WikiFX Review: Is MTFE worthy to invest in?
About MTFE
MTFE is an online forex broker offering various financial products, including Forex, Commodities, Indice, Stocks, etc. It provides corresponding financial services to professional and institutional clients. The physical address for this broker is 150-10451 SHELLBRIDGE WAY, RICHMOND BC V6X 2W8, Canada.
Trading Platform
According to WikiFX, this broker uses the non-MT4/5 platform as its main trading platform. A broker that uses neither MT4 nor MT5 is likely to manipulate your trading process. If you are about to invest in this broker, please be aware of this point.
Account Types & Minimum Deposit
On its website, there is no information about its account types and minimum deposit. As long as we dont have enough information, we can not consider HD Markets as a trustworthy broker.
What is WikiFX？
WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry.WikiFX is able to evaluate the safety and reliability of more than 36,000 global forex brokers.WikiFX gives you a huge advantage while seeking the best forex brokers. For more information, such as the review and exposure of brokers, please visit our website (https://www.WikiFX.com/en)
Regulatory Status
What is a Legitimate License？
• The legitimate license is the business license issued by the financial regulatory institution of each country/region.
• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.
• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.
• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.
The legitimate license of MTFE
On its website, MTFE claimed to be regulated by the Canadian FINTRAC - Money services business. Authorized Regulatory Authority (No.: M2207657. However, according to WikiFX‘s investigation, MTFE is not a regulated broker, it doesn’t hold a regulatory license, which means that your money is very likely to be out of your control if something goes wrong. Thus WikiFX has given this broker a low rating of 1.09/10.
Is MTFE dependable to invest in
As an unregulated brokerage firm, MTFE may blow your account and take your money away without your permission. It is difficult for you to hold them accountable for your loss of money. The lack of significant information makes this broker more questionable.
Conclusion
All in all, when you look for a broker to conduct your trading activities with, the thing you need to do is to identify the brokers certification. Unfortunately, MTFE is a broker that lacks such information. WikiFX does not advise traders to invest in MTFE. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.
https://www.wikifx.com/en/news....detail/2022070180042
