MarkeTrip review – 5 things you should know about marketrip.com

MarkeTrip review – 5 things you should know about marketrip.com

Beware! MarkeTrip is an offshore broker! Your investment may be at risk.

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More novice traders might think that MarkeTrip is the broker for them, but in this review we will debunk all the myths and give you our objective view of the broker. We were offered a EUR/USD spread of 2.9 pips which is twice the industry standard and thus is not favorable to traders at all. The leverage we were given was capped at 1:100.

MARKETRIP REGULATION AND SAFETY OF FUNDS

There are several aspects about this broker that are quite concerning. One is that the Privacy Policy claims that the firm is located in St. Vincent and the Grenadines- the ideal location for illicit brokers, since the country does not regulates the forex market. This means that any would-be broker can register there without issue and start offering shady trading services, while twisting the rules, much like MarkeTrip has done. It’s obvious then, that St. Vincent and the Grenadines does not regulate the forex market, meaning that any registered broker inside of the nation is not licensed.
The second, and last concerning aspect is that, aside from the aforementioned details, the company reveals no other regulatory information that would be of use to us. The Terms and Conditions are useless, and the Client Agreement reveals nothing. We are left with no choice but to deem MarkeTrip an UNREGULATED broker and an investment risk to all traders!

Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

MARKETRIP TRADING SOFTWARE

The broker utilizes the atypical scammer broker website that offers just enough to seem decent to more rookie traders. Do not be fooled; this trading terminal is very limited in its ability to diversify a trader’s experience, and its only true purpose is to serve as a facade to the broker’s illicit activities. We recommend user to treat themselves to the MT4 which will showcase the true power of a proper trading platform.

MARKETRIP DEPOSIT/WITHDRAWAL METHODS AND FEES

According to the client dashboard, users can deposit via the following methods: Credit and Debit Cards, wit a minimum deposit of $250. There is a $25 charge fee for every transfer one makes, and other undisclosed fees:

As for withdrawals, the broker does not reveal its methods, just a “withdrawal funds” button that seems to be an empty promise of transferred funds. This is a common trope in unlicensed brokers. Yet, the legal documents reveal a 3.5% Credit Card fee for withdrawals.

This clause, and others like it unveil that bank transfers and credit cards are the ways to withdrawal funds. However, we strongly advice traders to only deposit the minimum deposit, or better yet – not deposit at all! This is because scammers are known to either deny withdrawal requests, or impose incoming and unexpected charges.

How does the scam work?

Users will be in the middle of a scam without even knowing it, that’s how efficient these scams are. Yet, clients will also be surprised that the most utilized scammer structure is laughably easy to grasp, making it predictable. We have dedicated the following section to the reveal of how the scam works.

The internet is filled with ads, it’s the fuel of the industry, and a big chunk of said advertisements are misleading and some are downright deceitful. The ads concerned with unregulated forex brokers are often very promising, and most of the times utilize completely false claims of immediate profit. Those tempted enough will be redirected to a robo-scam website that further guarantees profits. The only thing that separates the user from the unrealistic promises is a fast registration process that requires a phone number and an email address. After inputting this info unsuspecting users will start getting phone calls from illicit broker representatives, whose one and only job is to initialize the scheme by pushing a trader to make that first deposit of around $250. After that’s done, the senior representatives will be calling. These expert scammers are extremely good talkers, and will start working on you to start putting even more money in. They say that the more money invested, the higher the profit will be. At this point most traders start seeing the big picture, and will want to withdrawal their money and get out fast.

However, the scammers have anticipated this development, and are ready to counter any withdrawal request. Typically they find excuses for delaying the request in the legal documents that hold specific clauses for these purposes. The reasons are many. One thing to remember is that all illicit brokerage firms will deny the withdrawal request for as long as they can, because of the imposed time limit traders have for filling a chargeback. Once the crucial due date is not met, any chargeback requests will be denied.

What to do if scammed?

Those of you who deposited using VISA and MasterCard wil be glad to know that both companies have extended their chargeback time span to 540 days, especially if the reason for it is an online scam.

Scammers will steal directly from a bank account, if the traders has provided crucial details, like banking password or security code. If it get down to this, be sure to either block the account or change the password.

Sometime victimized users will stumble upon the so called recovery agents that promises to magically reclaim all lost investments, for a fee that is. Needless to say, they will not get back any of the lost funds, and will basically scam you a second time.

Rich Snippet Data
Review Date
Reviewed Broker
MarkeTrip
Broker Rating
11stargraygraygraygray

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34 Comments

  1. As per their website, they supposed to proceed the withdrawal requests within 5-7 business days, I´ve got the withdrawal approved after 60 days since I have placed the withdrawal request. Due to their lack of communication and inactivity I will be charged 100dollars for inactivity on the account, even when I have asked for withdrawal and cancellation of the account.
    They have pushed me, called me every week to push me to start trading with threateting of being charged penalties due to inactivity, no matter if i have placed the withdrawal and asked for closure/cancellation of the account.
    I am still waiting to get me money back and for closure of the account to stop the increasing penalties for inactivity.
    The worst experience ever, lack of communication, lack of responsibility, no clear terms and conditions, very difficult to get any updates on your requests.
    No change to call the support team or the account manager, you have to wait till they call you. Do NOT recommend after my own experience.

    1. I have much the same experience with trying to get my money refunded – biggest mistake placing any money on deposit, glad it was the minimum amount.

      Avoid like the Covid Virus!

    2. Are they still chasing you for penalty fees? I’ve tried to cancel my agreement realising this could be a scam before verifying my account with proof of I’d but not before transferring my money to them. I’m planning to just ignore them now, block there number and email address. Not expecting the money back but I dont want them chasing me for fees. Any advice?

    3. Yes I had the same as you. Do you or any one else know this names Francis Muller Mark Taylor Stephen Ambrosi as they all told me they are account managers, as I’ve had the 3 of them.

    4. I am also being scammed out of 20,000 dollars, they already used 6,000 and they ask me not to withdraw the rest that I do they tell me wait 7 days
      ————————————
      Tambien estoy siendo estafada por 20.000 dolares, ya usaron 6.000 y me piden que no retire el restante que hago me dicen espere 7 dias

    5. Thanks for this valuable information. They are forever calling me, pushing me make a deposit and promising me an extra R4000 after joining however,the so called agent or broker is rude. I was suspecting all this time.

  2. I requested a withdrawal is about a month now they will tell you your withdrawal is on review process.This broker is not a reliable one run when you hear Markertrip you wl loose yo money.

  3. Alfred Chojnicki

    I’ve got scammed for 2400 euros, they started trading with my balances to make profit out of comission fees, losing couple hundred euros per day on trading. When I manually stopped the transactions, they have appeared after a day or two, meanwhile I’ve tried contacting them and my bank about this issue. Nothing helped, I’ve lost my money. Remember people, learn from my fucking experience, not yours, be smart with your money and fuck them all.

    1. COMPLAIN AND LAWSUIT THEM at [email protected] as I did . If we be more may that not happen again . They are frauds as you say

      Regards

    2. Ami the same thing happens to me I deposited the money for baucher and this is the time that I don’t know what happened with the money I wrote an email asking them to give me the money
      ————————————-
      Ami me pasa lo mismo les deposite el dinero por baucher y esta es la hora q nose q paso con el dinero les escribi un correo pidiendoles q me de buelban el dinero

  4. ANTHONY ERIC Randell

    also lost money cant phone them and web site gone down

  5. Please don’t invest with these animals avoid them like the virus they are I lost my life savings @at 68 years old and with Parkinsons I hope they all rot in hell

  6. My Mother was scammed out of the minimum deposit after clicking onto another of their websites called Way2finance / Navarla limited which appeared as a pop up on a daily mail finance page. It was so sophisticated that she had only just completed the “learn more about this” section and hadn’t even pressed send when they called saying we would like to help you complete the form. They then aggressively hassled 3x per day by Marketrip to deposit higher sums, thankfully I got to it first.. Having checked through companies house it is Bulgarian owned by the same person. They were hassling my mother for her passport copy and photocopies of the front and back of her credit card. I don’t know how they have avoided the law.

    1. WRIGHT TO [email protected]

      A company named MARKETRIP https://www.marketrip.co/#/ they have made a perfect profile and they steal people’s money including myself .
      Here are the reviews of some unlucky people https://theforexreview.com/2020/02/03/marketrip-review/?unapproved=38057&moderation-hash=9b158c0a76d19b919af6cdbe95c1cda4#comment-38057 .
      If you check the reviews it not that we trade and lost , WE NEVER DID , we never had the chance . They have withdrawl service and they lie and misuse the money.

      May that help
      Lets do something

    2. Just curious but is the name similar to I–n I–nov Za—-ev??

  7. Why has non one opened a fraud case through the bank as my funds were put into a trading school I knew nothing about

    1. It is fraud online marketrip some contacted me with Australian phone number and explained about the business asked $250 Australian dollar for deposits on account and then start the running business, you will be getting $10000 Australian dollar, when I passed my credit card details and deducted from my account $412.73 Australian dollar. I talked to them it’s fraudulent please money refund and I withdraw. They told me refund but still didn’t refund yet

    2. I will do it

  8. usernamenotavailable

    I’ve also been scammed of the initial investment fee of 250 euros. Good thing though I have not submitted any of the proof of id’s they require of me. This is the first time I’ve seen this review and I have tried contacting my so called agent Karl Clausewitz and found out his domain address is not existing anymore. At least I found out early that this is a scam.

    1. Hi has you did not submit proof can they still bill you I foolishly gave them 250 euros yesterday but have not submitted details after seeing reviews etc

    2. I also had 5k scammed there is meant be just under 16k in account also klaus was my agent also,again wont release my funds.there must be someone who can help us surely, feel so stupid savings gone.so scared to tell my family.oh please let there be away to catch them out and get our money back,they way things can be fast tracked ,surely we can trace? So upset anxious cant sleep at night never gambled before never again feel so stupid.

  9. I invested in market trip before I know about this site I put 250 pounds in they were very unprofessional and rude from day one all because I didn’t invest 5000, so I was cut off a call as he stated he would get his minions to call me, they two unprofessional, so I put in a withdrawal request to which I am still waiting for what I have left. that was a 3 months ago, is supposed to be 5 days, so I keep trying to get it back, I still get the calls to keep trading despite me saying no, so don’t do it guys, I have learnt.

    1. Scam do not trust! Stole my £250 and after requesting so many times to withdraw no mention back they have asked for proof of card and driving license pictures to verify very dodgy company do not trust!!!!

  10. Thank goodness I looked up for trading scam’s online about Market trip trading. I haven’t started and never will according to all those who experienced it.

  11. They keep calling me 3 times per day and already 2 months in a row. I told them to not call me and erase my phone number from their database, they are just wasting their time as i’m not interested, but apparently it does no stop them and keep insisting on invest in their crap. I told if they call me one more time i will report to police.
    If you really want your money back, then it will be most efficient if all who was scammed will file a report to police/Interpol/FBI/Scotland yard, whatever is most efficient with these scammers 🙂

  12. Feel really stupid falling for this think I will just take the hit of 250 and have no more contact with them

  13. I am 78 years old and deposited my life savings of £5,000. Biggest mistake ever started 6th march and by msy asked for my acvount to be closed when it had reached £1,100. They told me it would take some time for withdrawal as I had to be with them for six months. Waited and waited. Had a phone call today saying that the bad news was I was st minus £5,000. They had continued activating my account. I just gold them they were scammers and put the phone down. What a fool I was. Please won’t fall for it.

  14. Hi got scammed like everyone here , but I just want to know has anyone figured out how to close the account and move on

  15. Manuel Pinto Lemos

    I was scammed by marketrip s. Vincente, i make the withtral i hope they deliverid, Lost Manet on Forex, um me going to call my Bank to help me. Thanks best regards

    Manuel Lemos

  16. I am a victim, Marketrip is I scam company offshore, they are Albanian they use a fake names with fake email address to still your money online. Ones you sign with them you will lose your money and never get them back. Please do your recherche before you sign with them, you maybe the next victim.

  17. Yes they are a scam company ! Found out just in time before we invested anymore money with them. Trying to retrieve our 250euros is proving dificult as the Gentleman who rang us yesterday said he was going to refund my card, but started to ask for details like my OTP number and to autherize payment from my bank. when i explained that my bank was saying this was a payment to them and not a refund he was very pushy in trying to get this information which i declind when i told him i was going to contact my bank his responce was F-CK YOUR BANK !!! Have now cancelled my card and the banks fraud department are taking on the case.
    DO NOT GO ANYWHERE NEAR THIS COMPANY !!!!!!!

  18. I just want to exploit this opportunity and thank everyone who shared his sad, emotionally and mentally hurting! I have learnt a lot about scams since I was scammed before,your experiences are helping a lot. I nearly fall for them but after talking to this rude Stephan Petrov I became suspicious as to why is he pushing that I invest with their company. Thanks a lot. I hope that one day we will get the legitimate regulated investment companies

  19. They are evil they scammed me R41500..I’m still shocked and I lost my money..can I get help somewhere

  20. I too have fallen for this scam but luckily for the minimum of 250 Euros. Registering my phone number and email was the start of many phone calls and emails which I have not yet answered as I investigate them further. The phone calls became more regular and some from Switzerland (I am in the UK) and at one stage the Swiss number, or a variant of that number differing by just the end digit) called me 20 times in a row, non-stop. Pure harassement. I will attempt to get my money back then punish them with which ever agency I discover is the correct one to use to achieve this.

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