MexFund Review: Cruel Offshore Broker

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MexFund Review: Cruel Offshore Broker

MexFund is an offshore broker disguising itself as a legit online trading platform. Beware of these offshore brokers as is already facing serious allegations from consumers. What investors don’t know is that the platform is potentially a global scam. With the signup process asking for personal information, you should be wary of this platform. We have concrete evidence to prove that this platform is a hoax. Read this entire post and find out the truth about Mex Fund Review.

MexFund Review

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About MexFund

MexFund is claiming to adhere to the business philosophy of ensuring fairness and safety. These are false assumptions as, each day, more and more victims air out their grievances. The disclaimer at the footer of their homepage says a lot about their origins.

Mex Fund is located in the Marshall Islands, an ideal hotspot for scam brokers. These brokers don’t want a regulatory oversight and thus, choose offshore locations. Your funds are not safe with an offshore broker.

What these scam artists have done is come up with an aesthetically appealing website. Most newbies will not think it through and will immediately fall for the design. Before anything else, make sure to read our reviews for information on all brokers.

We ensure that the online community is kept aware of the brokers in the industry. Reviews and conducting research will give you an idea of what to expect with a brokerage firm.

Affiliate program

Even the affiliate program on their website is a burst. There’s no way you will get paid for affiliating with the broker. On the contrary, you will face the wrath of victims. After getting people to sign up with a fake broker, they will turn to you for answers.

An affiliate platform has already singled out this broker as a non-payer. Ensure you stay away from their affiliate program or any of their promotional materials.

Bonus and promotions

One of the first issues we spotted with this unit is their welcome bonus. The industry tries to play down the repercussions of these bonuses. Regulators, on the other hand, warn investors against signing up with these bonuses. When withdrawing your funds, bonuses will be used against the member.

Most scam brokers will demand you deposit the same amount of bonus before allowing any withdrawal. Even if your account has the balance to cover the bonus, they ask for a new deposit.

Comments and feedback from investors

There’s no love for this website as more and more members continue to expose the scam. Debra was one investor who took to social media to highlight her case. The broker has been blocking access to her funds.

After depositing $1,000 with the broker, she decided to withdraw $500 due to a personal emergency. Five months on, she hasn’t heard from the broker nor able to withdraw her funds. And this is the pain Debra, and other members are facing with MexFund.

MexFund Bonus and Promotions

License and Registration of MexFund

MexFund is not a broker with valid license and registration credentials. Offshore brokers don’t bother with regulations that put members at risk. There’s no security of funds, and this is the problem facing Debra and other victims.

Even the website does not have any information on the license of the platform. A real broker would have copies of their license details available for all to see. We don’t have their license number, even if they reside in the Marshall Islands.

Without a valid license, it means the broker has not been honest to members. A broker should deposit the minimum amount to start a brokerage firm. The amount varies in different jurisdictions.

Brokers must deposit this amount as insurance to protect members from bankruptcy or insolvency. Without the deposit, members are joining a platform with no security cover. If the broker decides to close the shop, members won’t receive any refunds.

Problems facing MexFund Members

Account tiers

MexFund Account types

MexFund is furnishing members with two account types to choose from. These two accounts include Standard and Pro. All members get the same maximum leverage of 500:1, which is unfair to members.

Another problem is the minimum deposit which stands at $1,000. The industry clearly stipulates the minimum acceptable deposit is $250. Members are depositing a large amount to an unknown and unproven broker.

Contact and support

Members don’t get the much-needed attention from an offshore broker. Debra is an excellent example of why this is not the broker of choice. She has been trying to contact the broker for over four months with no response.

We also did try the same but got an automatic response from the email address on their website. Please stay away from the broker as there’s no way of proving their existence.

Demo account

There’s a demo account available for members once they choose to invest with the broker. The demo account seems to be making a 90 percent profit which is a telling sign the demo is a fluke. These brokers will try and rig the demo results to indicate a profitable venture.

It helps drive more investors into believing that this is a legit platform. Stay away from the platform, as there’s no need to lose your hard-earned money.

Deposit and withdrawal

Depositing funds with this investor is easy and takes less than five minutes. The depository channels include MasterCard, Pay Trust, Visa, and others. There’s also an Asian payment option which suggests the broker also targets the Asian market.

Withdrawing funds with Mex Fund is the biggest headache facing members. No evidence suggests that a single member has made withdrawals with this brokerage firm.

Trading Platform

It seems the broker is using MT5 as their trading terminal. Investors should note that the terminal is available for free. You have to download it and start using it on any device. We had to ask Debra for a screenshot of the trading terminal she has been using.

What we say is clearly a custom-made platform that doesn’t resemble MT5. It lacks essential trading features and tools that aid newbies with trading.

Safety of funds with MexFund

Payment Options Mex Fund

There’s no safety of funds with a broker who is offshore and lacks a proven license. With the issue of safety out of the way, there’s no need to sign up with the broker. Your funds are at risk as the broker might decide to shut down due to the public outcry.

Scam or legit MexFund

MexFund is a scam that is waiting to pounce on unsuspecting investors. Please stay away from the platform or become their next victim. There’s no way this platform registers winning trades as there’s no proof of it.

Our Verdict

We won’t be recommending a platform that does not have a valid license. Investors should stay away from it and look for other convenient options.

A sure way of profiting from online trading is having the best broker by your side. Sign up with experts who have years of trading experience.

We wish every investor a successful trading experience.

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