In the world of online trading, it is crucial to distinguish between legitimate brokers and fraudulent entities. One such broker that has garnered attention is MTFE Trading.
In this post, we will be doing an MTFE Trading review and will examine its legitimacy and uncover the truth of whether MTFE Trading is real or fake.
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What is MTFE?
MTFE Trading, also known as Metaverse Foreign Exchange Group, is a mobile platform that allows investors to trade various financial assets using automated artificial intelligence.
The app is available for both Android and iOS devices and offers a range of features that make it an attractive tool for investors. In this review, we will take a closer look at MTFE and evaluate its legitimacy as a broker.
MTFE offers a range of trading options. Users can trade currencies on the Forex market, commodities, indices, stocks, and cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, Polkadot, Bitcoin Cash, and BNB. T
he minimum deposit is $25.
MTFE claims to be a regulated broker authorized by Fintrac, which is the Financial Transactions and Reports Analysis Centre of Canada. However, upon further investigation, it becomes clear that this claim is misleading.
Fintrac is not a regulatory body for brokers or financial companies. Its primary role is to facilitate the detection, prevention, and deterrence of money laundering and the financing of terrorist activities.
The MTFE app has around 1 million+ downloads on Google Play Store and the domain Mtfe.ca has around 170k+ monthly traffic.
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|MTFE (Metaverse Foreign Exchange Group)
|Domain registration date
|12 December 2021
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Based on our report and user review, it is found that the platform is not trustable. However many users gave a positive review about MTFE but still there are some major red flags to consider before investing in MTFE Trading.
- Lack of authorization or proof of regulatory approval
- Misleading claims about the regulatory status
- High-risk investments or schemes
- Suspicious and unregulated trading practices
- Lack of transparency in operations and fees
- Poor customer reviews on Trustpilot
- Ponzi scheme model
- Lack of transparency in the broker’s ownership and management
These all red flags suggest that one should stay away from this scam.
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From Which Country MTFE is Operating?
MTFE is based in Ontario, Canada.
Is MTFE Trading legal in India?
No, MTFE Trading is not legally authorized to operate in India.
Is MTFE Trading safe?
no MTFE Trading is not safe for investment. There are numerous red flags about this platform.
Is MTFE Trading Real or Fake?
No, MTFE Trading is not legitimate. However, the platform is still paying and operating without any fraud warning.