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Introduction to Meteor Trade Review:
Scam brokers in the industry are coming up with new techniques to trick innocent customers of the financial market. One of the oldest and most common ways through which these scam brokers function is through cold calls. These scammers convince the customers into investing a huge amount of their hard-earned money into the scam. In today’s review, we will be investigating Meteor Trade. Meteor Trade has an impressive website that looks legitimate at first glance. However, we soon got to know about the alarming number of red flags hidden behind the up-to-date website. If you are here with the intention of knowing whether Meteor Trade is a scam broker or a legitimate one, read the full Meteor Trade review and find out for yourself.
Name: Meteor Trade
Website: meteortrade.pro
Address: The Republic of Dominica
Regulation: UNREGULATED
Leverage Offered: 1:200
Minimum Initial Deposit: $250
Rating: 1/5
About Meteor Trade:
In this section of the meteortrade.pro review, we will be discussing all the red flags that point us to the truth of the Meteor Trade scam. Stay tuned to know more details.
FOUNDERS NOT KNOWN
One of the common mess-ups by the scam brokers is that they would not disclose a lot of the important information for the fear of getting caught. In some peculiar cases, the scam brokers also make up random names and use stock photos to deceive people into thinking they are legitimate. In our case, Meteor Trade does not reveal anything about its founders. This seemed suspicious as to why would a company not disclose information about its founders if they are regulated? This raises a red flag against Meteor Trade that points us to the reality of the meteortrade.pro scam. One should never trade with a brokerage firm that hides information from its customers.
METEOR TRADE IS UNREGULATED
Regulation is another crucial parameter that everyone must check before investing in a brokerage firm. In our case, Meteor Trade claims to be based out of The Republic of Dominica. As you all might know, The Republic of Dominica is an offshore zone and also famous for scam brokers. This raises suspicion over the legitimacy of Meteor Trade. Upon investigating on the internet and cross-checking with the regulatory authorities, we came to know that Meteor Trade is UNREGULATED.
HUGE LEVERAGE AND MINIMUM INITIAL DEPOSIT
Meteor Trade asks for a huge minimum initial deposit and also offers huge leverage, both of which are not allowed by the regulatory authorities. The leverage limit is set at 1:30 by the regulatory authorities, whereas the leverage offered by Meteor Trade is 1:200 which is much higher. This raises a red flag against the Meteor Trade scam in this Meteor Trade review.
The minimum initial deposit demanded by the regulated brokerage firms lies between $5 and $10 whereas Meteor Trade demands $250 which yet again, raises a red flag against Meteor Trade scam.
Conclusion: Is Meteor Trade a scam?
To sum up, all that has been stated above, we leave it upon you to decide whether Meteor Trade is a scam broker or not. However, we must warn you to stay away from Meteor Trade as it is a potential threat. Read Iconic Capital Review here.
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