File a Complaint Against
Know Your Options and Recover Your Funds
If you are looking for a reliable and trustworthy online broker, you might have come across Marketsbank. This broker claims to offer a wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. But is Marketsbank a scam or a legit broker? In this review, we will examine the features, advantages, and disadvantages of Marketsbank and help you decide if it is worth your time and money.
What is Marketsbank?
Marketsbank is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. The broker is operated by MarketsBank Ltd, which is registered in the Marshall Islands. According to its website, Marketsbank has over 250,000 clients from more than 100 countries and provides access to over 1,000 trading assets.
Marketsbank offers four types of trading accounts: Basic, Silver, Gold, and Platinum. Each account has different features and benefits, such as leverage, spreads, commissions, bonuses, educational resources, and customer support. The minimum deposit required to open an account is $250 for the Basic account and $50,000 for the Platinum account.
Marketsbank also provides a web-based trading platform that is compatible with any device and browser. The platform has a user-friendly interface and offers various tools and indicators for technical analysis. Additionally, Marketsbank supports social trading, which allows traders to copy the trades of other successful traders on the platform.
What are the pros and cons of Marketsbank?
- A wide range of trading instruments
- A web-based trading platform that is easy to use
- Social trading feature
- Multiple account types with different benefits
- Competitive spreads and commissions
- Generous bonuses and promotions
- Educational resources and webinars
- 24/7 customer support via phone, email, and live chat
- Not regulated by any reputable authority
- No MetaTrader 4 or MetaTrader 5 platforms
- High minimum deposit for higher-tier accounts
- Limited payment methods
- No demo account
Is Marketsbank a scam or a legit broker?
The most important question that you need to ask before choosing an online broker is whether it is a scam or a legit broker. Unfortunately, there is no definitive answer to this question, as different traders may have different experiences and opinions about a broker. However, based on our research and analysis, we can provide some factors that can help you make an informed decision.
One of the main factors that can indicate the credibility of a broker is its regulation. A regulated broker means that it follows the rules and standards set by a reputable authority that oversees its operations and protects its clients’ interests. A regulated broker also means that it keeps its clients’ funds in segregated accounts, uses secure encryption methods, offers fair trading conditions, and provides compensation schemes in case of insolvency.
Unfortunately, Marketsbank is not regulated by any reputable authority. The broker is registered in the Marshall Islands, which is known as an offshore jurisdiction that has lax regulations and oversight. This means that Marketsbank can operate with minimal transparency and accountability and may not comply with the best practices of the industry. Moreover, this means that if you encounter any issues or disputes with the broker, you may not have any legal recourse or protection.
Another factor that can indicate the reliability of a broker is its reputation. A reputable broker means that it has a good track record of providing quality services and satisfying its clients’ needs. A reputable broker also means that it has positive reviews and feedback from its users and experts on various platforms and websites.
Unfortunately, Marketsbank does not have a good reputation among its users and experts. The broker has received many complaints and negative reviews on various platforms and websites, such as Trustpilot, Forex Peace Army, Scam Broker Investigator, and others. Some of the common issues that users have reported include:
- Difficulty in withdrawing funds
- Unresponsive or rude customer support
- Unauthorized charges or fees
- Manipulation of prices or trades
- Pressure to deposit more money or accept bonuses
Based on these factors, we can conclude that Marketsbank is not a legit broker but a scam. The broker does not have any regulation or reputation to back up its claims and offers. The broker also has many red flags and warning signs that suggest that it is not trustworthy or safe to trade with. Therefore, we advise you to avoid Marketsbank at all costs and look for other alternatives that are more reliable and reputable.
What to Do If You’ve Lost Money with Marketsbank?
If you have been scammed by Marketsbankor any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.