MT Finance Limited review – 5 things you should know about mtfinancelimited.com

Beware! MT Finance Limited is an offshore broker! Your investment may be at risk.

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

The MT Finance Limited  website is full of reassurances that this is the right broker for you, especially if you are a beginner investor. But a closer examination reveals that this is yet another online scam targeting people who lack experience and knowledge about financial trading. In this review, we’ll show you how to tell the real brokers from the fake ones, using MT Finance Limited  as an example.

MT Finance Limited Regulation and safety of funds

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

According to the homepage of the website, the company behind this broker is called MT Finance Limited Limited, but no contact address or details of a regulatory licence are given.

The only document on the website is a Client Agreement, which does not name a legal entity or specify an applicable jurisdiction. It should be noted that the home page of the website is only available in Russian and this document is only available in English.

In the database of the Bank of Russia we find a warning to investors that MT Finance Limited is not a legitimate broker.

If you have decided to invest in financial instruments you have a choice of much more trustworthy options.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

MT Finance Limited Trading software

After registering an account, we get access to a web-based trading software that is quite rudimentary and lacks even some basic functionality for placing orders.

But even if MT Finance Limited  had a more convincing platform, that would not make this website credible. Fake brokers use rigged trading software to mislead their victims that their money is really being invested. But this trade is entirely sham.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

MT Finance Limited Trading instruments

The MT Finance Limited trading platform includes instruments from all major asset classes – currency pairs, stocks, commodities and cryptocurrencies. But as stated, there is no guarantee that this trading is real and not fictitious.

MT Finance Limited Spreads and cost of trading

In the trading platform we see extremely high leverage of about 9-10 pips. In the industry, even a spread of 2 pips is considered too high and disadvantageous to the trader.

MT Finance Limited Maximum leverage

The trading software has a set leverage of 1:100. Regulated brokers do not offer such levels to retail traders as trading with high leverage carries risks of sudden and excessive losses.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

MT Finance Limited Deposit and withdrawal methods

In the deposit menu we see a choice between an unspecified P2P method, credit cards and cryptocurrencies. But none of the options were actually active.

Scammers prefer cryptocurrencies because these transactions are not subject to refunds. Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer and established e-wallets such as PayPal, Skrill or Neteller.

MT Finance Limited Minimum deposit

MT Finance Limited specifies a minimum deposit of 250 USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

MT Finance Limited Withdrawal requirements

MT Finance Limited does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.