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MainTrade Review – Don’t This Broker Scam Your Money
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MainTrade is a scammy broker that claims to be regulated. You should know that fact-checking proves otherwise. Our thorough MainTrade review exposes the red flags of this anonymous website. Stay informed and protect your money.
Now it’s time to read this comprehensive MainTrade review for more interesting facts!
|Leverage||1:200 and 1:500|
|Headquarters||2nd Jubilee Place, London|
Is MainTrade a Scam or Legit Broker?
A quick investigation reveals that the Financial Services Commission in the UK is non-existent. All in all, the Financial Conduct Authority (FCA) is the recognized regulator for Forex and CFD trading firms in the UK. So guess what? MainTrade is nowhere to be found in their databases. It seems that this broker is nothing more than a fraud, a big fat lie.
If you’re looking for a trustworthy online trading experience, your best bet is to stick with brokers regulated by authorities in the US, UK, EU, and Australia. These brokers are subject to strict conditions and regulations before obtaining a license, ensuring a higher degree of trustworthiness. So be cautious out there, and always do your due diligence before entrusting your funds to any broker.
What Options Do Traders Have for Online Platforms?
You may want to think again if you’re considering MainTrade as your go-to trading platform. While the broker’s website is riddled with glowing reviews and awards, the reality is not so impressive.
Of course, they claim to have won accolades for the best platform for margin trading and the best crypto trading platform. Yet, the truth is that the platform itself is nothing to write home about. In fact, the only trading option available is the basic WebTrader, which doesn’t even allow access to popular third-party venues like MT4, MT5, or CTrader.
MetaTrader 5 (MT5) is widely regarded as one of the best trading platforms in the world. It is available as a web application on top of its cutting-edge PC version. Yes, you heard that right. You can access MT5 from any browser, and there’s even a mobile application available for Android devices. The only downside is that iOS devices don’t support it yet.
Accounts Types Available
This broker offers a range of account types, each with different perks. Let’s take a closer look:
- Standard: Leverage of 1:200 and a bonus of up to 30%
- Silver: Leverage of 1:400 and an individual account manager
- Gold: Leverage of 1:500 and a bonus of up to 100%
- VIP: Weekly meetings with a senior analyst and a personal business plan
While these benefits may seem appealing, always prioritize your safety when choosing a broker. Many regulatory laws restrict high leverage, and some administrations have bans on bonuses. Besides, these bonuses can come at a cost when it’s time to withdraw your funds. Be cautious and make sure to choose a legit broker to ensure a secure trading experience.
Take a look at the trading assets that MainTrade, the scam broker, claims to offer. They are as follows:
- Currency pairs (Forex Market) like EUR/USD, GBP/AUD, CAD/NOK
- Indices such as Dow Jones, FTSE100, and S&P500
- Shares in big-name companies like Lufthansa, Amazon, Alibaba
- Crypto assets such as BTC, SOL, and FTM
- Commodities including gold, natural gas, and soybeans
Sounds like quite the selection, doesn’t it? But before you get too excited, know that this is all smoke and mirrors. MainTrade is a fake platform, created to lure unsuspecting traders into their trap. So, while the trading assets may seem enticing, remember that they’re just part of the broker’s plan to take your money and run.
MainTrade Deposit and Withdrawal
The only payment processors available are either completely unknown or downright sketchy. That’s a massive red flag! Legit brokers offer a variety of safe payment methods, including bank transfers, cards, and popular e-wallets like PayPal, Skrill, Neteller, Advcash, and GiroPay. That’s just how it is!
But at MainTrade, they don’t give you the full picture, by any means. They’re pretty vague about transaction fees. Also, they hit you with an annual administration fee of $100. Plus, if your account is inactive, they’ll charge you $50 a month. Know that regulated brokers don’t do that. Or, if they do, the fees are much lower. So, steer clear of MainTrade if you want to avoid getting scammed.
How Do I Recover My Money If MainTrade Scams Me?
After a review of the MainTrade fraud, we’re eager to unveil a solution for those seeking a refund. Despite the brokerage’s claims that crypto transactions are irrevocable, hope is not lost.
Trace your transaction using its unique ID and find the ultimate endpoint of your coins. Armed with this knowledge, you can initiate a dispute for the retrieval of your funds.
- MainTrade is a fake firm that scammed many investors of their hard-earned money.
- The company uses fake reviews to lure people who lack knowledge.
- MainTrade employs aggressive sales tactics to convince clients to invest more money.
- The broker refuses to allow withdrawals, so you can’t access your funds at all.
- MainTrade also manipulates trades and shows fake information to fool you.
FAQs About MainTrade Broker
What Is The Minimum Deposit For MainTrade?
Their website lacks clear information about the minimum deposit amount. This is a red flag.
How Long Do MainTrade Withdrawals Take?
It is unknown how long withdrawals will take as nobody was able to withdraw any funds from this broker scam.
Is MainTrade a Trustworthy Broker?
No. This broker is not trustworthy at all. You should keep this in mind to avoid being scammed.