Now you will discover something entirely new. Metadoro is a bit bizarre. This broker frankly has a license. Nonetheless, behind it is an offshore regulator that has hardly any conditions for brokers under its supervision. In addition, the Ukrainian financial authority NSSMC has blacklisted Metadoro. Let’s take a look at this comprehensive Metadoro review to discover more interesting facts.
|Headquarters||30 St Georges St, Port Louis, Mauritius|
License and Regulations of Metadoro
Metadoro is a part of RHC Investments, a Mauritius firm licensed as a securities dealer by FSC. On paper, it’s a legit forex broker, but in real life, it’s not! Stay tuned to see more!
If you reside in a country that does not impose requirements on foreign exchange brokers, the license from Mauritius is worthy. If you live in the US, UK, EU, Canada, Australia, Japan, or China, this license is worthless for you as local authorities require local licenses. In all of the countries mentioned, Metadoro’s trading services are illegal.
The lack of adequate regulation is one of the aspects of the license. Despite the fact that Metadoro is approved, investors remain vulnerable and exposed to risks due to the lack of customer protection measures.
In this particular case, Metadoro is defined by AACAPITAL INTERNATIONAL LIMITED. This is a corporate services agent, so after all, it’s still unknown who are the true owners of Metadoro, which is a big red flag.
Metadoro is blacklisted by Ukrainian regulators because it has questionable investment projects. That is a warning that confirms that Metadoro’s trading services are likely fraudulent. Negotiating with blacklisted brokers is always a bad idea, and you should avoid Metadoro. Keep this in mind!
Trading Platform Available at Metadoro
Metadoro claims to support MT4 and MT5, which are the greatest venues for FX trading. Both are steady and packed with many cutting-edge features such as automatic trading and analytical tools, trustworthy indicators, testers, and trading apps.
Clients praise MetaTrader for a reason. However, if you want to have any success in trading, trade with legit brokers only. Metadoro is not a legit broker. So, find a reliable firm instead.
Tip: There are corporations that market systems—signal sellers or certain bots—and usually sell unsafe things that do not yield profitable results. These scammy web pages often prey on new traders on numerous venues or forums. Keep this in mind!
Available Trading Instruments at Metadoro
Trading instruments include FX, indices, stocks, metals, ETFs, and crypto.
In addition to this, trading fees are low as the EUR/USD spread is often 0.4 pips. This is the industry standard. Yet, clients should pay a charge of $4 per lot, so the prevailing price is $8.
As leverage can be up to 1:500, the apparent trading stakes can be high. This is a risky level that is not advisable for retail traders. It has tremendous profit possibilities. However, 1:500 may blow your account within seconds, so be cautious. Nobody can guarantee that Metadoro will help reduce leverage.
Deposit and Withdrawal Methods
Metadoro asserts that the firm has the right to ask for a minimum initial deposit. However, no condition was charged at the time. The payment methods are also unknown. As you cannot register, you won’t be able to try the deposit system.
Withdrawal requirements are partly noted. Notably, there is no minimum amount, but there are expenses. Note that legit forex brokers very rarely charge withdrawal fees!
Another significant fee will apply in the case of inactivity. Specifically, after 6 months, an account becomes inactive and will be charged 20 EUR a month. This is exceptionally high. What’s more, most regulated brokers charge 5 to 10 bucks a month. So these conditions are bogus, by all means.
Offshore Brokers Fraudulent Tactics
Please be warned that you can lose a lot of money in forex trading. Always be vigilant, especially if you are a beginner. Do proper research before you decide to open an account with any broker. Even knowledgeable investors who use the services of legit brokers do this.
New traders can be tricked by many bogus websites posing as reputable brokers. Scammers will tempt you with many fake promises of easy profits. Trade only with regulated brokers and stay away from easy earnings.
More often than not, these fraudsters promise huge profits for a tiny investment. They will urge you to invest even more money. However, after you deposit, your cash will be lost.
You won’t even see a single dime from these pledged profits. It will become impossible to reach the minimum withdrawal amount. Scammers hide behind fake names and locations. So you won’t be able to identify them or hold them accountable.
Tip: Keep in mind that many newly established scam brokers will claim they use MT4 and MT5. Never let them deceive you that this is true! Make sure to do your homework first!
The Best Brokers for Forex
In the table below, there’s a list of the most highly advisable brokers. Be sure that you check out some of them!
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Metadoro is just another shady broker to stay away from. As you can see from this Metadoro review, there are many valid reasons to stay away from this investment scam.
Everything about this supposed broker is fake, so do not invest your money here.
Let us know if you have any negative experiences with this scammy broker. We can help you report this unscrupulous broker.
FAQs About Metadoro Broker
Is Metadoro Regulated?
Metadoro broker is not really regulated and not legitimate at all. Stay away from it!
What is The Minimum Deposit for Metadoro?
The minimum deposit requirement is not specified at all. That is suspicious!
Is Metadoro a Trustworthy Broker?
Metadoro is not a trustworthy broker. Make sure to remember this and save your funds!