de | cn | ru

MM Financial Experts Review - is it scam or safe?

MM Financial Experts Review - Is mmfinancialexperts.com scam or good forex broker?

RATING: 1 / 3 REVIEWS MM Financial Experts
MM Financial Experts is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions


 

Account type    Minimum deposit Maximum leverage Spread
Micro $1.500 1:200 Around 4 pips*
Mini $2,500 1:200 Around 4 pips*
Silver $10,000 1:200 Around 4 pips*
Gold $50,000 1:200 Around 4 pips*
Diamond $250,000 1:300 Around 4 pips*
VIP $500,000 1:400 Around 4 pips*

*this is the spread we saw on the platform, the broker makes no specific claims regarding the spreads


MM Financial Experts is a forex/CFD broker and a binary options provider. They apparently target wealthy individuals, given the requirements for the different account types. That being said, their offer isn’t impressive by any standard.

 


MM Financial Experts Advantages



Variety of trading instruments
MM Financial Experts provides access to a lot of markets (via CFDs). Other than the forex pairs, commodities, indices, cryptocurrencies and even some specific stocks are supported.



High leverage available
This broker offers high ratios, which is only good for those who understand the risk involved with such trading. We don’t like the fact they provide even higher “gearing” for the bigger clients, allowing them to open enormous positions.



Bitcoin deposits accepted
One can deposit at MM Financial Experts, via Credit Card and Bitcoin. While the homepage of the broker has the logos a few e-wallets, we didn’t see them, after opening an account. This is only the begining of the negatives.


MM Financial Experts Disadvantages


No regulation, possibly known scammers
MM Financial Experts is owned by BALI LIMITED LTD. This is a very generic name for a company, which makes researching them rather difficult. We found a warning by the Italian financial watchdog CONSOB against a company with this name, but we can’t confirm this is the same one. The address provided at the broker’s website is in Bulgaria, but there are no signs of affiliation with the local Financial Supervision Commission (FSC).



Absurd account types
The most obvious flaw of this broker are the high deposit requirements. People who are willing to venture into the world of trading should only risk money they can afford to lose. By that logic, the clientele at MM Financial Experts should be very wealthy.


No info on trading conditions
This broker does not provide any information on the costs of trading. Most companies which provide multiple account types give lower spreads for the bigger clients.


High spreads
After registering an account at MM Financial Experts we saw spreads floating around 3.8-4.0 pips on the major currency pairs. This is an unacceptable level in the current day and age. For a comparison of the rates given by some of the industry leaders, be sure to take a look at our dedicated real-time platform.



>>Compare forex spreads<<


Inferior trading platform

MM Financial Experts only offers a web based platform, which we have seen at other shady brokerages. While we aren’t aware of the name of this software (or the company behind it), we know it is spreading fast and we are not that impressed with it. Our only explanation for its boom is the fact it supports spot trading alongside binary options. Other than that this is a very basic platform, which barely does its job. Here is a preview (click to zoom):




Although we will not call this a complete failure, it significantly dwarfs solutions like MetaTrader4. This is basically the “standard platform”, provided by a lot of brokers. While some of them may also not be trust worthy, check the list below to see the top-rated ones.


>>Top MT4 brokers<<



Bonus offer comes with small print
MM Financial Experts offers various on deposit bonuses, which we haven’t mentioned as a positive. The reason for that is the fact, most people will probably not notice the conditions associated with them. One must trade assets worth thirty times the sum of their investment and bonus, before he can make a withdrawal of any kind. This will leave some traders unpleasantly surprised.


No demo accounts
This may be a very minor issue, when compared to the rest, but we need to mention it. In order to do a proper review, we had to open a real account with this broker.


Conclusion



MM Financial Experts is an unregulated company which offers spot trading and binary options. Their presentation is very basic, with no trading conditions being mentioned. The ones we saw on the platform were not competitive. Given the high deposit requirements, they are banking on wealthy individuals, who are not that familiar with trading.


We may not be able to definitively say this is a scam, but a lot of signs point in that direction. We generally don’t recommend unregulated brokers, but on top of that this one looks particularly shady. There are many advantages of trading with a regulated company and we will briefly mention some. We will use some of the rules applied by the United Kingdom’s Financial Conduct Authority (FCA) to illustrate.


 >>FCA regulated brokers<<


First of all these brokers will pay you, whenever you demand a withdrawal – they must keep client funds in segregated accounts. These special banking terms, mean they can’t simply make transactions as they will, but have to follow your instructions and trading results. On top of that, FCA brokers are members of the Financial Services Compensation Scheme (FSCS). In case the one you are trading with declares bankruptcy, you will be compensated by the Scheme, up to £50,000.



 
To recap MM Financial Experts:

Pros Cons
Variety of trading instruments No regulation, possibly known scammers
High leverage available Absurd account types
Bitcoin deposits accepted No info on trading conditions
  High spreads
  Inferior trading platform
  Bonus offer comes with small print
  No demo accounts

 

Latest news about MM Financial Experts
No news about MM Financial Experts. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for MM Financial Experts

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

MM Financial Experts - tuve problemas con la plataforma

En mi caso, tuve problemas con la plataforma, tomo una operación de stop lost sin que el precio lo alcanzara, los spread eran muy altos, y la ultima que me hizo fue que cerre una operacion con ganancia, de 536 Euros, que segun ellos nunca cerre hasta que se cerro porque se comio mi dinero de la cuenta, ademas que parecia haber un retardo en la apertura de operaciones y mercado. Muy habil este Sr Mark, afortunadamente mi desconfianza no me dejo hacer un segundo deposito, y cuando quise retirar 700 que me quedaban de los 2000, me deje llevar por el, para no retirarlos si no que ofrecia recuperarmelos, la subio en 100 Euros y luego yo realice esta operacion que les comento, que segun ellos nunca cerre, y si lo hizo, estuve 2 min en la operacion, y ellos dijeron que nunca la cerre y duro poco mas de 6 min, antes que se agotara el saldo de la cuenta.

Translated by Google:

In my case, I had problems with the platform, I take a stop lost operation without the price reaching it, the spreads were very high, and the last one that made me was that I closed an operation with profit, of 536 Euros, which according to them I never closed until it was closed because my account money was eaten, and there seemed to be a delay in the opening of operations and market. Mr. Mark very skilled, fortunately my distrust did not let me make a second deposit, and when I wanted to withdraw 700 that I had left of the 2000, I got carried away by him, so as not to withdraw them if not offering to recover them, he raised it in 100 Euros and then I carried out this operation that I told them, that according to them I never closed, and if it did, I was 2 min in the operation, and they said that I never closed it and lasted a little more than 6 min, before the balance of the bill.

Leonardo 09/19/2019

MM Financial Experts - No se dejen engañar

La compañía MM FINANCIAL EXPERS me robaron 8000€ primero te llama el señor mark Castelló y te dice que abras una cuenta con 1000 para que tu conozcas la plataforma y el te ayuda a ganar dinero y te envía las ganacias de los 1000 que en mi caso fue 600€ luego te engaña para ingreses más dinero yo hice un préstamo de 7000€ y pise en su empresa y a partir d ahí los que ganes el no te devuelven las ganacias que tengas con la enpresa no te contesta y atiende a tus correos desde que ingrese ya 12 meses no puedo sacar el dinero y este hombre Castelló opero mi plataforma y puso todas mi capital en riesgo por favor señores si leen esto no se dejen e.gñar por.este hombre castello


Translated by Google:

Do not be fooled
The MM FINANCIAL EXPERTS company robbed me € 8,000 first, Mr. Mark Castelló calls you and tells you to open an account with 1000 so that you know the platform and he helps you earn money and sends you the earnings of the 1000 that in my case It was € 600, then he tricks you into entering more money. I made a loan of € 7,000 and stepped on his company and from there those who win he does not return the profits you have with the company does not answer you and heed your emails since enter 12 months now I can not get the money and this man Castelló operated my platform and put all my capital at risk please gentlemen if you read this do not let yourself be taught by this man castello

Cayetana 09/10/2019

support didn`t working

It is not to understand. Support never gives answer. Withdrawal is impossible. There is no basis for partnership !

Engelmann,Heinrich 05/11/2018
de | cn | ru