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MTFE Review

Table Of Contents

Table Of Contents

🌐 Website
🏠 Company MTFE Group (Metaverse Foreign Exchange Group Inc.)
📌 Address 500-7030 Woodbine Ave Markham ON L3R 6G2 Canada
☎️ Phone +17787443998
📧 Email
⚖️ Regulation  Unregulated, Blacklisted, Scam


Today, our focus is on, a seemingly promising entity that has caused a stir within the financial community.

At a glance, presents itself as an appealing, professional forex brokerage platform, equipped with a FINTRAC registration number and a business registration number.

However, upon further investigation, it becomes increasingly apparent that this guise is merely a smokescreen for a much murkier operation, that of a potential Multi-Level Marketing (MLM) Ponzi scheme.

MTFE Details

MTFE, a digital trading platform, is a subsidiary of MTFE Group (Metaverse Foreign Exchange Group Inc.). This company allegedly located at 500-7030 Woodbine Ave Markham ON L3R 6G2 Canada.

For any queries or concerns, MTFE can be reached through their customer support hotline at +17787443998, or via email at

You can visit their website at:

Given the risk associated with online trading platforms, we strongly advise prospective investors to proceed with caution and undertake comprehensive research before engaging with MTFE.

For more information and to help you make a well-informed decision, feel free to browse our detailed reviews of other companies such as YazhiFX and Point Trading Markets (, which we have previously examined.

Understanding, or Metaverse Foreign Exchange, poses as a legitimate forex broker, offering users the opportunity to generate significant returns through trading. But a closer look raises several red flags which are worth noting:

  • FINTRAC Registration: While advertises a FINTRAC registration number, it’s essential to understand that this does not equate to a forex license. It merely suggests that the company complies with certain financial transaction regulations in Canada. A forex license is a completely different credential issued by specific financial authorities.


  • MLM Structure: exhibits classic characteristics of a Multi-Level Marketing scheme. MLM structures often require participants to recruit new members, forming an ever-expanding network of contributors. This recruitment-centric model raises suspicion as it is a common tactic employed by Ponzi schemes.
  • No Transparency: The lack of transparency is a concerning element of The company fails to provide substantial evidence of its trading activities or profitability. This lack of proof is a major cause for concern.

The Deception

Manipulative MLM Structure and Unsubstantiated Claims

Like many deceptive online platforms, lures potential investors with promises of high returns trough an affiliate program. We also identified several affiliates actively promoting MTFE’s services on Facebook, showing their commission structure.


However, these claims are often unsubstantiated and lack concrete evidence, making them highly suspicious.

MLM structures aren’t inherently malicious. However, when coupled with opaque business operations like those seen with, they often mask sinister intentions.’s MLM model appears to be a smoke screen for a potential Ponzi scheme, which relies on funds from new members to pay returns to older ones.

Usage of Legitimate Financial Regulations as a Disguise

Using a FINTRAC registration number is a cunning move by It projects a false sense of security and legitimacy, fooling unsuspecting individuals into thinking they are dealing with a licensed forex broker, which is far from reality.

As MTFE is based in Ontario, it should fall under the purview of the Ontario Securities Commission (OSC), the governing body responsible for regulating financial markets and brokers in the region.

However, after checking OSC’s website, we discovered not only does MTFE lack a license from this regulatory authority, but they have also received a warning from them, as evident below:



Previous Display of Australian Address

An intriguing aspect of’s dubious operations is their prior display of an Australian address – 704 Station St Box Hill VIC 3128. This address added an aura of legitimacy, lending the company a physical presence that typically reassures potential investors.

However, they have since removed this address from their site. This removal not only raises questions about the company’s authenticity but also suggests an attempt to erase traces of potential fraudulent activities.

The removal of this address could indicate a strategy to stay one step ahead of regulators or to create ambiguity regarding their actual location and jurisdiction, thereby complicating any potential legal proceedings against them. This behavior only adds another layer to the growing list of red flags associated with

Conclusion is a quintessential example of an online platform with dubious intentions, meticulously masquerading as a legitimate forex brokerage. While the site may boast a professional design and display legitimate financial registration numbers, it is clear that these aspects serve to distract from the lack of transparency, unsubstantiated claims, and a concerning MLM structure that strongly suggests a Ponzi scheme.

We advise potential investors to remain vigilant when encountering platforms like Always remember that if an investment opportunity sounds too good to be true, it often is. It’s crucial to thoroughly research and consult with financial professionals before engaging with any investment platform.

Got Scammed by MTFE?

If you have lost money with MTFE, stay calm. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.

The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – can help you.

5 Simple Steps To Get A Chargeback From MTFE

Follow our straightforward guide to efficiently reclaim your lost funds from MTFE with minimal hassle.

  1. Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with MTFE and prepare for the consultation.
  2. Get A Free Consultation: Schedule a free consultation with MyChargeBack team of experts. During this consultation, they will assess your case and offer guidance on the best course of action to recover your lost funds from MTFE.
  3. In-Depth Case Analysis: As you proceed with MyChargeBack, their expert team conducts an in-depth analysis of your case, identifying the optimal chargeback strategy for fund recovery based on your unique circumstances.
  4. Recovery Process: Their team of specialists scrutinizes your case, collects evidence, and negotiates with the involved parties to expedite the recovery of your funds. MyChargeBack team will consistently communicate with you and your bank or card issuer during the chargeback process.
  5. Fee Payment: Upon successful recovery of your funds lost to MTFE, MyChargeBack charges a fee as a percentage of the reclaimed amount. If fund recovery is unsuccessful, no fees apply, except in exceptionally complex cases.

Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from MTFE with minimal inconvenience.


What is, also known as Metaverse Foreign Exchange, is an online platform that presents itself as a forex broker. However, there are suspicions that the site operates as a Ponzi scheme, using an MLM structure.

Is a FINTRAC registration number the same as a forex license?

No, a FINTRAC registration number simply means the company complies with certain financial transaction regulations in Canada. It is not the same as a forex license.

What is a Ponzi scheme?

A Ponzi scheme is a fraudulent investment strategy where returns to older investors are funded by the capital from new investors, rather than legitimate business activities.

Why is’s MLM structure concerning?

MLM structures often require participants to recruit new members. While not inherently malicious, in’s case, it seems to serve as a smoke screen for a potential Ponzi scheme.

How can I protect myself from fraudulent investment platforms like

Remain vigilant and research thoroughly before making any investments. Always consult with financial professionals and ensure the platform has legitimate credentials and a transparent operation.

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