Mentor FX (Mentorfx.com) is claiming to offer Cryptocurrencies, Forex, Indices and Shares. MentorFX is claiming to be a web trading platform tailored for beginners or newbie traders. Some of the notable claims on their homepage include exclusive bonuses and leverage of 1:500. They claim funds are secured with negative balance protection which is far from the truth. To know more about them, read this genuine and honest MENTOR FX Review.
Mentor FX Review
The platform is a complete hoax and is using information from other trading websites. Mentor FX is deliberately fooling investors by using a cloned website. These scam artists will do or say anything to try and make their platforms appear legit. With concrete evidence on our hands, we plan to expose their dirty tricks in this detailed review. The online trading industry must be free from scams and it is our duty to expose them. You better trade with tested and trusted Cryptocurrency trading robots for safe digital currency trading.
Once you visit their homepage, you will realize that the platform has an appealing look. The look is what these scam artists are after as it will easily sell. Their website looks legit to the naked eye, thanks to our expertise; we know this is a scam. We have been in the industry for long to take note of some of the tricks used by scam artists. Mentor FX is no different as they are using same old tactics used by online fraudsters. Stay away from it and use Genuine and trusted brokers with integrity.
About Mentor FX
Mentor CORP is the company claiming to offer this trading platform. According to their about us page, they claim the platform is registered in Seychelles. And this is one of the first red flags as they already prove to be offshore brokers. Offshore brokers are a hard nut to crack and are far from being trustworthy. Most offshore brokers operate without a trading license and thus, never insure deposits made. Your funds are far from being secure with an offshore broker based in Seychelles.
Anonymity is another huge problem Mentor FX is posing. No one knows who the CEO or CFO of Mentor CORP is. They claim to provide over 2000 instruments and yet, no one seems to know them. With online investing and trading, it is wise to stay away from anonymous platforms. The platform is not fully complying with set industry regulations and rules. We don’t know who the founding members of this platform. It would help if we had their social media handles to get further information.
Features of Mentor FX
Mentor FX is claiming to offer access to world major markets and an account manager to guide you. Commodities to trade include gold, natural gas and oil. Cryptocurrencies listed include Bitcoin, Etherium, Monero, and Ripple. Forex assets listed include EUR/USD, USD/JPY, and AUD/USD. The stocks you get are from leading companies such as Amazon, Apple, Google, and Facebook. When it comes to stocks, they mainly deal with technology giants such as Tesla.
The platform is offering three account types for traders to choose from. Mentor FX is furnishing traders with accounts with no names. What we do know is the accounts come with different features. They include advanced charts, range of markets, and professional managers. These claims are just features meant to lure unsuspecting investors. Why would they fail to name their account types? It is to throw off investors when withdrawal problems start popping up after sometime.
Mentor FX is professing to offer account managers which is far from the truth. These account managers have no experience in trading. We have shocking evidence that these account managers are hired call agents. All they do is call you and demand you deposit more funds to get a higher chance of winning. Members have been bombarded by calls from these agents which border harassment. One member claimed to have received over 5 calls a day after they made their initial deposit.
Contact and Customer Support
When you want to contact the support team, you have to give them your phone number. These scam artists prefer social media platforms such as messenger and Whatsapp. It gives them the chance to break away when they steal from investors. Once they contact you with their number, they immediately block all contact. Email listed is of no help as response comes late. These scam artists don’t want any meaningful interaction with clients. They just want to insist on more deposits.
When it comes to depositing, Mentor FX is making sure no one faces any deposit problems. They offer available depository channels for traders all over the world. Some of the depository options include Credit/debit cards and wire transfer. The main problem with MentorFX is lack of withdrawal which has pushed members into victims. No member has come out with evidence of ever withdrawing funds with this platform.
Disadvantages of Mentor FX
License and registration certificates
The entire website has no proof of a license or registration number. To try and get full details, we reached out to several regulatory bodies. The first body we reached out to was FSA which has no platform registered under this name. It means they are using false information to mislead investors. Such practice is tantamount to fraud and is the least of your worries. Without a valid trading license, it means deposits are not insured as dictated by trading regulations and rules.
Web based trading platform
Mentor FX is using a web based trading platform with no security features in store. The problem with web platforms is that they tend to be unstable. MentorFX is using a custom-made web platform which has not gone through rigorous testing. The platform does not have important security features such as DDoS and SSL encryption. Third party attacks can lead to members losing their credit card information. Hackers prey on such platforms and steal personal information.
Safety of funds with Mentor FX
When it comes to how safe the platform is, your guess is as good as ours. No way is funds safe with a platform which does not secure their website. You can easily see that their website lacks the basic security features. Segregation of accounts is also a huge issue as Mentor FX is pooling funds in one account. Members are actually depositing funds straight to owner’s personal bank account. You better stay away from it or else risk losing your entire deposit. Plus, with your credit card details, they might swipe clean your bank account.
Scam or legit
Evidence is clearly pointing to the fact that Mentor FX is a huge online scam. You better stay away from it or else risk losing your entire deposit. Another valid reason to stay away is the high number of victims popping up. It seems the platform has been stealing from users for a long time. Such platforms need to be exposed to help keep the online trading safe.
We have to add this platform to our scam blacklist to protect our readers. Stay away from their emails and mark them as spam. Calls from their call agents should be ignored. Block all contact and never join any of their affiliate programs. Whatever you do, never give them your personal details such as credit card number and personal information. They will use it against you and steal from you.