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May 13, 2016

Question:MXTrade has cancelled my profits. Is this a SCAM broker?

MXTrade - What's now?

We are no longer promoting MXTrade. The information regarding to MXTrade on the website 'Hercules.Finance' maybe outdated. ref. MXTrade


Please note that MXTrade has terminated the contracts and we are not allowed to introduce this Broker.

Answer:

Please note that MXTrade does not allow some trading methods on its trading platform, which are:

  • Scalping(positions closed within 5 minutes)
  • EAs(Algorithm Trading)
  • Arbitrage

Also, the broker does not allow some profitable Professional Traders to trade.

In case the broker finds such activities on its trading platform, MXTrade cancels profits generated in the trading accounts.

There are number of traders reported this trouble with this broker, so in case you are looking to trade with MXTrade, please confirm with its official customer support if your main trading method is allowed with them or not.

Where to complain?

Unfortunately, MXTrade is not regulated by any recognized financial regulators, but only registered its business on IFSC in Belize.

Also this company regulation is not applicable to European citizens.

In case you believe that the broker is working on a fraud, you may discuss the matter with your lawyer and take necessarily actions.

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