MilleniumOne Review – Who’s Behind the MilleniumOne.com Scam?
If you check the table above, you’ll see that we know virtually nothing about MilleniumOne broker. The firm hasn’t shared anything more than a shell corporation registered in Saint Vincent and the Grenadines. We lack details about the initial deposit, which is quite a concern.
All in all, our detailed MilleniumOne review should highlight everything we know and why we suspect the firm to be a scam.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Fiesta LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||Forex, commodities, indices, shares|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
MilleniumOne is Scamming Traders?
MilleniumOne is said to be owned by Fiesta LLC, registered in December 2021 in Saint Vincent and the Grenadines. Since the firm shares address with hundreds of scheme firms and is incorporated by the same third-party affiliate, we can see the pattern.
Additionally, the FSA of SVG issued a series of warnings, the latest being from February this year, to remind us of one fact. They do not provide licenses to Forex, CFD, or binary options firms. All such companies need to obtain a license in the country of service.
We found nothing after checking Tier1 databases of the FCA, ASIC, BaFin, and more.
What Do Traders Think Of MilleniumOne?
Truth to be said, MilleniumOne has quite a lot of negative reviews. According to those, customers are unable to withdraw their funds.
Instead of approving requests, MilleniumOne employees are doing everything to dissuade unsuspecting victims. If someone’s too persistent, their trading accounts are blocked, and access to money is denied.
What Platforms Does MilleniumOne Offer? – Available Trade Software
The company offers a decent-looking WebTrader. It has somewhat advanced functions, pending orders, Stop Loss, and Take Profit. Instead of a plain TradingView chart, clients can actually apply some strategies and gain profits.
Note that all this is worth nothing with offshore scam brokers like MilleniumOne here.
MilleniumOne’s Mobile for Android
MilleniumOne has a dedicated mobile app for Android devices. It’s based on WebTrader and has fairly enough functions. However, the issue remains as the firm is unregulated and offers unregulated trading conditions.
MilleniumOne Accounts Overview
There are 3 different account types on offer:
- Standard – floating spread, leverage 1:30
- Premium – floating spread, higher leverage on demand
- VIP – fixed spread 1.4 pips, higher leverage on demand
While we know virtually nothing about these account types except for the minimum leverage, clients ask how much they need to deposit. The answer is – you’ll need to wait for an evaluation by the broker’s employees.
The broker offers a Demo account as a lure for inexperienced traders. Upon registering an account, you’ll be allowed to practice trades and almost certainly gain profit. This should make you comfortable enough to invest in real funds. And once you do, you’ll be dragged into the scheme quite quickly.
MilleniumOne Broker – Countries Of Service
According to our research, MilleniumOne mainly operates in:
Trading Bonuses Fraud
Bonuses and other incentives have been banned by most major regulators due to their nature. Namely, scheme firms were exploiting them by adding hidden clauses in the Terms and Conditions, requiring customers to reach impossible rollovers before withdrawals.
According to the Client Agreement given by MilleniumOne, this firm offers bonuses. Still, it states that it cannot be held liable in case of monetary losses due to margin level or any other circumstances. Additionally, no rollover has been specified, meaning that it’s left for the broker’s employees to come up with any amount.
Security Methods Provided by MilleniumOne
The company claims to offer negative balance protection and keeps clients’ funds in segregated accounts. This should be the default and not something to brag about.
Allegedly, if you lose your money, negative balance protection will save you from falling into debt towards the brokerage.
As per segregated accounts, it’s stated that your funds are held in “accounts at regulated banks.” Without further specifications, this sounds like another fairytale to lure you into depositing.
MilleniumOne Range of Trading Markets
Customers can trade in the following markets:
- Forex – EUR/USD, GBP/AUD, CAD/JPY
- Indices – NASDAQ, FTSE100, IBEX35
- Shares – Nvidia, Google, Microsoft
- Commodities – gold, silver, natural gas
Cryptocurrencies are not on offer.
What Is Known About MilleniumOne’s Trading Conditions?
The right question is what we don’t know. And the answer is everything. The VIP account has a fixed spread of 1.4 pips, while the other two have unknown floating. This firm hasn’t specified the swaps, leverage, or anything else.
The leverage for the Standard account is set to 1:30, but it can increase on demand for the other two. However, it’s not specified to which number.
MilleniumOne Minimum Deposit and Unfavorable Withdrawal Terms
Welcome to the other section of “we don’t know.” The broker hasn’t specified the minimum deposit or any available payment methods. It was left to their employees to assess and provide information during a mandatory phone call.
If you have made a withdrawal without trading or have not performed any activity between the previous deposit and a withdrawal request, the broker reserves the right to:
- Charge the amount equivalent to any deposit fees or
- 3% of the total withdrawal amount
Additionally, there’s a charge of 5 EUR/USD per month for accounts inactive over six months.
Scammed by MilleniumOne Broker? – Let Us Hear Your Story
If you were scammed by MilleniumOne or any other fraudulent firm, let us know. Online trading carries lots of risks, and we’re here to protect your rights.
Book a free consultation with our specialists and we will evaluate your case promptly. Don’t let fraudsters walk away. Start the chargeback process today!
But What Is A Chargeback?
This is a way for your bank to recover funds from the merchant. It applies only to debit/credit card deposits that occurred within the last 540 days. That’s why don’t hesitate. Contact us now!
What Is MilleniumOne?
MilleniumOne is an offshore trading brokerage without any valid financial license.
Is MilleniumOne a Scam Broker?
MilleniumOne offers Forex and CFD trading without any regulations.
Is MilleniumOne Available in the United States or the UK?
The broker operates in both countries without any license, serving from offshore.
Does MilleniumOne Offer a Demo Account?
Yes, MilleniumOne does offer a Demo account as a lure for inexperienced traders.