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MetaProTrader (Metaprotrader.com) is another broker who has been banned by a number of regulatory bodies. Meta Pro Trader is claiming to have an award winning technology that is unmatched. They claim to have a proprietary trading platform that has access to Commodities, Cryptos, Forex, and Indices. These are false claims made to try and sign up unsuspecting online investors and traders. Complaints have reached our help desk from aggrieved members. Read this genuine and honest METAPROTRADER Review for more details.
The broker claims to be a trusted provider with a clientele of over 5,000. They claim to have been founded in 1998 and this is according to their about us page. Scam brokers will do or say anything to try and make their platform appear legit. And this is what makes trading with this broker a problem. They insist on clients making hefty deposits and no trading ever takes place. And this is why newbies are recommended to trade with a reputable broker. With a reliable expert, traders are guaranteed of a safe trading experience.
MetaProTrader is claiming to have the best execution which is also another lie. With their custom made trading platform, members are facing slow execution speeds. And this is another reason to stay away as members lose money thanks to a flawed platform. They also claim to have experts who can set up offshore banking and corporate structures.
The homepage covers Bonds, Commodities, Forex, and Indices. A look at their about us page indicates the platform also offers Cryptocurrency trading. We are not sure which digital currency they offer as their terminal does not show any Cryptos. Most of the Bonds listed are from Europe such as Euro BTP and Euro BOBL. Commodities listed include, Corn, Crude oil, Gold, and natural gas. The currencies listed include Australian Dollar, Canadian Dollar, among others.
Meta Pro Trader Inc is the Company listed as the owner of this brokerage firm. There is not much information regarding the company on their website. It would have been ideal if the broker posted details of the owners. Naming the CEO or CFO gives credence to an online company. With no such information, it is safe to conclude MetaProTrader is an anonymous trading platform. It is best to stay away from anonymous online investment platforms.
A closer look at the domain register whois.net reveals the truth about their website. Metaprotrader.com is a website which was created on 1st October 2019. And it is best to stay away from this platform for security reasons. A broker who uses such information is trying to buy investor trust. Sadly, the plot has been uncovered and the broker is barely six months old. These are amateurs trying to steal from newbie traders.
MetaProTrader is not licensed or registered to offer any trading services. The broker has no valid license details to prove they are compliant. And this is one of the main reasons why investors should stay away from Meta pro trader. Without any license certificates or documents to show, these are online scam brokers.
Two regulatory bodies have also issued a warning regarding this broker. The first regulator to spot irregularities with the platform is the Canadian Financial watchdog. British Columbian Securities Commission (BCSC) urges traders to refrain using this broker. MetaProTrader has been claiming to have Canadian trading license which is far from the truth. CONSOB is another regulator which has issued a warning regarding this broker.
MetaProTrader is offering both fully managed and non-discretionary accounts. They fail to mention the features available on their account types or minimum required deposit. And this gives them leeway to impose any depository requirement they see fit. Traders should know the industry has set $250 as the acceptable minimum deposit. Meta pro trader will ask for a hefty sum to unsuspecting investors. Most of the victims have deposited over $1,000 with the broker as their initial deposit.
A closer look at their entire website reveals the broker does not give clear contact details. On their contact page, the broker leaves a message board where visitors send their queries. The entire website has no telephone number which is odd. With today’s advanced technology, the broker should at least give a working number.
MetaProTrader is not clear on the depository channels available on their platform. According to one of the victims, once members sign up, they receive depository details via email. For most of the members, this has not been the case. Those whose funds were reflecting could not also gain withdrawal access. And this is proof we are dealing with a scam.
The broker claims to have a team of experts who will help newbies with their day to day trading. After opening an account, a personal relationship manager will call members with trading instructions. Most of the time, they demand traders give up control of their trading accounts. And this is a clear indication we are dealing with a well-organized scam group.
MetaProTrader is claiming to have an advanced trading platform that is unmatched. And here lies the problem as their platform has not been tested by experts. The results are having an unstable platform with no security software. Lack of DDoS protection and SSL encryption is enough to scare any trader. Hackers can easily take advantage of this platform and steal vital data. And this is proof we are dealing with a rogue broker.
What is weird about the platform is they fail to protect even the website. Lack of any security software is visible which is a huge security risk. Meta Pro Trader is segregating funds in one account contrary to their claim. Members have been depositing funds straight to owner’s bank account. Members should not expect any compensation as the broker does not offer any compensation plan. And this is another reason to stay away.
After reviewing all the facts, it is clear MetaProTrader is a scam. Stay away from the broker as they fail to have a valid trading license. With two regulatory bodies already issuing a warning, traders should stay away. Concerned authorities should investigate and completely shut down the website. It is the only way to protect unsuspecting online investors. Mark their emails as spam and don’t click on any of their promotional links. Warn your family and friends from joining their affiliate programs.
Ensure you stay away from this broker and use recommended trading products and services. A sure way of making money with digital currency trading is by using approved experts. Go for reliable brokers for a safe trading experience.
Continue reading our reviews for more information on the online trading world.
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