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Ma Banque Crypto Review - is it scam or safe?

Ma Banque Crypto review - Is mabanquecrypto.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Ma Banque Crypto
Ma Banque Crypto is an offshore broker. Your money is not safe.

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On first glance traders might be mislead that Ma Banque Crypto is a crypto exchange. That however is not the case. At best Ma Banque Crypto is a forex and CFD broker with a focus on the crypto market. 

 

The difference between a crypt exchange and a CFD broker is that with the first you own the crypto assets, while with the second you just bet on price with a Contract for Difference. You may check the following article for details on the subject:

 

The main issue with Ma Banque Crypto, however, is the fact that their website is virtually anonymous and as they do not mention anything about a license, their operations on regulated markets like the European Union, the US, Canada, Japan or Australia are basically illegal.

 

Trading account  Min. deposit Max. leverage Spread

The 5,75% Account

10 000 EUR n/a n/a
The VIP Account 50 000 EUR n/a n/a
The Inimitable Account 100 000 EUR n/a n/a
Le Privelege Account 200 000 EUR n/a n/a

 

Ma Banque Crypto Advantages:

 

A variety of crypto CFDs and other assets

 

The only possible advantage about  Ma Banque Crypto we were able to come up with is their list of trading instruments, supposedly featuring over 70 crypto assets, as well as forex pairs and CFDs on indices, precious metals and energies. Still, if you want to trade crypto, you better try a regulated broker offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Ma Banque Crypto Disadvantages:

 

No license 

 

From their Terms and Conditions we understand that Ma Banque Crypto is owned and operated by Ma Banque Crypto Ltd., which is supposedly based in the UK – there is a contact address, but not a phone number and that is not very reassuring. In any case all brokers and financial companies in general operating in the UK should be duly registered and authorized by the local Financial Conduct Authority (FCA) or another official financial regulator in the EU like for example the Cyprus Securities and Exchange Commission (CySEC).

 

Unfortunately Ma Banque Crypto and the company behind it are not in the FCA registers – we diligently checked that, which means the broker is illegally targeting customers in the UK and other European counties like France (Ma Banque Crypto website has a French language version as well).

 

Besides, trading with unregulated brokers is extremely risky as too often they are simply involved in scam. 

 

Properly regulated brokers on the other hand do guarantee the safety of your funds, because of the strict financial and ethical rule they are obliged to follow.

 

On top of that with a FCA broker your funds will even be insured for up to 85 000 GBP, so here you may check our list of brokers regulated in the UK as well:

 

>>FCA Regulated Forex Brokers<<

 

Unusual clauses in the Client Agreement

 

In their Terms and Conditions Ma Banque Crypto says “they will not be liable if for any reason their website is unavailable at any time or for any period” and that is not something a legit broker would ever say. See for yourself:

 

 

Outrageously high minimum deposit requirement

 

For their opening account  Ma Banque Crypto requires a deposit of at least 10 000 Euro and that is simply outrageous. Bear in mind that with most brokers you will be allowed to open a trading account with about 250 USD, while with some big well established companies like FBS and IG you do not have a minimum deposit requirement whatsoever.

 

No information about the trading conditions

 

The information on the Ma Banque Crypto website is quite scarce and as we were not able to open a demo account either, we can not comment on their spreads or leverage. In any case here you may always check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Skrill not available as a payment method

 

Ma Banque Crypto accepts payments solely with cards like VISA and MasterCard, bank wire and crypto coins like bitcoins. The broker does not accept payments with Skrill for example, and that is worth noting, because of the new anti-scam policy of the money transfer company – since October 2019 Skrill is available only to brokers, that can prove to be holding a legit license.

 

MetaTrder4 not supported

 

Ma Banque Crypto offers some web based trading platform which we were not able to check as they do not have a demo account. In any case, what we can recommend is to find a regulated broker, which supports the MetaTrader4 platform – undoubtedly the most widely used trading software on the market:

 

 >>MT4 Brokers<<

 

MetaTrader4 is highly reliable, with user friendly interface and excellent charting tools. And besides, the platform supports the option to run automated trading sessions with the help of customizable trading robots and almost 100 market indicators.

 

Conclusion:

 

Depositing your funds with Ma Banque Crypto is the last thing we can recommend. The website is almost completely anonymous and most probably operates as a scam. So your best option is to chose only among brokers, properly licensed and authorized by a well known and well respected regulators such as FCA in the UK, ASIC in Australia or CySEC in Cyprus – the three most popular regulatory destinations in the industry.

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Traders` reviews for Ma Banque Crypto

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