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Mayfair Trade Online is a shady Binary Options and Cryptocurrency brokerage with no sense of professionalism. In fact, this brokerage has been lying that their business is backed by a corporation called Mayfair Trade Online Ltd.
There is no such company in the world. The closest name that we could find is Mayfair Trade Ltd, which is registered and located in 20-22 Wenlock Road, London, England, N1 7GU. This is not the same address found on the Mayfair Trade Online website. Therefore, it’s quite clear that this brokerage is not registered as it should be, and secondly, they are lying about their location.
The reason that this investment brokerage is lying is because they know that it’s illegal to operate an unlicensed investment brokerage. They also know very well that for them to get a license, regulators will seek to know where their company is operating from.
But we now know that this is a mere website with no company behind it. And we also know that they don’t have a specific location from which they operate from.
Based on these two findings, there is no way that Mayfair Trade Online can prove to us that they are not a scam. Moreover, the website is filled up with other red flags which we are not about to ignore yet.
So, what exactly is this all about and why should you avoid this website like the plague? The answer lies in this Mayfair Trade Online review.
Although they are operating like an investment brokerage, a lot of things are still missing out of this website. For example, the site doesn’t make it clear what their minimum investment is, deposit and withdrawal limits among other things.
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The only information available on this website is that they are an investment brokerage dealing in Binary Options, Cryptocurrency trading, Stocks, Indices and so on.
Some records indicate that this brokerage is owned by an entity called A F Bauer from Austria, and is based out of London. We are not sure how accurate this information can be. One thing you should understand is that this website is making our job extremely difficult.
They are not revealing the owner of the company, their employees or everything else that relates to their operation. The client is supposed to guess for themselves if they want to find out more about Mayfair Trade Online.
Another problem is that Mayfair Trade Online is very new to this industry. Having been registered in February 2018, we don’t think this website is old enough to have acquired any substantial reputation.
However, there are certain red flags on it which actually indicate that Mayfair Trade Online is a high risk investment brokerage.
A cheap design is one of the things you will notice on this website. The site admin just uploaded a generic template and started a brokerage business without proper documentation or thought. That laziness is now beginning to cost them a reputation. How can we trust Mayfair Trade Online if the anonymous owner is not willing to spend money on a decent site design? Will we have the necessary confidence to send money to their bank accounts?
Definitely there is something else to this website. The ultimate goal would be to lure traders into the trap so that the anonymous owner can further align their profit. First of all, there is no evidence of a trading platform ever existing on this site. Claims that Mayfair Trade Online is investing in the aforementioned assets cannot be verified either. We are not so gullible such that we can easily fall for such a cheap scam.
Someone deserves a jail term for misleading investors in the name of running a reputation brokerage business. You see, trading of Binary Options is now regulated both in Great Britain and in Austria.
The reason Mayfair Trade Online is breaking the law is that any brokerage that is either based in these regions or are targeting clients from either of the two regions must seek licensing before moving into business.
Ideally, Mayfair Trade Online ought to have sought licensing from both the FCA and the FMA of Austria. Unfortunately, these guys don’t operate with any form of licensing. That is illegal and only proves that they are a scam or are at least looking for ways to play an unfair game towards their customers.
As we have mentioned before, Mayfair Trade Online is not giving its visitors enough information. However, the little information that’s available on their site suggests that this brokerage is not transparent with their dealings.
It also appears that they are giving some kind of bonus to their customers. This is supposed to act as trading bonus. In the EU, this trading bonus is illegal. But Mayfair Trade Online is claiming to give traders bonus anyway.
Let’s make this clear. The reason trading with regulated brokers is much better is because they don’t have an option but to follow rules that are set forth by the regulators. Client funds are always insured regardless of whether or not the broker wants it. They are forced to follow certain practices. That means client funds will always be safe. However. with an unregulated broker like Mayfair Trade Online, your money is not protected at all. You are on your own.
After going through all this, we can conclude that this broker has a second agenda which most innocent traders don’t know about.
The agenda will definitely work against you because this broker has set grounds for not taking any responsibility for your losses.
Also, we should really not trade with anonymous investment brokerage which are not even backed by a corporation.
Mayfair Trade Online is a scam broker. There is no question about it. If they don’t have any form of licensing, it means that investors will be risking their funds. From this point moving forward, we advice that traders should use these brokerage companies instead.
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They have resurfaced as Digital Gold Xchange
Same people, same scam.
Watch out!
They also have a new company called Citibank
Unfortunately I have been a victim of this organisation. AFBauer claim to be Mayfair parent organisation. They also use GetCoPro trading. These businesses have stolen everything from me in what started as quite a sophisticated scam but once they had as much as I had they were quite ruthless and blatant about ripping me off and disappearing.
I have been Scammed 148,000$ by MAYFAIR trade online
I have been scammed by digital gold xchange for £65000. Can any body help me thanks marc
Mate these bastards scammed me in 2018. I fell for it. I am sorry to hear of your loss.
I have been Scammed 148,000 $ by MAYFAIR Trade online can anyone help me on this
MAYFAIR FINANCE AND MAYFAIR EXCHANGE WARNING THIS BUSINESS IS SCAMMING PEOPLE PLEASE DO NOT INVEST YOUR CASH IN THIS COMPANY