MarketLTD is one of the companies that popped up in 2021 and will probably soon be shut down. Since the brokerage itself is illegal and there’s already a regulatory warning against it, we’re expecting it to follow the pattern of similar investment firms. However, while they’re still here, read our MarketLTD review and collect the information.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||BaFin|
|Owned by:||Propinquity Group LTD|
|Headquarters Country:||Commonwealth of Dominica|
|Supported Platforms:||Web trader, MT5|
|Types of Assets:||FX, commodities, stocks|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About MarketLTD Regulation?
MarketLTD is owned by Propinquity Group LTD from the Commonwealth of Dominica. The company is registered with the Dominican FSU, but there’s an issue with it. This regulator doesn’t oblige companies to form compensation funds to reimburse clients in case of scams. This license is more-less fictive; the only thing a broker needs to do is to pay a fee of a few thousand dollars.
Don’t trust such firms and always look for Tier1 regulated brokers holding licenses from the FCA or ASIC, for example. They must form substantial funds of above 700,000 EUR, and this money is to be used in case of fraud.
MarketLTD Warnings From Financial Regulators
During the year, German BaFin has received numerous MarketLTD complaints and decided to publish an official warning, asking the company to stop providing financial services in Germany as it has no authorization. We are positive that many more warnings will come since MarketLTD operates illegally everywhere.
Fund Withdrawal Issues With MarketLTD Broker
Knowing that MarketLTD is an offshore fraud, we were not surprised to learn about withdrawal issues. Many clients filed complaints as they could not access their trading accounts after submitting withdrawal requests. It seems that this broker has a scheme – once you decide it’s enough investing and it’s time for the payout, your account will be frozen, and you won’t be able to get a penny back or even see your account anymore. Be aware of the MarketLTD trading scam and report any irregularities immediately.
Areas Of MarketLTD Trading Scam
The broker is mainly present in Germany, Italy, Portugal, and Paraguay, according to reviews. It tells us that the main focus is the EU and Latin American countries. Again, we need to reiterate that you have no compensation funds and no guarantee of withdrawals. Don’t let yourself become another MarketLTD scam victim.
Traders About MarketLTD Scam
After being scammed, there’s not much that traders can say. They’re massively reporting withdrawal problems but also issues with account managers, trading platforms and more. Once you want to invest the money, support will be immense. Everything will change once you ask for a withdrawal. You may even be prompted to pay additional taxes and fees but will still not see a penny back.
How Does Online Trading Scam Work?
Being a victim of an online trading scam implies that the fraudulent trading firm stole your money, and you have no way to get it back through the brokerage. Everything starts with an ad overpromising the money. Once you accept the offer and involve yourself in the trading business, you will be asked for more and more money under different excuses. When it’s time to get your money back, you’ll understand that you have been scammed and won’t be able to submit a withdrawal request since your account will most likely be frozen.
Scammed by MarketLTD? – Tell Us Your Story
If you were scammed by MarketLTD or a similar bogus broker, let us know. Our chargeback specialists will gladly assist you in filing a dispute and retrieving your money.
But What Is A Chargeback?
A chargeback is a way for your bank to reverse fraudulent transactions and get your money back. Don’t let scammers run away, take steps and get a refund now. Contact us via online chat to book a free consultation for further details.
What Is MarketLTD?
MarketLTD is an online Forex and CFD trading provider based offshore.
Is MarketLTD A Scam Broker?
MarketLTD is a fraudulent trading firm blacklisted in Germany.
Is MarketLTD Regulated?
MarketLTD has no Tier1 regulations and provides financial services illegally.