Attention!
This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.
We advise traders to choose reliable and trustworthy licensed companies from among top brokers of our rating:
Summary of MyTrade Trading Company
MyTrade offers internet-based trading services all over the world, enabling trading operations in the international currency market Forex. Company enables trading on Forex market while ensuring round the clock quality technical support. Handy and easy to use trading platform MetaTrader 4 offers access to timely financial news, technical analysis of financial instruments, the ability to use mechanical trading systems and much more.
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We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
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FAQs
Why has MyTrade been placed on the Forex Broker Blacklist?
Possible reasons:
• multiple complaints have been filed against MyTrade by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of MyTrade is down, not updated or operates with clear errors and some features are not available;
• MyTrade has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.
What should I do if MyTrade got blacklisted and I still have money in my account?
Don’t panic right away. First, try to find out the reason why MyTrade got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.
What should I do if I cannot withdraw my money from MyTrade?
If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.
Is there any chance to recover my money if MyTrade is a scam?
On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.
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