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The trader is so furious about this.
Abstract: MTFE recently opened multiple operation centers in the Middle East and South Asia. This broker seems to grow too rapidly to be trusted. WikiFX received a lot of exposure against MTFE from traders. We wonder if MTFE can be trusted. In today’s article, we will show one of those cases of how MTFE scammed people’s money based on the evidence gathered by WikiFX.
Search "MTFE" on WikiFX.com for more specific information about this broker. https://www.wikifx.com/en/dealer/3517753597.html
About MTFE
MTFE recently opened multiple operation centers in the Middle East and South Asia despite that this broker has only 2 years of trading experience. On March 7, 2023, the MTFEs Bangladesh team distributed supplies to local “depressed and needy people” in Bangladesh. The slogan is “MTFE Group is always with the world depressed people”. MTFE is also vigorously promoting its AI trading system. Traders don't have to spend too much time managing their accounts, and the AI system can automatically handle it. However, many traders accuse MTFE of scams. The biggest problem that this broker has lies in withdrawal rejection.
About WikiFX
WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 40,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
According to WikiFX, MTFE has been given a decent score of 1.23/10.
Description of the case in brief
UNABLE TO WITH FROM MTFE BROKER.
One trader told WikiFX that he used to have 4800usd in his wallet. MTFE keeps delaying the withdrawal. The withdrawal should take 2 to 3 working days but they made him wait 4 days which was the blow day like they knew the trader will trade the signal. The customer service keeps wasting this trader’s time, which makes the trader become angry.
Evidence gathered by WikiFX
Below are the victim’s proof and chats with the MTFE customer service.
Conclusion
Many scam brokers like to make an excuse to delay clients’ withdrawals and ask the clients to deposit more money when the clients want to withdraw. We believe that MTFE is getting involved in a scam. The reason why WikiFX exposed this case to the public is to remind all traders of the potential risks. All traders should be vigilant when investing in a broker.
WikiFX is actively reaching out to the victim and other traders hoping to find more evidence to help him resolve the problem. Please stay tuned for more information.
WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFX’s official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!
MTFE Blocks Withdrawals and Gives Fake Signals
Abstract:
Beginner traders frequently use forex signals to increase their success rate and enhance their trading experience. However, many need to be made aware that as much as signal trading sounds convenient and easy, it also has many underlying risks.
Search "MTFE" on WikiFX.com for more specific information about this broker.
https://www.wikifx.com/en/dealer/3517753597.html
WikiFX is a global forex regulator query platform that provides verified broker-related information and mediates disputes between brokers and their clients.
Today, WikiFX will reveal a case submitted by a client of MTFE who participated in MTFE's signal trading services but ended badly.
Read this article here for more information about MTFE: https://www.wikifx.com/en/newsdetail/202303138194434301.html
Upon checking, no information was found on MTFE's official website (www.mtfe.ca) regarding its signal trading services. However, WikiFX found several pages promoting MTFE's signal trading services on Facebook – some of these pages have up to thousands of followers.
The tricky thing is that there is no evidence to prove that these Facebook pages and signal providers are directly (or officially) associated with MTFE. It could also be possible that MTFE hired individuals to market its signal trading services separately.
In this Exposure case, the client disclosed the phone number of MTFE's representative, and we found a red flag instantly!
The client who sought help from WikiFX provided these two photos that showcase the Whatsapp profile of Askim/Miss Yi, who had been in charge of the client's case with her contact number. However, why is Miss Yi, who represents MTFE labelling herself as someone who dabbles in the apparel and clothing industry? That is a question worth pondering.
The client also shared a screenshot from a Whatsapp group chat that he participated. This was how he received trading signals alongside other followers.
Unfortunately, signal trading did not turn out the way the client imagined. He suffered a huge loss and wanted to quit trading when he realised that MTFE did not entertain his withdrawal request.
The intricate world of currency exchange can be dangerous for people with little or no prior knowledge of how forex-automated trading systems function.
It is risky for any trader to presume they are immune to this specific form of forex scam because many traders can become victims. Long-term foreign currency traders will better understand what information is reliable and what is not. Yet, those with little currency experience are the most at risk. Beginner forex traders may be more willing to take greater risks and expose themselves than more experienced traders. This is where WikiFX comes into play - to make due diligence easy for both beginner and experienced traders. All you need to do is download our free WikiFX mobile application, visit www.wikifx.com and fully utilise our search bar. Whether opening a trading account or engaging in copy-trading, or signal trading services, it is important to take note of the said broker's credibility. Always opt for a long-established, reputable broker that has withstood the test of time and is highly regulated by recognised authorities with a WikiFX Score of at least 7.0 and above.
If you would like to seek help or guidance from WikiFX, please feel free to contact us through the mediums below:
