MCI Investments Review: Mciinvestments.com Forex Scam
MCI Investments (Mciinvestments.com) is selling themselves as a top rated broker offering CFDs on Commodities, Cryptocurrency, Forex, Indices, and Shares. MCIInvestments is offering over 200 global markets to anyone who signs up. Before signing up with Mci Investments, there are a couple of facts to learn. Most of the members have over the years complained of accounts being blocked for no reason. And now, a warning has been issued. Read this genuine and honest MCI INVESTMENTS Review for more information.
About MCI Investments
The broker is selling themselves as an innovative online Foreign exchange platform. They claim to have cutting edge trading tools with institutional and retail trading services. Other claims include having exceptional educational materials and resources. These claims are just a roost to entice newbies to sign up. Most of the members are up in arms over what they term solicitation of funds. To stay safe when trading online, it is recommended using top rated brokers with a strong reputation.
MCI Investments is not clear or sincere about their trading background and history. And this is why we need to expose the platform for what it really is. It is another offshore brokerage firm trying to steal from unsuspecting investors. With such a trading platform, it is best to stay away from it as more and more victims are coming out. A broker with no trading history is not to be trusted. After all, scam brokers will do or say anything to try and sell their brokerage firms appear legit.
Assets Involved
According to their homepage, MCI Investments is offering notable trading assets. They include Commodities, Cryptocurrencies, Forex, Indices, and Shares. What is shocking about the website is lack of clear information regarding the asset information. A closer look at the entire website reveals the platform does not offer any real information. None of the pages has information regarding leverage and spread. And this is one of the many reasons why investors should be worried.
Business Owner
MCI Investments is not clear as to who operates and runs the company. Information regarding the actual business owner is missing. As an investor, it is good to know who is handling your funds. The platform is completely anonymous with no information regarding the actual owners. With any online investment trading platform, investors should trend with caution. Scam brokers use anonymity as it makes it hard to recover stolen funds. Any recovery agent who claims to recover funds from anonymous websites is lying.
Domain Details
According to the domain register whois.net, their website has been in operation for close to four years. Within this trading period, the broker has failed to get a valid trading license. The domain mciinvestments.com was created on 1st December 2016. Why the broker fails to get a license for over three years is beyond our comprehension. Only scam brokers who want to remain anonymous take such primitive actions. These are brokers who have no trading pedigree and are just stealing from unsuspecting investors.
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License and Registration of MCI Investments
The broker has no details regarding compliance which is an indication of lack of regulation. Disclaimer at the footer of their homepage has no information regarding the broker. And this is why everyone should stay away from the platform. MCI Investments is NOT LICENSED OR REGULATED to offer any trading services. No regulator in the European region seems to acknowledge the broker.
Another shocking feature with MCI Investments is the warning issued by CNMV. The Spanish watchdog has issued a warning regarding the use of MCIInvestments. A warning is a clear indication of the broker’s inability to offer transparent trading conditions. Most complaints reaching the regulator are from members complaining of fraud. The broker is blocking members from accessing their deposits. And this is a clear indication we are dealing with a rogue trading platform.
Limitations of MCI Investments
Account Types
MCI Investments is furnishing traders with four different account types. The accounts listed include Basic, Silver, Gold, and VIP. According to the account’s page, each account comes with a different leverage. The leverage starts from 1:10 for the basic account to 1:40 for the VIP account. Each of the accounts comes with a welcome bonus which starts at 50 percent. The welcome bonus has become a huge issue as the broker will not grant withdrawal unless bonuses are paid. Any investor who gets a bonus must pay it back.
Contact and Customer Support
Another serious issue we found with MCI Investments is communication. It is clear they do not offer live chat support. In case a member wants to reach out, they send an email or make a call. The problem with emails is they tend to take long to get any response. When it comes to phone calls, the number posted on their contact page is ever busy. These scam brokers even use social media channels to contact members. They will only contact new members when urging them to deposit more funds.
Deposit Match and Bonus Recovery
MCI Investments is offering a deposit match once members fund their accounts. As said earlier, these bonuses are a trap meant to enlist more members. The bonus recovery plan of 15 percent is another well laid trap. And this is one of the reasons why the regulators plan to ban brokers who offer welcome bonus.
Funding Accounts
The funding page reveals the broker has a number of depository channels. They Include FasaPay, MasterCard, Neteller, Skrill, VLoad, Visa, and Wire Transfer. Scam brokers get it right when it comes to numerous depository options. It gives any investor from any corner of the world to trade with the platform. Withdrawing funds remains to be the biggest obstacle with the platform. None of the members we contacted have ever had the chance to withdraw funds. It would seem the first few members who signed up got to withdraw.
Senior Account Manager
Account Managers have been a bone of contention when it comes to this trading platform. These senior account managers are simply paid call agents who act as professionals. One member asked various trading questions which the account manager couldn’t answer. They kept on switching to various managers before the member gave up. Scam brokers usually hire call agents to entice members to deposit more funds. And this is another reason to stay away from this ridiculous trading platform.
Trading Platform
The homepage might have details of having MT4 trading platform, but this is a lie. Scam brokers will claim to have the best and most secure trading platform. After we investigated and visited their trading platform page, we noticed they have a web based version. With no DDoS and SSL encryption, these scam artists will clearly open members to more risks. Hackers will easily steal credit card information from the website.
Safety of funds with MCI Investments
Another shocking feature with MCI Investments is lack of a secure trading platform. And this is another reason to stay away from the platform. Segregation of accounts is not taking place as dictated by trading regulations. Steer clear of this trading platform as funds are far from being secure. A compensation plan is not in effect. After shutting down, no member will get any compensation.
Scam or Legit MCI Investments
With the evidence on our hand and CNMV issuing a warning, MCI Investments is a scam. After an alert has been issued by an official regulator, the broker is deemed a scam. Anyone who wishes to sign up with the platform should know the consequences. . Warn your family and friends from joining any of their affiliate programs.
Verdict
Evidence is clear that we should add the broker on our blacklist.
Stay safe and use approved brokers when trading digital currencies. They will guarantee your safety when trading with Crypto.
We wish everyone a safe trading period.