MOYO Trade (moyotrade.com) is an offshore trading platform in a bit of a mess. For a few weeks now, members have been complaining of a lack of withdrawal. And this is one of the reasons why we need to shun the platform. The platform has been blocking withdrawals communicating the reasons to members. Others even claim MoyoTrade is now deleting their accounts. Find out more in our exclusive MOYO TRADE REVIEW.
According to the homepage, MOYO Trade is a social trading platform. The platform is even paying Fiverr users to post positive posts on TrustPilot. You get a platform offering zero commissions and a wide array of trading instruments.
What the platform lacks in service makes up in design. The website design is easy to navigate, and all information is available. But, thanks to our keen eye, we have proof that the platform is a hoax.
There are several red flags found on the platform. These include a lack of any information on available trading tiers. We urge you to read this moyotrade.com review for more. In addition, the platform won’t hesitate to delete your account if you deposit huge amounts.
You should invest in a proven platform with years of trading experience. We recommend using innovative platforms that offer groundbreaking strategies. Try out coin staking, DeFi, and Masternoding for a chance to realize financial freedom.
MOYO Trade is not the platform that will help you increase your trading skills. There are a lot of red flags that authorities will have to shut down. Despite claiming to be the best, the platform is in a mess.
Your priority as an investor is to do due diligence. First, find out what others are saying about the platform. Next, make sure to ask for withdrawal proof before committing funds to such a platform. And finally, ensure the platform follows regulations.
MOYO Trade fails to inform users of the available trading accounts. As a result, investors are signing up blindly, not knowing the full trading conditions. And this gives the platform a chance to take advantage of naïve investors.
There’s no information on the acceptable minimum deposit. Instead, the platform will insist that the more you deposit, the higher your chances of winning. And this is why we must shun the platform.
Regulators have put a cap on the minimum acceptable deposit at $250. The platform also fails to inform members of available leverage. It would be best if you understood that high leverage would put your funds at risk.
The industry has put a cap on leverage at 1:100. In the States, regulators have put a lid on leverage at 1:50 for retail traders. And this is the reason why you need to know a platform’s leverage before signing up.
Most traders are affiliate marketers as it’s an excellent way of earning passive income. You get to earn extra income by directing users to leading trading plaHowever, before. Before you become an affiliate to MOYO, you need to understand the consequences.
The platform will put you in the crosshairs of those who you direct. Seeing that no one gets to withdraw funds, these investors will lay the blame on you. You will likely lose your reputation due to the platform’s unpopularity.
There are five classes of assets available on the platform. The platform offers commodities, Crypto, forex, indices, and stock markets. In addition, you can trade commodities such as gas, gold, sugar, wheat, and more.
The platform also avails 20 crypto assets which are paired against the US Dollar. However, with Crypto being a volatile market, everyone wants a piece of it. Therefore, we recommend investing in other crypto platforms such as coin staking.
With forex trading at the core of every market, the platform offers major and minor pairs. However, it would be best if yHowever, you kept in mind that the platform doesn’t mention available leverage on these assets. And this is the reason you should stay away.
You also get to trade on world markets thanks to available exchanges such as DAX and DOW Jones. The platform also ensures users trade with stocks from global companies. For example, you get to trade shares from the FAANG group and other global company shares.
The disclaimer at the footer of the homepage suggests that MOYO Trade is a Fintech company. But, unfortunately, there’s no information on who owns or runs the platform. As a result, we don’t get to see any names associated with the platform.
There are no records of the company being registered. Despite claiming to be registered in St. Vincent and the Grenadines, this is all false. What we have is a registration number are random digits.
It makes moyotrade.com an anonymous and offshore investment platform. The two features are what make it a no-go zone for us. With anonymity comes uncertainty when it comes to the safety of funds.
There are ways to ensure the platform looks good, and it’s the road the owners take. First, the platform has been hiring Fiverr members to post positive reviews. It explains why there are over 80 reviews within a few days.
That’s how we know that these positive reviews on TrustPilot are doctored. Victims have already shared their experiences and corresponding emails from the platform. So it would be best if you avoided it as best as you could.
When choosing a reliable investment platform, you should first test its support structure. Then, get to know how fast a platform responds to calls or emails. With MOYO, it’s another story. The platform will take ages to respond to emails.
There’s no contact information on the entire website. When you click on the contact tab, you are redirected to the about us page. And this shows the lack of concern for investors. We are sure the platform wants to control the communication channels.
You can fund your accounts using bank and wire transfers. However, we don’t recommend it as the platform is notorious for claiming not to receive funds. For those lucky enough, the funds will appear on their trading account within 24 hours.
It’s at this juncture that you can start trading with the various trading instruments. However, when the time comes to withdraw funds, that’s when all hell breaks loose. You won’t get to withdraw funds as the platform won’t allow it.
The problem has been persisting for weeks now, and complaints have reached regulators. We know for a fact that such platforms end up facing a warning from regulators. Hiring recovery agents won’t help your cause.
MOYO Trade does not hold any license, which makes it an unregulated platform. Such entities will take your funds and fail to protect them. The platform is facing serious allegations and will end up paying the full price.
You should ensure the platform you choose is fully compliant with industry regulations. Go for platforms that enjoy the backing of reliable regulators. These regulators include ASIC, CFTC. CySEC, FCA, and the SEC.
Other notable regulators include BaFIN, CNMV, CONSOB, FINMA, and NFA. Regulators will protect your interest at all costs. As a result, you will get fair trading conditions and a platform that guarantees your safety.
The platform doesn’t guarantee the safety of funds. For example, there’s no deposit insurance to cover your funds.
Please stay away from moyotrade.com or any other platform sharing the same similarities.
Instead, go for viable investment platforms that enjoy the backing of experts. It’s the safest way to invest.
Feel free to leave a comment or write to us with any queries.
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