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MRT Markets Review - Is it scam or safe?

MRT Markets Review - is mrtmarkets.com scam or good forex broker?

RATING: 1 / 4 REVIEWS MRT Markets
MRT Markets is an offshore broker. Your money is not safe.

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Trading Accounts

Account Type Minimum Deposit Maximum Leverage Spread
Standard $500 1:500 fixed, 3 pips
Gold $5,000 1:500 fixed, 2 pips
VIP $10,000 1:500 fixed, 2 pips

 

MRT Markets is a forex broker, which offers three account types as shown in this table (plus an Islamic account). The company also provides trading ideas, which are given to you by your personal account manager. This is a highly dubious practice, which reputable brokers usually do not offer, as it creates the possibility of conflict of interest.

 

The Company. Security of Funds

 

Company Country Regulation
KHO TECH Ltd. Saint Vincent and The Grenadines N/A

 

Currently MRT Markets claims to only be owned by KHO TECH Ltd., a company registered in Saint Vincent and The Grenadines and is also associated with another broker, called 10brokers

 

MRT Markets claims to be regulated by the Private Investor Protection for Securities and Exchange Independent Registration for Financial Service Companies (PIPSEC). PIPSEC Limited, the company behind the organization, offers simply registration and mediation services.  PIPSEC requires from registered companies a minimum equity of 35,000 USD, and membership of a dispute resolution scheme.

 

 In essence, this is not a regulator you should trust. This is is a non-government organization which supposedly oversees, otherwise unregulated brokers. State regulators, on the other hand, are related to a certain jurisdiction, and operate on a different basis - they have the ability to create and enforce rules on registered companies operating in the financial services sector.

 

 

For example, UK's Financial Conduct Authority (FCA) requires mandatory implementation of segregate accounts. This forces forex brokers to keep client's funds separate from the firm's, in effect preventing the possibility of fraud. Another very important rule is the mandatory participation in the Financial Services Compensation Scheme (FSCS). It guarantees clients investments, in the case of broker insolvency, up to GBP 50,000 per account.

 

Judging by their Twitter feed, MRT Markets appears to be targeting Arab-speaking clients. Other than that, there are several complaints against the company in on-line forums, which is quite contrary to what the MRT abbreviation stands for -   "Most Reliable Trading".

 

Trading Conditions

 

Minimum Initial Deposit

The minimum deposit at MRT Markets is $500. This is substantially higher than what other brokers currently require for the creation of a new account. In their efforts to attract new clients, IG has even removed the minimum deposit level - you can create an account for as low as you want to.

 

Keep in mind, you should not consider this a crucial factor, when comparing brokers, unless you are a new trader, who is willing to move on after months of demo trading. Even small accounts can tell you if you can handle psychological pressure of trading (as long as they aren't too small). This can save you valuable money, in the case you realize this isn't your cup of tea. Veteran traders should be dealing with larger amounts, so the minimum deposit level should not be relevant.

 

Average spreads & Commissions

MRT Markets has high spreads, when compared to the current offering by other brokers. The EUR/USD spread is fixed at 3 pips, for the small accounts. Although you may say spread only matters if you are a hyper-active traders (or scalper), the difference in this case is so high, it would have an impact on any trader's results. Most brokers offer something in the 1.0-1.5 pips range nowadays. By the way, we have set-up a real time comparison of spreads offered by some of the leading brokers here.

 

Leverage

The highest possible leverage at MRT Markets is 1:500. If this sounds like a lot to you - yes it is. However it is not that unusual nowadays.

 

Such high leverage ratios can be dangerous in the hands of an new trader. In fact, some sources even quote this as the biggest reason for the loses, suffered by newbies. A sound understanding of risk management is key for your long-term success.

 

Trading Platforms

 

MRT Markets offers the popular MetaTrader4(MT4) platform. It is, pretty much, the industry standard at this point in time, with lots of brokers providing it. Its popularity has made the growth of a massive development community. There are no more custom tools for any other trading platform - new technical indicators, as well as automated trading systems are constantly being created.

 

Furthermore the platform has mobile apps, which we have found to be pretty reliable. You can check recent market moves as well as manage your positions on the go. Even the charting capabilities manage to perform in the mobile version. That being said, the only major downside of MT4 is the lack of multiple-monitor support, which would surely frustrate experienced day traders (in other asset classes).

 

Methods of Payment

 

MRT Markets offers few methods of payment:  Bank Transfer, Credit/Debit Card and CashU cards. E-wallets, such as Skrill, have gained popularity with forex brokers in recent years, mainly due to the instant transactions which they provide. Bank Transfers, on the other hand, could take several business days.

 

Conclusion

 

MRT Markets is an unregulated forex broker. The company has received dozens of negative user reviews on popular forums. Furthermore the spreads are higher than average. The company also applies the fairly dubious practice of having "account managers" giving clients trading ideas - this could only create conflict of interest. Overall, we would recommend staying away from this company. Here is the list of this broker's strengths and weaknesses:

 

Pros Cons
MetaTrader4 platform No regulation
  Off-shore registration
  Account manager giving you trade ideas
  High fixed spreads
  Negative users reviews on forums

 

Latest news about MRT Markets
No news about MRT Markets. Check back later.
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Traders` reviews for MRT Markets

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

 

 

Stolen my account found

Still you don’t do anything to resolve my problem with my account the account manager he stole my money and he did a lot of things without my approval and he cut all the connections between us
And he did the trading in the app without to give me any information this is not right be fair with me please because I need my money back to my account.

Hikmat Amacha 09/04/2019

escroquerie

JEAN HIMBERT est un manipulateur un escroc 10 brokers x90 mrtmarkets promfx sont des arnaqueurs qu'ils ailles bruler en enfer

Translated by Google:

JEAN HIMBERT is a manipulator a crook 10 brokers x90 mrtmarkets promfx are scammers they go burn in hell

damien rahou 08/24/2018

escroquerie

JEAN HIMBERT est un escroc je donne une récompense à ceux qui me donnerons des informations le concernantjesuis sur facebook et skype

Translated by Google:

JEAN HIMBERT is a scammer I give a reward to those who give me information about it on facebook and skype

damien rahou 08/23/2018

Scam - MRT Markets is involved with PIPSEC?

If MRT Markets is involved with PIPSEC. it is a scam. Neither is regulated. If you want to know a fact about a company ask it where it lives. I did that with PIPSEC. Their address is both prestigious and fictional.

Peter Colledge 03/16/2018
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