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About WikiFX

Score

0 1 2 3 4 5 6 7 8 9
.
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10
The broker's WikiFX Score has been lowered due to a high volume of unresolved client complaints.

MTFE

Canada Canada | 5-10 years |
Scam Brokers | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

http://www.mtfe.ca/

Website

Rating Index

Regulation 2.69 Tech 4.32 Reputation 3.26 Business 6.39 Risk Control 0.00
1.23

Contact

http://www.mtfe.ca/
500-7030 WOODBINE AVE MARKHAM ON L3R 6G2
The broker's WikiFX Score has been lowered due to a high volume of unresolved client complaints.

license Forex License

risk

No forex trading license found. Please be aware of the risks.

This platform is a Ponzi Scheme. Please stay away!
  • This broker has been verified as unauthorized. All of its previous licenses have expired, and it has been placed on WikiFX's Scam Brokers list. Please be aware of the high risk.
5

Basic Information

Registered Region
Canada Canada
Operating Period
5-10 years
Company Name
MTFE Group
Company Website
Address
500-7030 WOODBINE AVE MARKHAM ON L3R 6G2
Anu85

Anu85

Unverified

Sri Lanka

several days i tried to login to my account. at that time error massage come incorrect account or password. company not support to change the paasword.

ノレレ乇Ǥムレ0レv

ノレレ乇Ǥムレ0レv

Unverified

Algeria

Mu name is sofian Alzghoul, I've been an Investor in MTFE for two months account ID (1557908) Today on November 29th 14:40GMT I opened up a position in the application and due to the application bugging I lost all of the Trading margin that I opened up the deal with along with what I had in my net account value that I didn't enter the position with. I'm sad to report that after all the work and the profits and losses I had this was the worst since it was a SEVERE SLIPPAGE although I tried to close the deal before that happend more than two times (proofs in attachments) but due to the application bugging for about 3 minutes with the position open ,even the chart wasn't showing for me nor was there anychanges in the position as I was trying to close out on (700usd in loss). This bug didn't happen to ME ONLY ,I have 3 freinds that I know of who lost all investment over this bug too. The application has a stop lose mechanism that that didn't work too in a message with the support the said at 70% loss it should stop lose automatically although I had it at 30% manually , but instead the closing method for me was a BLOW OUT ,it even took what I had in my net account value with that one deal. Trading margin for this deal was 3163, and the rest of the fund was I started my investment journey with 3000USD had it up to about 4500USD and now my account is -10k which isn't logical and shouldn't happen if the stop loss had happened (proofs attached). I hope you mitigate this issue since the support team blamed this on market and investments risks and neglect the fact that the stop loss function didn't work and the application freezing in the middle of a transaction. I hereby appeal to a compensation since my loss was due to the application bugging in the middle of an opened position and even the automatic stop lose or the manual stop lose I had installed didn't work and lost the funds I used for the deal plus the funds I didn't use (had them in net account value).

salbad

salbad

Unverified

Jordan

this month was hard for most of my members to withdrawal and when they talk with costumer service they said be patient they rejected 9 from 10 and allowed for 1 person to withdrawal then last week more then 80 people from my members withdrawal in Tuesday last week until today no one get and yesterday send a signal for us and took all our money ...so please this app will close soon so be careful

FX9615844052

FX9615844052

Unverified

India

in India too may persons are using its robo trading facility

Neutral

sudesh

sudesh

Unverified

Sri Lanka

My two positions were blown up and when I contacted the coustomer service they never responded. I could save my money suerly.

EmranSirajy

EmranSirajy

Unverified

Bangladesh

They put me on the street and put all the money in here after borrowing money

BuraQ

BuraQ

Unverified

Pakistan

Mtfe platform index all fake currency and hand control.. many people loss menoy in Mtfe platform .. loss menoy reason fake currency

getremo

getremo

Unverified

India

MTFE is collecting huge fund from India, Bangladesh and Africa through 3 Level Commission through its MLM program. It is taking high spread and Commission, so that no one can make profit by manual trading. All clients who have account with MTFE are forced to use their AI Trading which enables them to loot all public funds in a single trade one fine day. All traders be careful

27
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模块说明(前端未翻译)

  • mtfe.ca
    52.128.241.50
    Server Location
    Hong Kong Hong Kong
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    --
    Website Name
    --
    Company
    --

Company Profile

Company Profile

Review summary

General Information

MTFE (METAVERSE FOREIGN EXCHANGE GROUP INC) is a Canada-based financial institution, providing access to a range of financial markets, including Forex, Commodities, Indices, Stocks.

Regulatory Details

MTFE (METAVERSE FOREIGN EXCHANGE GROUP INC). companies provide services in accordance with local regulations and have their own licenses and licenses to operate services. MTFE is regulated by the Canadian FINTRAC - Money services business. Authorized Regulatory Authority (MSB). (No.: M22076570) provides corresponding financial services to professional and institutional clients.

Market Instruments

MTFE does not provide any advice or opinion on the purchase, holding or sale of its trading products. All products this broker offer are OTC derivatives based on global assets. All Services provided by MTFE are based solely on execution of trading orders.

With MTFE, investors can get access to the following financial markets:

  • Forex currency pairs

  • Commodities

  • Indices

  • Stocks

  • Cryptocurrency

Account Types

MTFE fails to provide various tiered account options, only a live account and a demo account available. You have to admit that free training account plays a vital role in making you get familiar with this platform, practice your trading strategies without risking your real capitals.

Trading Volume

Trading particular instruments on MTFE on this platform, you need to figure out its minimum and maximum trading volume. Here is what MTFE sets: minimum transaction 0.01 lot, maximum trading transaction 20 lot. Trading hours varies depending particular trading assets.

Spreads & Commissions

Believe or not, spreads offered by this MTFE is much higher than many other brokers, and thats the reason why we suggest you to choose a better alternative.

spread-comission

Trading Platforms Available

However, lack of MT4 or MT5 trading platform makes this broker less reliable, overall. What this broker provides is their proprietary trading platform that can be downloaded on any devices, including IOS, Android, and Web devices.

Deposit & Withdrawal

MTFE leaves us nothing concerning payment methods supported, only one promise: Withdrawal request will be processed quickly, and funds will be deposited into your bank account immediately.

I Would say it is weird for a broker to do so.

Customer Support

MTFE seems to offer 24/7 multilingual customer support, which can obviously stand out among many competitors. I tested its online chat support, and their customer support staff did have a good performance, answering my questions responsively and professionally. More diversified contact channels, like phone, email, social media platform, etc, are not available.

Restricted Regions

Please note that MTFE doesnt accept traders from the United States, Belgium, Iran and North Korea.

Company Profile

  • Scam Brokers
  • 5-10 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • High Potential Risk

News

MTFE Blocks Withdrawals and Gives Fake Signals

Exposure MTFE Blocks Withdrawals and Gives Fake Signals

Beginner traders frequently use forex signals to increase their success rate and enhance their trading experience. However, many need to be made aware that as much as signal trading sounds convenient and easy, it also has many underlying risks.

  The trader is so furious about this!

Exposure The trader is so furious about this!

MTFE recently opened multiple operation centers in the Middle East and South Asia. This broker seems to be growing too rapidly to be trusted. In addition, WikiFX received a lot of exposure from traders against MTFE. We wonder if MTFE is reliable. In today’s article, we will show one of those cases of how MTFE scammed people out of their money based on the evidence gathered by WikiFX.

CHARITY: MTFE BD TEAM MTFE Group distributes supplies to depressed and needy people

News CHARITY: MTFE BD TEAM MTFE Group distributes supplies to depressed and needy people

On March 7, 2023, MTFE’s Bangladesh team will distribute supplies to local "depressed and needy people" in Bangladesh. The slogan is "MTFE Group is always with the world's depressed people". 

MTFE Nigeria Guideline

News MTFE Nigeria Guideline

​Recently, MTFE has been sought after by many people in Nigeria. It is reported that the group started its globalization strategy in June last year, and has established more than 100 offline operation service centers in more than 20 countries around the world.

MTFE is gaining its popularity in Bangladesh

News MTFE is gaining its popularity in Bangladesh

Combining its AI technology with real-world financial trading

MOBASSHER IBAD, CEO OF MTFE DUBAI, ATTENDS THE NEW MTFE OFFICE LAUNCHING PROGRAM AT ROLEX TOWER

News MOBASSHER IBAD, CEO OF MTFE DUBAI, ATTENDS THE NEW MTFE OFFICE LAUNCHING PROGRAM AT ROLEX TOWER

On February 14, someone associated with MTFE released a video on YouTube. In this video, we can see that the forex broker, MTFE, launched a new office program at Rolex Tower, Bur Dubai. The CEO of MTFE Dubai, Md. Mobassher Ibad, has attended this new official launching ceremony program.

View More

Wiki Q&A

Is MTFE safe and reliable?

According to WikiFX data, MTFE Group holds a core score of 1.49 out of 10, reflecting significant regulatory and operational concerns. The entity is unregulated and lacks any valid authoritative forex trading license, which places it in a high-risk category. Users should be aware that the absence of credible oversight increases the likelihood of issues such as withdrawal delays and platform instability.

07-16
United States

Is MTFE regulated?

No, MTFE is not regulated by any major financial authority. The only regulatory entry is an unverified Appointed Representative (AR) license under the Australian Securities & Investment Commission (ASIC), held by TOP 1 MARKETS PTY LTD. This license status is marked as 'Unverified,' meaning it does not provide valid regulatory protection. WikiFX assessment indicates no valid forex trading licenses are currently in force.

07-16
United States

What is the minimum deposit of MTFE?

MTFE does not publicly disclose its minimum deposit requirement. Prospective traders should note that without clear account opening terms, it is essential to verify such details directly with the broker or through official channels before committing funds.

07-16
United States

Does MTFE support MT4 or MT5?

Information regarding support for MetaTrader 4 or MetaTrader 5 is not publicly listed by MTFE. The broker appears to rely on a proprietary trading application, as evidenced by user reports of app malfunctions and trading issues. Traders seeking specific platform support should confirm with the broker’s official resources.

07-16
United States
View More

User Feedback27

This broker has not yet registered on WikiFX, so we cannot communicate user feedback for it.
ノレレ乇Ǥムレ0レv
ノレレ乇Ǥムレ0レv
3-5 years
application bugging during trade caused losing all
Mu name is sofian Alzghoul, I've been an Investor in MTFE for two months account ID (1557908) Today on November 29th 14:40GMT I opened up a position in the application and due to the application bugging I lost all of the Trading margin that I opened up the deal with along with what I had in my net account value that I didn't enter the position with. I'm sad to report that after all the work and the profits and losses I had this was the worst since it was a SEVERE SLIPPAGE although I tried to close the deal before that happend more than two times (proofs in attachments) but due to the application bugging for about 3 minutes with the position open ,even the chart wasn't showing for me nor was there anychanges in the position as I was trying to close out on (700usd in loss). This bug didn't happen to ME ONLY ,I have 3 freinds that I know of who lost all investment over this bug too. The application has a stop lose mechanism that that didn't work too in a message with the support the said at 70% loss it should stop lose automatically although I had it at 30% manually , but instead the closing method for me was a BLOW OUT ,it even took what I had in my net account value with that one deal. Trading margin for this deal was 3163, and the rest of the fund was I started my investment journey with 3000USD had it up to about 4500USD and now my account is -10k which isn't logical and shouldn't happen if the stop loss had happened (proofs attached). I hope you mitigate this issue since the support team blamed this on market and investments risks and neglect the fact that the stop loss function didn't work and the application freezing in the middle of a transaction. I hereby appeal to a compensation since my loss was due to the application bugging in the middle of an opened position and even the automatic stop lose or the manual stop lose I had installed didn't work and lost the funds I used for the deal plus the funds I didn't use (had them in net account value).

Algeria

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※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qa@wikifx.com
Cooperation:business@wikifx.com