Is 72FXOptMetaTrade Legit or Scam?
72FXOptMetaTrade is a scam broker and should be avoided at all costs. While they promise high returns and expertise in trading various assets, they engage in deceptive practices and do not carry out any actual trading activities. This article exposes their fraudulent schemes and highlights the importance of choosing licensed and reputable brokers.
Company Overview
Feature | Details |
Company Name | 72FXOptMetaTrade |
Website | |
Products/Services | Investment plans promising high returns in forex, crypto, CFDs, etc. |
Regulation | Unlicensed |
Services or Products
72FXOptMetaTrade offers three investment plans: Basic, Standard, and Premium. Each plan promises progressively higher returns in exchange for larger deposits. However, these plans are simply a facade to lure investors into depositing money, which is likely never used for actual trading.
If you have lost money to companies like HeroFX, or AiFX Markets please report it to us on our report a scam form.
Trading Platform & Leverages
Despite having “MetaTrade” in its name, 72FXOptMetaTrade doesn’t use the industry-standard MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. This is a major red flag, as legitimate brokers rely on these established platforms to provide transparency and security for their clients. Additionally, information regarding leverage offered by 72FXOptMetaTrade is unavailable, making it impossible to assess the associated risks.
Spreads and Cost of Trading
72FXOptMetaTrade does not disclose any information about spreads or other trading costs. This lack of transparency is another clear sign of a scam broker, as legitimate brokers openly communicate their fees and charges.
License and Regulations
72FXOptMetaTrade is not licensed or regulated by any recognized financial authority. This means they are not subject to any oversight or accountability, and investors have no legal recourse if they are scammed.
Legal Warning Against 72FXOptMetaTrade
Investing with an unlicensed broker like 72FXOptMetaTrade is illegal in many jurisdictions. Furthermore, any profits generated through such platforms are likely to be considered illegal gains and could be subject to confiscation.
Deposit and Withdrawal Methods
72FXOptMetaTrade’s deposit and withdrawal methods are unclear. However, given their fraudulent nature, it is highly likely that they make depositing funds easy but significantly hinder or completely prevent withdrawals.
72FXOptMetaTrade Pros and Cons
Pros | Cons |
None | Unlicensed and unregulated |
| Â | False promises of high returns |
| Â | No actual trading activity |
| Â | Fake platform, not using MT4/MT5 |
| Â | Poor website design |
| Â | Deceptive marketing tactics |
Why Dealing With An Unlicensed Broker Is Risky
Dealing with an unlicensed broker like 72FXOptMetaTrade carries numerous risks, including:
- Loss of funds: Unlicensed brokers can easily disappear with your deposited funds, leaving you with no recourse.
- No legal protection: Without regulatory oversight, there are no legal mechanisms to recover your losses if you are scammed.
- Manipulation: Unlicensed brokers can manipulate prices and trading conditions in their favor, ensuring you lose money.
- Exposure to fraud: Unlicensed brokers are more likely to engage in fraudulent activities, such as identity theft or market manipulation.
Client Feedback
There are numerous negative online reviews about 72FXOptMetaTrade, with clients reporting difficulties withdrawing their funds and experiencing fraudulent activities.
How Can “ReviewsAdvice” Help You If You Get Scammed?
Unfortunately, “ReviewsAdvice” cannot directly help you recover lost funds from a scam broker. However, we can provide resources and information to help you report the scam to relevant authorities and raise awareness to prevent others from falling victim. Also, we can provide you with some recovery service recommendations to help you in recovering the lost funds. If your case needs legal help, you can get it too, or you can report to us today by the below form.
Get Your Money Back from Scammers.
Final Thought
72FXOptMetaTrade is a clear example of a fraudulent brokerage platform. By understanding the red flags and the importance of choosing licensed and regulated brokers, you can protect yourself from falling victim to similar scams. Always research a broker thoroughly before investing your hard-earned money and prioritize platforms with a proven track record and regulatory oversight.
