Metrictradingfx An Unregulated Broker Claimed Regulated Has Multiple Warnings

Have you ever been taken advantage of？ If so, your experience is not unique. Every year, people lose thousands of dollars to con artists. While fraudsters are to blame for such unethical behavior, financial abuse may also occur when consumers are careless. This article tells you how to spot a scam broker like Metrictradingfx and how to protect yourself from possible fraud.

A Quick Overview of Metrictradingfx

Metrictradingfx is a Malta-based online FX and CFD brokerage service. The firm claims to be a subsidiary of P240 Ltd. The broker was started in 2021 and offers retail trading services in a number of financial areas, such as foreign exchange, commodities, stocks, energy, and indices. Despite the fact that the company's website states that cryptocurrencies are one of the financial marketplaces it serves, they are not listed as a product. Metrictradingfx does not have its own trading software, so customers must rely on the industry-standard MT5 trading platform on their PCs and mobile phones. There are also many account kinds, payment methods, and instructional materials.

Is Metrictradingfx a regulated broker？

Metrictradingfx is not regulated. The broker says that he or she follows the rules of the US Financial Services Authority under license number IS/560000. In the United States, however, no such regulating authority exists. Even if the broker wanted to suggest that it is regulated by the Maltese Financial Services Authority, no record can be found in the MFSA register. In reality, if we look for this fake company's company name, P240 LTD, we can find three warnings about it.

Warnings Issued By MFSA Against Metrictradingfx

A complaint received by WikiFX from one of their clients

Here is the full detail: https://www.wikifx.com/en/exposure/detail/202208209842238633.html

Investor's Reactions

Metrictradingfx is a broker with a low rating. On the websites of many reviewers, including WikiFX, people have said that the company's code of conduct isn't good enough. Current and former customers say that the broker never handles requests to withdraw money and just blocks access to their trading accounts.

How Can I Tell If Metrictradingfx Is A Scam Broker？

On its website, the firm makes a number of false assertions. It asserts, for example, that MFSA rules exist in the United States. In reality, MFSA is an acronym for the Maltese Financial Services Authority. In Malta, there is a regulatory body, but not in the United States.

Please be aware that brokers in the United States must get a license from either the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC) (CFTC).

Furthermore, the broker promotes a broad range of trading accounts. When you join up with the firm, however, you are sent to an “account upgrade” option where you will find a completely new set of account levels. Such techniques are often used by imposters to deceive customers.

Also, this message shows up when you try to add money to your account using one of the accepted payment methods. It should be clear why the broker wants you to speak with customer care or an account manager. The company's marketing staff, who pose as your account managers, try to get you to do fake transactions that will make the company money.

Above all, the feedback from customers speaks volumes about the company's overall concerns.

Bottomline

Metrictradingfx is a dishonest broker who is not regulated. The broker's trading conditions are poor, and withdrawal is difficult. As a result, trading with it is not advised.

Check out more of Metrictradingfx here: https://www.wikifx.com/en/dealer/1153756337.html

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