Modmount Review: Examining Allegations of Fund Withdrawals & Capital Scams

Did you find the Modmount withdrawal support team incompetent to handle your requests? Did your constant follow-ups with it only result in generic responses? Did the lack of a stop-loss arrangement make you lose all your capital? Have you witnessed the liquidation of forex positions due to the brokers negligence? Many traders have reported these on broker review platforms such as WikiFX. This Modmount review article highlights some of the complaints against the broker. Keep reading!

Examining the Top Forex Trading Complaints Against Modmount

The $5000 Capital Loss Complaint

The complaint demonstrates the humongous loss a Taiwan-based trader faced due to the lack of effective risk management tools such as stop-loss. The constant rise in losses meant the trader was siphoned off a huge $5,000, as per the accusation. While the broker executive allegedly faked the incident by calling it not a real loss, the eventual outcome was awful for the trader. Check this Modmount review shared by the trader.

Alleged Investment Scam Involving Deposit Pressure and Sudden Fund Loss

A complainant alleged repeated pressure from Modmount to deposit more and was even encouraged to borrow funds to continue investing. Despite expressing financial difficulty, the trader was told that arranging funds was solely his responsibility. The assigned representative maintained daily contact and assured the complainant that the investment would be protected, especially just before the trader planned to liquidate his position.

However, the following morning, the entire investment of USD 20,000—reportedly borrowed funds—was wiped out. After the loss, communication from the company ceased entirely. The complainant further claimed that earlier promises of repayment were not honored and alleged that profits, if any, would not have been released to him. Bereft of his hard-earned capital, the trader, expectedly, shared this negative Modmount review.

The Fake Advertisement to Bring Investments into the Modmount Platform

A trader from South Africa reported this startling revelation that claimed fake advertisements from Modmount to lure traders. The trader claimed that while the broker invites traders to join the trading platform with a minimum investment of USD 250. According to the complaint, as the account is created and deposits are made, the broker executive allegedly manipulates traders to deposit more with no guidance on how to trade. The trader even claimed fake profit generation from clients deposits. As the client faced a capital loss worth $2,500, this negative review went online immediately. Check it out!

Incompetent Trading Analysts, A Trader Alleged

A trader criticized Modmount analysts by saying that they do not analyze the market properly. Instead, they give a fake promise of profit. Because of the poor guidance, the trader admitted having lost a large sum while trading on the Modmount platform. We have shared the traders Modmount review below. Take a look!

Unclear Modmount Withdrawal Process

This complaint demonstrates a poor response from the customer support team to the withdrawal application made by a Qatar-based trader. Despite making the request days ago, the trader could not receive funds. The trader accused the support team of giving just one response - the request was under review. Left confused as to whether the funds would actually come, the trader expressed frustration with this critical Modmount review.

More Customer Support-related Complaints

The Modmount customer support team has been under fire from traders for their alleged trading behaviour. While some traders accuse it for zero to minimal communication, others blame it for no support on buying and selling securities. Check out some hardcore customer support-related complaints.

Concerns Over Offshore Licensing and Limited Regulatory Protection

This complaint argues that Modmount is licensed only by the Seychelles Financial Services Authority (FSA Seychelles) and does not hold any direct approval or endorsement from IOSCO. While the Seychelles FSA is listed as an associate member of IOSCO, this membership does not equate to IOSCO authorizing or supervising the broker itself.

As a result, the company‘s regulation is considered offshore and may not provide the same level of investor protection as top-tier regulators such as the U.S. SEC, the UK FCA, or similar major financial authorities. The complaint further highlights that offshore licenses are often viewed as weak or “low-tier” oversight, and notes that public complaints and regulatory warnings in various jurisdictions have raised additional concerns about the broker’s credibility and practices.

Modmount Review by WikiFX: Is Modmount Safe to Invest in?

Considering a large number of complaints accusing Modmount of severe foul play in trading operations, an in-depth investigation into its regulatory status was imperative. Upon investigation, Modmount was found to be regulated in Seychelles. However, the broker has an offshore regulation that does not protect traders to the extent provided by brokers associated with top-tier regulators. This, in many ways, summed up the experience traders can expect at Modmount, which, obviously, is not going to be beneficial. Keeping this in mind, Modmount received a fairly low score of 3.41 out of 10.

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