MTrading Users Report Withheld Funds and High Withdrawal Fees

MTrading continues to receive negative feedback from Kenya and Thai traders, some of whom have recently lost their funds to the forex trading platform.

A trader came to know about the loss of funds when their attempt to withdraw funds faced serious difficulties.

“Issues with withdrawal.....minimum withdrawal requirements and excess charges on deposit. Low conversion rates for withdrawals and high fees for deposits,” the trader said in their complaint to WikiFX.

The trader explicitly pointed out that the withdrawal exchange rates remain slow, while deposit fees are expensive.

Adding to this, a trader from Thailand also shared their bad experience with the broker.

“The broker refuses to allow withdrawals. The broker notifies that a minimum deposit is required before withdrawals can be made. However, even though the deposit has been credited, it cannot be withdrawn,” the trader said in their complaint to WikiFX.

Both trader showed unsuccessful withdrawal attempts alongside their communications with MTrading. Both gave evidence of systematic delays by the forex trading platform.

What Does WikiFX Say About the Broker?

A WikiFX search reveals MTrading‘s profile with a score of just 6.5 out of 10. The forex platform operates under a Common Business Registration with the UK’s FCA. It, however, provides limited oversight into the regulatory aspect of the platform.

WikiFX rates MTrading's trading environment at the “C” level based on 443.5 ms average trade times coupled with slippage problems and high rollover expenses.

The complaints regarding market manipulation and frozen accounts, along with withdrawal delays, show the pain points of the traders who have potentially lost funds to the platform.

Scammed? File Your Complaint on WikiFX – Step-by-Step Guide

1. Visit the WikiFX website or download the app.
2. Log in to your account.
3. Browse the homepage.
4. On the right, click Exposure.
5. Select Latest Exposure.
6. Scroll to the bottom.
7. Youll find the option to File a Complaint.
8. Search for your broker to file your complaint.
9. Enter a title related to your scam experience.
10. Describe your incident and attach proof.
11. Click Release to submit your complaint.

Stay Vigilant!

Warning: Stay Alert and Informed

The experience of these traders with MTrading comes as a vital warning system for traders. Brokerage firms that create hard-to-understand withdrawal rules or have excessive fees and deny withdrawal requests are potential offender entities for users. The brokerage activities at MTrading are similar to previously reported incidents, which involved blocked funds and account block, leading to funds loss to traders.

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