Medco Finance Limited Review: Signs That This Broker Is a Fraud
Drum Rolls please for our multi-language speaking broker called Medco Finance Limited. Sure, their website can pass a legit thing and they can attract more customers with the promise of multi-language speaking agents but the thing is, once you take a deeper look at their website, you will see that a lot of things don’t make sense.
The Medco Finance Limited website is half in Polish and half in English, so understanding it without any knowledge of Polish can be very hard. In other words, if this is not your native language, you won’t be able to follow or understand anything. And that is just one of the many red flags we have found about this broker.
So without further ado, let’s begin this Medco Finance Limited review where we will cover all the things this investment scam has done.
|Company||Medco Finance Limited|
|Regulation||Unregulated scam broker|
|Address||Sweetwood Drive Street, Boulder, Colorado 80302|
|[email protected] and [email protected]|
Medco Finance Limited Regulation and Safety of Funds
Regulation and license are the most fun part of any review, simply because we are always amazed to see to what lengths fraudulent brokers like to go just to look legit.
Medco Finance Limited is the brand name of medcofinance.vip, which is presenting itself as a company that is said to operate from Colorado, US. But in order for this to be true, the firm must comply with the strictest regulatory demands that are tied to choosing the US as its headquarters.
This means that in order for Medco Finance Limited to really be a US-based company, they need to have regulation and license from CFTC. But it’s safe to say that Medco Finance Limited didn’t comply with the rules set by CFTC and they don’t hold any license from them either.
Additionally, CFD trading is prohibited in the US and that means that this broker is not actually allowed to onboard any residents from the USA.
On top of that, there also isn’t any mention of the Medco Finance Limited broker in any Tier 1 regulator’s registers, which just confirms that they are an unregulated offshore entity. We also want to warn you about Vertex Market, as they also hold no regulations and they operate offshore.
Trading Platform Overview
Medco Finance has advertised itself as a proud owner of both the industry standards by now, MetaTrader4 and MetaTrader5 trading platforms.
Because they have advertised that big claim, we had to check that to see if that is even true. You can imagine our surprise when we saw that they offer nothing more than the basic Web Trader that is not even close to the MetaTrader 4 and 5.
We need to inform you that just because there is some kind of trading software, there is actually no guarantee that this is a genuine broker. It’s a well-known fact that many illicit scammers often use rigged trading platforms to fool their victims that their money is actually being invested but instead, they actually put that money into their pocket.
Account Type Offered at Medco Finance Limited
On the Medco Finance Limited website, we saw that they offer five different account types and those include the following:
Beginner – €100
Silver – €2,500
Investor – €20,000
Premium – €100,000
Gold – €200,000
The only account that offers FX trading is The Beginner account, while clients can access all the assets from the Premium one. They also stated that each account brings more “insured trades.” We don’t think this is true.
Don’t fall for this as this is a common scam that implies that the broker will cover your trading costs in case of losses. That is not true; this tactic will get you to invest even more money.
Funding Method Available
Medco Finance Limited offers the following deposit methods:
- Visa or Master debit or credit card
- Wire transfers
That is a good array of options but they don’t actually have a functioning deposit menu. That is more than enough for us to know they are just poorly done scammers.
And since Medco Finance does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Usually, scam brokers don’t actually allow any withdrawals and they set some high turnovers which makes it even more impossible to do so.
How is Fraud Orchestrated?
There are many shady tricks brokers like Medco Finance Limited or Athens Markets pull to get their potential clients to invest. People can often be careless and leave personal information on the internet in hopes of securing the high profits that many ads promise.
And once these investment scams get a hold of this information the harassment will likely start. You will soon be overwhelmed with an enormous number of emails at first but then calls just so you will at least make a minimum deposit to this fraudulent broker. Be prepared to hear many made-up stories so they would appear more legit in your eyes.
Don’t feel ashamed if you have ever fallen victim to this type of deception, many people do, just be sure to report your scammer and file a complaint with your bank as soon as possible.
Medco Finance Limited Summary
This Medco Finance Limited review was conducted to show you how this alleged US-based scam broker operates. However, any broker that is operating from the US should be regulated by one of their regulatory bodies which this one is of course not.
With this scam broker you will allegedly have an opportunity to invest in forex, commodities, indices, and shares, or realistically just get your money stolen.
Don’t be fooled by the fact that they are not operating anonymously as they likely just lied about their address and everything else you can see on their website.
Think twice before taking any risks while investing money and remember that this investment scam will demand at least €100 while legit brokers will ask for as little as $5 as an initial deposit.
FAQs About Medco Finance Limited Broker
What Can I Trade with a Medco Finance Limited Broker?
With Medeco Trade Limited you can trade the following assets: forex, commodities, indices, and shares.
What are the Available Methods of Withdrawal?
Medeco Trade Limited allows withdrawals through wire transfers, credit/debit cards, and cryptocurrencies.
Is Medco Finance Limited Broker Regulated?
This broker is not a licensed or regulated firm you can trust when it comes to trading so it’s best to avoid them.