Is Markets Trading a scam broker?
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Markets Trading is owned by Markets Trading Ltd., located in the Netherlands, is an unlicensed forex broker with offices in the UK, and Germany.
If any trader uses auto trading robots the company cancels his profit.
The platform provided to traders is TraderSoft which is a very familiar forex trading platform. Even many CFD brokers use this platform too. There are 180 underlying assets offered to traders which include major currency pairs, metals, commodities, stocks, and market indices with a wide range of options type and expiry times. Crypto currencies are available for CFD trading. Minimum deposit is $250 and minimum trade amount is $5.
Few features that the company claims are:-
It has an innovative trading platform which gives trading solutions that help investors profit from more experience and knowledge.
The customer support team is professional and each one is hand picked to respond to every single trader needs. They claim that both new and experienced investors will remain satisfied and happy.
Every forex traders wish to earn maximum return on his investments. Hence Markets Trading uses this weakness and that’s why they offer 80% payout.
Many people feel Markets Trading is a scam broker because the company offers a trading bonus of upto 100 percent. It is here where it lays its trap. Investors are requested to read bonus T&C many times before accepting it, especially the new traders who have never taken any bonuses. As there many complaints from traders who wish to withdraw the bonus. Most of the online scam companies keep T&C for withdrawing bonus in such a way that it is impossible to withdraw it. There are many complaints in this regard with the regulatory authorities.
The account types offered are Standard (minimum deposit of $200), Silver ($1000), Gold ($5000) and Platinum ($10000). Even Islamic trading account is also offered.
One of the traders Mr. T in his comment on a website tells his story how he was scammed by Markets Trading and when he complained to Netherlands Fraud Helpdesk they informed that they (NFH) were not legislated to do any investigation. He was referred to Dutch Financial Authority (AFM) who said that since Markets Trading are not regulated by them and they cannot do anything in this regards. Mr. T feels that all the regulatory authorities are together hand in glove with the scammers and wonders how these illegal criminal activities can be legally challenged. He wasted a lot of time with Netherlands authority. According to him Markets Trading in their address have mention PO Box and he feels that they operate from faraway places and are do not come under Euro law. It seems the author has not heard about MyChargeBack who provide step by step guidance and help people recover money especially if they have invested through their credit card. The lost money can be regained and criminals will be languishing behind bars.
One of the authors in the comment section has given very good suggestion to deal with Markets Trading scam. She suggests’ the scam victims to send a signed petition to Action Fraud Police and FCA through email. Once the police get’s more than 5 complaints they get into action. Many people will be saved of being a fraud victim as Markets Trading is a scam broker and should be stopped before it spreads like a forest fire.