Metadoro Review Broker Under Scrutiny For Investment Scam
INBROKERS REVIEWS, FOREX SCAMSTAG:FOREX SCAM, SCAM REVIEW0
Weve got ourselves a case here. After emphasizing that offshore brokers are extremely risky time and time again, nows the time to show you why.
Metadoro is a textbook example of this. Without further ado, well start the Metadoro Review and hopefully deter you from investing.
On top of that, we seriously recommend you not to invest in the fake brokers Spartan Trade, Trades Universal, and Finotive Funding. Do not trade with these unlicensed brokers if you want to save your money!
Broker status: Offshore Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: metadoro.com
Blacklisted as a Scam by: NSSMC
Owned by: RHC Investments
Headquarters Country: Mauritius
Foundation year: 2019
Supported Platforms: MT4 & MT5
Minimum Deposit: 20 USD
Cryptocurrencies: Yes BTC, ETH, ADA
Types of Assets: Forex, Crypto, Indices, Shares, Commodities, ETFs, Bonds
Maximum Leverage: 1:500
Free Demo Account: Available
Accepts US clients: Yes
report a scam.
Metadoro Is A Scam Broker?
Metadoro is an offshore broker based in Mauritius and allegedly run by the company RHC Investments. This entity is registered with the local regulator, the FSC. That implies that Metadoro is a licensed provider, albeit a questionable one.
Namely, the offshore domain that is Mauritius simply requires entities to possess a capital of 25,000-250,000 EUR, depending on the type of license. Metadoro is on the higher end.
However, lower-tier jurisdictions arent very reliable as brokers have only one condition to meet they arent liable to compensate clients or segregate their funds. They can vanish whenever they like without repercussions.
Metadoro is an offshore broker off the coast of Mauritius and is a licensed provider. However, after a warning from the Ukrainian NSSMC and complaints from clients, its clear that this is an investment scam.
Arguments For Trading With a Tier 1 Licensed Broker
As mentioned, regulated offshore brokers have irrelevant licenses most of the time. Instead, you should choose Tier 1 licensed brokers, those approved by the likes of the FCA, ASIC, BaFin, etc.
That way, they have to have significantly higher operating capital (i. g. 730,000 GBP), provide clients with negative balance protection, a segregated bank account, a compensation scheme (i. g. 20,000 EUR) and leverage restriction (1:30).
Metadoro Was Blacklisted by the Ukrainian Financial Authority NSSMC
It seems Metadoro was busted for conducting its wrongdoings. The Ukrainian National Securities and Stock Market Commission flagged this broker as a fraud. Thats a huge red flag in our eyes and reason enough not to trust Metadoro. Check out the warning for yourself:
Metadoro Warning From NSSMC
Metadoro Software How Safe Is The Platform?
Metadoro Trading Software
Metadoro offers both Meta Trader 4 & 5. Could this be the pinnacle of the trap? These two cutting-edge platforms are widely considered the industrys best with critical acclaim to their names.
They provide clients with a range of advanced tools and features such as algorithmic trading, live market reports and various charts. All in all, the platforms are perfect so why did we mention a trap?
Because you could get carried away with trading and everything youve earned could suddenly disappear. Remember that nothing is stopping Metadoro from simply vanishing with your funds.
What Financial Instruments Does Metadoro Include?
We have to say, its a pretty hefty offer. Theres an abundance of trading assets and instruments. From the classics to the more exotic variants, its all there supposedly. Heres a quick overview, but be careful with it:
Forex pairs EUR/USD, GBP/JPY, CAD/CHF
Indices US30, AUS200, NIKKEI225
Commodities coffee & wheat;
Energies crude oil, brent oil, CO2 emission rights
Metals silver & gold;
Stocks Apple, Tesla, Amazon
ETFs SPY500, Vanguard VOO & Invesco QQQ;
Bonds Euro-Bund 10Y & Euro-Schatz 2Y;
Crypto assets BTC, ETH, BNB
Where Does Metadoro Engage In Fraud? Countries Of Service
It seems Metadoro has set its fraudulent gaze on a number of countries. This is what we discovered:
Italy;
Latvia;
Romania;
Spain;
Germany;
The Netherlands;
The UK.
On similarweb.com, we also found out that the activity on the website spiked in November 2022 with 95,000 visits, mostly coming from Mexico and South America.
Its alarming that Metadoro is on a world tour defrauding traders. Its great that the Ukrainian regulator reacted, but not enough apparently.
As well, stay away from the trading scams Vestapros, OpoFinance, and ImportCapital! Furthermore, before investing, always investigate the history of internet trading firms!
Metadoros Account Types?
All we found on Metadoros website was a Welcome Account. This resembles a demo account in a way. You get 100 $ and MT4 for seven days to try things out.
As for proceeding to open a live account, the shady broker claims you only need 20 $. Theres no doubt that this isnt your typical offshore scam.
Metadoro will allow you to trade and keep investing. After youve made some profits, thats probably when the scammer will show its true face.
Metadoros Negative Balance Protection
Metadoro isnt regulated by Tier 1 authorities, thus it isnt obliged to provide clients with negative balance protection in case theyre about to go red.
Putting it up there is certainly a clever lure. Traders could easily hit zero since the leverage cap is way too high 1:500! Thats a double-edged sword thats disastrous more often than not.
Metadoro also claims it doesnt charge any commissions and fees, which seems too good to be true. Brokers make money from fees & commissions, so why should one renounce them? Unless The plan is to embezzle some hard-earned money.
Metadoros Deposit and Withdrawal Policies
Metadoro didnt mention the funding methods on its website. We had to dig elsewhere. It seems that the con artist accepts the traditional payment methods:
Credit/debit cards;
Wire transfers.
The minimum deposit is just 20 $ and, as mentioned. Despite advertising a fee-free business, Metadoro contradicted its claim by saying it can charge deposit fees at its sole discretion.
Metadoros Terms and Conditions
The whole legal section looks legit. However, there are minor discrepancies that do give rise to doubt such as the one about fees that we mentioned above.
For that reason, we believe that a more thorough audit could reveal more fraudulent details. Due to the aforementioned warning and several other complaints, we conclude that Metadoro is not trustworthy at all.
Metadoro Broker Scammed You? Please Tell Us Your Story
Thats a wrap. Our review is done and we hope youve picked up pieces of the truth during your read. If youre a victim of this terrible hoax, dont despair.
Were here to tell you about the chargeback methods that could bring you your money back. If you need assistance with it, be sure to give us a call. Also, you could help us bring this scammer down once and for all!
What Is the Chargeback Procedure?
Credit/debit card transactions can be reversed via chargeback.
A chargeback can be requested at the issuing bank within 540 days.
Wire transfers can be reversed using a recall, also performed by the bank.
A recall is possible if the transaction is incomplete, otherwise, its not.
If you were scammed by a broker, let us know.
What Is Metadoro?
Metadoro is an offshore broker based and regulated in Mauritius. It claims to be owned by RHC Investments.
Is Metadoro a Scam Broker?
Yes. There are numerous complaints and a warning from the Ukrainian regulator that support this claim.
Is Metadoro Available in the United States or the UK?
Yes. The offshore provider seemingly accepts traders from both the UK and the US.
Does Metadoro Offer a Demo Account?
Yes. Its in the form of a Welcome Account offered on the website. You get 100 $ to trade for seven days.
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