Milliva (milliva.com) is offering traders leverage of 1:500. Such high leverage is unacceptable in the trading world. You also get to invest and trade with an unregulated platform. Yes, Milliva doesn’t comply with the industry regulatory framework. And this makes Milliva a high-risk investment platform. You should avoid such platforms as they rarely offer investors a genuine investment strategy. Learn more in our comprehensive MILLIVA REVIEW.
The platform claims to make your trading experience better. Milliva, just like any offshore trading platform, will do or say anything. In this case, the platform even welcomes you with a 50 percent welcome bonus.
You also get a promise of trading on a secure trading platform. The only safe feature we found on the platform is the MT5 trading terminal. However, despite having a world-class trading platform, withdrawal is a major problem.
For the past few weeks, members have been facing withdrawal delays. Some even claim the platform has already deleted their accounts. And this means losing the funds that were available on the platform.
Efforts to contact the platform have fallen on deaf ears. The platform rarely responds to its plea of releasing funds. And we must expose the red flags we found to protect naïve investors from falling for this trap.
When investing, you should go for proven investment strategies. Go for platforms with a reputable track record. It would be best if you also considered signing up with groundbreaking investment solutions. These include Coin Staking, DeFi, and Masternoding.
Your first step in determining which platform to choose is doing due diligence. Try and find out what others are saying about the platform in question. We suggest reading our reviews in matters relating to crypto and forex investing.
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Milliva offers five different account types on their MT5 trading platform. These include Standard, Islamic, ECN, Islamic Special, and VIP ECN. Each of these accounts comes with a different feature for all classes of traders.
Let’s take a closer look at these accounts;
With the standard account, this is best suited for beginners and newbies. You have to make a minimum deposit of $100 to get started. Spreads start from 2 pips, and there is no commission with this account.
For the Islamic account holder, the minimum deposit is set at $500. Leverage for the Islamic account is set at 1:300. The stop-out level for all accounts is set at 50 percent and 100 percent for margin calls.
There’s a minimum allowed deposit of $1,000 with the ECN account. Spreads start from 1 pip with the leverage set at 1:200. There’s a commission of $5 per trading lot with the ECN account. Unfortunately, Swap-free is not available with this account.
You have to deposit $1,000 with the special Islamic account. Spreads start from 2 pips, with members enjoying no trading commissions. Leverage for this account is set at 1:300, with the minimum trade lot size set at 0.01.
Investors have to deposit $5,000 with this account. Members enjoy $5 in commissions, and the leverage available is 1:200. Unfortunately, Swap-free is not available on this account. There’s a demo version on all these accounts available when you sign up.
We have to mention the high leverage that comes with these accounts. The platform puts the minimum leverage at 1:200, with the maximum leverage set at 1:500. It’s not in line with the industry’s leverage.
High leverage means you risk losing a lot of funds with the platform. And this is why regulators had to put a lid on maximum leverage. For example, in Europe, the maximum leverage is set at 1:100. On the other hand, retail traders in the US have to enjoy maximum leverage of 1:50.
The platform also avails an affiliate partnership to help foster growth. Before you sign up with them, you need to know the facts. The platform doesn’t pay affiliate members. Most affiliates have already listed the platform on their blacklist.
You will face the blame when investors start getting withdrawal delays. You will likely lose your reputation for directing investors into a burst trading platform. Once investigations are complete, you will be seen as an accomplice to online fraud.
Your funds are far from safe with a platform that fails to comply with regulations. In addition, insurance cover for deposits made by investors is not available.
There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. All these assets enjoy a maximum volume per single trade of 100,000,000 units.
With the high leverage set, traders are bound to make huge losses. The platform will greatly benefit from the losses. Some of the commodities we found include cocoa, sugar, wheat, and more.
You get to trade with leading crypto coins such as Bitcoin, Ethereum, and Ripple. Forex trading is at the heart of their operation. The platform avails major and minor currency pairs for trading in all markets.
Traders also get the chance to own stocks of leading companies for a short period. Some of the available stocks include those of the FAANG group. These are seen as some of the most tradeable stocks in the market.
There’s a 50 percent welcome bonus available when you sign up. It means the platform will fund your account with half of your deposit amount. However, regulators have warned investors and traders from investing with such platforms.
Avoid platforms that offer bonuses and commissions, such as milliva.com. The platform will use the bonus and commission to ask for more funds. You won’t get to withdraw funds unless you comply with their misguided rules.
And this is why regulators want to ban any platform that offers a welcome bonus. But, unfortunately, these bonuses end up hurting the very same clients they were meant to help. So instead, it’s best to go for a transparent platform and follows guidelines.
Information on who owns or runs the platform remains a mystery. There’s no information about the CEO or CFO of the platform. We don’t even get a message from the founder of the platform. And this points us to an anonymous investment and trading platform.
It would be best if you avoided anonymity at all costs. There’s no way of recovering funds from an anonymous investment platform. So it’s best to avoid them and instead use transparent investment platforms.
Despite the platform claiming to offer live chat support, it’s not the case. Instead, the platform opts for a message dashboard where users are to leave their messages. You also get to leave your contact details and wait for the platform to call you.
The platform accepts Bitcoin as the only crypto payment method for funding accounts. Other depository channels include bank and wire transfers. We don’t recommend you fund any account on the platform.
Withdrawing funds from milliva.com is a major problem. No member has made any withdrawals for the past few weeks. Moreover, those that claim to do so refuse to post images of their withdrawals. And these make them part of the cover-up.
Milliva is not a licensed or regulated platform. Please stay away from anonymous and unregulated trading platforms.
It’s probably one of the few best things about the platform. You get to trade with a world-class trading platform.
The best way to stay safe is to avoid any interaction with milliva.com.
You can instead opt for proven investment strategies. These are some of the best investment decisions you can make. Try coin staking or Masternoding for a change.
If you have any queries, feel free to contact us.
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