Market Trace Review: Why You Cannot Trust Market Trace

by admin

Market Trace claims to be a legitimate UK-based Forex and CFD brokerage company. Yet, there are several discrepancies and shady details on the broker’s website.

In the website’s Privacy Policy, Market Trace claims that the trading brand belongs to Hargreaves Lansdown, a UK financial services company. However, these two entities are not actually connected at all. 

Market Trace, the unlicensed, is not registered with the UK’s Financial Services Compensation Scheme (FSCS), meaning you won’t be entitled to the FSCS’s compensation scheme of up to 85,000 GBP in case you trade with this broker.

Therefore, Market Trace is definitely not a safe option for trading. Forget about this platform and try to find a licensed provider that’s regulated by a reputable financial regulator such as the aforementioned FCA (UK), CFTC & NFA (US), ASIC (Australia), BaFin (Germany), IIROC (Canada), etc.   

If you need help finding the right broker for you, we offer our professional services.

Trustpilot explicitly claims to be “aware that this company has received regulatory attention.” There are many negative reviews and complaints. Judging by what traders wrote, the phony broker is present on social platforms such as Tinder and is actively searching for victims.

To reiterate, Market Trace was blacklisted by the UK’s FCA a couple of days ago, meaning the illicit broker is not compliant with the regulations in force in the UK or the European Economic Area, and has no license to provide trading services. Stay away from this platform.

Market Trace offers an unpolished browser-based platform. The platform offers just some basic charts, indicators, and graphs but lacks advanced tools that are necessary to facilitate and improve your trading experience.  

Although the platform is online, Market Trace also includes a mobile trading app for Android and iOS mobile systems. The broker does not support proper third-party software such as MT4, MT5, or cTrader.

We can help you retrieve your hard-earned money from Market Trace.

The maximum leverage that Market Trace offers is 1:20, which is odd considering that unregulated brokers typically offer much higher leverage. The regulatory cap in the UK for retail clients is 1:30 so Market Trace did not overstep it.

Market Trace’s web platform supports popular trading instruments such as Forex currency pairs, stocks, CFDs on indices, commodities, and cryptocurrencies.

The broker claims that the spreads and commissions are pretty favorable and competitive but without a demo account, we couldn’t check it out for ourselves.

The bogus website did not disclose the available payment methods. It included a not-so-transparent Privacy Policy and Refund Policy. Thus, the deposit and withdrawal fees are unknown. All we know is that the minimum deposit is 100 USD.

If you deposited funds via MasterCard and VISA credit/debit cards or wire transfers, you can request a chargeback, i.e. a recall. It can be done at the issuing bank within 540 days of the transaction. We can guide you through the process but first, you must book a consultation with us.

Market Trace is an anonymous scam broker that allegedly operates in the UK. The main targets of this scheme are traders living in the US, UK, Canada, and Germany.

This platform is unregulated and blacklisted by the FCA so please do not invest money in it. In case you already have and are now experiencing withdrawal issues with Market Trace, book a free consultation with Global Fraud Protection. We have a team of skillful professionals who can assist you with the chargeback procedure and the fund recovery process. 

Book your free consultation today and start the chargeback process.

Market Trace is an investment platform that offers various popular trading products such as currency pairs, stocks, and crypto.

No. Market Trace claims to be regulated but that’s a lie. This platform has been blacklisted by the FCA.

Market Trace offers Forex currency pairs, indices, commodities, stocks, and cryptocurrencies.

Highly unlikely. If you cannot get a withdrawal, we can help you recover your funds.

The post Market Trace Review: Why You Cannot Trust Market Trace appeared first on Global Fraud Protection.


Related Posts

Leave a Comment