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Metadoro Review – All You Need to Know About Metadoro.Com
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First, we need to give credit where credit is due. Metadoro belongs to a company called RHC Investments, which is regulated and they actually have legal documents shared on their website.
The problem is, Metadoro is registered in Mauritius and regulated by the FSC. FSC, or Financial Services Commission, is a Tier3 regulatory body and has very minimal requirements a broker has to meet in order to be regulated.
And, while being regulated, Metadoro is also blacklisted by NSSMC, the Ukrainian regulator, due to numerous complaints filed for illicit activities.
Is Metadoro Legit or a Scam Brokerage?
As mentioned above, Metadoro is regulated by FSC, which belongs to Tier 3 regulators. Beside minimal requirements, FSC can monitor Metadoro’s activities only in its jurisdiction, Mauritius. This practically means that Metadoro has no regulatory authorities monitoring their activities outside Mauritius. And let’s not forget NSSMC’s warning against this offshore broker issued this year.
So, it’s clear we’re dealing with an offshore fraudulent brokerage.
Metadoro Trading Software Overview
Metadoro also gets some credits for the trading softwares offered, MT4 and MT5. These two have been an industry standard and known for their efficiency and a wide variety of features available. Both versions are available on most operating systems and devices, and are used by most regulated brokers.
However, although Metadoro offers MT4 and MT5 to their clients, it doesn’t mean that it’s not a scam and there won’t be any shady activities and trading manipulation. There’s a long list of legitimate forex brokers who also offer both softwares.
Metadoro Account Types Available
One can open a demo account and get 7 days of free trial and $100 to test waters. Beside the demo account, one can choose from the two account types: ECN MetaTrader 5 and NDD MetaTrader 4.
In Metadoro’s Terms and Conditions it is stated that they keep the right to request a minimum deposit determined by the company. This is rather unusual and, considering the fact that one is required to submit personal documents upon registering, minimum deposit might vary based on the information provided.
Available Trading Instruments at Metadoro
According to the website, Metadoro’s clients can trade with:
This is nothing out of ordinary, most of the major markets are covered. Crypto, especially Bitcoin, has been traded the most for some time now worldwide.
Deposit and Withdrawal Procedure for Metadoro
As the minimum deposit is being determined individually, the exact amount is unknown. This scammer hasn’t disclosed any information regarding transaction methods available. Based on what we could find from other sources, wire transfers and credit/debit cards might be options.
However, there are clauses and high fees which are put in place to discourage one from withdrawing their assets without trading. Additionally, there are inactivity fees (20 EUR per month) and required high trading volume if bonuses were accepted.
Metadoro Offer Bonuses and Promotions
Bonuses have been one of the oldest tools scammers use to attract unsuspecting victims. Beside promotions and bonuses, manipulating trading platforms to trick victims they’ve made profits is also a common way of scamming people to steal their money.
Metadoro offers a free trial for a week and $100 bonus to trade and keep all the profits made. But, a minimum $20 deposit is required to “verify the client in the payment system”. Additionally, the profits can’t be withdrawn unless a certain trading volume is reached.
Got Scammed by Metadoro? Get Your Money Back!
Scamming brokers like Metadoro could be difficult to recognize as scammers as they’re covered by Tier 3 regulators and may seem legit without detailed research.
That’s why one may fall into the trap and get tricked into investing and trading with them.
However, there’s a way to get your assets back if one deposited money using a credit card. Credit card providers like Visa and MasterCard offer the chargeback option.
Chargeback is a way of charging back the money of the disputed transaction without the approval of the one who had received it.
- Metadoro belongs to a company called RHC Investments, which based in Mauritius and is regulated by FSC, a local Tier 3 regulator.
- Metadoro was blacklisted by the NSSMC, the Ukrainian regulator due to numerous complaints for fraudulent brokerage.
- Metadoro decides on the amount of minimum deposit individually.
- If an account remains inactive for 6 months, an inactivity fee of 20 EUR/month is charged.
FAQs About Metadoro Broker
Is My Money Safe With Metadoro?
Although regulated, the fact that Metadoro was blacklisted by another regulatory body confirms that we’re dealing with a scam broker.
How Long Do Metadoro Withdrawals Take?
Metadoro hasn’t disclosed any information about how long it takes to process a withdrawal request.
What Is Metadoro Headquarters Country?
Metadoro belongs to RHC Investments, a company based in Mauritius.
What Trading Asset Metadoro Offers?
Metadoro offers forex, crypto trading as well as trading with commodities, indices and shares.