account:
|Accepts US clients:
Why Choosing MTInvesting Broker Is Not The Right Choice?
First and foremost, we have to announce that MTInvesting’s website was unavailable for this analysis, thus we had to gather information from other sources. Without further ado, let’s dig into the investment scam.
The website was originally exclusively in Italian, which means that the speakers of that language were the designated targets. Next, we’ve found a Canadian address that is unmistakably fake, with no phone number at all. Therefore, there is no doubt in our minds that we are dealing with a crooked financial swindler that is unlicensed.
Why Is Trading On a Licensed Broker’s Platform Preferable?
For safe trading, it’s best you trust a reliable and legitimate provider that is registered with Tier 1 regulators such as the FCA, BaFin or CySEC. After checking the websites of these regulatory institutions, we’ve found nothing on our shady broker. That’s a red flag.
How Reliable Is MTInvesting Broker?
MTInvesting is an unlicensed trading scam. The firm is anonymous and has been blacklisted by the Italian regulator CONSOB.
Warning From the Italian Financial Regulator CONSOB
Only thing we did find was a warning issued by the Italian regulator CONSOB. Being blacklisted by this authority has sealed the fate of MTInvesting and destroyed its scheme. Here’s the warning:
What Web-based Trading Platform Does MTInvesting Offer Access To?
From what we managed to find out, the unique web-based trading platform that MTInvesting used to offer looked at least somewhat decent but failed to meet the prerequisite standards for a great trading experience. Nevertheless, it is unimportant since nobody can access it at the moment.
If you desire true and reliable software, then we’ve got two for you – Meta Trader 4 and 5. These are the industry’s leading platforms when it comes to the quality and tools they offer so do not bypass them.
What Do We Know About MTInvesting Account Types?
We were unable to find out anything about the account types that MTInvesting used to offer. So, not much to tell here. However, what we can say is that scammers like this one most frequently rely on the initial deposit that clients make.
They simply take that money, put it in their pockets and rinse and repeat the process with a new client until they either vanish or get taken down, as is the case with this fraud.
Also remember the names of theWinnex Consulting,BUX ForexandGamma Capitalstrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Can a Trader Use a Demo Account?
Pertaining to everything said in the previous section, we got one more point to make. It also relates to our financial scammer but it’s important to remember in general. Make sure that the broker you’re signing with offers a free demo account that will give you insight into its offer, trading assets and platform. MTInvesting was smart to include one.
What Is Known About MTInvesting’s Trading Conditions?
The minimum deposit is €250, not unusual but also too much considering the shady background of MTInvesting. Next, the leverage is set at 1:200, which could be very ungrateful to beginner traders since volatile markets bear great losses with such high leverage.
When it comes to spreads, for EUR/USD major pair we had 3.1 pips and that is really not fair. A spread wide as a football pitch will certainly not help you make profits so watch out for that.
Deposits & Withdrawals
Based on the available information, MTInvesting had only wire transfers as the acceptable payment method. This method is unsophisticated compared, for example, to crypto payments, which are much harder to trace and provide a higher degree of anonymity.
One more thing to mention regarding payments is that the fraudulent broker requires the client to contact it prior to paying. This is another one of the shady tricks scammers use to ensure they got the right person to defraud. Also, there was no information about withdrawals or fees.
Why Do Scammers Prefer Cryptocurrencies?
Cryptocurrencies are convenient for scammers because they have the possibility to remain anonymous. Plus, it’s not easy to trace these transactions. Another probable scenario for payments with MTInvesting is this – the broker makes you contact your account manager who then redirects you to crypto payments instead of wire transfers.
Should this happen to you, know immediately that you’re dealing with an outright scammer that’s dishonest, non-transparent and amoral.
Scammed by MTInvesting Broker? – Let Us Hear Your Story
We understand your frustration if you’ve fallen victim to this malicious scheme. But it could have happened to anybody, there’s no reason to be ashamed. The silver lining here is that there is a small chance to get your money back. How? By way of recall of course!
But What Is A Recall?
Since MTInvesting stated it accepts only wire transfers, you should know that it can be reversed. This is known as a recall. The only problem is that the transaction cannot be completed for the recall to work. Hence, you must act with haste and hurry if there’s still time!