ManuFx is an unregulated broker posing as a well recognized broker with numerous awards. They claim to provide volatility optimized trading platform as well as other benefits. Read this Mafxnu.com review before deciding to trade with them.
Forex trading has gained popularity and as a result, there have been a rise in online scams. Therefore, we have made it our responsibility to review investment platforms, forex brokers, expert advisors(EA) and many others, letting you know the ones that are legit as well as unreliable brokers in order to make sure your finances are secure. This review gives you vital information about this broker.
This broker says that they are a subsidiary of ManuFx PLC. The company is said to be registered in Bahamas and United Kingdom (England and Wales). They fail to mention the account types they offer as well as other vital information about their services.
Why you should avoid ManuFx .
We found the following disturbing information about Mafxnu.com after going through the website.
Mafxnu.com licensing and regulation.
An important aspect of our review is to find out whether or not a broker holds a license from any of the recognized forex regulatory authorities. First, look at the region or location where the company or broker claims to be based, then we check the commission or authority regulating trade there to know whether that company has been listed among their regulated companies or not. For instance, FCA is the regulatory body overseeing the operations of forex brokers located in the UK while Australian forex brokers should be regulated by ASIC.
ManuFx claims that they are regulated by the Securities Commission of the Bahamas as well as the Financial Conduct Authority in the United Kingdom. Unfortunately, this broker is operating without a license from any of these regulatory bodies. They go against the rules set by forex regulators. Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, ASIC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is enough reason to show that this broker is unreliable and you should stay away from this broker.
ManuFx deposit and withdrawal method.
Mafxnu.com says nothing about the minimum deposit they accept, how long it takes to process withdrawals or even payment methods available. This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money. There is also no legal document on their website. This is a clear sign that you should stay away from this broker.
ManuFx trading platform
Sadly, this broker does not offer the popular Metatrader platform. Rather, they provide a suspicious trading platform that cannot be accessed. one of the things you should look out for in broker’s website before deciding to trade with them is the use of the Metratader platform. This is because Metatrader 4 and 5 are user friendly have become the generally accepted trading platforms used by legit brokers.
There is also no information on the leverage they offer. So far, you can see that there is no reason for you to trust this broker. Omitting vital information about their services is enough proof that ManuFx is not what they claim to be.
Conclusion: Is ManuFx worth your money?
No. Mafxnu.com is not a reliable broker. They lack transparency. Moreover, they are not regulated by any of the recognized regulatory authority. Therefore, we do not recommend this broker. We advise you to only invest with licensed brokers to avoid regrets.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry. They offer trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Most importantly, the Financial Conduct Authority(CFA) in the UK as well as ASIC in Australia are the regulators of Fortrade. This makes makes client funds safe. They accept traders worldwide..visit their official website