Review of MountainWolf – 5 warning signs it’s a cryptocurrency trading scam
The company is operating from Kazakhstan according to FMA ( Austria ). They are offering crypto investment services to their clients. Going through the register of NBK (Kazakhstan), their main regulatory body, we found no records of MountainWolf broker.
|Regulated by:||No regulation|
|Blacklisted as a Scam by:||FMA, CONSOB, CNMV|
|Cryptocurrencies:||Yes – BTC, ETH, LTC|
|Types of Assets:||Cryptocurrencies|
|Free Demo Account:||No.|
|Accepts US clients:||Yes.|
This MountainWolf review will present you with the main disadvantages of investing with non-regulated companies like these.
MountainWolf – Is This a Trustworthy Investment Company?
On the company website, you don’t have any information provided about security. They provided only an option to create an account and basic information about investing in cryptocurrencies overall.
There is no contact or ownership information available. That’s exactly the biggest downside of non-regulated companies.
MountainWolf doesn’t provide any ownership information and it’s completely unregulated. Not even by the country’s regulatory body. Terms and conditions are a mystery, therefore it’s a big NO for this company.
Arguments For Trading With a Licensed Broker
Licensed brokers are providing clients with transparency. Anything in terms of trading information is provided before you invested any money. So, you can take a closer look and see what the company offers.
MountainWolf trading doesn’t have any licenses. Not to mention Tier 1 like FCA, BaFin or ASIC.
These are the most trusted ones and you should be always looking for companies that have one of those mentioned. We didn’t believe we would find anything. Anyway, we checked their register.
As expected, there are no records of MountainWolf broker.
Information On Any Warnings Issued by Financial Regulators Regarding MountainWolf
Once we checked their website, we were sure of one thing. That there will be a lot of warnings and red flags against MountainWolf broker. As expected, there are numerous Regulators issuing warnings :
- FMA ( Austria )
- CONSOB ( Italy )
- CNMV ( Spain )
We could see that they are scamming people from Germany, the US, Switzerland, Austria and Italy.
Login To the Account Using a Referral Code
The point is that you bring as many people as you can to this. Often clients who just came or the ones who recommended get some benefits out of it. Sounds like a Ponzi scheme. The company that is doing a job legitimately will not ask you to bring people.
That’s completely logical if something is working. Be careful with these cheesy tactics.
Analysis of Customer Reviews Related to MountainWolf
Through MountainWolf reviews we found that people are often complaining about withdrawals. There are only on TrustPilot around 26 comments and around 15% were with a negative experience.
We believe that good comments are fake, the same as the website. People were unable to withdraw their money. But when they tried to reach out to the company, it was like talking to an AI machine.
Which Platforms Are Offered by MountainWolf? – Trading Applications
This part was very interesting. The company doesn’t offer access to any trading platform. Looks like the company is using external crypto wallets, but they present themselves as a trusted crypto investment company.
If you are going to use an external wallet, you don’t need a MountainWolf broker. Just be aware of the fact that cryptocurrency transactions are very hardly traceable.
What Financial Instruments Does The Platform Include?
The company offers only cryptocurrency investments. Some of them are against FIAT currencies. Available assets are the most known ones like:
- Cardano and more
These assets are very volatile and in trading could be risky. Therefore we suggest you go with regulated companies to minimize the risk of losing money.
MountainWolf Fraud Risk Zones – Service Countries
According to the research company is trying to reach clients from rich countries like:
People in these countries love rules. That’s why countries like these are so economically developed. Therefore, we expect people to be careful with this non-regulated company.
Different Types of MountainWolf Brokerage Accounts
It is not confirmed, but the company advert states they offer 3 account types:
Basic investment conditions are unknown, except for the fees. Higher you go on the scale, the lower fees you should have. Since the company doesn’t have any license, all this information is speculative.
MountainWolf Access to a Free Demo Account
So, as expected, the company doesn’t have a Demo Account. Since they don’t provide any platform for trading, we really didn’t have any hopes here. Demo accounts are only useful to check what software the company is using.
We would always suggest people try micro accounts with a licensed company. Rather than a demo with a non-licensed one.
MountainWolf Terms and Conditions
MountainWolf is a master of hiding information. They don’t provide any trading details. They don’t actually provide clients with conditions about fees, withdrawals or commissions.
Even if you want to make a deposit, necessary information is missing. A huge red flag for MountainWolf broker.
Spreads & Commission
Since the company doesn’t have its platform we don’t have information about spreads. They trade on external wallets and conditions only depend on that other company.
The commission is unknown with MountainWolf. As people mentioned in MountainWolf Reviews, the company fails to process withdrawals. Often there are some unexpected fees, made up of course.
MountainWolf Broker Scammed You? – Please Tell Us Your Story
Don’t feel embarrassed if you were scammed by this company. It could happen to anyone. It is just important that you share your insight. That way you can help other people to be scammed as well.
If you don’t know what to do in situations like these, let us know. You can book a free consultation today!
What Is the Chargeback Procedure?
A good solution for situations where you have used a Credit/Debit card is a chargeback. It’s not rare that people get scammed. But banks are not lunatics. They know what is happening and you can file for this transaction to be reversed.
Our experts can guide you in your first steps. Contact us now!
What Is MountainWolf?
It’s a non-regulated cryptocurrency broker offering financial services to clients
Is MountainWolf a Scam Broker?
Since they don’t have any licenses, we can say yes. Other people’s
opinions would confirm that statement.
Is MountainWolf Available in the United States or the UK?
It is available only in the US, but not in the UK. Looks like they are reaching German language areas.
Does MountainWolf Offer a Demo Account?
No. The company doesn’t even offer properly real investment accounts.