MondialFx Review: Is mondialfx.com Legit?
MondialFx Review, Well if it isn’t another offshore firm that likes to think of itself as a Vie Finance regulated brand with the best trading conditions on the market.
The website that our MondialFX review covers spills blatant lies without responding to any legal entity. MondialFX isn’t subject to the oversight of any financial authority because their residence turns out to be SVG.
One of the leading regulators in the EU, the Italian CONSOB, has blacklisted MondialFX after receiving reports from the fraud victims. You can find the warning from Dec 2022 here:
Shortly after the publications, the site went out of business. Nothing, however, stops this con artist from coming back, with a new creative name and toxic scheme. What’s more, we strongly recommend that you avoid the fraudulent brokers Tesler, CTX Prime, and Investous.
|Address||30 St Mary Axe, London EC3A 8BF, United Kingdom (claimed but false) / SVG|
|s[email protected] [email protected] [email protected]|
|Warning||CBR, CONSOB, Finanstilsynet|
MondialFx Reliability – Regulation and Security
There’s not much left to say about SVG and its problem with not regulating broker sites. Being a lawless offshore zone, fake brokerage brands swarm like mosquitoes here.
With no supervisory body, they can set up faux brokerage websites and layout investment traps. Every less informed trader can fall into one. MondialFX discloses their real location in the T&C doc, but the site shows a UK address and phone number in an attempt to look honest and credible.
They do not own an FCA license, which is one of the world’s toughest to get. Thanks to the public database of all the brokers they oversee, FCA showed us the truth about MondialFX.
The other key elements that helped our investigation were the three warnings by the Italian, Norwegian and Russian regulators. This further points to the fact that MondialFX doesn’t provide the highest security of funds through the segregation of investments.
Leverage restriction is set to 1:30, which MondialFX advertises too. It would be incredible if true, but when we saw the spreads starting at 0.1 pips, we were certain this info was fake.
The lies, blacklists, and anonymity witness MondialFX’s unscrupulous motives and activities. Do not trust them under any circumstance!
Trading Platform Available at MondialFx
Account opening seems to work seamlessly with MondialFX. Until you wish to place your first trade and discover you can’t even get to the trading terminal. The obstruction is the verification, which we couldn’t acquire without providing any sensitive ID details.
No one should accept sharing their credentials with a completely anonymous site that MondialFX.
Because of such a turn of events, we had no liable strategy of getting to the trading platform. Overcomplicating the registration process is a method scammers use to carefully filtrate their potential victims. But to us, this was a hint about MondialFX not having any functional trading terminal at all!
MondialFx Account Types
|Broker||MondialFx||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
Don’t expect MondialFX to go above and beyond in order to provide users with highly customized account types. Regulated brokers do this, however. They lay out detailed instructions on what each account brings, along with the pricing and conditions.
MondialFX doesn’t have an option of trading with virtual funds for a limited period of time. You can open a live trading account that you won’t be able to learn anything about, including what it does and what benefits it carries. How typical of a scammer to keep their customers in the dark and oblivious of anything.
MondialFx Deposits and Withdrawals
The abundance of crypto deposits among scammers is because of the anonymity of these transactions. They’re also final. So you deposit at least $200, how much MondialFX requires, and the instant transfer passes the money to the fraudster. You have no idea where it went and you cannot ask for a chargeback. Pretty messed up, isn’t it?
In the Terms and Conditions, withdrawal time isn’t stated and neither are the fees following it. MondialFX only reveals the presence of a dreadful $50 inactivity fee, which they charge monthly and after 30 days of not trading.
How is the Fraud Delivered?
The final goal and ideal that MondialFX seeks to achieve is pocketing their victim’s money. To get to it, they use some more or less common methods we’ve already reviewed before.
A prevalent way of luring the targets is through fairytale promises of wealth and gain. When the sufferer accepts their proposal, they start investing, without a slightest idea what they’ve got themselves in.
Quickly enough, though, traders realize they’re neck-deep into the scheme they can’t easily get out of. What prevents them are huge fees, unexpected charges and taxes and the unethical trading volume requirement.
Recommended Forex Brokers
MondialFX can’t meet the basic trading environment requirements. Nor can they provide the safety we’ve talked about already. Why would you ever want to deal with one such company when there are hundreds of better ones to choose from? We’ve selected a couple of exceptional brokers to suggest to you instead of MondialFX.
The companies we’d like you to check out offer fair trading conditions, affordable features, and the fastest trading software. Besides the basics, these firms can offer you planning services and advice from professionals and Forex specialists. There’s much more to them than just trading, take a look and explore more on their websites.
|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|
Our straightforward MondialFX review points to the potential risks of dealing with bogus brokers. MondialFX, being one of the crypto fraudsters, exhibits some traits corresponding to other swindlers of this type. The dangers they impose on less informed and less experienced investors are huge and this review is an open warning.
You too can contribute to spreading awareness by sharing your knowledge of this or any other scam. In return, we can offer a piece of advice or some more info you seek. So don’t hesitate and contact us at any time.
FAQs About MondialFx Broker
Is My Money Safe With MondialFx?
No amount of investment is safe with a bogus broker that only defrauds their customers.
Does MondialFx Offer a Demo Account?
The only account type available at MondialFX is the live trading account. Not even a Demo account is available.
Is MondialFx a Trustworthy Broker?
Without a license and regulation to confirm their legitimacy, this broker is not trustworthy. Even more so because there are several warnings published against them.