MBInvest Reviews – Who is Behind MBInvest Broker?
MBInvest, In this article we will take a look at and present you with the information we’ve uncovered while trying to research this would-be business.
What we are dealing with is a very nicely packed fraudulent project which utilized a legitimate-looking website, making its victims feel like they are doing business with a legitimate broker when they are in fact being tricked by a sophisticated scam.
Just to be clear, we are talking about the MBInvest scam which previously used the mbinv.eu domain which is currently defunct.
Having said this, we were unable to ascertain who exactly is behind the online trading scam but it is clear that the mastermind behind the whole operation is an unscrupulous broker and a financial swindler.
|CBI, Finanstilsynet, CONSOB
Is MBInvest Reliable? Regulation and Fund Security
MBInvest has no legal regulation which would protect its clients, so the short answer is: no, MNInvest is under no circumstances a reliable business.
The illicit broker’s webpage claims to be operated by Money Markets International Limited which is supposed to have its headquarters in Dublin, Ireland.
This would mean that they are authorized and regulated by the Central Bank of Ireland, yet there is no mention of a license of any sort.
A crucial point, when talking about unlicensed brokers, is the fact that clients of these untrustworthy brokerages have no legal protection whatsoever.
This is why you should be informed about how the brokerages you plan to invest in operate.
Another big red flag for MBInvest was the terms and conditions section of their website where they claimed to be operating under UK laws which would require them to be licensed as a legitimate forex trader by the FCA of the UK which, of course, they are not.
They are not licensed by anybody, anywhere, and we are clearly dealing with an internet scam through and through.
If this was not enough to convince you that MBInvest is in fact a fraudulent project, you should know that several institutions have issued warnings against the firm.
The Central Bank Of Ireland reports that MBInvest is actually pretending to be another company that does have a CBI license.
The Italian CONSOB also issued an official warning against the fraudster and even ordered internet service providers in Italy to block access to these sites.
At last Finanstilsynet of Norway copied CONSOB’s warning and also blocked access to the MBInvest site in Norway.
Overview of MBInvestTrading Software
MBInvest doesn’t get too creative when it comes to the trading instruments they use. Instead of using an industry standard such as the MetaTrader4 or MT5, they chose a web trader platform favored by other bogus brokers.
The platform itself looks professional, and if you have no previous experience with a trading platform you might mistakenly believe that you are operating a legitimate trading software when you are simply being scammed.
What Trading Account is Available at MBInvest?
MBInvest offers its clients 5 different types of trading accounts, including micro, silver, gold, platinum, and exclusive.
The minimum deposits for these accounts range from 250$ up to a whopping 200 000$ with the exclusive trading account.
Other than minimum deposits, these accounts differ in the spread, leverage, and various perks that they offer, such as support or educational webinars.
MBInvest’sDeposit and Withdrawal Methods
The minimum deposit at MBInvest is another thing that is left unclear as different parts of the site would mention different amounts of money, ranging from 100$ up to 300$.
MBInvest accepts payment through Visa and Mastercard, as well as bank wire transfers, bear in mind that wire transfers are not refundable.
The company claims that withdrawals are processed within 5 days and that the minimum amount you can withdraw is 500$.
In reality, sending your money to MBInvest is pretty much the same as throwing it into the ocean, you will most likely never see that money again.
Here’s How the Scam Works
The scam itself is nothing new. Much like other scam brokers, the MBInvest scam leads its victims through a series of steps beginning with an attractive clickbait ad that takes the user to a fake online site where unsuspecting victims leave their contact information.
After this comes to the first contact. At this point, scammers will invest a lot of effort into getting you to become their client.
This is done through phone calls, e-mails, and even messaging on any messaging app you might have installed on your phone.
The illicit broker will say pretty much anything in order to get your money. As a general rule of thumb: if something sounds too good to be true, it probably isn’t true.
It should be crystal clear by now that MBInvest is just another investment scam in a long line of nicely packaged online scam brokers who are subjected to no regulation whatsoever.
The fortunate fact of their site being offline is clearly pointing out that this is another fraud. Don’t risk your investments, rather find well-known and trusted brokers with whom you can invest your money.
FAQs About MBInvest Broker
What is MBInvest's Minimum Deposit Requirement?
Different sections of the site indicated that the minimum deposits with MBInvest range from 100$ to 300$.
What Trading Accounts are Available at MBInvest?
MBInvest offers 5 different trading accounts with varying offers and perks.
What Account Types Does MBInvest Provide?
Other than the trading account, MBInvest offers its users a demo account, which they can use to freely explore the market and practice investing without actually spending any real money.