While Macro Trade has quite a nice website presentation and seemingly offers plenty of company details, not everything is as it seems. Before continuing, we warn you against investing with this brokerage.
Now, let’s elaborate on it more in our detailed Macro-Trade.com review. We will analyze their offer and their alleged regulatory status for you.
Macro Trade is an anonymous financial swindler. The company claims to adhere to MiFID’s anti-money laundering laws. However, this is absolutely irrelevant since the directive only instructs companies in the EEA zone on handling customer funds promptly.
If a brokerage house wants to provide regulated financial services, they need to get a license from the relevant authorities, depending on the country of the registration. However, our broker here is hiding such details, meaning we had to search major Tier 1 registers one by one. After going through the databases of the FCA, ASIC, BaFin, CONSOB, and many others, we can conclude that Macro Trade is not a regulated investment firm.
Therefore, you should be quite cautious with your money. Furthermore, if you have already experienced any trouble, you can share your story with us and help our dedicated staff in our fight against online swindlers.
If you’ve ever come across a domain macro-trade.com, it was probably on social media. Companies like this tend to falsely advertise their services, promising customers thousands of dollars overnight or exceptional trading software that can practically invest for you. Of course, all that is under their supervision and with their assistance.
Since we have already established that Macro Trade isn’t legit, their employees are only sales agents. People sent to create various fake financial plans and send them via WhatsApp, email, or any other means of communication. They’ll say anything and do anything that will make you deposit the money.
And if you fall for the telltale, everything will go smoothly until you request a withdrawal. Then, Macro Trade support will suddenly stop responding, and you will understand that you have been defrauded.
This broker is mainly looking for its victims through social media. The company is luring victims through Facebook, Instagram, and YouTube. In addition, they’re offering some sort of partnership for current investors, promising them a percentage in return for bringing their friends and family.
The majority of the victims of Macro Trade scam come from:
While the list currently seems relatively narrow, we’re sure this is not all. Wherever you reside, ensure you avoid trading with unlicensed scammers, it’s a sure way to lose all your money.
What’s odd, the company doesn’t mention the trading platform whatsoever. Once we registered an account, we got access to Macro Trade login and to the lousiest WebTrader ever. It has basic features, such as opening and closing the trades and market price. If you hoped for more, you wouldn’t find it here.
Simply put, there is no magical tool to help you earn thousands, no EAs, no social trading, or anything else. In addition, there are no mobile apps for Android and iOS, meaning you will have to trade through a web browser.
You can trade in five markets using the following trading instruments:
All the assets are traded as CFDs or contracts for difference. You’re not directly purchasing the asset but investing in its price, which means you can earn even if the prices drop. The advantage of CFD trading is the leverage that can boost your capital.
Leverage is a tool to boost your capital. It’s a company investment, and the ratio represents the amount the company puts down on each 1 USD/GBP/EUR you invest. For instance, a Macro Trade broker offers up to 1:400, meaning that for every 1 unit from you, the company is investing 400 from their side.
While it means that you have considerable buying power, it also means that you can lose quicker since your contribution to the amount is insignificant. This is why Tier 1 authorities such as FCA and ASIC imposed a leverage limit of 1:30 for currency pairs and lower for other assets.
As per the fees, this broker doesn’t discover much. They advertise low spreads and trading commissions, but we cannot confirm it without a Demo account.
You’ll be able to choose between five Macro Trade account types:
Each higher account brings more loyalty points, a higher leverage and margin loan, and more access to tools like webinars and market research features. According to the FAQ section, the minimum deposit is $100, but it seems that you get no perks before upgrading to a Green account.
The company claims your funds are safe since they use SSL certificates on their web page. And while this means that your payment details are safe from hackers, they’re not safe from broker employees. Especially not if you provide them with the card number over the phone.
Here’s the list of payment options listed on the website:
However, the T&C state that “the deposits and withdrawals are possible via credit cards and bank wires.” Whatever the case, reviews indicate that getting a Macro Trade withdrawal is a challenging task. Broker employees will require you to pay additional fees and taxes before blocking access to your trading account.
If you notice anything suspicious or cannot log in to your trading account for more than a few hours, let us know immediately. Your money might already be gone.
Don’t let fraudsters run away with your funds. Prevent them, and we’ll help you prepare a detailed report for your bank and the authorities. Book a free consultation today!
Macro Trade is an unregulated trading brokerage without a license. If you have already invested with the firm, we might be able to help you recover your money.
The minimum deposit with a Macro Trade broker is $100.
The company didn’t specify how long it takes to approve a withdrawal request.
The post Macro-Trade.com Review: Swindler Lurking English-Speaking Countries appeared first on Global Fraud Protection.
