MobaTrade Review: An In-Depth Look at This Investment Brokerage’s Services

Every month, an increasing number of new websites pop up, offering seemingly incredible trading services. However, it’s imperative to note that only a handful of them operate within legal boundaries. We’ve thoroughly reviewed MobaTrade, a strange investment brokerage, to ensure you’re making the right choice. Read this MobaTrade review to discover everything you need to know about their services.

Is MobaTrade a Regulated and Licensed Broker?

MobaTrade, a trading firm allegedly based in the UK, operates with complete anonymity. It provides only a vague address and no further information on its website. A Google search yields no results for the company, leaving potential clients with limited resources to investigate its operations.

To gain a better understanding of MobaTrade’s legitimacy, we turned to the Financial Conduct Authority (FCA), a Tier 1 licensing provider known for its stringent regulations. The FCA only grants licenses to reputable businesses that meet specific requirements. These requirements include maintaining minimum capital at 730,000 GBP and participating in the compensation fund up to 85,000 GBP per account.

As the trading industry continues to grow, numerous websites are emerging. These websites claim to offer unmatched trading services. However, it’s crucial to note that not all of these sites operate within legal boundaries. In this regard, we conducted a thorough MobaTrade review. The review is about an investment brokerage with some suspicious characteristics. This MobaTrade review contains everything you need to know about their services.

Notably, MobaTrade is openly unregulated and offers services without legal coverage. They claim to be under the authority of the CCA, a fictitious website that makes fraudulent companies seem legitimate. Similarly, the company offers leveraged crypto trading services that the UK authorities strictly prohibit due to their high risks. All in all, MobaTrade is an anonymous trading firm, operating without proper regulation or legal coverage. Given their lack of transparency and high-risk services, we advise against trusting this company.

Our team executed thorough research into MobaTrade’s regulatory status. We found that they do not hold any licenses from the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), or Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). These regulatory bodies are widely recognized for their strict standards and are considered top-tier regulators in the industry.

Exploring Trader’s Opinions on MobaTrade

At the time of writing this review for MobaTrade, there are a total of 120 reviews on TrustPilot. TrustScore, which is estimated on a scale of 1 to 5 stars, has been assigned to the company based on these reviews. 

MobaTrade has received a TrustScore of 3.7, which falls under the ‘average’ classification. The reviews comprise 16% negative (1-star) and 43% positive (5-star) ratings.

Also, it’s crucial that people exercise caution when dealing with firms like MobaTrade, Demaxis, and other similar entities.

MobaTrade Platforms – A Software Comparison

We urge caution if you’re considering investing in MobaTrade. Yet, if you do invest, you’ll be limited to their sole trading platform, WebTrader. The firm tries to convince potential investors that using a web-based platform is the way to go. However, we suspect it’s merely a ploy to gain more clients. This is similar to their tactics around regulation.

Sadly, we weren’t able to test the platform ourselves because it’s impossible to register without a referral code. It’s also impossible to access the platform without an account. This is quite unusual, and legitimate firms with nothing to hide typically allow everyone to see what they have to offer. It’s yet another red flag to consider. 

What Financial Instruments Does The Platform Include?

MobaTrade has a diverse range of asset classes, with five on offer. Here’s a breakdown of what you can expect:

• Currency pairs – EUR/USD, USD/NOK, USD/ZAR
• Commodities – gold, palladium, natural gas
• Indices – NASDAQ, BE20, CAC40
• Shares – Alibaba, Bank of America, Rolex
• Cryptocurrencies – BTC, XRP, USDT

It’s essential to note that cryptocurrency trading with leverage has been illegal in the UK since 2021. Thus, it’s strange to see MobaTrade, an alleged UK-based brokerage that claims to comply with regulations, offering leveraged crypto trading. This is yet another aspect to consider before investing in them.

MobaTrade Countries Of Service

Disturbing news has emerged regarding MobaTrade. Notably, several reports indicate that the brokerage has been scamming traders from various countries worldwide. 

The affected countries include Australia, the United Kingdom, the Netherlands, Sweden, and Singapore. These reports are deeply concerning. They highlight the importance of thoroughly researching a broker before investing any funds.

Account Options Offered by MobaTrade

Let’s take a closer look at MobaTrade’s account types and why they should raise a red flag:

• Bronze – 10,000 EUR
• Silver – 25,000 EUR
• Gold – 50,000 EUR
• Platinum – 100,000 EUR
• Diamond – 250,000 EUR
• Premium – 500,000 EUR
• VIP – 1,000,000 EUR

As you can see, these minimum deposit amounts are incredibly high. It’s difficult to understand why anyone would trust an unregulated broker with such a large sum of money. This is especially true if they lack the ability to access their trading platform.

On top of that, MobaTrade offers an Islamic swap-free account, but this account has higher charges for spreads and other commissions.

Can a Trader Use a Demo Account?

MobaTrade seems to not offer a demo account, which is unfortunate. A demo account allows users to try out the platform and familiarize themselves with the features before investing real money. 

As a result, it’s concerning that MobaTrade doesn’t offer this option. Note that it’s critical to be aware of this when considering whether or not to invest with them.

Terms of Service for MobaTrade

MobaTrade’s lack of transparency is disturbing. They do not provide any clear information regarding their Terms of Service. Traders are left in the dark and unsure of what they’re agreeing to when using the platform. 

This is especially troubling considering the history of deception associated with both MobaTrade and Fullerton Markets, which have operated as unregistered corporations. Traders should be wary of brokers that are not forthcoming with critical information. 

Leverage, Spreads, and Fees

MobaTrade’s fee section lacks transparency. Yes, they mention charging spreads, swaps, withdrawals, and training fees. 

Yet, they fail to disclose the actual costs associated with these fees. The broker claims that all fees are minimal and affordable, but this remains unclear without concrete numbers. Traders should be cautious when dealing with a broker that hides such essential details.

How to Address MobaTrade Issues

If you’ve been a victim of the MobaTrade or Bitky broker scam, don’t worry. We’re here to help. Our team of skilled professionals specializes in handling such scams and will work tirelessly to help you resolve the issue. 

We understand how devastating it can be to fall prey to these fraudulent schemes. However, you don’t have to face it alone. Please reach out to us as soon as possible, and let us help you recover your money.