MTI24 Review: Mti24.com Dubious Forex Scam Exposed
MTI24 (Mti24.com) is a false CFDs, Cryptocurrency, and Forex platform with the intent of defrauding unsuspecting investors. MTI 24 is claiming to offer commodities, Forex, Indices, and Stocks. A closer look at the website reveals that the platform is a clone and does not actually provide transparent services. Victims of the platform have come out and urged us to conduct an investigation. Read this genuine MTI24 Review for more details.
MTI24 Review
The platform claims to give access to leading financial market analytics and data. Far from it, the platform is a clone and most members never get to withdraw funds. And this is what makes MT124 a really tough nut to crack. These scam artists have made it their aim to steal from unsuspecting investors. Thanks to our years of investing and trading, we know of ways to expose their tricks. Read this entire review and find out some of the damaging features you should watch out for.
MTI24 is using a well-designed website to catch the attention of investors. For newbies, it is hard to spot any flaws once you visit the page. The platform is full of traps and tricks which the naked eye can’t spot. To identify some of these loopholes, we acted took an account from one member to investigate. What we found out will shock you beyond words. The platform is highly defensive when it comes to asking important questions. We were blocked several times before we came out with concrete proof of fraudulent activities.
About MTI24
What is funny with MTI24 is that they fail to give users their background and history. From what we have gathered, the platform claims to be located in the United Kingdom. A closer check with UK authorities, mainly the register of companies reveals no such company. There has never been in existence a company with the name MT124 registered by the Company register. And this is where we started our task of revealing the mask behind this hideous platform. The platform is a hoax and traders are better off with tested and transparent brokers with a proven track record.
It would have been ideal if the platform posted names of the founding members. We also would have liked to know the social media handles of staff members. Unsuspecting investors are depositing funds with this anonymous platform. MTI24 is an anonymous online investment platform which only spells doom for anyone who signs up. Stay away from anonymous entities as recovering funds is next to impossible.
Features of MT124
Account Details
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MTI24 is furnishing users with five account types to choose from. Accounts are listed as Mini, Standard, Premium, VIP, and Platinum. Some of the features we noticed with the accounts include personal account managers and online webinars. They also claim to offer additional financing as opposed to bonuses. Some account features include additional financing of up to 100%. You should be wary as these are in other words bonuses meant to entice investors to sign up.
Contact and Customer Support
The platform might fool investors with the live chat tab available at the bottom right hand side. One of the biggest mistakes with their live chat is that it is never online. Investors are supposed to send an email which poses a huge problem. The problem with emails is that the platform might take forever to respond. If a member has some important question, they have to wait until the platform decides to respond. And this is why investors should opt for platforms which offer live chat support 24/7.
Demo Account
Another missing feature with MTI24 is a demo account. Want to know how a platform behaves? You start with signing up with a demo account. Without a demo account, members sign up blindly not knowing the features of this trading tool. The speed at which trades get executed is discovered once you open a real account. If the speed is slow, you will have already deposited funds with this obnoxious trading platform. It is best to start trading with Forex trading robots which are fast and tested to perform at the highest level.
Domain Details
MTI24 is a platform which has no relevant experience or history in the trading world. According to the trusted domain register whois.net, MTI24 is a website that was created on 28th May 2019. The platform is barely a year old and is already causing havoc. Domain details also reveal that the last update was on the very same day. And this is a red flag as most platforms ensure they are up to date with internet security.
Deposit Methods
When it comes to depositing funds with this platform, MTI 24 has this well covered. You can deposit funds using Maestro, MasterCard, and Visa. They want members to have no excuse as to why they can’t make any deposits. The problem with their deposit channel is lack of proper security features when transferring funds. Third parties can easily take over the platform and steal vital data. You should be extra careful.
Trading Platform
MTI24 is claiming to use Sirix web trader as their preferred tool of trade. The problem with this trading platform is that it does not offer secure trading. Hackers will easily take over the platform and steal relevant data such as credit card information. The entire platform lacks important security software such as DDoS and SSL encryption. Your personal information is at risk of getting into the wrong hands. Stay away from, this platform and never use their platform on any of your devices. The platform is also highly unstable and poses a security threat to mobile phones.
Disadvantages of MTI24
License and Registration of MTI24
When it comes to their license and registration, no details have been posted. And this is where we took to the official regulator in the UK for confirmation. The Financial Conduct Authority does not recognize MTI 24 as a licensed or registered entity. And this is concrete proof that MTI24 IS NOT LICENSED to offer any trading services.
Safety of funds with MTI24
The platform lacks a valid trading license which means they operate on the down low. Without a license, it means segregation of accounts is not taking place. What this means is that MT124 is pooling funds in one account. Members are actually depositing funds straight to owner’s personal bank account. You should stay away and never use such illicit platforms.
Scam or legit
With overwhelming evidence displayed, MTI24 is a scam worth exposing. Watch out for their call agents who act as personal account managers. They don’t have any experience dealing with online trading. Never join any of their affiliate programs which promise to give commissions for every member who joins. You will be an accessory to online fraud since your members will join a platform and lose money.
Bottom line
We have exposed this platform and managed to add it on our blacklist. Stay away from it and continue reading our reviews for more on CFDs, Crypto currency, and Forex investing.
Wishing you all the best.
October 2, 2020 @ 11:11 am
Absolutely agree having been one naive investors tempted to get involved. You appear to make large sums of money but by their advice or fraudulent activity trade in such a way the everything you have “earned “ is totally lost. That hurts but the only way, so they say is to add more money to allow a recovery. Each loss hurts and frustrates and eventually you have accept the loss of investment and step away. I did tell them that the losses were a result of incompetence, a flawed strategy or deliberate fraud. They appear to have an answer to everything. They should be prevented, if at all possible from making contact with anyone expressing an interest in and question about bitcoin.