We see a dozen new websites registering and advertising their incredible trading services every month. Yet, only a few of them do it in a legal manner.
If you’re interested to learn more, read our detailed MobaTrade review. We’ve covered everything there is to know about this investment brokerage.
MobaTrade is as anonymous as they get. You will find an alleged address in the UK and nothing more. When you search for it on Google, there will be no mention of the brokerage. Since we knew nothing about the owner, we had only one way to check its operations, by verifying MobaTrade’s regulation with the FCA.
The Financial Conduct Authority takes its job very seriously, which is why it’s a Tier 1 licensing provider. It controls the market, giving licenses only to great businesses, prepared to fulfill demands such as maintaining minimum capital at 730,000 GBP and participating in the compensation fund with up to 85,000 GBP per account.
MobaTrade, on the other hand, openly admits to being unregulated. They even say they hope to earn your trust while offering you services without legal coverage. They added CCA as their authority in charge, but we’ve already elaborated on this fictitious website. It serves only one purpose, to make scammers seem credible.
Furthermore, the company offers leveraged crypto trading services strictly forbidden by the UK authorities due to high risks. There’s not a single reason for you to trust MobaTrade.
MobaTrade is an anonymous, allegedly UK-based trading firm. They openly admit to having no regulations for offering trading services at the present moment.
MobaTrade broker registered its domain in the GoDaddy WHOIS database on the 27th of June, 2022. Since then, it mainly targets customers from the following countries:
If you decide to invest, which we don’t recommend, you will have access to one MobaTrade trading platform, WebTrader. The brokerage once again sells fake stories and tries to convince you that investing with browser-based software is exactly what you want. The same they did with a regulation.
However, we couldn’t try it out as it’s impossible to register an account without a referral code. It’s also impossible to check the platform without an account. Quite unusual. Legitimate firms with nothing to hide will often open access for anyone to show the world what they provide.
MobaTrade offers access to five asset classes, those being:
As explained, crypto trading with leverage has been banned in the UK since 2021. So seeing it on offer with an alleged UK-based brokerage that claims to comply with regulations is odd.
There’s a whole section dedicated to fees and charges that says nothing. The company says it charges spreads, swaps, withdrawal and training fees. Yet, they only say all are minimal and affordable. We don’t think a company in the process of obtaining a license is allowed to hide the actual costs of investing, do you?
Let’s review the offer of MobaTrade account types and why they seem unfavorable.
As you can tell, these amounts are insane. Why would you trust an unregulated broker with such a large amount of money without even being able to access their platform?
Besides these, the investment firm offers an Islamic swap-free account, with possibly higher charges through spreads and other commissions.
Additionally, accounts bring perks such as VODs and social trading, but there’s nothing about fees. We expected to see them lower with higher deposits, but MobaTrade remained cryptic.
No, you cannot use a MobaTrade Demo account, as there isn’t one. This firm didn’t enable access to its software before entering a referral code. And the only way to get this code is through broker employees.
As you can guess, they will start their sales pitch as soon as they get ahold of you. According to the website, the minimum deposit is $250, but as you see from the account types, you get no perks before investing 10,000 EUR. Legitimate brokers don’t blackmail their clients this way. Instead, they’re open about all the terms and often offer a trial account.
The company has listed the following payment methods:
However, the terms of MobaTrade withdrawal are unknown. Is there a minimum amount? How long will it take for the funds to reach your account? Is there any bonus limit? We know virtually nothing.
If you were scammed by MobaTrade, don’t hesitate to report it. Global Fraud Protection has dedicated chargeback specialists assisting victims who lost their funds due to monetary fraud.
Book your free consultation today, and we’ll evaluate your case. Then, we can decide if to proceed with the recovery and how. Get more information right away!
MobaTrade openly admits to being unregulated while soliciting investors all around the globe. If you have invested your money and cannot withdraw it, we’ll be happy to assist.
No, MobaTrade doesn’t offer its clients a risk-free Demo account.
The broker says to offer a WebTrader, but it cannot be tested without a referral code.
MobaTrade openly admits to being unregulated while soliciting investors all around the globe. If you have invested your money and cannot withdraw it, we’ll be happy to assist.
No, MobaTrade doesn’t offer its clients a risk-free Demo account.
The broker says to offer a WebTrader, but it cannot be tested without a referral code.
The post MobaTrade Review – Unregulated MobaTrade Operates Anonymously appeared first on Global Fraud Protection.
