A completely anonymous website, MTrade360 is a risky investment platform. The platform claims to offer innovative power tools that align with your goals. It’s a platform with a fantastic sales pitch; that’s all that they provide. And M Trade 360 could lead investors into financial ruin shortly. The name sounds the same as MTradeAsia, but the two are not related in any manner. Here’s the complete MTRADE360 REVIEW.
Although they claim the platform was launched a few years back, they fail to give the exact date. We are also left with questions as to who owns and runs the platform. These are the details that make MTrade360 completely anonymous.
At first glance, the platform appears to be the best thing to happen to you. It has an appealing look thanks to the design aspect. Don’t be fooled by it, though, and there are red flags all over the website.
For naive and newbie investors, it’s hard to spot some of these errors. But, thanks to our years of investing and trading, we know what to look out for. And in this post, we will expose all the dirty tricks used by the platform’s creator.
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There are a lot of missing features on the platform, such as the maximum leverage. In addition, the homepage fails to give users the much-needed information of what you need. There’s also no mention of swap features or whether there are any commissions.
The account registration process is another case of information harvesting. During the account verification process, the platform demands valuable documents. These documents include bank statements, a copy of your ID, and credit card details.
We don’t see the reason for this as they can verify accounts using other channels. These include sending SMS alerts or emails with verification links. So we can only conclude the platform is harvesting data for other uses.
MTrade360 offers three account types to choose from. These accounts include Mini, Premium, and Classic. However, we must warn you that the platform asks for $500 as the minimum acceptable depository amount.
Here’s a closer look at the three accounts
Mini
It’s the most basic account and has a minimum deposit of $500. The amount is double the set price by industry regulators. You should only invest with platforms that follow set guidelines by regulators.
The features listed include online chat support and individual competitive spreads. Despite the claim to commissions and competitive spreads, the account fails to impress us. It does not offer any meaningful reason to sign up.
Premium
Members must deposit $20,000 to start trading with the premium account. It’s the most exclusive of the three accounts. Members even get a free mentor and an account executive team. Online phone support is also available for premium members.
Classic
For the classic account holder, the platform offers $5,000 as the asking price. It’s the account for seasoned traders with a few added features. Members get real-time trading signals and a trading education program.
There are three ways in which you can fund your accounts. These include bank transfers, credit/debit cards, and wire transfers. Fees will be determined with the mode of transfer and the amount you choose to invest.
Withdrawing funds is not as straightforward as one might assume. There are a lot of hurdles to overcome. The platform has first to confirm and agree to release funds. And this is where most traders end up losing their funds.
We haven’t seen anyone withdrawing funds from the platform. However, there are complaints that the platform insists on small withdrawals. For example, you can only withdraw 10 percent of your depository amount at a time.
Although the platform claims to process withdrawals within 2 business days, it’s not the case. And the withdrawal terms claim funds might take longer to appear in your bank account. But, again, it’s unclear why the platform would make such statements.
Claims of having professional account managers are unfounded. We believe the platform is using call agents to act as account managers. Their role is to convince members to deposit more funds in the prospect of earning high returns.
You will get a call from one of the members claiming they have found a lucrative investment prospect. The caller goes ahead and claims they have made the reservations for you. All you have to do is make a deposit and wait for the profits to soar.
Those who make the mistake of adding more funds end up losing their stake. When you try to reach out, you will be directed to another agent. Chances of talking to the agent diminish by the day.
The platform claims to provide members with the best forex signals. Furthermore, they claim to work closely with leading technology providers. However, we do have questions in regards to the accuracy of these signals.
Members might get the signals late and end up losing trades. The platform fails to give users a chance to test the signals. The demo account would be ideal for testing signals and their accuracy.
There’s no mention of who runs the platform. We don’t have the names of the CEO or CFO of the platform. And this means we are dealing with a completely anonymous platform. There’s no forwarding address or mentions of account managers.
Joining an anonymous platform should be the last thing on your mind. But, unfortunately, these platforms offer nothing but pain to investors. There’s no way you can recover funds from an anonymous platform.
Another red flag that you might miss is found on their support page. When you land on the page, you notice the platform leaves a forwarding email. There’s also a message board where parties can leave their message.
What’s missing from their contact page is direct access to the platform’s support team. There’s no way you can directly talk to support. Sending an email isn’t helpful as they might take days to respond.
We have seen this before with offshore and unregulated platforms. They fail to provide direct access for fear of being tracked down. The people behind it don’t want to face any repercussions when investigations begin.
MTrade360 is a risky platform as they don’t hold any license. In addition, the platform fails to provide any documents to prove compliance. And this means they fail to deposit the minimum capital requirement with authorities.
When investing, we recommend you sign up with platforms regulated by reliable bodies. These bodies include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, FINMA, and the SEC. Without any oversight, the platform will take advantage of naive investors.
Safety of funds is out of the question with an unregulated platform. M Trade 360 does not provide insurance cover for deposits made. And this puts your investment at risk, especially if they decide to shut down.
No member will receive any compensation in the event of bankruptcy or insolvency.
We won’t recommend the platform due to the various issues we spotted. It’s best to find other proven alternatives.
Go for approved and tested platforms that offer advanced investment opportunities. It's the best way to earn realistic returns.
Feel free to leave a comment or email us with any questions.
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