Take a look at Medco Finance Limited, an allegedly competitive broker with exceptional support speaking your language. First, allow us to mention that their website doesn’t speak your language. Half of it is in Polish, including the disclaimer about risks and the platform section. If this is not your native language, or you had no interest in learning it on the way, you won’t be able to follow.
Further reasons to avoid this brokerage are presented in detail in our Medco Finance Limited review. Ensure you read carefully.
Medco Finance Limited is the brand name of medcofinance.vip. The company says to operate from Colorado, US. For this to be true, the firm must comply with stringent regulatory demands tied with choosing the US as its headquarters.
For a start, Medco Finance Limited regulation should be in the CFTC and NFA register. Further, since CFD trading is prohibited, the broker would have no approval to onboard US residents. Finally, the owner would be obligated to maintain minimum capital of $20 million and be transparent with financial reports.
Since we’ve seen no transparency with the said brokerage, it’s hard to believe they’ve invested so much money in a fraudulent project. Furthermore, let us mention that no Tier 1 registers, including FCA, ASIC, and BaFin, have any records of Medco Finance Limited.
Now that we’re clear about the scam, let’s learn more about the broker and where its victims come from.
Medco Finance Limited is an anonymous trading brokerage without a license. There are almost no reviews about this brokerage, which is never a good sign. The company’s website looks like a bad joke, with half of it being in Polish.
Both domains, medcofinance.vip and medcofinance.com, entered the GoDaddy WHOIS database on the 29th of September, 2022. Since then, the company has defrauded many, with the majority of withdrawal complaints being from:
SimilarWeb results confirm our findings, stating that the site is the highest ranked in the UK.
While promising users native mobile apps, MetaTrader 4, MetaTrader 5, and WebTrader, this firm doesn’t deliver. Medco Finance Limited’s trading platform is another deception in the long line of lies.
The broker only allows access to the basic browser-based tool without any mobile solutions. The software is rather generic, seen a number of times before with other scheme firms. You can view all assets, add some to your favorites, open pending orders, and review your trading history.
MetaTrader’s functionalities, such as EAs and social trading, don’t exist with this WebTrader. That’s why scammers falsely advertise third-party apps to lure retail traders such as yourself into depositing.
Medco Finance Capital allows its customers to trade in the following markets:
Crypto trading is not enabled.
Medco Finance Limited offers a spread of 0.6 pips. While favorable, it brings its own danger. It might mean that the broker will run with your entire deposit or all your digital coins.
Let’s take a look at Medco Finance Limited account types and see what you can get if you deposit the money.
The Beginner account only allows FX trading, while clients can access all the assets from the Premium one. In addition, each account brings more “insured trades.”
This is a common scam, implying that the broker will cover your trading costs in case of losses. There’s no point for investment firms to offer such a thing, especially not for a 100 EUR investment. It’s just another trick to entice you to deposit and upgrade your account.
Sadly no, the Medco Finance Limited Demo account is not available. Broker employees will navigate you to review the software while using high-pressure sales tactics to convince you to deposit the money. Sometimes, they might even tell you that they don’t offer a risk-free account for your own good so that you won’t get a false sense of safety with virtual funds.
By now, you should be able to see through lies. The only reason there’s no Demo account is that you’d understand all the drawbacks of investing with the firm.
We’ve found a lot of comments regarding Medco Finance Limited withdrawals. Broker employees will request that you comply with AML Policies and submit identity confirmation documents, proof of bank account ownership, and more. It seems to be a never-ending cycle of documents.
Yet, anything you submit will not be good enough. They will keep asking for new fictitious documents and better photos, more signatures. They may even disappear for a couple of weeks just to come back with new demands.
Don’t fall for this. Unless your payout request is approved within a reasonable time frame, submit a dispute for a chargeback immediately.
If you’ve transferred funds using crypto coins, we’ll put you in touch with our CipherTrace analysts. Don’t hesitate to get assistance when needed. We’re here for you!
Medco Finance Limited is a fake online trading platform. If you lose your money with one such, let us know, and we may be able to assist with fund recovery.
The company offers CFDs on stocks, commodities, and indices but not on crypto coins.
The minimum deposit with this brokerage firm stands at 100 EUR.
Medco Finance Limited is a fake online trading platform. If you lose your money with one such, let us know, and we may be able to assist with fund recovery.
The company offers CFDs on stocks, commodities, and indices but not on crypto coins.
The minimum deposit with this brokerage firm stands at 100 EUR.
The post Medco Finance Limited Review – All the Lies of Medcofinance.vip appeared first on Global Fraud Protection.
