MCI Investments – Can You Trust This Broker?

Website URL: https://www.mciinvestments.com/

Founded: 2018

Regulations: Not Regulated

Languages: English, French, Spanish

Deposit Methods: Bank Transfer, Visa, MasterCard

Minimum Deposit: $50

Free Demo Account: No

Number of Assets: N/A

Types of Assets: CFDs on Forex, Indices, Commodities, Shares, Cryptocurrencies

Trading Accounts and Conditions

Here are the different types of accounts offered by MCI Investments:

• Premium: To trade on this type of account, you need to make a minimum deposit of $50. You get a leverage of 1:1000 and the spreads start at 1 pip.
• Advanced: To trade on the Advanced account, you first need to make a deposit of at least $100. The leverage ratio offered is 1:250 and the spreads start at 0 pips.
• Fixed: To be able to trade on the Fixed account, you need a minimum deposit of $250. The leverage ratio offered is 1:400, and the spread is fixed, however, the pips are not given.

MCI Investments – Advantages

Here are the advantages of trading with MCI Investments:

• High Leverages

This broker offers its clients leverages that are as high as 1:1000. With such high leverages, traders that carry out all kinds of trading strategies with ease. However, it is also our duty to warn traders that such high leverage levels also come hand in hand with extremely high risk.

• MetaTrader 4 Platform Offered

Another possible advantage could be the claim that MCI Investments offers their clients the use of the MetaTrader 4 platform.

The MT4 platform – as it is popularly known – is by far the most popular platform in the world. This is because the software is easy to use even for beginners. And there are tons of features such as technical indicators, charting tools and trading robots that make trading much easier.

We have to warn readers here that since we were not able to access MCI Investments’ platform for ourselves, we cannot verify the broker’s claim about this offer.

MCI Investments – Disadvantages

Here are the many disadvantages you will face if you contract with MCI Investments:

• Offshore Broker, Vague Corporate Information

MCI Investments claims to be owned and operated by a company by the name of FX Limited. The broker also claims that this company is registered in the Marshall Islands, which makes them an offshore broker.

The reason why being an offshore broker from the Marshall Islands is a red flag is because such brokerages have to pay low fees and taxes to be registered. They also don’t have to be located in the Marshall Islands to be registered there, which means that they are virtually anonymous – which is the case with this broker.

Many scammers prefer to use locations such as the Marshall Islands since regulatory oversight offered by this jurisdiction is minimal, leaving them free to scam people.

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• Regulatory Warning Issued Against Broker

The Spanish regulator, the CNMV, has issued a regulatory warning against MCI Investments. The financial watchdog clearly states that this broker does not have the authorization to offer its financial services in Spain or any other European Union nation as it is not regulated.

Government agencies usually only issue such warnings if there have been many complaints against the broker, so this is a huge red flag that all traders should heed.

• No Demo Account

MCI Investments does not offer its clients any demo account, which is another negative against this broker.

Traders need demo accounts so that they can check whether the trading conditions offered by the broker are as promised, and whether the trading platform is worth it.

Scammers usually do not offer any demo account since they usually have lied about their trading conditions, or have simply omitted to give any information about them.

So, the fact that this broker does not offer a demo account is suspicious.

• Cannot Access Trading Platform

Because this broker does not offer a demo account, we registered for a live trading account. However, despite our registration, we were unable to access their trading platform.

So, even though this broker claims to offer the famous MT4 trading software, we would advise traders to find another broker – one that is regulated and transparent – that offers the MT4 trading platform.

• No Legal Document Available

The links on MCI Investments’ website that should lead to the Terms and Conditions page do not work. In fact, we could find the Terms and Conditions page at all.

The Terms and Conditions are basically the legal document that is the contract between the broker and the trader. This tells the trader the terms of service, and if this is missing, then it basically means that if you contract with this broker, you will be agreeing to anything the broker wants.

• Clone Website

It isn’t just the missing legal documents that concern us. There are actually sections of this broker’s website where another broker’s name (easyMarkets) is featured.

When we checked the easyMarkets website, we found that MCI Investments’ website was literally a mirror of the former. EasyMarkets is a major forex broker that is quite reputed, and MCI Investments has simply copied and pasted easyMarkets’ content onto their own website. This means that this broker could possibly be a clone site, which means that they are scammers.

Conclusion 

After going through our due diligence on MCI Investments, we can say for sure that this broker is a scammer and that if you invest your money with them, chances are you will never see that money again.

There is a regulatory warning against this broker, which is the biggest indication that all traders should stay far away from MCI Investments. If you are looking to invest your money, then we recommend that you look for a broker that is actually regulated and is transparent about its dealings with its customers.

MCI Investments

2.6

User Experience

3.2/10

Payment Options

2.4/10

Security

2.6/10

Support

2.5/10

Reputation

2.3/10

Pros

• High Leverage
• MetaTrader 4 Platform Offered

Cons

• Offshore Broker, Vague Corporate Information
• Regulatory Warning Issued Against Broker
• No Demo Account
• Cannot Access Trading Platform
• No Legal Document Available