Suspicious Practices of CFD Broker Magnatdo: How to Recognize Them
When dealing with a registered intermediary in an offshore zone, doubts arise about its integrity. According to data, 99.9% of CFD companies from St. Vincent and the Grenadines are scammers. One such firm is Magnatdo, which is a new version of previous scams (Brokfx, Linexfin, Topbrok, etc.), which duped their clients. Let’s carefully examine the reasons why traders continue to register on magnatdo.com and their methods of deception.
Details About “Magnatdo” Company
Fake CFD broker Magnatdo claims to have been in the market since 2006, but this is highly doubtful. This information is provided to persuade investors of their honesty and intention to cooperate long-term. However, in reality, it’s all different! The scam project started less than two months ago, so such a company cannot have thousands of satisfied clients making a profit of 160% annually.
After analyzing the resource, we determined that only 50-60 people visit it daily. This indirectly indicates that Magnatdo is most likely a short-term project. The creators deliberately seek to deceive each client and maximize their earnings.
More details: 175-177 Borough High St, London SE1 1HR (United Kingdom).
Referring to this information, we found that no one has heard of a CFD firm at the specified address in London! This address belongs to DELTA HOUSE, which has no connection to the financial sector.
Broker’s Activity Documents: Magnatdo’s Registration Certificate and License
The website magnatdo.com does not mention a license; instead, a certificate of registration in the English Chamber is provided. Checking the number, we found that a company with a similar name exists, but it operates in different fields and is registered at a different address.
Magnatdo provides offshore registration data with an address in St. Vincent and the Grenadines. Experience shows that legislation in such countries is virtually non-existent, allowing scammers to act unnoticed and avoid punishment.
Registration and Verification on magnatdo.com
The registration process on the Magnatdo website mimics well-known fraudulent schemes. Many investors avoid this site. It is important to carefully study the terms of engagement and customer agreements.
- Clause 3.5 – all power lies with “Magnatdo”: they can close your account without explanation.
- Clause 4.11 – the trading platform can freeze at any moment at their discretion without liability.
- Clause 5.10 – the company reserves the right to present inaccurate quotes.
Accounts on magnatdo.com
There are no demo accounts on the Magnatdo website. They immediately encourage risking funds, which is a scandalous violation of standards. They offer several types of accounts:
- ELEMENTARY. Initial deposit – 100 USD. Currency trading is offered.
- STANDARD. Minimum deposit 1,000 USD.
- VIP. Account is active with deposits starting from 10,000 USD.
Reviews of CFD Broker Magnatdo
Reviews from former clients help understand the company’s truthfulness. Many complaints are already being received about Magnatdo.
Client Marina fell into a trap and is unsure of her actions. Stepan is grateful to the bank for preventing money transfers to Magnatdo.
Many traders have recognized the scam, and their experience helped avoid the scammers’ calls:
Magnatdo CFD Broker Fraud Scheme
The Magnatdo project uses standard scam schemes. Clients report being lured with empty promises and coerced into making significant investments.
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Results of the Investigation into “Magnatdo” Company
Analysis has shown that Magnatdo is another scam using standard fraudulent methods. Do not trust them with your money; they will not return it to you!
