MA-Trade: reviews on trading with the broker, assessment of conditions
Review of MA-Trade: What Kind of Company is It?
MA-Trade claims to be a leading CFD broker, endorsed by experts and regulators. Despite the lack of reviews, it is stated that the company started its operations in 2018. However, doubts arise about its intention to operate honestly and pay profits.
What Do We Know About MA-Trade?
Let’s look at the statistics provided on the MA-Trade website:
- 183 thousand active accounts,
- 4 million trading operations per day,
- Over 120 financial instruments (although somewhere it is mentioned as 200+),
- Daily turnover exceeding $71 million,
- Over 4 years in the market.
Subsequently, we decided to verify the accuracy of this data. It turned out that the MA-Trade domain was registered in 2016, but there is no information about it in the web archive. After analyzing WHOIS, it became clear that the site was updated in April 2021, corresponding to the time we detected fraudulent activities.
Regarding contact information. The company provides a false address and phone number that is impossible to reach. Nevertheless, on various forums, one can find reviews about MA-Trade’s fraudulent activities.
The certificate of company registration in Saint Vincent and the Grenadines does not provide any guarantees. Considering the lack of regulation and several other facts, it can be assumed that this is a bogus company.
Despite claiming to have licenses from various regulatory bodies, they are not actually verified. For example, neither the International Financial Services Commission of Belize nor the Financial Services Commission of Mauritius has any information about the company MA-Trade. The Central Bank of Russia also warns about the risks associated with dealing with offshore companies.
Trading Conditions on the MA-Trade Platform
There is no information about the possibility of opening a demo account on the platform. Instead, you are immediately asked to fund your account with a minimum of $1,000. Insufficient information about trading conditions could lure in inexperienced traders.
Three types of accounts are offered:
- “Standard” with a minimum deposit of $1,000 and leverage of 100x,
- “Gold” with an initial deposit of $10,000 and leverage of 1:500,
- “Platinum” requiring investments from $25,000.
The lack of information about the payment policy and other trading conditions raises doubts about the company’s honesty.
Reviews of MA-Trade and Their Absence
At the time of writing, there are no reviews about the company. We will keep an eye out for updates and incorporate the opinions of real clients as soon as they become available.
How MA-Trade Deceives?
The company’s fraud scheme is based on simulating trades using a fake terminal and manipulating data to extract funds from clients.
Conclusions
Overall, MA-Trade is a dishonest broker seeking to deceive unsuspecting clients. Be cautious and do not risk your funds on this platform.