Mycoinology Review: Unregulated Shady Company

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Mycoinology Review: Unregulated Shady Company

Mycoinology is a venture that increases the income of investors through diversifying client streams. The company states that it has professional managers who contribute to its success. They offer support and financial support to traders. However, this is an offshore firm.

The entity is allegedly using the latest technology in the industry. Additionally, the firm executes trades fast and has a tight spread. The company brags that it has high-quality trading tools. The broker is accepting both novice and expert traders on their website.

Mycoinology assures investors they will have a great outcome. The only thing which you need to do is to trust the firm with your funds. The company allegedly has high security and responsive support. You only need to deposit a minimum amount of $250.

Investors can open trade with a minimum amount of $20. The firm assures traders to help them build a solid portfolio. You can, therefore, expand your portfolio in a short duration. However, you will not earn from this broker.

The entity states that they avail real-time market data. Therefore, you will never miss an opportunity with this shady broker. However, this is another tactic that scammers utilize. You might find that the company is not offering any trading activities. Review

Mycoinology is a platform that is allegedly dealing with Stocks, currencies, commodities, cryptos, stocks, and indices. The entity provides three investment accounts to their clients. The platform spread ranges from 1.0 pips and 0.0 pips.

They require personal data like email addresses, physical addresses, and phone numbers. Then you can select the account which you desire. It is unwise to trust a suspicious broker with your information. They can use the data against you in whichever way they please.

Mycoinology Review, Mycoinology Company

Ponzi scheme enters and exits the market at their own convenient time. Therefore, once they come back using a different name, they will keep calling. Mycoinology uses an anonymous web trader platform to trade.

Moreover, the trading broker platform is available in mobile apps and desktop. The entity is only after traders’ funds. You will not get the lucrative rewards that the offshore firm promises. There are multiple alternatives that you can use to generate returns.

Invest with legit forex trading brokers that have in use for years. You will earn real-time returns while you keep watch of your safety.  You have nothing to worry about with a regulated entity.

Mycoinology does not have popular MT4 software. Traders who are used to the beautiful features of this system will find this company worthless. It allows clients to execute trade fast and has an excellent interface.

Mycoinology Trading Conditions

Mycoinology has enticing offers for its clients, which are irresistible. The company states that it has competitive offers for their customers. The figures which they provide seem manufactured and unrealistic.

The entity is offering a spread of 0.2 pips, which might be tempting to newbies. However, keep in mind that the losses could be huge as well. Most of the time, scam never attain the returns which they avail.

The leverage of Mycoinology is following the financial regulatory body estimation. The firm provides a cap of 1:50. The firm is operating against the law, and this could be their tactic of covering their traits.

Withdrawal and Deposits

As we had mentioned earlier, this broker accepts a minimum amount of $250. The entity is accepting funds via bank transfers, debit cards, and e-wallets. However, these methods are not what this broker accepts.

If you sign up, you will find out that the entity accepts money with iPayTotal, and NeoBanQ. Scammer commonly uses them in the market. It makes perfect sense because you cannot issue a chargeback.

Mycoinology charges a considerable amount to their clients. You cannot issue a chargeback with this entity. You will only be scammed, and there is nothing you will lose. If you a

Customer Support

Mycoinology claims that it has excellent customer support. Clients can contact team 24/5. You can get answers to your query within a short duration. You can contact the firm via email or telephone number.

However, the firm is not legit. You will never get a response once you lose money. The only thing that you will get is cold treatment from their salesmen. The entity is only after making the people behind the rich.

Scammers have terrible unethical support. Legit companies will treat you professionally. Additionally, you are also certain that your query will be attended in time. Protect yourself from losing funds by engaging with a licensed platform.

Mycoinology Regulation Status

The company contradicts the information which it avails on their website. Therefore, it is hard to pin the location of this scam. The venture is 100% anonymous, which increases our suspicion about the firm.

The telephone number which they provide shows the company is based in the United Kingdom. However, the terms and conditions of this shady broker show they are observing the Estonian law. There are several laws that this entity is breaking.

Since Mycoinology is accepting clients from the UK, they need to be licensed by the FCA. Unfortunately, after checking this platform in this financial watchdog database, we did not find them. The unregulated broker assures investors their account balance will not exceed zero.

In case this broker faces insolvency, you will end up losing money. The firm has no compensation scheme in place. Moreover, they do not segregate investors’ funds. It means that this broker can use their clients’ money for their purposes.

The discreet investment company is an outlaw that does not observe any of the set guidelines. Dealing with them will not grant you fund safety. No benefit will come from investing in this shady venture.

The Domain Insight is a company that was launched in September 2020. The entity is only registered for a period of one year. The information of the founder and the team is hidden from the public. The firm has low traffic, which shows that not many people are interested in their services.

Final Verdict

The entity is a scam that is trading on its own accord. The company does not have many details regarding its trading activities. Mycoinology is operating in an anonymous. Therefore, there is nobody who can go after them.

The spread which this broker offers is outrageous. There are better companies in the market which you can use. Invest with legit forex trading brokers that have a history in the market. Do not risk the safety of your information with a scam entity.

Stay on the lookout as the market is plagued with multiple scammers. They are only after the money of naïve investors who believe in the fantasy of getting rich overnight. Ensure that you research before investing to avoid being scammed.


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