Investors always try to gain high returns with minimal risk. In this quest, many come across scamming platforms. One such online platform that has attracted investors and traders is Metro FX-Trading. This Metro FX-Trading review aims to provide a comprehensive analysis of the platform, highlighting crucial aspects every potential investor should consider.
Website – https://www.metrofxtrading.com/
Website Availability – Yes
Address – 561 Montgomery St, Jersey City, NJ
Blacklisted Status – U.S. Securities and Exchange Commission (United States)
Domain Age –
- Domain Name: METROFXTRADING.COM
- Registry Domain ID: 2710968517_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.ownregistrar.com
- Registrar URL: http://www.ownregistrar.com
- Updated Date: 2024-05-13T22:09:15Z
- Creation Date: 2022-07-14T13:26:18Z
- Registry Expiry Date: 2024-07-14T13:26:18Z
The US-based company Metro FX Trading makes a false claim to be owned by the NASDAQ-listed StoneX Group Inc., which also owns the respectable forex and CFD brokers Gain Capital and Forex.com. That being said, StoneX Group Inc. is unrelated to Metro FX Trading. Furthermore, the website falsely states that it is based in the United States of America. This is a deception that is made clear by the fact that it is not included in the National Futures Association (NFA) registry, which lists all reputable US brokers as Future Commission Merchants (FCMs). Due to its lack of regulation and failure to provide customers with the protections required by financial authorities, Metro FX Trading puts them at greater risk.
Metro FX-Trading: Scam or legit broker?
When analyzing a broker, the first step is to identify whether it is a fraud or a legitimate business. Metro FX-Trading Broker has received conflicting feedback from the trading community, raising concerns about its credibility. Some consumers report positive experiences, while others express significant concerns about their activities.
Transparency in their dealings, customer support availability, and withdrawal simplicity are all important considerations. Unfortunately, Metro FX-Trading Broker has been recognized for providing inconsistent customer care and delaying withdrawals, both of which are frequent red flags for scam brokers.
Is Metro FX-Trading Broker Regulated by the Major Financial Regulator?
Regulation is a primary indicator of a broker’s validity. Regulated brokers must follow tight criteria and standards established by financial authorities, providing traders with an increased level of protection. Metrofxtrading.com Broker’s regulatory position is skeptical at best.
The regulatory authorities for Metro FX-Trading Broker do not include major financial regulators such as FCA of the United Kingdom, ASIC, or SEC of the United States. This absence of oversight by recognized agencies severely undermines the broker’s credibility and raises concerns about the safety of funds deposited with them.
User Complaints and Warning Signs
User evaluations and complaints might provide vital information about the broker’s operations. Numerous complaints concerning Metro FX-Trading Broker indicate a pattern of questionable activity. Some common difficulties mentioned by users are:
- Having difficulty withdrawing cash.
- Lack of transparency in charges.
- Poor customer service and unresponsive help.
- Unexpected account closures
These warning signals point to potential risks while interacting with Metrofxtrading.com Broker. Traders have also reported aggressive marketing methods and pressure to deposit higher sums of money, which are common practices among scam brokers.
Risk Warning on Metro FX-Trading Broker
Trading with an unregulated or badly regarded broker, such as Metro FX-Trading Broker, has substantial risks. The primary risks are:
- Loss of Funds: Without proper regulation, there is no guarantee that your assets will be secure. In the case of the broker’s bankruptcy, collecting your funds may be impossible.
- Fraudulent Activities: Unregulated brokers can manipulate trading platforms, resulting in false losses for traders.
- Data Security: Unregulated brokers may not follow strict security protocols, putting your personal and financial information at risk.
It is critical to thoroughly consider these risks before registering with a broker like Metro FX-Trading.
Metro FX-Trading Review – Conclusion
In conclusion, our Metro FX-Trading review identifies multiple red flags that indicate this broker may not be a reliable alternative for traders. The lack of oversight by major financial institutions, numerous customer complaints, and clear warning indicators all lead to the potential that Metrofxtrading.com Broker is a scam.
Victim of Metro FX-Trading Scam? Contact Broker Scan
If you believe you have been defrauded by Metro FX-Trading or any other scam, report it immediately and seek help from Broker Scan. Our team specializes in assisting victims of online fraud. Contact Broker Scan today to start the recovery process and get the support you need.
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