Despite its claim of being a multi-asset class brokerage founded by experienced trading professionals, Motion Markets is actually a fraudulent boiler room company. It entices people with high leverage and absurd minimum requirements for certain account types.
So, it is worth noting that this unscrupulous broker lacks regulation from any governing authority. Let’s dive into this Motion Markets review for more details.
|Leverage||1:100 to 1:1000|
|Spread||from 0.13 to 0.0 pips|
Motion Markets – License and Regulation
No legal information is provided by Motion Markets, suggesting a lack of transparency and accountability. This is unacceptable, as it indicates that Motion Markets is overconfident in its offerings and potentially engages in illicit activities.
Likewise, the fact that this so-called broker is completely anonymous poses a greater risk than we initially realized, as they could act without consequences.
To make things worse, we discovered that this broker offers both AnyDesk and TeamViewer, which allow remote access to clients’ computers. This raises red flags and underscores the danger of dealing with an unlicensed broker.
Investing in an unlicensed broker is a reckless decision that can result in the loss of your money. Instead, we strongly advise you to choose licensed brokers based in European, UK, US, or Australian jurisdictions, or any other licensed entity that adheres to strict regulatory requirements, financial compensation plans, and anti-fraud practices.
Such licensed entities are the polar opposite of what Motion Markets and other deceitful brokers stand for.
Trading Software at Motion Markets
Motion Markets’ web-based platform boasts a user-friendly interface, but sadly, it offers only a narrow number of tools. As any skilled trader will tell you, a trading venue is crucial to your success. To maximize your chances of earning profits from online trading, you need smooth, reliable, and precise trading software.
Reputable brokers typically offer a wide range of platforms, including desktop, mobile apps, and web-based options. If you’re searching for a platform with a powerful charting package, auto-trading capabilities, and flexibility, your best bet is to pick MT4 or MT5.
Nevertheless, we have uncovered another concerning red flag about Motion Markets’ reliability. Their bogus site provides links to directly download popular remote control software tools like TeamViewer and AnyDesk, which raises suspicion about their intentions. We urge caution when dealing with this broker.
Trading Accounts at Motion Markets
|Broker||Motion Markets||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
Motion Markets masquerades as a legit broker and offers several account types, but in reality, they are only exploiting their clients. Let’s examine their account offerings.
The Basic account requires a minimum deposit of 250 EUR, but it only offers a limited number of trading assets. The Standard account, with a minimum deposit of 10,000 EUR, provides access to standard trading assets.
The Professional account, with a minimum deposit of 50,000 EUR, offers cutting-edge trading assets. The Elite account, with a minimum deposit of 250,000 EUR, is marketed as high-level trading assets. Lastly, the VIP account demands a whopping 1,000,000 EUR minimum deposit.
However, this is just a scam. It is absurd that even Elite account holders do not have full access to all tradeable products. It means that one must invest an enormous amount of 250K EUR to trade in instruments that can be acquired for 10 EUR with legitimate brokers. Motion Markets’ account offerings are merely a ploy to swindle clients out of their funds. Keep this in mind.
Deposit and Withdrawal Methods
The client area states that the minimum deposit is $250. Yet, the depositing area is completely empty, and no methods are revealed. The same goes for the withdrawal area, leaving us skeptical about the possibility of withdrawal, no matter how much the client invests or how many times they try.
In their Deposit and Withdrawal policy, the broker tells you about their fees for withdrawals and the payment methods they supposedly accept.
The fees are $50 for bank transfers, $35 for credit cards, and $25 for e-wallets, in addition to a 10% charge for all users. The broker promotes credit cards, bank transfers, and undisclosed e-wallets as payment options.
The broker also mentions potential hidden fees and commissions, which are vague and unclear. Since Motion Markets is unregulated, any withdrawal attempts will most likely be declined.
How Are Scams Implemented by Offshore Brokers?
Sadly, the online trading industry is plagued with a surge of fake brokers. This goes without saying. These deceitful firms employ many ploys to scam investors out of their funds. One such tactic is the offer of unrealistic returns, luring people into depositing large sums of cash.
These rogue brokers may also resort to high-pressure sales tactics or offer seemingly irresistible incentives and bonuses. Furthermore, they often use fake reviews and testimonials to create a façade of legitimacy. Investors must be diligent and carry out extensive research on any potential broker to avoid these scams.
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|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|
Motion Markets – Summary
Motion Markets is an online trading broker that offers various trading instruments. However, the broker is unregulated, and there are several red flags that indicate it may be a scam. These red flags include high minimum deposits, limited trading tools, and murky deposit and withdrawal policies.
Moreover, Motion Markets has been accused of using aggressive marketing to lure in new investors and promising unrealistic returns. Thus, investors are advised to be careful when dealing with this broker and to do research before investing any funds.
FAQs About Motion Markets Broker
Is My Money Safe with Motion Markets?
There is no evidence that the money invested in Motion Markets is safe. The broker is unregulated.
When Were Motion Markets Founded?
The exact date of Motion Markets’ founding is murky. However, the broker’s website was first registered in 2020.
How Long Do Motion Markets Withdrawals Take?
There is no data available regarding the withdrawal process. However, given the broker’s dubious reputation, it is wise to avoid it.