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Mcoinmarket Review - is it scam or safe?

Mcoinmarket Review - is mcoinmarket.com scam or good forex broker?

RATING: 1 / 14 REVIEWS ForexBrokerz Mcoinmarket
Mcoinmarket is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Deposit Maximum leverage Spread
Micro Up to 0.5 BTC 1:20 N/A
Mini Up to 2 BTC 1:25 N/A
Silver Up to 10 BTC 1:30 N/A
Gold Up to 20 BTC 1:35 N/A
Diamond Up to 45 BTC 1:40 N/A
VIP More than 45 BTC 1:50 N/A

 

Mcoinmarket offers trading in wide range of CFDs with a focus on cryptocurrencies via the above account types. As you can see from the table above, the broker does not share much information on the cost of trading. Besides, there more red flags around Mcoinmarket, so make sure you read this review prior to investing any money.

 

 

Mcoinmarket Advantages

 

Multitude of CFDs offered, various pairings

One of the few possible benefits of using Mcoinmarket is the broker’s rich product portfolio. It includes wide range of CFDs - on cryptocurrencies, indices, commodities and stocks, and all kinds of pairings between those are possible. However, Mcoinmarket does not offer any forex pairs for trade. What is worse, this broker is not regulated, which means that every cent you invest with it is at risk. Here is a list of brokers that offer trading in Bitcoin and are tightly regulated:

 

 

>> Well-regulated brokers, offering Bitcoin and more <<

 

 

Leverage provided

According to the information on Mcoinmarket’s website, the maximum leverage levels provided range from 1:20 to 1:50 on different account types. These are comparatively high ratios for volatile assets such as cryptocurrencies. That is why the majority of real crypto exchanges don’t support margin trading, while most crypto CFD and forex brokers do, but the usual levels are ranging from 1:2 to 1:10.

 

 

Mcoinmarket Disadvantages

 

No financial regulation

Mcoinmarket is allegedly a brand of Zed Consult Ltd., a company operating out of in Bulgaria. The website of this broker also features the name of a Russian company – OOO «САМДАР», but mentions nothing whatsoever about regulation. And, according to the legislation in Bulgaria, CFD providers have to be authorized by the local Financial Supervision Commission (FSC), or a similar institution in another EU Member State. Needless to say, Zed Consult Ltd. is not licensed by the Bulgarian FSC, which makes this broker highly unreliable.

 

Furthermore, the company also operates another brokerage brand, XCoinBroker, and considering the plethora of negative user comments posted to our review, this is most likely a scam broker. So, our best advice is to stay away from both Mcoinmarket, XCoinBroker, and any other dubious broker operating illegally.

 

Trading conditions not clear, no demo accounts

On top of the lack of corporate regulation, the website of Mcoinmarket contains no information about spreads and that is another significant disadvantage of this broker. Furthermore, Mcoinmarket does not offer free testing service with “paper” money, so its pricing is not transparent at all.

 

“Scmamex” platform, no MetaTrader

Just like XCoinBroker, Mcoinmarket offers its services on an oversimplified web trading interface we have dubbed “Scamex”, as it is only used by shady unregulated brokers.

 

This trading solution lacks many of MetaTrader’s advanced features, such as the great charting and the automated trading options by the highly praised Expert Advisors.

 

>> Trade with a MT4 broker instead? <<

 

 

No forex trading

This is a minor flaw when compared to the previous disadvantages of this broker, but yet we must mention it. One cannot trade forex with Mcoinmarket, even the most popular and liquid currency pair, EUR/USD, is not offered by this broker.

 

 

Conclusion

 

Overall, there are a lot of things we don’t like about Mcoinmarket: it does not offer forex trading, does not support the MT4, nor MT5 platform, does not disclose the cost of trading. Yet, our most serious concern with this broker is that it does not hold a forex broker license.

 

There are thousands of scams in the forex and cryptocurrency markets, so the only way to stay safe is to only deal with brokers licensed by reputable financial regulators. Companies regulated by reliable financial agencies like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) have to follow strict financial and ethical rules, which provides certain investment guarantees to their clients.

 

 

>> A list of brokers licensed by the FCA <<

 

 

Let’s sum up the Pros and Cons of Mcoinmarket in a few words:
 

Pros Cons
Many CFDs available, various pairings Not regulated
Leverage provided Trading conditions not clear, no demo accounts
  Scamex platform
  No forex trades

 

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Traders` reviews for Mcoinmarket

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Slippage

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Scam website - DO NOT USE THEM, a bunch of thieves

Exactly the same as other negative reviews on here. I lost thousands of £ because of them.
I'm now working with the bank to see if i can get ANY of my money back, but I doubt it.
They pull you in with a few trades that work, then, all of a sudden, the money gets wiped out. Then you're in RECOVERY mode, and they tell you that trader's been sacked. That's an outright lie as they're posting positive reviews on Trust Pilot, by the very trader (Becky Carter) that they said had been sacked.

Don't go anywhere near them.

For all the reviews on here - use social media to get the word out that they're a bunch of thieves

Andrew 11/13/2019

Bad experience

My experience with Mcoinmarket is bad if not horrible. I spend days in stress, tired, with no sleep...and on the end my money is stil not back.
I started with them with 500€. Translated 500 tether. The first day I won a bit. The second day they asked me to invest 5000€ "so I could win faster and more". I told them I would first go so. The third day their pressure to invest the 5000€ went intense. THey started to treat me very bad and respectless...To resume... after a while of being pressured to invest the 5000€, being ofended a few times and not seing much win I decided to withdraw everything I had stil. Til today, 2 moths after, I didn't heard from them, they don't answer my emails or calls and I don't know about my money. Very sad...THAT FIRST THEY WERE VERY NICE, AFTER I INVESTED THE MONEY THEIR MANNERS CHANGED, LATER THEY ACTED UNRESPECTFULLY TO THEN IGNORE ME. I learnt man can only withdraw if they give the yes, otherwise your money once inside is gone. To say as well I worked hard to make win, they didn't help me with any information or support. I had to learnt all by myself. All in all let your hands of them...and your money will be safe.

Carlos 10/19/2019

how to delete account

Hey guys,

Do you know how to delete your account? And how to remove myself from their system? I already asked them, but they still call me. Really annoying....

Rose 07/26/2019

Mcoin SCAM

Just lost 5000 pounds to their shady system when the finance manager asked to me to press wrong button to sell. Lost all my money. His senior rang to say he has fired the guy dealing with me. Asked me to invest another 5000 pounds to help recover the lost funds. I checked with my bank and they said they would not cover Crypto currency dealing. I flatly refused to invest anything else with them.
Checked Google reviews and lots of people in the same situation. They took the money via www. Jubiter.com. Stay away from both of them....
If Negative review helps. This is as negative as it gets. Open to advice on how to get money back from them.

Dr. Omer Mir 07/19/2019

Mcoinmarket is a big Scam --- DO NOT TRUST and DO NOT TRADE with them

I am made to lose all my money of USD16K by scammer by Vlad Olsson and Steven Shark.
They refuse your withdrawal and use low handed tactic to made you fund your account. When you finally tell them no more and to withdrawal they made you lose all your money with they trading platform. DO NOT TRUST their trading platform which is manipulative by them.

Kristin Koh 07/10/2019

I lost thousands with Mcoinmarket

I have invested quite a lot of money and it has been misused and I haven't been guided very well resulting in me loosing all my money. I am devastated.
I have been very vunerable and needed money and I was assured if I invested x amount of money they would increase my monies to another £20,000 so I thought I was going to get some really good returns. The guy was very persistent and kept phoning and nagging, really good at it, quite flattering at times! Then he put my money on one particular share and within a few minutes I lost thousands. Then he wanted me to invest another £5000 to try and get this money back, why would I do that? I had invested a little amount which I hadn't lost on another share which was still live. Today it was still live and I wanted to withdraw the money, within seconds of me trying to do this, he was on the phone trying to get some money back for me, he told me what to do and asked me to invest 380 in the box he advised. Then went balistic at me saying he had only told me to put 80!!! He called me names and hung up, so all in all I have lost this money too. Where is my money going that I have lost? It seems too surreal too me. I don't like it at all it doesn't sound right too me. If anybody knows of anything I can do I will do it

Rosalyn Small 07/09/2019

thieves

they use a blogg as a website,and they robb you when they can.beware.these people should be in jail.

Julio Jose Santos 07/07/2019

Mcoinmarket Matt Miller

Matt Miller is a con man working out of WhatApp we reported this to whatapp
Mcoinmarket is a scam company working from Bulgeria .( DO NOT TOUCH THEM )
They only wont your money

DAVID CHRISTIANSEN 07/04/2019

My dad lost money - do not ever trust this company

My dad rightly so got carried away with the bitcoin hype and invested $250 dollars with Mcoinmarket. They then tried to take a further $500 without his authorisation so his bank stepped in a blocked the transaction. When he told me of this is did some research and it wasn't hard to see these guys are crooks. I immediately tried to get his money back through their very flaky application online but had no luck. I have called and emailed several times but no joy. They keep calling my dad who is in his 80's and then when he says he want his money back they hang up. I feel sorry for me dad as it was the right time to invest but just with the wrong company. Please do not fall for this trap. These guys are only after one thing and that's to scam you. I cant believe they are getting away with it.

Jerald Aidoo 06/26/2019

They will close and re-open

At some point this company will close and re-open under another name.
I would recommend that you only use licensed broker.
BE WARNED THIS COMPANY IS A SCAM...

George Thomas 06/26/2019

Be Warned! Mcoinmarket

Do not use this company, they will scam you out of your money and then try to blame it on you.

You will lose all your money on o e final deal once you ask to withdraw it.

George Thomad 06/24/2019

I lost 300 Euro

It's e big scam

Frank Faedi 06/23/2019

Mcoinmarket.com are SCAMMERS

Just stay away, they only exist to steal your money. The moment you say you want your money back, they twist it so they can say you lost the lot in a trade, utter crap for God's sake stay away from them or you will be sorry

Right from the off they get control of the wallet containing the bitcoin from jubiter the moment your money is in the wallet you have lost it, but worse than that you have to give them all your details and you are giving them to people you cannot trust, I lost a lot of money because I got drawn in please please do not give them a penny.....lowlife thieves

Tom Anderson 06/22/2019

I only lost £250

i wish i read this before i invested £250 but least i know now and i won't be investing anymore in this company lucky i only lost £250 i just won't be doing anything like this again i think my money safer in my bank then in a cryptocurrency

Vanessa Lewarne 06/10/2019

Son unos ladrones

He invertido una fuerte cantidad de dinero en esta compañia .Lo he perdido todo
son unos autenticos ladrones.Pierdes te dan un bonus y vuelves a perderlo todo.No pongais ni un euro


Translated by Google:

They are thiefs

I have invested a lot of money in this company. I lost everything
They are real thieves. Walls give you a bonus and you lose everything again. Do not put a single euro

Leopoldo Mascarell Sanchis 06/05/2019

Never use MCOINMARKET!

Mcoinmarket is a complete scam!!!! NEVER invest there. You can never withdraw money and they are always asking you to invest more!

Cris 05/31/2019

Mcoin market is a scam

The brokers want you to invest more and more.
But you cannot withdraw your money. Matt Miller is the head scammer. It is a big scam!

Clark Bremner 05/04/2019

My farther was conned by Mcoinmarket

My farther was conned by these bastards he has had a stroke and was taken in by a Matt Miller accounts manager we tryed and tryed to contact Mcoinmarket turns out there email address,s don't egzist they even got him to open a WhatsApp account so Matt Miller could keep in contact DONT GO NEAR THEM A BIG SCAM

Tom 04/30/2019

Mcoinmarket - Țeapă!

Să nu băgați nici un cent in mcoinmarket...eu am luat țeapă.
Acum multe luni în urmă am încercat să fac un cont. Am făcut contul şi toate datele au rămas pe site-ul lor.
Am fost sunat de la deschiderea contului şi până azi de zeci de ori.
Într-un final am acceptat să încep cu o investiție de minim 225€.
Bani i-am trimis în contul lor...şi cam atât, nimic mai mult.
Am rămas cu bani dați şi fără nimic.
Să nu faceți ca mine dacă vreți să vă rămână bani în cont.


Translated by Google:

Do not put any cent in the mcoinmarket ... I got stuck.
Many months ago I tried to make an account. I made the account and all the data stayed on their site.
I've been called since the account was opened up to ten times.
Finally, I accepted to start with a minimum investment of 225 €.
Money I sent them to their account ... and that's all, nothing more.
We have money left with nothing.
Do not do like me if you want to have money in your account.

Viorel 04/20/2019

Mcoinmarket.com is a big scam !!!

I also had similar story. I have lost my 10000 EUR.
The operations at the beginning where manipulated to show earnings but it is all FALSE. When I asked for a withdrawal they make you lose all your money in one operation so they get all your money.
Total scam !!! Don't trust them at all !!!
Don't repeat the story

Jaime 03/21/2019

Big scam - Don't invest your money!

Don't invest your money. I had similar story. Firstly they are telling you trades that you winning. Then 1 day 1 operation and whipped out my account with 4.000 dollars. Then he said invest more money, I will get 1.500 in bonus to recover money. Don't ever invest your money. SCAM

Raf 03/19/2019

Mcoinmarket is a BIG SCAM

Be really careful with Mcoinmarket, they call, they show how to win the 97,5% of the operations with criptos, at the beginning your account will grow just doing what they tell you to do (it seems easy and without risk) but one day they tell you a big operation in which you´ll lose almost your full account (a way to get more money from you) and you can put more money to save your account, and one day they tell you other bad operation in which you lose all your money.

Conclusion: the operations at the beginning where manipulated to show earnings but it is all FALSE. And they make you lose all your money so they get all your money.

IT IS A BIG SCAM, DO NOT TRUST THEM!!!

Javier Vega 02/18/2019

Mcoinmarket.com account

This is bullshit i cant log into my account

imraan january 01/26/2019
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