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MarketsBank Review – Find Out More About MarketsBank.Com
Table of Content
MarketsBank Review, If anyone believed that they are a reputable FX and CFD trading broker they are making a huge mistake. Not that it’s not trusted, but even more red flags are all over the place. First, if we take a look at the company website they state they are from the UK. However, their owner is Tech-Stat Solutions LTD based in Hungary.
As that being said they should comply with the regulations of the Hungarian Financial Supervisory Authority ( HFSA ). Besides that, the company should work according to ESMA rules since they are operating in the EEA zone. However, they provide leverage way out of the allowed zone of 1:30.
To check all these statements and build a conclusion if this broker is a scam, we will present you all the facts in this article.
|Minimum Deposit||250 $|
|Review Rating||2.2 on Trustpilot|
MarketsBank Financial Safety and Compliance
As with any other financial institution they should be regulated. With HFSA they are not. Therefore, we checked some other Tier 1 regulators like FCA, BaFin or ASIC. Unfortunately, the results were disappointing. It looks like this is just another anonymous bogus scam broker.
On top of everything, the broker is openly lying about how they comply with various jurisdictions in the world, which is a false statement confirmed. Any basic Terms & Conditions are questionable with this broker and non-reliable since nobody is monitoring their actions. So, even if they bring up some fake AML and KYC policies during the withdrawal process, don’t trust those.
According to MarketsBank broker reviews more than 70% of clients had issues during withdrawal procedures. Any scam broker like this should be avoided at all costs.
Available Trading Platform at MarketsBank
According to the company they only offer Markets Bank Trade Station ( MBTS ). Trying to get access to the platform was mission impossible. They are only targeting specific countries therefore you are limited. Allegedly the platform is intuitive and provides all advanced features. However, if you can’t see those features you are wondering if they exist at all.
Besides that, the company states that there is a mobile version available for Android and iOS devices. As expected, you can’t get hold of those because the platform is unaccessible and on the website, there are no download links.
That’s why we suggest clients look for companies that offer MT4/MT5 or cTrader as trusted platforms. But even if they had access to those, this broker lacks necessary legal information therefore it’s illicit.
Account Options Offered
This broker offers unreasonable 7 different account types:
- Bronze – 10.000$
- Silver – 25.000$
- Gold – 50.000$
- Premium – 100.000$
- Platinum – 250.000$
- VIP – 500.000$
- Managed Account – 500.000$
The main difference between accounts is certain conditions like higher leverage, managed accounts, tighter spreads, educational materials and more. Since the goal of broker scams is just to extract as much money from you, these are cheap tactics they are using to accomplish that.
Be careful when you are handing your money over to non-regulated brokers.
As an investment scam, they provide a very solid range of assets. Those are:
- Forex – USD/EUR, USD/JPY, EUR/SEK
- Commodities – oil, natural gas, platinum
- Indices – NASDAQ, FTSE100, DAX30
- Shares – Apple, NEO, Pfizer
- Cryptocurrencies – ADA, XRM, LTC
Even though the availability of assets is amazing, the data presented on their platform is questionable. Brokers like these lure clients with fancy adverts about robot trading. They manage to provide you with quick results just by manipulating prices and trading conditions. After that, you believe that you made something and you jump to put in more money.
Don’t trust non-licensed brokers, because whatever they say, they don’t want to help you!
Deposit and Withdrawal Policies
The broker offers standard methods for deposits and withdrawals. Cards and bank transfers. However, one of those goes easier than the other. If you take a look at any MarketsBank review you will find only people complaining about withdrawals. Nobody was able to get the withdrawal.
Moreover, withdrawals can’t be performed by the client but you need to contact the support team for that. That’s where another pitch starts to put even more money than you have already.
That’s why we always mention looking for a regulated company. Conditions are transparent and you can get your profits back to your bank account. Not like with the MarketsBank scam.
MarketsBank Offers Bonuses and Promotions
Let’s be honest, nobody reads T&Cs these days. That’s exactly why traders get scammed. This broker on top of all dirty tricks uses one last to destroy their clients completely. They offer bonuses. At first glance, you might think it’s a good deal.
But deeply hidden in the bonus policy you can see that you need to make a 1 lot of profits to get that profits out. This means on a deposit of 250$ and a bonus of 250$ you need to make 25 million to get the money out. It’s complete nonsense. However, if you reach that you will get on some other excuse why not to get money out.
It goes round and round until you break and forget about it at all!
How Do I Get My Money Back After MarketsBank Scammed Me?
Still, if you get sick of the calls and you can’t get money out, you have a solution. Chargeback procedures work like magic in these situations, especially if you have used a debit/credit card for that.
Unluckily, it is time-limited so we need to act quickly. Get in touch with our experts now to find out what is your first step in fund recovery.
- Non-regulated and anonymous broker
- Allows only certain countries to apply.
- The very low rating on customer experiences.
- Unclear and suspicious trading conditions.
FAQs About MarketsBank Broker