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    Home » MainTrade Review: Caution to All Possible Investors
    Overview of scam broker MainTrade
    Fraudulent Brokers
    FinTopiAuthorBy FinTopiAuthorMarch 5, 2023Updated:June 14, 2023No Comments5 Mins Read

    MainTrade Review: Caution to All Possible Investors

    It is clear that MainTrade is a broker scam. It tries to deceive us that it is a regulated broker based in a global financial center. This is not true according to fact-checking. 

    There is only one purpose for this anonymous website: to scam inexperienced people out of their money. Let’s take a thorough look at this MainTrade review to see the signs that this is not a reliable broker.

    Leverage1:200 and 1:500
    RegulationNo
    Headquarters2nd Jubilee Place, London
    Minimum DepositN/A
    Review Rating1/5
    Broker TypeForex
    PlatformsWebTrader
    Spread1.5 pips

    Table of Contents

    • Regulation and Security of MainTrade
    • MainTrade Trading Platform
    • Account Types at MainTrade
    • MainTrade Offers Bonuses and Promotions
    • Deposit and Withdrawal Procedure
    • Best Forex Trading Brokers
    • MainTrade Summary
    • FAQs About MainTrade Broker

    Regulation and Security of MainTrade

    Here is where it gets interesting! MainTrade broker claims to be a registered business in the UK, authorized by Financial Services Commission. However, the Financial Services Commission in the UK does not exist. 

    The Financial Conduct Authority, also comprehended as FCA, is the authorized controller for Forex and CFD trading companies. If you check its databases, MainTrade is not on the record, implying it’s a big scam.

    Brokers regulated in the States, UK, the EU, and Australia are often particularly reliable. Such brokers are bound to report to some of the relentless economic authorities in the world. They are obligated to satisfy many conditions before acquiring a license.

    MainTrade Trading Platform

    After you check MainTrade’s trading platform, you will be surprised by the number of praises on their account. Allegedly, the software has achieved various prizes, among them for the best platform for margin trading and the best cryptocurrency trading platform. 

    Sadly, the truth is far from recognition. People can only trade on the essential WebTrader, since this mediation doesn’t approve access to third-party venues such as MT4, MT5, or cTrader.

    Tip: MetaTrader5 is available as a web application on top of its cutting-edge PC version. Using any browser, you can navigate to it. There is even a mobile application for the platform, available for Android devices. It’s too bad iOS doesn’t support it yet.

    Account Types at MainTrade

    This so-called broker has various account types. Let’s take a look at the below! 

    • Standard – leverage 1:200 and bonus up to 30%
    • Silver – leverage 1:400 and individual account manager
    • Gold – leverage 1:500 and bonus up to 100%
    • VIP – weekly meeting with a senior analyst, personal business plan

    Yes, these advantages may look tempting. However, you should find a legit broker with even better benefits. This is for your safety. The leverage goes against regulatory laws, and most administrations also have embargoes on incentives. Apart from that, these bonuses will cost you withdrawals later.

    Tip: Individuals and firms that market systems—like signal sellers or robot trading—oftentimes sell products that are not tested and do not yield profitable results.

    MainTrade Offers Bonuses and Promotions

    There are alleged bonuses. MainTrade offers a variety of bonuses for each trading account, as you may have seen previously. 

    MainTrade has a 30-100% deposit bonus with unknown compensation terms. Everything about this broker is shady. After all, you should stay away from it, no matter how tempting the bonuses may be.

    Tip: It’s wise to leave negative MainTrade reviews online. This stops the spread of brokers involved in scammy trading activities. Also, seeing complaints about the broker helps narrow the list of cyber fraud targets.

    Deposit and Withdrawal Procedure

    Deposits at MainTrade are only possible through payment processors that are either entirely unknown or scammy. This is a big red flag. 

    Legitimate brokers generally offer traders a wide choice of transparent payment methods. That is a fact! This includes bank transfers, bank cards, and time-honored e-wallets such as PayPal, Skrill, Neteller, Advcash, or GiroPay.

    MainTrade broker does not deliver precise data on fees for any transaction. There is a significant annual administration fee of $100. Inactive accounts are billed $50 a month. Regulated brokers do not charge those fees or the amount is vastly lower.

    Note: What if you get scammed? You have a right to call for a chargeback. Yet, this likelihood is only possible if you have utilized a credit or debit card for the transactions. Visa and MasterCard let this be done within 540 days. 

    How Does Offshore Brokers’ Fraud Work?

    Bogus offshore forex brokers have many infamous patterns. You will see considerable withdrawal issues and negative reviews. In the same way, the fees will be exceedingly high. Beware that these tremendous fees frequently go beyond 20%.

    As a result, they’re going to incorporate some sort of profit charge. Deceitful websites will want to rip off you of these fees before initiating a withdrawal. Understand that this is nearly always the case!

    In addition, there are always big payouts they swear by. This is another familiar fraud scheme that you should keep in mind. These scammers will promise you guaranteed gains. Trading with leveraged instruments holds up risks. Never forget this!

    Any broker forgery will keep telling you that the profits are guaranteed.

    Trade with honorable and regulated brokers only. Licensed brokers come from the EU, the United States, the UK, as well as Australia.

    Best Forex Trading Brokers

    In the following table, you can see some exceptional regulated forex brokers. Check them out now! 

    BrokerCountry,RatingMin. DepositWebsite
    FXTM BrokerCyprus, UK, Mauritius4.5$10Forextime.Com
    OctaFX BrokerCyprus, SVG4.4$100OctaFX.Com
    FP Markets BrokerAustralia, Cyprus4.7$100FpMarkets.Com
    XM BrokerCyprus, Belize, Australia4.7$5XM.Com
    HFM HF Markets BrokerCyprus, UK, South Africa, UAE, Kenya4.3$5Hfm.Com
    FBS BrokerCyprus, Belize, Marshall Islands4.85$100FBS.Com

    MainTrade Summary

    MainTrade broker is an investment scam, by all means. The best course of action is to stay far away from it. As you may see from this MainTrade review, there are many explanations for avoiding this trading scam. 

    This broker uses fake addresses, and everything about it is deceptive. Let us know if you have any negative experiences with this deceitful broker. We can help you report it. FAQs About MainTrade Broker

    FAQs About MainTrade Broker

    Is MainTrade Regulated?

    MainTrade broker is not authorized and not regulated at all. Try to stay away from it!

    Does MainTrade Offer a Demo Account?

    No. This broker scam offers live trading accounts only. No demo accounts are available.

    What is the Minimum Deposit for MainTrade?

    There is no clear information in regard to the minimum deposit amount on their web page.

    MainTrade Reviews MainTrade Scam Scam Broker MainTrade Trading Scam

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    Wondering how to know if your broker is safe? How to avoid dealing with swindlers? We'll help you find the best broker that suits your trading style and skill level.

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    FinTopiAuthor
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    The FinTopiAuthor, who prefers to remain anonymous for now due to privacy reasons, has a bachelor’s degree in finance and over 10 years of experience in financial planning and bank loans. For the last 3 years, they’ve been working as a freelance copywriter in the niche of financial products, investing, and money lending, with the special attention to pros and cons of different loan types. Besides an interest in financial topics, they’re keen on traveling and various adventures.

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    Table of Contents

    Table of Contents

    • Regulation and Security of MainTrade
    • MainTrade Trading Platform
    • Account Types at MainTrade
    • MainTrade Offers Bonuses and Promotions
    • Deposit and Withdrawal Procedure
    • Best Forex Trading Brokers
    • MainTrade Summary
    • FAQs About MainTrade Broker

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