Is MDBMarkets Reliable Broker? A Detailed Review of mdbmarkets.com

Many brokers now offer their services online, leading to a surge in the popularity of trading as a way to earn money. To start making real profits from trading, one needs to study a vast amount of information, but it is not as difficult as it might seem at first glance. Unfortunately, all efforts can be in vain if you deal with a scammer, as such platforms do not pay out money, using various excuses or simply blocking the account. In this MDBMarkets review, you will find out which category this broker belongs to.

Is MDBMarkets a Trusted Platform?

If you have previously dealt with fraudulent organizations, you probably noticed that they have template websites with almost zero useful information. MDBMarkets is no different, as the project administration also decided not to invest in the platform’s design and simply copied everything possible from another company.

Special attention should be paid to the list of advantages published on the main page. The company owners are confident that the 1:200 leverage will be a significant argument for traders to register, although most regulators prohibit the use of such high leverage. If you want to get rich quickly, it is still not worth the risk of trading with borrowed funds, as the broker will never operate at a loss, and your chances of success are extremely low.

If you do not plan to deposit $250 on the platform, you might as well not register. The broker has set a high deposit limit, which is unsuitable for beginner traders. The company is clearly aimed at deceiving wealthy users. Next, consider the cost of account types. Like any other fraudulent organization, MDBMarkets provides no information about the available features in the account, and the most basic account requires a minimum deposit of $5,000. Managers are very intrusive and always force traders to deposit large sums of money, explaining that this is the only way they can finally start trading profitably. In reality, clients will lose their last money.

The broker has no license. Apparently, no regulator has allowed this company to operate, and fraudulent brokers never get licenses as they do not meet the established requirements and restrictions. The footer states that the managing company is called Red Carpet Ltd. and the addresses point to Cyprus. However, there is no such company in the Cypriot registry, only Red Carpet Promotions Ltd., and it is definitely not a broker. The broker’s documents even state that all relationships with traders are governed by the laws of Saint Vincent and the Grenadines. However, there are no matches for the name in this registry either. It turns out that MDBMarkets is not registered anywhere.

Concerned About Withdrawal?

As we mentioned earlier, the minimum deposit amount on the platform is $250. It is impossible to make a payment for a lower amount, which is extremely inconvenient. Deposits can be made using bank cards and cryptocurrency, but the exact information about the set commission can only be obtained after creating an account. Clients complain about the inability to withdraw funds from the official website.

How Long Does The Broker Work?

The project started in May 2024. It has been operating for only a few weeks and has no history.

We strongly recommend against cooperating with companies that lack proper experience. Their staff will not be able to provide accurate recommendations regarding market changes and will most likely give advice that will cause your deposit to go negative.

Other Signs of Fraud

❗In the user agreement, the broker completely absolves itself of responsibility for the security of traders’ personal data. It assures that users are solely responsible for their personal information and must report to support in case of hacking. However, operator never respond to such messages and completely ignore them..

❗Bonus program. There is very little information about a bonus program on the official website, but if you open the documentation section, you can find a file that outlines the conditions for receiving bonus funds. Almost all regulators have long banned bonuses.

❗No demo. All reputable brokers allow you to familiarize yourself with the trading platform beforehand. But not in this case.

MDBMarkets Review Conclusions

In this short time, MDBMarkets has not garnered any positive reviews. The company has not obtained permission to provide services and operates an illegal business.

➕Convenient and easy-to-navigate website.

➖The platform does not pay out funds.

➖The company does not have a license.

➖The project is only a few weeks old.

FAQ

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