MEX Atlantic Review: Questionable Website Claims and Offshore Status

MEX Atlantic Review, Although the broker is associated with the reputable MultiBank Group, the MEX Atlantic is unremarkable. The opening of numerous offshore branches and subsidiaries, including MultiBankFX, has jeopardized MultiBank Group’s reputation. Read our unbiased MEX Atlantic review to learn more about this matter.

MEX Atlantic – License and Fund Security

MEX Atlantic claims to be the “World’s no.1 online financial derivatives broker” with top banks as its liquidity provider. But this is difficult to believe from an unknown brand. MEX Atlantic is part of the MultiBank Group. The owner is MEX Atlantic Corporation which offers brokerage services worldwide.

MEX Atlantic’s website suggests that regulations also apply to the other firms in the group. However, this is not true. MEX Atlantic is from the Cayman Islands. The company has no significant regulations. They only hold a CIMA license. Still, bear in mind that this license is in the Tier 3 group. Mex Atlantic does not own Tier 1 licenses, such as FCA, BaFin, or ASIC.

It’s risky to invest in MEX Atlantic as the brand is strange and anonymous. Leading brokers do not register offshore subsidiaries to compete in unregulated markets. Note that it’s wise that you work with regulated brokers that protect your investments. Look for brokers regulated by institutions like the CFTC, ASIC, FCA, or CySEC.

Regulated brokers must also take part in guarantee schemes. Those guarantees cover a certain amount of the investment if the broker becomes insolvent. Regulators also have significant net capital requirements to avoid bankruptcy.

Be cautious of MEX Atlantic, CeloMarkets, and other notorious firms. We prioritize your security.

Trading Platform

The broker provides a diverse range of trading software options. These include two of the most popular platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are available on many devices, such as Windows, Android, and iOS. There is also a web version of the software accessible through a browser.

MT4 is a popular choice among traders. Notably, MT4 has a simple interface, extensive charting capabilities, and customizable indicators. It is well-suited to all traders who trade forex and CFDs.

MT5 offers a more advanced trading experience. It gives you the ability to trade stocks, futures, and options. It also has charting tools and technical indicators. It is a popular choice for traders who need more advanced analysis tools.

To conclude, MEX Atlantic’s offering of both MT4 and MT5 provides its customers with a solid selection of venues. The availability of the software on a range of devices, including a web version, further adds to its convenience and accessibility.

MEX Atlantic – Account Types

Let’s take a closer look at the account options this broker has to offer. They are as follows: 

• Standard Account: Minimum deposit of $50 and starting spread of 1.5 pips.
• Pro Account: Minimum deposit of $1,000.
• ECN Account: Minimum deposit of $5,000, with raw spread trading opportunity.

The primary difference between these accounts is the spread, with the ECN account providing the lowest spread option. But, there are some unclear trading conditions, such as commissions for accounts other than ECN. All account types offer leverage up to 1:500, which is too high.

It’s worth noting that MEX Atlantic offers a 20% bonus up to $40,000 for clients. Yet, there is a strict policy regarding bonuses. It requires trading 80 standard lots before withdrawing bonus money. That is equal to $8 million.

Deposit and Withdrawal

MEX Atlantic offers a wide range of payment methods comparable to industry standards. There are several payment methods in use: 

• Bank transfers
• Credit cards
• E-wallets
• PaymentAsia
• Globepay

Additionally, customers can also use cryptocurrencies for transactions. This may look tempting. 

Yet, MEX Atlantic’s deposit and withdrawal fees are not explicitly stated, leaving room for ambiguity. That is a concern about this broker that needs clarification.

The only fee clearly outlined is the charge for inactive accounts. If an account remains inactive for three consecutive months, it incurs a monthly fee of 60 USD, which is a large amount.

How Does The Deception Actually Work?

Passive income is popular, but online shams are equally prevalent. Fake brokers lure inexperienced traders with flashy ads and fake testimonials, yet fail to invest the funds received. Victims usually face obstacles when attempting to withdraw their winnings and only then realize they’ve been scammed. 

These obstacles may include sudden market changes, high trading volume requirements, and hidden fees. Holding scammers accountable is challenging, as they often use offshore companies.

Beware, MEX Atlantic and LQDFX are both dubious companies known for tricking their customers.

Summary

MEX Atlantic is an offshore broker that claims to be reputable and regulated. Yet, it holds only a Tier 3 CIMA license and lacks significant regulations. Their website suggests regulations apply to other MultiBank subsidiaries. Yet, this is so untrue.

MEX Atlantic provides a diverse range of software options, including MetaTrader 4 and MetaTrader 5. The broker includes three account classes with leverage up to 1:500. The unclear trading conditions and strict bonus policy are unsettling. MEX Atlantic offers a range of payment methods. Yet, deposit and withdrawal fees are hidden. What’s more, the broker charges a high fee for inactive accounts. We recommend that traders trade exclusively with regulated brokers. 

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