Malaysian Traders: Stay Away From MTrading!

For those tempted by flashy promotions and high leverage, a careful look at broker MTrading via WikiFX reveals troubling red flags. Heres a breakdown of what WikiFX has uncovered, especially around its WikiScore, licensing status, and serious trader complaints, and why Malaysians should think twice before dealing with it.

WikiScore & Broker Environment

• WikiFX gives MTrading an extremely low WikiScore of 2.39/10. Specifically, its score is slashed due to “too many complaints”.

• In trading metrics, MTrading scores poorly: average transaction speed is very slow (~929.6 ms), slippage and rollover are rated “D”, even though cost is “A”. The Environment grade is a “D”.

• WikiFX also flags the “Licenses” section with: “No valid regulatory information, please be aware of the risk!” and “Warning: Low score, please stay away!”

View WikiFXs full review on Mtrading here: https://www.wikifx.com/en/dealer/1461139117.html

License / Regulatory Status

• MTrading claims “general registration” with the UKs Financial Conduct Authority (FCA), under the business MonEtrix Ltd, license number 16198039. However, WikiFX emphasises this is not the same as full FCA authorisation.

• Registered in Saint Vincent & the Grenadines (SVG), under ServiceComsvg LLC, with a PO Box address. SVG is an offshore jurisdiction known for weak oversight in terms of investor protection.

• WikiFX asserts that despite MTradings claims, it “currently has no valid regulation.”
  

• Most crucial for Malaysian traders: MTrading is listed on the Securities Commission Malaysias (SC) Investor Alert List. This list includes unauthorised entities and warns Malaysians not to deal with them because they are not licensed by SC. Being on this list means that any activity with such brokers falls outside the protections offered by Malaysian securities law.

Trader Complaints & Exposure Cases

Numerous negative experiences have been submitted to WikiFXs Exposure page. Here are some consistent themes:

1. Withdrawal issues

• Some users claim deposits are accepted, but withdrawals are delayed or denied.
  

• Others note excessive fees on deposits, low conversion rates when withdrawing.

1. Account freezing / unexpected charges

• One Malaysian user reported a friends account frozen under claims of money laundering and being told to post a large margin (USD 10,000) to unfreeze, but the margin was not returned.
  

2. Market manipulation suspicions

• Accusations that MTrading manipulates “spikes” or slippage; very unfair trading conditions are alleged.
  

Underlying Risks on MTrading's Official Website

MTrading raises immediate concerns with its aggressive promotion of 1:1000 leverage. While such leverage may entice traders with the promise of larger profits, in practice, it exposes them to devastating losses, where even a price swing of less than one per cent can wipe out an entire account. This is why respected regulators such as the FCA, ASIC and CySEC cap retail leverage at far safer levels, usually 1:30 on major forex pairs. By ignoring these standards, MTrading appears more interested in gathering deposits than protecting clients.

The broker also offers accounts with a minimum deposit of just USD 10. Although this looks attractive to beginners, it is less about accessibility and more about strategy. Offshore brokers often set ultra-low deposits and captivating bonus campaigns to lure inexperienced traders, knowing these clients are least likely to challenge poor execution, hidden costs or difficulties in withdrawing funds.

Why Lack of Regulatory License Is a Major Red Flag

When a broker doesnt hold a valid, active licence from a reputable regulatory authority, several critical protections are missing:

• No legal recourse: If disputes arise (for example, denial of withdrawals), traders may have little to no leverage.

• No compensation schemes: Regulated brokers often must participate in investor compensation or protection programmes; unregulated ones do not.

• Transparency and auditing: Regulatory oversight demands accountability, regular auditing, segregation of client funds, etc. Without this, the risk of mismanagement or wrongful withholding increases.

• Jurisdictional enforcement: Courts or regulators in your country may have little ability to intervene if the broker is offshore and unlicensed.

Conclusion: Safety is Always Number 1!

MTradings low WikiScore, lack of verified, meaningful regulation, its inclusion on the SC Investor Alert List, and repeated complaints from users combine to form a strong warning. For Malaysians especially:

• Dealing with brokers on the SCs alert list exposes you to risk with little protection.

• Even if promotional features look attractive (low minimum deposit, bonus offers, high leverage), they do not compensate for the absence of regulation.

• Always verify a broker‘s licence status from official sources: SC Malaysia, FCA (UK), ASIC (Australia), or similar. Don’t take a broker‘s claim at face value, but seek verified proof such as the licence number, status, and regulatory authority’s website confirmation.

• Consider regulated alternatives where you can have stronger legal protection, transparent policies, and fair complaint resolution.

At WikiFX, our mission is to empower investors with the knowledge and tools required to make safe, informed decisions. When selecting an overseas broker, we strongly advise exercising due diligence and, wherever possible, choosing one regulated by a reputable authority such as Australia‘s ASIC, the United Kingdom’s FCA, or other recognised regulators.

Should you fall victim to fraudulent activity, it is essential that you act without delay. We recommend reporting the matter to the police or consulting a qualified solicitor, as well as contacting your local consumer affairs office.

To further support investors, the WikiFX app delivers daily push notifications highlighting brokers identified as posing withdrawal risks. For timely updates and reliable protection, we encourage you to download the app.