Meteor Trade: reviews of work and analysis of trading conditions

• Categories: CFD-Brokers

Review of Meteor Trade: how to choose a reliable broker

When searching for a reliable broker, you have to overcome an increasing number of offers. However, it is quite possible to distinguish a fraudulent project from an honest company. In this review, we will analyze the activities of Meteor Trade, check its documentation and legal status, provide traders’ opinions, and answer the main question: is it worth trusting this broker.

Getting to know the broker: general information and details

The Meteor Trade website looks decent, indicating that time and resources have been invested in its development. Unlike other platforms, meteortrade.pro inspires confidence in its reliability.

However, having an attractive website alone is not enough. The essential requirements for a broker are reliability, clarity of conditions, and guarantees of fund security. Considering that Meteor Trade has only been operating for a few months, it is doubtful that it meets all these criteria.

The domain was registered by Incendiary Group LTD, created only this year. This fact is recorded in the Dominica registry.

This offshore jurisdiction offers attractive conditions for those who wish to conduct business anonymously: no need to disclose the identities of founders, as well as no requirement to provide reports and financial statements. The specific choice of this zone for business registration raises questions about the company’s honesty.

Immediately after the registration of Meteor Trade, the founders of Incendiary Group LTD launched Influx Finance. The approach to site content, design, services, and trading conditions are similar to those described in the review. It is likely that additional platforms under the management of Incendiary Group LTD will appear in the near future, indicating that Meteor Trade is more likely a “one-day” operation and will close after a few months, leaving behind only negative reviews.

In terms of customer feedback, the situation at Meteor Trade is extremely negative. The “Support” section offers only forms for requesting a call and consultation. The specified support email address turns out to be invalid.

The actual address of the company is the legal address of Incendiary Group LTD: 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica. It is unlikely that this is a real office, as only a postal address is required for receiving correspondence to register a company in Dominica. Thus, contacting the intermediary through the office is impossible.

Regulation of activities: license verification

By claiming their registration in Dominica, Meteor Trade, according to the broker, confirms its legality and the right to provide services. However, in reality, this registration does not guarantee anything, as Dominica has officially refused to regulate the activities of brokers, leaving them free in their actions.

The reputation of intermediaries from this offshore territory is minimal, major liquidity providers and banks do not cooperate with them, and there is no verification as to whether they transfer trades to the international market. Therefore, Meteor Trade’s claim to their “reliability” sounds absurd.

Meteor Trade specifically states that services are not provided to users from Russia.

This is done to avoid questions about having a license from the Central Bank of Russia, which the company does not intend to obtain.

Nevertheless, Meteor Trade actually provides services to Russian users. They can register without any problems, providing their address, and fund their account through a Russian bank. There are already reviews from Russian users about Meteor Trade on the internet, confirming that the refusal to cooperate is a lie.

Trading conditions at Meteor Trade

The platform offers several types of trading accounts to attract diverse clients.

Traders can trade stocks, currencies, metals, commodities, or indices. The Meteor Trader platform, based on the well-known Webtrader terminal, is offered for transactions. The broker does not offer any innovations in technical equipment.

In addition, bonuses are offered to attract new clients, but these bonuses are provided under certain conditions.

Without meeting these conditions, you will not be able to withdraw funds from the account. Thus, scammers force traders to make trades until they spend their entire deposit.

User reviews about Meteor Trade

In its short existence, Meteor Trade has already misled enough clients, leading to negative reviews online. Some of them will be considered.

It should be noted that reviews also come from English-speaking users, indicating that scammers operate in various countries despite the absence of licenses and permissions.

For example: “I was not informed about the investigation. They took my money, reported my profitability, but then just disappeared. The support email address turned out to be invalid.”

It is evident that the organizers do not intend to stop and will continue their schemes, attracting new “victims.” Be vigilant and listen to the experience of the authors of these reviews.

Scam scheme in Meteor Trade

The broker operates according to a proven scheme: the main thing for scammers is to obtain a potential client’s contact number or attract them through social networks. This is done using account monitoring, purchasing contact databases, contextual advertising. After contacting the client, the manager convinces them to open an account with Meteor Trade.

It should be noted that scammers like Meteor Trade never bring trades to the market. All transactions are executed on the Meteor Trade server, making real profits impossible. If a client requests a fund withdrawal, they may be refused, citing various contract conditions or blocking the account. According to reviews, contacting the support service is pointless since there is no response from the scammers.

Why you should avoid cooperation with Meteor Trade

After analyzing the situation, we have concluded that Meteor Trade is one of the projects of scammers registered in an offshore jurisdiction. The broker’s activities are not subject to regulation, and their actions are illegal, as confirmed by reviews from real traders. We do not recommend working with this broker if you do not want to lose your money.