MainTrade Review – 7 Things To Worry About Scam
MainTrade Review – 7 Things To Worry About Scam

A very important aspect of trading is clarity. Information given to the clients should be precise and correct. It’s not something we could see while exploring MainTrade trading platform.

This company presents itself as a UK based company. The address provided on the website is real, but what you can find on that address is questionable.

UK trading companies need to have regulations. Regulation is not covering cryptocurrency trading or giving bonuses to clients. Since MainTrade broker is offering the services mentioned above, you can get the conclusion. And we’ll give more details in our MainTrade review.

Also, avoid the trading frauds SpotInvest, BitTrust, and FinuTrade at all costs! Moreover, before investing, always look into the past of internet trading firms!

Broker status:Unregulated Broker
Regulated by:Unlicensed Scam Brokerage
Blacklisted as a Scam by:BaFin
Owned by:N/A
Headquarters Country:United Kingdom
Foundation year:2022
Supported Platforms:Web-based trading platform
Minimum Deposit:250 USD
Cryptocurrencies:Yes – BTC, BCH, ETH
Types of Assets:Forex, Commodities, Cryptocurrencies, Indices, Stocks
Maximum Leverage:1:500
Free Demo Account:Yes
Accepts US clients:No

How Safe Is It To Start Investing and Trading at MainTrade?

Giving your money into MainTrade company hands is like giving it to a stranger on a street. Of course, you hope for the best but the reality is different. First, they are not offering any security for their clients. The company doesn’t have any regulations or licenses.

That is a crucial part of deciding where to trade. A lack of information is already a bad sign. Second, company ownership information is missing and the regulatory database is empty when you look for MainTrade broker.

Why It Is Better Not to Choose An Unlicensed Broker

It is important to understand the downsides of the non-licensed broker. There is simply no guarantee for clients that they will be protected in any case. Whether it’s a market crash or company bankruptcy, you don’t have any protection from an unlicensed broker.

Nobody controls their operations and they can make up a bad market scenario that you don’t even notice. In the blink of an eye, money is gone.

​​Is MainTrade a Legit Broker or a Scam?

A conclusion is that most information is misleading. MainTrade doesn’t have a registration number in the UK. There is no license available. The trading platform is sketchy as well.

Warning From Financial Regulators

Through the MainTrade review of a company, we found a warning from BaFin. They don’t have any authorization to provide any financial services in the UK or abroad.�

MainTrade Warning From Bafin

They are scamming traders from Canada, the UK, Germany, Belgium and probably many more.

MainTrade Software – Platform Tools

All scamming platforms look similar. If we exclude ones who are licensed, you can already find patterns and recognize fraudsters.

MainTrade doesn’t offer any spectacular platform, just web-based which looks shady at first glance. Very basic tools for trading, without any eye-catching improvement, compared to the others.�

CFD WebTrader

CFDs are usually a good option for traders. They are very easy to understand. What’s more important is if the platform is reliable. These web-based platforms are often fictitious.

Therefore, you should be extremely careful with handing your money over. That’s why we always recommend trading with companies that are using more trusted platforms, such as MT4 and MT5.

MainTrade Awards – Company Achievements

The company website exists for less than 1 year and it would be very hard to create any reliable credibility. Especially since the company states that they are looking for long-lasting and transparent relations.

Those statements are false, so the only achievement we could identify is a warning from BaFin.

MainTrade Range Investment Opportunities – Trading Instruments

MainTrade trading provides clients with access to more than 600 assets from 6 classes.

  • Forex – CAD/NZD, USD/JPY, EUR/ CHF
  • Commodities – Gold, Platinum, Copper
  • Indices – DAX30 , FTSE100, CAC40
  • Stocks –�Tesla, Microsoft, Alibaba
  • Cryptocurrencies – BTC, XRP, ADA

Where Does MainTrade Engage In Fraud? – Countries Of Service

Researching for our MainTrade review we found that they operate in the following countries:

  • UK
  • Canada
  • Germany
  • Belgium

Furthermore, we highly recommend that you avoid the scam brokers GateBits, Central Margins, and Motion Markets.

What Are The Different MainTrade Account Types?

MainTrade Account Types

The company offers 4 different account types:

  • Standard – 250 USD minimum
  • Silver – 2.500 USD minimum�
  • Gold – 10.000 USD minimum
  • VIP – 50.000 USD minimum� � � �

�The initial deposit is $250, while legitimate companies offer Micro accounts for as low as $10.

Bonuses And a Fraudulent Scheme

For Standard and Silver trading account company gives a 30% bonus. On higher accounts like Gold and VIP, it is a 100% bonus. This is not allowed according to regulations.

This is a simple trick that scamming companies are doing to make you put in more money. If it’s not on the initial deposit, be careful when they present you same offer later.

How Much Is Leverage, Spreads and Fees?

According to the website, the offered leverage is up to 1:500 on some account types. That brings you higher risks and a higher potential for loss.

Spreads are at least 0.8 pips for higher accounts and 1.5 pips for lower accounts. That doesn’t exclude that on some assets pips are way higher.

Furthermore, some additional fees may be added. Some are the inactivity fee ( 50$ ) and the annual administration fee ( 100$ ).

Minimum Deposit and How Do I Withdraw?

The minimum requirement is 250 USD. Credit/Debit cards, wire transfers and cryptocurrency transfers are accepted. Same stands for withdrawals.

Withdrawal requests can be done from the client’s side directly on the platform. The problematic part is that the company needs to confirm your withdrawal request.

Scammed by MainTrade Broker? – Allow Us to Hear Your Story.

Please tell us about your experience. To understand where to start, we need to analyze the problem first. If this broker stole money from you feel free to contact us.

Get in touch today!

What Is MainTrade?

MainTrade is a broker operating allegedly from the UK in financial services without a license.

Is MainTrade a Scam Broker?

Yes. An in-depth analysis has shown that there is no license or ownership information available. Confirmation of that is a warning for BaFin regulatory body.

Is MainTrade Available in the United States or the UK?

MainTrade offers services to the UK and other world countries like Canada and Germany, but not the US.

Does MainTrade Offer a Demo Account?

Yes. With the company, you can try trading in real-time with virtual funds on Demo Account.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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