Is MetaTradeFirm A Good Broker or a Scam?
MetaTradeFirm asks for a huge minimum from clients–an atypical $1,000. Many brokers demanda minimum of $100 but some clients may not mind this if they plan on trading $1,000 anyway. In addition, this broker promises huge returns of 20% to 100% depending on the size of the deposit. This is unrealistic and shouldn’t be trusted. Brokers can’t reliably guarantee these types of returns. In addition, clients are allowed to fund their accounts only with cryptocurrencies.
We Have Some Concerns with MetaTradeFirm
Even if people aren’t deterred by the high minimum, they should be taken aback by the fact that MetaTradeFirm is unlicensed. There is no reason to trust a broker that is unregulated, particularly one that claims to guarantee double-digit returns. The problem with requiring funds be funded only with digital currencies is a way that this broker can get away with anonymous, unregulated transactions and is a red flag.
MetaTradeFirm Red Flags
- No license
- False guarantees
- Accepts only cryptocurrencies
- High minimum
- No transparency
- Negative reviews
Lost Money to MetaTradeFirm? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid MetaTradeFirm and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.