Medifinance Limited Review: Reasons to Avoid Medifinance Limited

Let us share with you some of the reasons why opening an account with this particular broker is not advisable. Medifinance Limited lacks proper regulation, which means it is not authorized to offer financial services in any country. Unregulated brokers operate without government oversight, making them unreliable. Keep an eye out for this broker.

Our investigation into online forums revealed a high percentage of negative comments. Those comments were from dissatisfied users who experienced difficulties withdrawing their money. Based on these user reviews, it appears that Medifinance Limited is a fraudulent brokerage. This reinforces our warning to refrain from investing in their platform. Read more in our Medifinance Limited review.

Medifinance Limited Regulation and Fund Security

Let’s start by discussing the recent warning issued by the Central Bank of Russia against Medifinance Limited. Despite this warning, we were suspicious when visiting their website due to the lack of a legitimate FX license. We also checked the British Financial Conduct Authority (FCA) register, but our efforts were in vain as we found no record of a company or broker named Medifinance Limited.

It’s also necessary to note that the lack of a legitimate FX license raises concerns about website anonymity. You cannot trust a broker’s claims if you can’t verify their identity, including their stated London address. This means you won’t be able to hold anyone accountable should anything go wrong. Besides, you may be at risk of being scammed or victimized by a fraudulent broker. So, it is crucial to ensure your broker is licensed and regulated.

Trading Software Overview 

Medifinance Limited offers a WebTrader platform. However, if your broker fails to provide you with MetaTrader 4 (MT4) or MetaTrader 5 (MT5), it should raise a red flag and indicate a potential scam. MT5, in particular, has gained immense popularity in the forex industry. It boasts an impressive 4.5-star rating, over 403,000 reviews, and 10 million downloads on Google Play.

The reasons behind its popularity are well-founded. MT5 offers real-time quotes, financial updates, FX, and stock charts. It also enables you to engage in algorithmic trading using specially designed trading bots known as Expert Advisors. Bots can be easily customized using MQL5, an automated trading programming language.

Moreover, MT5 supports over 80 built-in technical indicators and analytical tools. It allows you to have up to 100 charts simultaneously across 21 different timeframes, ranging from one minute to one month. This facilitates effective analysis of both short-term and long-term price fluctuations.

Besides, MetaTrader 5 servers are hosted by Equinix, a global digital infrastructure provider with 240 data centers across 27 countries, spanning all five continents. The MT5 servers are strategically located in major financial hubs such as London (LD4), New York (NY4), Hong Kong (HK1), Sao Paulo, Mumbai, Amsterdam, Lagos, and Johannesburg.

Account Types Available

Medifinance Limited offers five account types. They are as follows: 

• Basic – €250 – minimum deposit
• Silver – €2500 – minimum deposit
• Gold – €5000 – minimum deposit
• Platinum – €10000 – minimum deposit
• VIP – €50000 – minimum deposit

There are different account features and benefits offered at each account level. Yet, please keep in mind this broker is suspicious. 

Tip: Exercise caution when dealing with companies like Medifinance Limited and Cambrill to prioritize your safety and security.

Deposits and Withdrawals

Medifinance Limited claims to accept payments through various channels, including:

• VISA
• Mastercard
• Neteller
• Skrill
• PayPal
• QIWI Wallet
• bank wire transfers
• cryptocurrencies

Yet, even though card payments may be accepted, it does not alter the fact that this broker is likely engaged in fraudulent activities.

When it comes to the minimum deposit requirement, Medifinance Limited asks for 250 EUR or 250 USD, which is a standard amount requested by many brokers. Yet, it’s important to note that the broker charges a fee for withdrawals, and the process itself is slow. Moreover, the majority of reviews and ratings for this broker are negative. Based on this information, it is strongly advised not to use this particular broker.

How Broker Scams Operate: Revealing the Tactics of Fraudulent Brokers

Fake brokers like Medifinance Limited and StarTrader employ shady tactics to convince clients to deposit money, often making unrealistic promises of high returns. These unscrupulous individuals even contact clients to solicit more deposits. Yet, it is crucial to remember that their promises are completely false.

These fraudulent brokers often hire individuals from abroad to minimize costs and target as many people as possible. Their ultimate goal is to deceive and scam unsuspecting victims, disappearing without a trace. Victims are left helpless as these brokers become unreachable via phone, email, or chat, and their websites often become inaccessible. Sadly, those who fall victim to these scams have little to no chance of recovering their money.

It is wise to familiarize yourself with these types of scams and never trust anonymous brokers with your hard-earned money. Always conduct thorough research before investing in any broker. Check online reviews and contact customer service to verify their legitimacy. If anything seems suspicious or too good to be true, trust your instincts and walk away. 

Medifinance Limited Summary

Medifinance Limited is a broker that claims to offer financial services but lacks proper regulation. The Central Bank of Russia has warned against this company, categorizing it as fraudulent. Negative user reviews further highlight withdrawal issues. Also, the absence of a legitimate FX license raises concerns about the authenticity of the broker. Without proper regulation, investors are left without adequate oversight and protection.

While the broker does provide a web trader platform, it fails to offer popular and trusted platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5). All in all, based on the evidence and the issued warnings, it is strongly recommended to avoid Medifinance Limited as a broker. If you need help choosing a reputable broker, feel free to contact us for a consultation.

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