Mayfair Exchange Review: An Offshore Broker

The FCA has a warning in regards to Mayfair Exchange (Mayfair.exchange), a ruthless offshore broker. Once you land on their homepage, it’s easy to fall for a well-designed website. These are offshore brokers whose intent is to steal your hard-earned money.

Forget about their sales pitch, and scam artists will do or say anything to entice you into signing up. Thanks to our keen eye, we can spot the red flags hidden deep within the website. Continue reading this fair MAYFAIR EXCHANGE Review for more.

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A brief background and history of Mayfair Exchange

After checking their company’s profile, there’s not much going on there. The About us page claims that veterans of the trading industry run the website. As we said earlier, scam artists will try and sell their case in every conceivable manner.

We do have a way of catching these lies, and we plan to use them. Despite their efforts to hide their identity, they do claim to reside in the Dominican Republic.

The fact that the broker is offshore is a pointer that funds are not safe with them. Offshore brokers rarely undergo any scrutiny by regulators. And this is the reason why Dominica and the Marshall Islands are a haven for such brokers.

These brokers won’t deposit any money with regulators as insurance for funds deposited by investors. The lack of any supervision enables them to do as they please at the expense of investors.

Are funds safe with Mayfair?

There’s no way funds are safe from a website that’s already on the blacklist of the FCA. The broker fails to deposit funds with regulators. There’s no security cover for deposits made in the event of bankruptcy.

Expect no compensation once this platform goes under, and it will within a short time. Due to this expose, the broker will have no other option but to shut down the scheme.

Business owner

Claims of the platform being operated by veterans of the internet’s trading industry are false. There’s no mention of anyone on the website with ties to this platform. All they do is use fancy words to try and create an illusion of a money-making venture.

It’s all a ploy to entice investors into believing they are in safe hands. With the platform already blacklisted by Europe’s top regulator, it’s best to steer clear.

Comments and feedback from members

Thanks to review sites such as Trustpilot, you can gauge a customer experience. These fraudsters know this, and they have a way of placing positive comments. You will notice that the positive comments are in the same timeline.

It’s either on the same day or consecutive two to three days. These are scam artists playing the part of satisfied customers. There are others who, in reality, post their experience with the platform.

Domain information (mayfair.exchange review)

According to the domain checker tools, the website went live a couple of months back. The exact date was October 13, 2020. Claims of being in the industry for long are false, and they have no online credibility.

Over three months, the platform has managed to get several complaints. The broker is also on the blacklist of the Financial Conduct Authority. It goes to show that for the past few months, they have been stealing from investors.

Mayfair Exchange License and Registration Details

Even their website does not have any details regarding the license and registration. It goes without saying that offshore brokers don’t have credible licenses. These brokers don’t undergo any scrutiny by authoritative regulators.

At best, they only register the companies under the Company Registrar. These are scam artists who won’t bother with rules since they are running away from trading regulators.

Mayfair Exchange is far from being a legal document and does not have any legal footing. There’s an alert out from the Financial Conduct Authority. Ensure you check with regulators to find out whether a specific broker is on their blacklist.

May Fair Exchange won’t bother to inform members of the status of their license. The broker is hiding relevant information to users, which is an offense. There’s no security of funds which is a critical feature in any trading platform.

Pros and Cons of Mayfair Exchange

Account types

The broker is offering users three account plans to choose from. These account plans include Basic, Premier, and Platinum. We did notice that the broker does not indicate the acceptable minimum deposit.

Most of the features are the same, with all accounts having daily withdrawal limits. Only Premier and Platinum account holders have a minimum deposit set at 50,000 and 100,000 Euros, respectively. It seems that Basic account holders can deposit from 49,000 Euros and below.

Contact and support

There’s a Telegram channel you can join to chat with representatives of this platform. What was shocking with the support is the use of AnyDesk, which is a desktop sharing app. These scam artists will pose as support to gain access to your computer.

With your information already in their hands, what’s to stop them from cleaning your account? Registering with such a broker comes with huge risks.

Dedicated account managers

Claims of having a dedicated account manager are nothing but a scam. There’s no professional working behind the curtain. These are scam artists who will entice you into depositing large sums of money with them.

After depositing, you will be redirected to different account managers over time. Within a short time, no one will pick your calls, and the account will be frozen. It’s how offshore brokers work their way into getting your money.

Payment options

There are several payment options available on the platform. These options include Maestro, MasterCard, Skrill, Visa, and wire transfer. Depositing funds is easy, and the process takes less than five minutes to complete.

Withdrawing funds is a problem you don’t want to face. There’s no universe that these scam artists allow anyone to withdraw. We haven’t seen any member coming out with proof of withdrawing funds.

Trading platform

The broker claims to offer several trading platforms to members. Three platforms available include advanced, mobile, and web trader. None of these platforms are available on the website. We could not get links to these platforms, which indicates they are not worth the hype.

Claims of having powerful charting tools with 80 technical indicators are a lie.

Scam or Legit Mayfair Exchange

Mayfair Exchange is a scam that’s ready to rip you off and clean your bank account. Be extra c careful with whom you share your personal details. These scam artists use AnyDesk to gain access to your computer. After gaining access, they will use your information to check your credit card number. With this date, they will even buy and shop for goods using your card.

Closing remarks

There’s no way we would recommend a broker that is on the blacklist of the FCA. Please stay away from them.

Choose the best experts with a proven track record. It’s the safest way to trade and earn a realistic profit margin.

We wish you all the best in your trading.