- Know the truth about Markets Xchange
- About the company
- Are they registered and regulated?
- Why are there traders that are making use of Markets Xchange
- No proof about the platform that they claim to use
- High minimum deposit requires
- Blacklisted by many regulators
- Not having clear terms and conditions
Everyone knows that before you are using a website or deposit any money that you should do your homework first. This is the same when you are choosing your forex broker. There are quite a few brokers, and choosing the legit ones are really hard.
Markets Xchange is one of the forex brokers that you can make use of for trading. There are a couple of traders that are making use of them, but this doesn’t mean that they are legit and trustworthy. In fact, with further investigation, we found that they are one of the least trustworthy brokers that you can use. These are the things that you should know about them before you can even consider making use of them.
Markets Xchange is a forex and CFD broker. They are trading in cryptocurrencies. This broker is located in the Marshall Islands and also claims to be registered in the Marshall Islands. However, there is no legit proof that this is the case.
There are also claims that they are licensed in Ireland, but there isn’t any proof of that. No registration number and not any proof that they are registered in any country. With the history of the company, there is also not much valid information. Not really an address, email address or telephone number. It doesn’t all proved to be legit.
Markets Xchange brokers claim that they are registered. In more than one country. However, with further investigation, it has been proven that they are actually not registered at any legal company. Meaning that they are actually lying about their claims that they are registered.
Looking at reviews of regulators and traders that have made use of them, there are many complaints and warnings. Warnings that they aren’t legit and that they might be taking traders for a ride. So, the bottom line is that they aren’t registered and they aren’t regulated.
With all the warnings and bad reviews, why are there still traders that are making use of Markets Xchange? This is because of the false information that they have on their site. And, the platform that they are claiming to use for trading.
The different currencies that they are trading is also a great way for traders to make money. But, at the end of the day, there are very little of these traders that are making actual money with this forex broker. The brokers are doing everything possible to get traders to sign up with them and to pay the deposit. They will even lie for it.
When you are reading about Markets Xchange, you read that they are using MT4. MT4 is the top and most reliable platform for trading. But, with further investigation, it came clear that this is also not the truth. There is no real evidence that they are making use of MT4.
There is no demo account available where you can see if they are actually making use of this platform. And, once you have paid the deposit, it will be too late to realize that they have lied about something else again. Using the right platform for traders is really important.
This is the one thing that should give you a red flag. The minimum deposit that you are allowed to make. You need to realize that with the trustworthy brokers, you can use as little as $1 as a deposit for trading. With Markets Xchange you need to have a minimum of $1000 as a deposit before you can start trading. This is a lot of money to lose if they aren’t legit.
Normally when you are looking at the minimum deposit, you can get a clear picture if they can be trusted or not. Those with a small minimum amount limit and those that have a demo account is those that are more trustworthy than those that don’t have these features.
One of the most important reasons why you should stay away from Markets Xchange. They are blacklisted by a couple of regulators. This is because of the fact that they aren’t registered and because there are some irregularities about the company.
Because they are blacklisted should give you a clear indication that they aren’t the best brokers to use for trading. And, that you should rather start looking for other, more reliable brokers.
A concern that regulators have, is the terms and conditions that Markets Xchange has. The terms and conditions aren’t standard for forex brokers. There is room for changes that might leave a trader without an account and without their deposit. It is really important that you should make sure about the terms and conditions of a broker that you are going to use. So, that you don’t fall into the trap of unclear terms and conditions.
If you want to know if Markets Xchange is legit and real, then you will have your answer now. No, they aren’t legit and they aren’t registered. You are going to take a risk if you are going to use them as your forex broker. They aren’t regulated, so they can actually do just about anything they want to, without any consequences. If you think about using Markets Xchange, you need to know that you might just regret it.