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


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


MatrixBanco is a Forex broker which declares itself to be the true industry leader and preferred choice by the traders all around the world! However, it was way too easy to refute their statement, because they have already been blacklisted and confirmed as a scam! The Italian financial authority CONSOB issued official warning, defining MatrixBanco as a fraudulent financial intermediary, the document was published on September 7, 2020.

You should never ever trade or make investment with MatrixBanco, if you do you are certainly going to lose your money. When choosing a Forex broker you should always make sure to avoid at any cost these, which have been blacklisted by a financial authority. Stay away from MatrixBanco and report immediately if contacted by them!


MatrixBanco claims to be regulated by FSA in St. Vincent and the Grenadines but that statement is a ridiculous nonsense. The island’s financial authority SVGFSA does not regulate Forex and CFDs brokers, these entities operate without supervision and there are no rules to be followed or requirements to be met by them. What’s more, MatrixBanco doesn’t even appear in the SVGFSA registry, they shamelessly lie and publish fake information for themselves, trying to deceive the public. The so-called Matrix Banco UK, a subsidiary operating in Great Britain, is in fact a non-existent entity, because it’s nowhere to be found in the British registries.

Your funds are not safe if you deposit with MatrixBanco, it is unlicensed, unregulated and unauthorized to offer Forex and CFDs services to the public! Instead, choose a broker which is legit and properly regulated, such an entity really makes the difference for the investors. In EU and UK, for example, the foreign exchange providers have to comply with many stringent rules and regulations, which are put in place for the benefit of the traders. There are also money protection schemes in operation which guarantee the deposits of the clients. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed even of up to 85 000 GBP.


MatrixBanco offers only MT4 accounts to its customers, they do not have a web trading platform, which is a plus to some extent. Metatrader is the leading retail Forex software, the most popular one among the traders for its stability, reliability and features, which makes other similar products incomparable.

However, after we downloaded the MT4 we found out pieces of conflicting and very disturbing information. The provider of the service is Capital Com Investment Ltd., an offshore company, which was blacklisted by various European regulators back in 2019,  confirming it is a scam!

There are demo accounts available, but are only accessible through the MT4 platform, we tried to create one from the dashboard, but unsuccessfully. The EUR/USD spread is 1.5, but the price action is really strange and slow, in comparison to other brokers it is very different and doesn’t suggest reliability. We executed a trade  on our demo account and the response from the server was also unusually slow! Better do not try at home with your own money!

The leverage is said to reach as high as 1:500, however, when we tried to change it from the dashboard  but there was no response and it remained at the default 1:50 level.

Last but not least, MatrixBanco offers Wealth Management services, which we certainly do not recommend!


The minimum deposit with MatrixBanco is 100 USD. The real funding method is only Bitcoin, even though they claim to offer variety of payment ways such as wire transfer, Skrill, Neteller etc. There are two payment alternatives on their Deposit Page and if you choose Masterpay, you will get an error message. The other option sends you to a third party crypto payment system, where you should buy bitcoins! Beware, it is an evidence of scam if a broker accept only cryptocurrency as a funding method, even if we didn’t know that MatrixBanco is a confirmed scam, this fact definitely trigger the alarm.

You can made a deposit without proof of identification, another red flag!

The minimum withdrawal is 50 USD and it usually takes three to five days to be processed. That is what we understood, but have a look at their poor presentation of such an important matter. What a shame, it is a broker which declares itself to be a leader in the industry! Also there is some 100% fee, but again, they were unable to specify anything in a clear and readable manner! Another sign that confirms you should stay far away from MatrixBanco.

A bonus of 15% is introduced, if we understood correctly, but the information given repeatedly doesn’t meet any grammatical standards. It seems to be a referral program, but the name of USA suddenly appear out of nowhere, seriously, if you can grasp some useful information, please contact us!

No dormant account policy or fees applied.


A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.

It’s a scam sign if a Forex broker accept only cryptos as funding methods and that should be remembered. They are doing it for a reason, the cryptos are perfectly unregulated, there isn’t a single authority in the world to deal with cryptos, and also the payments are totally anonymous. Once you deposit cryptos with scammers, it’s virtually impossible to get a refund! Stay away from brokers who does not accept the traditional funding methods, there is something fishy going on.

The most effective way to avoid scam is to do a thorough research, get familiar with the trading conditions offered by the brokers, read their Client Agreements, use demo accounts, read reviews, be alert. With charlatans adapting their tactics daily, you’d better be always up to date with the newest scammers’ tactics!


No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience, it is important to protect others, as well. Be responsible!

Stay away from MatrixBanco, it is a confirmed scam!

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