MHMarkets describes itself as a leading global Forex and CFD broker, primarily offering trading services for Forex, precious metals, energy, indices products, and digital currencies. We provide top-notch products and services to meet the needs of the most sophisticated retail and institutional clients worldwide.
Recently, Brother Truth noticed MHMarkets, a brokerage that only had a 2.80 rating in an expose article last July. Now, MHMarkets' score on the Forex regulatory platform has risen to a high 6.96!!!
This has piqued Brother Truth's curiosity, and today we will take another look to see if the platform actually deserves this score?!
Through MHMarkets' web introduction, it is noted that MHMarkets has companies in Australia, Dubai, the UK, and Saint Vincent.
In MHMarkets' official website introduction, it claims to be authorized by four regulatory bodies, without mentioning its Saint Vincent company.
However, Brother Truth noticed that the trading platform's software footer information mentions Mohicans Markets Limited, a Saint Vincent company.
Upon further verification, Brother Truth discovered that MHMarkets uses not only Mohicans Markets Limited from Saint Vincent for trading but also another company named Mohd Azim General Trading LLC, which is also based in Saint Vincent, and curiously, both companies share the same address.
Before this, last July, Brother Truth's good friend Poison Tongue conducted an investigation on MHMarkets. Comparing the information from Poison Tongue's investigation with the current official website, there is a significant discrepancy!!!
First, let's see what's different about MHMarkets' official website information before and after? Those interested in Forex can also revisit Poison Tongue's article~
Stop making deposits! MHMarkets, is frantically amassing wealth and preparing to flee! The licensed companies have been cancelled!!
(MT4 before and after information comparison chart)
(MT5 before and after information comparison chart)
Changing the MT5 trading company, shouldn't an official notice be posted on the website to inform customers?!
Additionally, MHMarkets' platform claims to be authorized by the Vanuatu Financial Services Commission (VFSC) to engage in remittance business, payment industry, Forex trading, commodities, securities trading, financial advisory, etc., which is entirely unfounded!!
Because no regulatory information for its company can be found on the VFSC official website.
Moeyeli has its internal legislation for control and management of the offshore financial services sector, and information found on the Moeyeli International Services Authority (MISA) indicates that MHMarkets' company name in Moeyeli is also Mohicans Markets Limited,
matching the name of the MT4/5 trading company.
This could potentially mislead and confuse, causing uncertainties about whether the trading company being used is legitimate or not!! Be cautious about this!!
Another point Brother Truth wants to highlight, Moeyeli International Services Authority (MISA) only regulates leveraged Forex trading.
Having read so many of Brother Truth's articles, there should be little need for me to elaborate further on MHMarkets' companies in Australia and Canada~
First, the Australian Securities and Investments Commission (ASIC) no longer accepts clients from mainland China, due to regulatory reasons. Those still using ASIC regulation to promote to Chinese clients are directly considered to be engaging in false advertising and defrauding investors.
Secondly, the Canadian MSB does not regulate Forex margin trading at all, with Canadian regulation only recognizing IIROC.
Lastly, in January of this year, MHMarkets' official website launched two promotions: one is the 2024 40% trading bonus promotion, and the other is about Islamic account policies (only applicable to Muslim residents, and only supports MT5 accounts. New trading accounts must provide religious proof).
Brother Truth wants to say that MHMarkets' platform presents numerous unreliable factors. Brother Truth urges all investors to think carefully before acting, considering that MHMarkets is currently using unregulated Saint Vincent companies for trading, participating in its platform activities may end up losing everything!!!
