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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

MTFE

Canada|2-5 years|
Suspicious Regulatory License|High potential risk|

http://www.mtfe.ca/

Website

Rating Index

Contact

http://www.mtfe.ca/
500-7030 WOODBINE AVE MARKHAM ON L3R 6G2
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

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Company Name

MTFE Group

Abbreviation

MTFE

Platform registered country and region

Canada

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 5
Previous Detection : 2024-11-02
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • The number of the complaints received by WikiFX have reached 21 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The AustraliaASIC regulation (license number: 001276870) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

MTFE · WikiFX Survey

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MTFE · Company Summary

General Information

MTFE (METAVERSE FOREIGN EXCHANGE GROUP INC) is a Canada-based financial institution, providing access to a range of financial markets, including Forex, Commodities, Indices, Stocks.

Regulatory Details

MTFE (METAVERSE FOREIGN EXCHANGE GROUP INC). companies provide services in accordance with local regulations and have their own licenses and licenses to operate services. MTFE is regulated by the Canadian FINTRAC - Money services business. Authorized Regulatory Authority (MSB). (No.: M22076570) provides corresponding financial services to professional and institutional clients.

Market Instruments

MTFE does not provide any advice or opinion on the purchase, holding or sale of its trading products. All products this broker offer are OTC derivatives based on global assets. All Services provided by MTFE are based solely on execution of trading orders.

With MTFE, investors can get access to the following financial markets:

  • Forex currency pairs

  • Commodities

  • Indices

  • Stocks

  • Cryptocurrency

Account Types

MTFE fails to provide various tiered account options, only a live account and a demo account available. You have to admit that free training account plays a vital role in making you get familiar with this platform, practice your trading strategies without risking your real capitals.

Trading Volume

Trading particular instruments on MTFE on this platform, you need to figure out its minimum and maximum trading volume. Here is what MTFE sets: minimum transaction 0.01 lot, maximum trading transaction 20 lot. Trading hours varies depending particular trading assets.

Spreads & Commissions

Believe or not, spreads offered by this MTFE is much higher than many other brokers, and thats the reason why we suggest you to choose a better alternative.

spread-comission

Trading Platforms Available

However, lack of MT4 or MT5 trading platform makes this broker less reliable, overall. What this broker provides is their proprietary trading platform that can be downloaded on any devices, including IOS, Android, and Web devices.

Deposit & Withdrawal

MTFE leaves us nothing concerning payment methods supported, only one promise: Withdrawal request will be processed quickly, and funds will be deposited into your bank account immediately.

I Would say it is weird for a broker to do so.

Customer Support

MTFE seems to offer 24/7 multilingual customer support, which can obviously stand out among many competitors. I tested its online chat support, and their customer support staff did have a good performance, answering my questions responsively and professionally. More diversified contact channels, like phone, email, social media platform, etc, are not available.

Restricted Regions

Please note that MTFE doesnt accept traders from the United States, Belgium, Iran and North Korea.

News

CHARITY: MTFE BD TEAM MTFE Group distributes supplies to depressed and needy people

NewsCHARITY: MTFE BD TEAM MTFE Group distributes supplies to depressed and needy people

2023-03-10 17:15

On March 7, 2023, MTFE’s Bangladesh team will distribute supplies to local "depressed and needy people" in Bangladesh. The slogan is "MTFE Group is always with the world's depressed people". 

WikiFX
2023-03-10 17:15
News
CHARITY: MTFE BD TEAM MTFE Group distributes supplies to depressed and needy people
MTFE Nigeria Guideline

NewsMTFE Nigeria Guideline

2023-03-09 01:52

​Recently, MTFE has been sought after by many people in Nigeria. It is reported that the group started its globalization strategy in June last year, and has established more than 100 offline operation service centers in more than 20 countries around the world.

WikiFX
2023-03-09 01:52
News
MTFE Nigeria Guideline
MTFE is gaining its popularity in Bangladesh

NewsMTFE is gaining its popularity in Bangladesh

2023-02-28 22:09

Combining its AI technology with real-world financial trading

WikiFX
2023-02-28 22:09
News
MTFE is gaining its popularity in Bangladesh
MOBASSHER IBAD, CEO OF MTFE DUBAI, ATTENDS THE NEW MTFE OFFICE LAUNCHING PROGRAM AT ROLEX TOWER

NewsMOBASSHER IBAD, CEO OF MTFE DUBAI, ATTENDS THE NEW MTFE OFFICE LAUNCHING PROGRAM AT ROLEX TOWER

2023-02-14 16:28

On February 14, someone associated with MTFE released a video on YouTube. In this video, we can see that the forex broker, MTFE, launched a new office program at Rolex Tower, Bur Dubai. The CEO of MTFE Dubai, Md. Mobassher Ibad, has attended this new official launching ceremony program.

WikiFX
2023-02-14 16:28
News
MOBASSHER IBAD, CEO OF MTFE DUBAI, ATTENDS THE NEW MTFE OFFICE LAUNCHING PROGRAM AT ROLEX TOWER

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