The MEX Atlantic scam may not be obvious at first glance, but – it’s an offshore entity located in the Cayman Islands. Since overseas zones don’t provide any fund security for the trader, it’s advised not to try investing there. The trading endeavor is risky and shouldn’t be taken lightly at all.
It’s stated that this firm is a part of Multibank Group, established in 2005. This is a US-based company that holds many regulations, but the fact that they chose such a notorious offshore HQ puts them under a question mark.
Read this MEX Atlantic review further to find out more valuable information.
|Address||4th Floor, Harbour Place, 103 South Church Street, Grand Cayman KY1-1002, Cayman Islands|
|Leverage||Up to 1:500|
MEX Atlantic Fund Security and Regulation
Cyber security experts recommend checking the brokerage before considering trading. It’s a very important step to check the regulations to save time and money. In this MEX Atlantic broker review, we did it for you.
We were disappointed to find out that this corporation has nothing to do with any of the reputable license providers. The only regulation they possess is CIMA (Cayman Islands Monetary Authority), which is a very loose license.
Indeed, they are registered in CIMA’s database, but since they don’t possess any high-tier regulation, they’re untrustworthy.
Moreover, offshore zones are not subject to any control, and trading companies settled there to represent a great danger to clients’ funds. Go ahead to learn more about this investment scam.
A Summary of the MEX Atlantic Trading Software
Keep in mind that trading is a very risky business and whether you’re a beginner or an expert, you need the best tools available to provide you with the most information possible.
Here we have nothing bad to say about MEX Atlantic since it gives access to the MetaTrader 4 and MetaTrader 5.
These two are the most reliable and prominent platforms in the industry since they deliver many useful tools and features, such as automated trading, for example.
They are available for Windows, Android, and iOS, but also as a web-based platform, accessible through the browser.
As for the trading instruments, these below are available, with examples:
|Forex (AUDUSD, EURUSD)|
|Metals (XAUUSD, XAGUSD)|
|Shares (AAPL, AMZN)|
MEX Atlantic’s Deposit and Withdrawal Procedures
Legitimate brokers provide nothing else but transparent ways of funding your account. It’s surprising to find out that MEX Atlantic provides common ways of depositing and withdrawing money.
There are 3 available investment plans, along with a Demo and Islamic accounts.
Of course, for different account types, there are different minimum deposits:
There is no commission information on any of the accounts, and the leverage goes up to 1:500. That’s against every regulation provided by the EU, the UK, and Australia.
Higher leverage means bigger profits, but it increases the risks of sudden losses drastically.
Also, there are several ways of depositing and withdrawing money:
|Way of payment||Minimum deposit|
|Crypto (BTC, USDT ERC20, USDT TRC20)||$50|
|E-wallets (Skrill, Neteller)||$50|
Even though MEX Atlantic is hiding behind a reputable name, you will most certainly encounter withdrawal issues. Of course, this entity is offshore for a reason – to prevent clients’ withdrawals.
MEX Atlantic Provides Bonuses
Bonuses are banned in most countries but they exist peacefully oversea. In the case of this internet-based trading platform, there is a 20% starting bonus with a maximum of $40,000.
That bonus is tradable and withdrawable.
However, it hides some fishy clauses regarding clients’ eligibility for a withdrawal.
To be precise, there is a requirement that a client has to trade 80 lots for every $200 bonus received before being eligible for a payout.
These 80 lots equal $8,000,000 in trading volume, which is ridiculous!
This is How The Fraud is Organized
The scamming brokerages always find a way to lure their unsuspecting victims. The internet is full of scammers who fraud people through flashy advertisements and fake testimonials from “satisfied” clients.
You’ll think your money is being invested, but that won’t be the case. The fraudsters will assure you that your investments already generated loads of profits and urge you to invest more.
The problem occurs when you try to withdraw your money. They will throw all sorts of lies at you, claiming that a sudden change in the market wiped out all of your earnings, or just point you to the shady policy terms.
Even for a minimum $10 bonus given for a $50 deposit, with this broker you’d have to have a rollover of $400,000 before being able to withdraw your money, which is extremely difficult and often unobtainable even for experienced traders, let alone for the novices.
It’s hard to track down these scammers because they hide behind unregulated and uncontrollable oversea companies. You should never fall for the “easy earnings” promises, and the best option you have is to always stay away from these kinds of scam brokers.
Forex Brokers We Strongly Suggest
In the sea of fraudulent organizations, there are reputable and trusted companies that provide legitimate and splendid trading experiences.
Not only have they earned their reputation as one of the most trustworthy brokerages, but they often have great educational platforms to guide new traders along their investment paths.
The firms we recommend checking out-earned their authority by having top-notch regulations in their trading services.
|FXTM Broker||Cyprus, Mauritius, the UK, Kenya||4.5||$10||Forextime.com|
|OctaFX Broker||Cyprus, SVG||4.4||$25||Octafx.com|
|FP Markets Broker||SVG, Cyprus, Australia||4.7||$100||FpMarkets.com|
|XM Broker||Cyprus, Australia, Belize||4.7||$5||Xm.com|
|HFM HF Markets Broker||SVG, Seychelles, South Africa, Cyprus||4.3||$5||Hfm.com|
|FBS Broker||Belize, Cyprus||4.85||$1||Fbs.com|
MEX Atlantic Summary
For the bottom line, this brokerage should be avoided. They don’t possess any of the necessary regulations for us to even consider them to be a true investment company.
Even though they hide behind a trustworthy firm, they’re still an offshore entity that is not licensed and represents a potential danger to traders.
The bonus policy makes it very hard for clients to withdraw their money, and we don’t know is it even possible at all.
Overall, just like with the other oversea corporations, you shouldn’t consider trying your luck here.
FAQs About MEX Atlantic Broker
MEX Atlantic Review – Who Is MEX Atlantic Broker?
The minimum deposit amount is $50, but for the SEPA payment method, it’s 250€.
What Are Deposit Options Available at MEX Atlantic?
There are a few at hand, including credit/debit cards, bank transfers, e-wallets, SEPA, and cryptocurrencies.
What Kind of Trading Platforms Does MEX Atlantic Offer?
They offer MT4 and MT5, the most reliable trading platforms in the industry.