MarketsBank Review: Don’t Risk Trading with This Broker

When investing in the global markets, it is important to find a broker that is a good fit for you. This can take some time and research. However, having a trustworthy and knowledgeable broker is essential to succeed with online trading.

And cue to MarketsBank which is an unregulated broker that claims they operate from the UK with a license from the Financial Conduct Authority. MarketsBank broker is just another investment scam that is trying to manipulate people into thinking they are a multi-award company that offers new and cutting-edge technology.

Read this MarketsBank broker review to learn more about this fraudulent broker and also why you should stay away if you want to keep your money.

How Are You Protected at MarketsBank? License and Security

We shall first address the utter mess that MarketsBank made while trying to present itself as a perfectly legal entity. The financial swindler claims to be owned by Tech-Stat Solutions Ltd, based in the UK. 

After checking the Financial Conduct Authority (FCA) register, we weren’t that surprised to see that MarketsBank is not in it. The broker also mentions the governing laws of Hungary. Again, the Hungarian Financial Supervisory Authority has nothing on Markets Bank.

To make matters even worse, they also managed to get an official warning from FSMA that also blacklisted them. So, it’s just for the best to stay away from them.

Trading Platform Overview

Well, there is not much to be said about this alleged web trading platform they are offering.

You can’t even access it without signing up and giving all the possible information that you can give about yourself.

This is very common with scam brokers as the legit ones will always let you at least see their platform and also give you an opportunity to open a demo account.

MarketsBank claims to offer an award-winning trading platform that will give you a clear view of your account, opened exchanges, pending exchanges, and some automated functions. But is this just a poorly written segment on their website and not the real thing? Highly likely.

Account Types at MarketsBank

MarketsBank offers clients five different account types:

• Bronze – $10,000
• Silver – $25,000
• Gold – $50,000
• Premium – $100,000
• Platinum – $250,000

Additionally, this scam broker failed to provide a demo account for their potential clients to see what they are in for before signing up.

MarketsBank Offers Deposit Bonus

Bonuses? Nothing more than a shady instrument used to prevent clients from withdrawing funds. Top-tier regulators have banned bonuses. So, to answer the question, no. We wouldn’t be surprised if MarketsBank used this clause against you in the event you protest about not being able to withdraw.

MarketsBank Deposits and Withdrawals Process

And in the case of MarketsBank, they only offer the deposit methods via the following:

• Visa or Master credit or debit card
• Wire transfers

On top of that, it’s unlikely that you’ll be withdrawing anything due to the aforementioned bonus clause. The fee is allegedly 5% for cards and $50 for wires. But worry not, getting your money back is possible! Always report your scammer and think twice before depositing your money anywhere.

How is the Scam Performed?

Trading scams basically have the same principle that is being performed through different sites and by different agents.

Nonetheless, the core remains the same. The broker first gets your personal information if you have left it on some sketchy sites and then the constant harassment starts. It is important to note that scams like this one can happen to anyone. The agents calling you are persuasive professionals who scam people for a living. Even if you say no, they will continue to call you until you agree to make an initial deposit.

The ultimate goal is to compel you to invest at least once, and after you may suspect they are no more than a scam the trap is fully shut and they will do anything to keep your money.

MarketsBank Summary

In this MarketsBank review, we tried to warn you against this alleged UK-based broker that is operating without a license and following no regulations.

They are offering their customers an opportunity to invest in forex and CFD, but the only thing you will likely get to see is a cheap website with no basic info. Additionally, this scam broker has been blacklisted by FSMA.

Think twice before taking any risks while investing money and keep in mind that this investment scam will seek at least $50 while legit brokers will ask for as little as $5 as an initial deposit.

Be careful and remember that doing proper research is a necessary step if you are new to the world of trading as many phony brokers pop up overnight.

FAQs About  MarketsBank Broker