Basic Information
Registered Region 
Canada
CanadaOperating Period
2-5 years
Company Name
MTFE Group
Company Website
Company Address
500-7030 WOODBINE AVE MARKHAM ON L3R 6G2
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WikiFX
Scam Brokers
Score
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/10
The WikiFX Score of this broker is reduced because of too many complaints!
MTFE
Canada
|
2-5 years
|
Scam Brokers
|
Suspicious Regulatory License
|
Suspicious Scope of Business
|
High potential risk
http://www.mtfe.ca/
Website
Rating Index
Contact
http://www.mtfe.ca/
500-7030 WOODBINE AVE MARKHAM ON L3R 6G2
The WikiFX Score of this broker is reduced because of too many complaints!
LicensesLicensed Entity：TOP 1 MARKETS PTY LTD.
License No. 001276870
This platform is a Ponzi Scheme. Please stay away!
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
5
28
Website
Company Summary
News
Wiki Q&A
Comment
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Official website
Website
mtfe.ca
52.128.241.50Server LocationICP registration--Most visited countries/areas--Domain Effective Date--Website--Company--
Company Summary
General Information
MTFE (METAVERSE FOREIGN EXCHANGE GROUP INC) is a Canada-based financial institution, providing access to a range of financial markets, including Forex, Commodities, Indices, Stocks.
Regulatory Details
MTFE (METAVERSE FOREIGN EXCHANGE GROUP INC). companies provide services in accordance with local regulations and have their own licenses and licenses to operate services. MTFE is regulated by the Canadian FINTRAC - Money services business. Authorized Regulatory Authority (MSB). (No.: M22076570) provides corresponding financial services to professional and institutional clients.
Market Instruments
MTFE does not provide any advice or opinion on the purchase, holding or sale of its trading products. All products this broker offer are OTC derivatives based on global assets. All Services provided by MTFE are based solely on execution of trading orders.
With MTFE, investors can get access to the following financial markets:
Forex currency pairs
Commodities
Indices
Stocks
Cryptocurrency
Account Types
MTFE fails to provide various tiered account options, only a live account and a demo account available. You have to admit that free training account plays a vital role in making you get familiar with this platform, practice your trading strategies without risking your real capitals.
Trading Volume
Trading particular instruments on MTFE on this platform, you need to figure out its minimum and maximum trading volume. Here is what MTFE sets: minimum transaction 0.01 lot, maximum trading transaction 20 lot. Trading hours varies depending particular trading assets.
Spreads & Commissions
Believe or not, spreads offered by this MTFE is much higher than many other brokers, and thats the reason why we suggest you to choose a better alternative.
Trading Platforms Available
However, lack of MT4 or MT5 trading platform makes this broker less reliable, overall. What this broker provides is their proprietary trading platform that can be downloaded on any devices, including IOS, Android, and Web devices.
Deposit & Withdrawal
MTFE leaves us nothing concerning payment methods supported, only one promise: Withdrawal request will be processed quickly, and funds will be deposited into your bank account immediately.
I Would say it is weird for a broker to do so.
Customer Support
MTFE seems to offer 24/7 multilingual customer support, which can obviously stand out among many competitors. I tested its online chat support, and their customer support staff did have a good performance, answering my questions responsively and professionally. More diversified contact channels, like phone, email, social media platform, etc, are not available.
Restricted Regions
Please note that MTFE doesnt accept traders from the United States, Belgium, Iran and North Korea.
Keywords
- Scam Brokers
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
News
News CHARITY: MTFE BD TEAM MTFE Group distributes supplies to depressed and needy people
On March 7, 2023, MTFE’s Bangladesh team will distribute supplies to local "depressed and needy people" in Bangladesh. The slogan is "MTFE Group is always with the world's depressed people".
News MTFE Nigeria Guideline
Recently, MTFE has been sought after by many people in Nigeria. It is reported that the group started its globalization strategy in June last year, and has established more than 100 offline operation service centers in more than 20 countries around the world.
News MTFE is gaining its popularity in Bangladesh
Combining its AI technology with real-world financial trading
News MOBASSHER IBAD, CEO OF MTFE DUBAI, ATTENDS THE NEW MTFE OFFICE LAUNCHING PROGRAM AT ROLEX TOWER
On February 14, someone associated with MTFE released a video on YouTube. In this video, we can see that the forex broker, MTFE, launched a new office program at Rolex Tower, Bur Dubai. The CEO of MTFE Dubai, Md. Mobassher Ibad, has attended this new official launching ceremony program.
News The excellent CEO of MTFE (SINOJ) held the Kerala India Cup of 2023 to pay tribute to Messi.
According to the report, MTFE held the Kerala India Cup of 2023 to pay tribute to Messi.
News India Kerala Excellent CEO (Ameer) MTFE Operation Center was established
on January 12, 2023, MTFE established one more operation center in Kerala, India.
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Wiki Q&A
Five8 
1-2 years
Is MTFE safe and legit to trade with?
MTFE’s registration with FINTRAC ensures it meets local anti-money laundering standards, but the broker lacks regulation from more recognized authorities, which leaves questions about the security of traders' funds. The lack of a regulatory framework from major bodies such as the FCA or ASIC raises concerns. When you attempt to login to MTFE, you might wonder if this broker is real or fake because the lack of oversight can sometimes be a red flag for potential fraud or misconduct. For me, this lack of regulation is a major concern, as it means there is little protection for traders in the event of disputes or mismanagement of funds. While MTFE might offer certain trading opportunities, it's important to understand that MTFE investment may come with higher risks due to the absence of stringent regulatory safeguards. I would recommend carefully weighing these risks before proceeding with MTFE trading.
Broker Issues
Regulation
08-22
United States
Sergey5
1-2 years
How long does MTFE take for my withdrawal to be credited?
MTFE claims that withdrawal requests are processed quickly and that funds are deposited into your bank account immediately. However, there is no clear information provided about the actual time it takes for withdrawals to be processed. In my experience, brokers that do not specify withdrawal processing times can cause delays, leading to unnecessary frustration. For someone trading frequently or engaging in MTFE trading, fast access to funds is essential. Without a reliable time frame for withdrawals, I would recommend contacting MTFE’s support team to confirm how long it typically takes to process a withdrawal.
Broker Issues
Withdrawal
Deposit
07-02
United States
Solotim
1-2 years
What is the minimum deposit in MTFE?
The minimum deposit required to start trading with MTFE is $100, which is quite affordable for new traders. This low barrier to entry makes it an attractive option for beginners who want to test their strategies without committing large sums of money. However, it’s important to keep in mind that while the deposit is low, the broker’s high spreads can make trading more expensive. Even though the initial deposit is affordable, MTFE investment might not be cost-effective in the long term due to the high spreads, which could erode any initial advantages of the low deposit.
Broker Issues
Withdrawal
Deposit
06-22
United States
Bhavani Durga K
1-2 years
What trading instruments are available on MTFE?
MTFE provides access to a wide variety of financial markets, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety of instruments allows traders to diversify their portfolios and explore different opportunities. However, for me, the lack of a well-known platform like MT4/MT5 makes it harder to confidently trade across such a broad range of assets. Despite the diverse instruments, the quality of execution and the overall trading experience will depend on the functionality of MTFE’s proprietary platform, which lacks some of the features found in more established platforms.
Broker Issues
Platform
Leverage
Instruments
Account
06-15
United States
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User Reviews 28
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BuraQ
Pakistan
Mtfe platform index all fake currency and hand control.. many people loss menoy in Mtfe platform .. loss menoy reason fake currency
Exposure
sudesh
Sri Lanka
My two positions were blown up and when I contacted the coustomer service they never responded. I could save my money suerly.
Exposure
EmranSirajy
Bangladesh
They put me on the street and put all the money in here after borrowing money
Exposure
danch_996
Tanzania
Best Ever Trading Tool I have ever seen 💵😇
Positive
FX9615844052
India
in India too may persons are using its robo trading facility
Neutral
getremo
India
MTFE is collecting huge fund from India, Bangladesh and Africa through 3 Level Commission through its MLM program. It is taking high spread and Commission, so that no one can make profit by manual trading. All clients who have account with MTFE are forced to use their AI Trading which enables them to loot all public funds in a single trade one fine day. All traders be careful
Exposure
Mohammed6630
Jordan
i waited you about a month ago you didn’t respond to me or text back for any news …. the commission getting more and more and i cant do anything to have it …. the broker took my money … and the company stole everything i did …. if you cant help just say that …. publish it please … and lets all the investors see how the company are phony and lieing for the investors to invest in their company…. i want to speak with yours lawyer please let us take down the phony and misleading company… and stop the company of stoling any money from any one
Exposure
Amir_Alqattri
Jordan
Losing more than half of my money during my entry into the company in a month
Exposure
FX1607135367
United Arab Emirates
on 20-2-2023 many clients faced huge loss nearly close to empty wallets by using ai artificial intelligence. but some of them didn't had loss ai strategy must be same then why some of the clients are getting profit and some of them are losing nearly there entire money this is very suspicious please check weather mtfe is legit its software and everything is legit or not or someone else is doing this propaganda against mtfe please check this is becoming very suspicious now
Exposure
Kwazi
South Africa
I put lot off people but I don't get my Commition, still weiting still now what happened please help me
Exposure