Martyn Services Review – Lies Behind This Broker
Martyn Services Review, The non-functional website has already earned itself a ban and a warning from one of the world’s leading regulatory bodies – FCA.
When the circumstances surrounding a business are so grim, you can imagine who is behind Maryn Services broker. A fake broker, that is, considers their lies about regulation and foul play to deceive customers and eventually rob them.
Our Martyn Services review is here so you wouldn’t miss any details about this clone firm of a legitimate company existing for 20 years. The latter has its own website and isn’t martynservice.com, which is currently not operational.
Because Martyn Services has had several domains that have displayed fraudulent behavior and they’re a clone of a legal firm, FCA has published a warning against them:
Another warning came from the Belgian financial institution:
In addition to the above, we strongly advise you not to invest in FxmyTrades, Virtual Fxtrade, and Futurebotstrade fraudulent brokers.
|Company||Martyn Services Limited|
|Minimum Deposit||250 EUR|
|Bonuses||Initial deposit bonus up to 70%|
Is Martyn Services Trustworthy? Regulation and Security
The single fact that should guide your train of thought concerning Martyn Services is the warning published by the British financial watchdog. FCA has quickly detected their fraudulent activities under the mask of a company regulated by none other than FCA itself.
When the scammer takes on the identity of a famous Forex professional or steals data from a regulated company, they’re called a clone firm. Martyn Services has offered fake services to UK traders without an appropriate license. FCA has, therefore, warned the public about their dirty motives.
The only address given on the website was the UK one. This would imply the existence of an FCA certificate if Martyn Services was fully legit. But to earn this prestigious license, brokers have to go a long way first.
From segregated bank accounts for the safest keeping of clients’ deposits, to leverage restriction to 1:30, to negative balance protection. Aside from lower trading risks, clients have the benefit of using a compensation fund when the firm doesn’t manage its finances properly and fails to pay the user.
Eventually, Martyn Services would have to be fully transparent, disallow bonuses and submit daily reports on their transactions. Does a scammer sound like doing any of that? Of course not! Hence, we have no reason to believe their credibility, and neither should you, especially with the public alert put on them.
Martyn Services Trading Software Overview
Not only does this broker pose as a fully regulated broker, but they also advertise leading software solutions like MetaTrader. Nothing but a dream, this claim is quickly rebuked when you actually get to preview their trading terminal.
A basic web trader is all there is to trading at Martyn Services. No match for the real MetaTrader platforms, this bogus software barely has anything functional about it. There are several indicators and some primitive customization tools.
Far from enough even for an amateur trader, we could relate this software to a number of others used by common fraudsters. The abundance of these overly simplified distributions is explained by their subjectiveness to manipulation.
Martyn Services Account Types Offered
|Broker||Martyn Services||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
|Minimum Deposit||250 EUR||$10||$100||$100||$5||$5||$100|
Account types at Martyn Services are designed to sound alluring, not realistic. To make investing such incredible amounts of money sound reasonable, the fake broker doesn’t shy away from promising unrealistic services. Martyn Services even declares to provide risk-free trades, which is impossible when trading on the foreign currency exchange market.
These are the accounts available:
- Beginner – 250 EUR
- Silver – 2,500 EUR
- Investor – 5,000 EUR
- Premium – 10,000 EUR
- Gold – 50,000 EUR
The variety of funding methods at Martyn Services differs. Contrasting to any AML policy imaginable, this faux broker offers varying methods for deposits and withdrawals. At first, we saw credit cards, e-wallets, and crypto advertised but cards and wire transfers were only available.
This has its good sides, as credit cards (Visa, MasterCard, Maestro) allow you to issue a chargeback. If you have deposited here already, we advise you to request a refund with your credit card issuer immediately!
By omitting the crucial intel on withdrawals, Martyn Services has prevented us from finding out about the processing time and fees.
How the Scam Was Performed
The broker has a dozen or more of their agents creeping and lurking around the social networks for new victims. The target they would usually set their sights on is a less experienced trader that is probably just now starting off.
Every day traders are already aware of the dangers that Martyn Services and similar impose on their investments.
Anyhow, this con artist has made sure their alleged services sound irresistible and like a certain win. When you’re a beginner, optimistic, and full of enthusiasm, you can easily be manipulated into risky trades. Martyn Services would use your lack of experience to its advantage and scam you.
How do they ensure the transactions are final? By not allowing you to make a single withdrawal. What helps them do that are high fees you are not informed about prior to the withdrawal. There is also the hair-rising trading volume requirement which they use to deny all your attempts or lock your funds.
Forex Brokers We Suggest
Why invest with an unauthorized site and worry when you can safely deposit with a regulated broker and trade how you, please? The brokers with proprietary certificates are being overseen by jurisdictional regulators.
This is how the safety of every client is ensured. In order to keep their legitimate business running, the firms we suggest are all respective of the regulatory framework. The lawful behavior leads to more content customers, growth of the company, and a better reputation.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Martyn Services Summary
Threading among shady companies looking for a good broker is like swimming with piranhas. Martyn Services is one of the predators and they sure bite hard if you only give them a chance.
But, the public announcements against this hunter of inexperienced traders have raised awareness of their shameful tendencies.
If you don’t intend on becoming another victim of the gigantic scamming machine, you have to invest more time and patience, not money. Use any moment available to better inform and educate yourself before investing. We’ll be glad to help you along the way, so chat us up any time.
FAQs About Martyn Services Broker
Is My Money Safe with Martyn Services?
Not even the smallest investment is safe with this swindler. Not abiding by the regulatory measures means they cannot guarantee the safety of funds.
Does Martyn Services Offer a Demo Account?
No, this fake broker doesn’t offer a trial account with virtual funds, only live trading accounts are an option.
How Long Does it Take to Withdraw from Martyn Services?
This information is not available anywhere on the site or in the legal docs that Martyn Services provides. Another red flag pointed at this broker’s illicit operation.