Madden Markets Limited is a broker that offers trading services in forex, metals, energy, and agricultural products for investors. The official website of Madden is https://www.madsfx.com/, and it supports Simplified Chinese, Traditional Chinese, and English as languages. According to the Whois search for the website's domain registration, the company's official domain was registered on June 17, 2022, and it has been more than a year since the registration.
Company Background:
Madden Markets Limited's official website does not provide any company registration information for investors to verify. Additionally, the Whois search for the website's domain registration confirms that the official domain was registered on June 17, 2022.
Account Registration:
Madden Markets Limited's official website indicates that the company provides a registration link for real accounts. To register a real account, users can click on "Sign up now" at the top of the website or "Join a member" in the upper right corner to access the account registration page. Users need to select or fill in information such as trading name, email, phone number, country, address, password, and ID card details to complete the real account registration. Moreover, the real account registration page on Madden Markets Limited supports multiple languages, including Simplified Chinese, Traditional Chinese, English, Spanish, Japanese, Vietnamese, etc. However, the Madden Markets Limited website does not provide a registration link for demo accounts.
Account Types:
Madden Markets Limited's official website does not provide information about trading account types.
Trading Products:
Madden Markets Limited's official website indicates that the company offers trading services in forex, metals, energy, and agricultural products. However, the website only provides an introduction to some gold and forex products, without specific information on the trading products, spreads, commissions, margin ratios, and other key details.
Margin Ratios:
Madden Markets Limited only displays a 1:500 leverage ratio on the homepage and does not provide information on the margin ratios for specific trading products in forex, metals, energy, and agricultural products.
Trading Hours:
Madden Markets Limited provides trading hours for the European and American financial markets on the "Trading Rules" page in Simplified Chinese and Traditional Chinese but does not provide information on the trading hours for specific trading products in forex, metals, energy, and agricultural products. Additionally, the English pages of the Madden website do not provide any trading hours information.
Deposits and Withdrawals:
Madden Markets Limited's official website does not provide information on supported deposit and withdrawal methods, currencies, fees, or processing times.
Trading Software:
Madden Markets Limited's official website indicates that the company provides the MetaTrader 4 (MT4) trading software, which is available for desktop (Windows/MacOS) and mobile (IOS/Android) use. However, users in certain countries or regions may encounter issues such as being unable to download or install the Android version of MT4 or experiencing slow download and installation speeds.
Regulatory Information:
Madden Markets Limited's official website indicates that the company holds a Money Services Business (MSB) license from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and is regulated or authorized by the National Futures Association (NFA) in the United States. However, the MSB license issued by FINTRAC primarily pertains to anti-money laundering and counter-terrorist financing regulations in Canada and does not regulate or authorize forex brokers. The results of a search on the National Futures Association (NFA) website show that the company is only a non-registered member of the NFA and is not regulated or authorized by the NFA.
Conclusion:
Madden Markets Limited has suspicions of fraud. Firstly, Madden's official website does not provide essential information related to trading, such as trading account types, specific trading products, spreads, commissions, margin ratios, deposit and withdrawal methods, fees, processing times, currencies, etc. Secondly, Madden's official website does not provide any company registration information for investors to verify. Lastly, the regulatory information displayed on Madden Markets Limited's official website, including the MSB license, is not a regulatory license for forex brokers, and the company is not regulated or authorized by the National Futures Association (NFA) as claimed. Based on this assessment, Madden Markets Limited has suspicions of fraud, and investors should exercise caution when considering the services provided by this company. TraderKnows reminds you to be vigilant about your financial security and avoid falling into fraudulent schemes.
