Beware! MBStrade Limited is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
MBStrade Limited is incredibly simple and limited, and we find that the entire information pool presented here can easily fill one or two normal broker subsections. Most of the crucial trading and payment details are missing. Read the review for more.
The sole legal” claim that this broker reveals is a UK address, which is very far fetched and a common last-minute statement by many illicit brokers. The mention of the address feel like filler text from the start.
It goes without saying that MBStrade Limited has absolutely nothing to do with the UK jurisdiction, as it is not regulated by the FCA, and thus cannot be legally registered as an FX business locally. Hence, the misleading address.
To increase MBStrade Limited’s scammer element, we also quickly realized that there were no legal documents. Without legal documents, MBStrade Limited can basically do whatever it wants without any consequences for it; the broker can easily disappear at any time with all the funds of the user. And without these legal documents there would be no way for the client to protect his rights.
So essentially, MBStrade Limited is a scam and a very unregulated broker. It is a risk to all.
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
MBStrade Limited Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MBStrade Web Trader||✅||❌||❌||❌|
|cTrader||40+ indicators||✅||✅||Android and iOS|
What we have as a web trader is pretty much the typical offshore trading software, one used by hundreds of other unlicensed brokers that really does not do a good job at retaining clients.
It may seem decent, but the truth is that MBStrade Limited uses its looks to attract a sizeable audience from which to steal from.
MBStrade Limited Trading instruments
From the web trader we gathered the following available financial instruments for trading: forex currency pairs, commodities, stocks, indices, and cryptocurrencies. A decent bunch of assets, undoubtedly, but the broker remains a risk for all traders nonetheless.
MBStrade Limited Spreads and cost of trading
The EUR/USD spread offered by the web trader is 0.9 pips. This is an excellent cost of trade, but again the broker is a risk so there is real no way to recommend it. Apart from that, we also read about a GBP/USD spread flickering at 1.5 pips, while the other major FX pair, the USD/JPY, has a spread value at 0.1 which is way to good to be true and not at all correct considering how scammer this broker is. The value has been manipulated for sure.
What’s more is that there is no mention of any commissions anywhere, meaning that what you see on the web trader is what you get. The broker has definitely tinkered with the costs of spread to look more legit.
MBStrade Limited Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The leverage values as taken from the web trader are as follows. 1:100 for FX pairs, 1:10 for stocks, 1:10 for indices, 1:10 for commodities, 1:100 for gold, 1:10 for oil, and 1:5 for crypto, but 1:100 for certain crypto assets like ETH which does not seems right, and feels like an error in the web trader.
MBStrade Limited Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Credit card||Instant||No information||Free|
|Debit Cards||Instant||No information||Free|
|QIWI||1 hour||No information||Free|
|Crypto||24 hours||No information||Depends on crypto|
The available deposit methods are credit cards, debit cards, QIWI, and a BTC wallet. The deposit section was unresponsive, so we could not proceed with further details. The available withdrawal methods are basically the same as the depositing ones, with the addition of more crypto wallets and a bank transfer, which is technically against AML procedures but whose MBStrade Limited to adhere to these rules? They apply to legal and fair entities. The broker does not reveal any processing times for either deposits or withdrawals.
MBStrade Limited Minimum deposit
Despite the limited deposit section we were able to get a minimum deposit of $10 for cards, and $150 for QIWI. The crypto wallet probably allows for as low as $1, as they always do.
MBStrade Limited Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|MBStrade Limited||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
There are no withdrawal details revealed anywhere on the website, as not only are there no details on the site, but the fact that there are no legal documents makes the whole thing process of looking useless. We believe that there are hidden withdrawal conditions -like fees – but the broker keeps these to itself.