Summary:
Even though Metadoro positions itself as a trusted and regulated trading platform, legitimate regulatory authorities and financial experts have raised substantial doubts about the legitimacy of this platform. Metadoro faces risky offshore regulation, reports of abandoned withdrawal requests, and plenty of regulatory warnings. Traders should be careful about trading with Metadoro.
What Is Metadoro?
Metadoro is a noted “Regulated CFD Trading Platform” acting on markets in forex, indices, and commodities. The firm states that it provides investors with security investing options, with new selling technology to protect investors’ funds and inform funding users with transparency, yet a review of regulatory history and trader information shows exactly the opposite to be true.
Reasons to Be Cautious of Metadoro
1. Offshore Regulation
Metadoro is licensed by the Financial Services Commission (FSC) of Mauritius. While this sounds reputable, experts warn that the FSC is not one of the top-tier regulators and does not monitor and protect investors, nor does it have a legal framework like the following regulators:
- U.K. Financial Conduct Authority (FCA)
- U.S. Securities and Exchange Commission (SEC)
- Australian Securities and Investments Commission (ASIC)
2. Lack of Oversight from Trusted Regulators
Almost all third-party review sites are transparent and consistent in their warning about the use of Metadoro for not being listed on any relevant regulatory agency’s list, addressing financial accountability. No legitimate international organizations are supporting their claims, so users will find it nearly impossible to seek legal action against these claims if they have serious issues.
3. Explicit Scam Warnings
Possibly the most shocking sign is that the National Securities and Stock Market Commission of Ukraine has officially listed Metadoro as a scam broker. This list of scammers is reserved for only the scams with significant evidence of either deceptive activity or significant complaints from users.
To add to the evidence, there is also a review on Trustpilot from an actual user stating that Metadoro is a “SCAM”, and that their money was frozen, significant time elapsed since, and that they couldn’t communicate with the customer support you would have expected to have answered your contact.
4. Reports of Withdrawal Issues
Traders have also expressed similar complaints on other forums and review sites. Many users state they cannot withdraw their funds or that a lengthy time has transpired, while still unable to communicate with customer service. This “suspension” of communication from customer service after the deposit of funds is a common pattern for most unregulated or offshore brokers who operate outside established major financial-centered jurisdictions.
Also read GatesFX review.
What Traders Should Consider Before Investing
Before you trade on any online trading platform, please do the following checks:
- Make sure they are regulated by respected regulators (FCA, SEC, ASIC, etc.).
- Look for any public warnings from a government financial regulatory entity.
- Check review sites like Trustpilot and Forex Peace Army for a variety of consumer reviews.
- Avoid promises of unrealistic profits or any complementary high-pressure selling to deposit funds quickly.
FAQs
Is Metadoro regulated?
Metadoro is regulated by the Financial Services Commission (FSC) of Mauritius, but it is not thought of as a strong or trustworthy regulator by global standards.
Can I take out my money from Metadoro?
Many users reviewing the platform say there were serious problems trying to take out money on the platform. Some even say they waited weeks or months to get their funds.
Has any financial authority issued warnings about Metadoro?
Yes, the National Securities and Stock Market Commission (NSSMC) of Ukraine issued a public warning stating that Metadoro.
Should I invest with Metadoro?
Because of the many warnings and negative experiences from customers, traders should not consider depositing money with Metadoro until they are regulated by a trustworthy financial authority.
If you’ve lost money or cannot withdraw funds from Metadoro, you can seek advice and assistance.
Visit TruClaim, a reputable service, to help you recover your money from this scam trading platform safely and effectively.
Check the list of the latest scam brokers here.
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