Table of contents
Certain offshore brokers are so obviously scammer, that we wonder how could anyone fall for their schemes. Market-Token.com is one of these brokers, and we came the conclusion that only very novice users will actually fall for its schemes. Maybe that's the reason that the broker's site was slowing down at the time of writing this. The days of Market-Token.com seem to be numbered. Read the review to see what's wrong with it.
We went into the website of Market-Token.com, expecting to see the common claims- an offshore address or a UK one; perhaps even a fake certificate, or a fake regulatory assertion. But instead we found no such thing. All there was to the broker was a a complete lack of regulatory and registration details.
We have no choice but to label the broker as a completely anonymous company. We don't know where Market-Token.com is based, nor where all invested capital end up at. Anonymity is a a state that only the most scammer brokers find themselves in. No matter how good things may seem, anonymous brokers are after one thing- money.
Moreover, anonymity is synonymous with illegitimacy. Obviously, Market-Token.com is not licensed, and is a very dangerous broker. All investments will be lost, while any ID details provided by the user will be misplaced.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
We learn early on that Market-Token.com offers only cryptocurrencies as its exclusive tradeable asset type. Technically Market-Token.com is, therefore, an exclusive crypto broker. Trading with crypto is usually very risky and unpredictable with legit exchanges. Now imagine the risk increases ten-fold when doing the same with an unlicensed firm that seems to be only after profit.
The leverage is capped at 1:125, which is way too high for crypto. Consider that the average leverage for crypto is 1:2, we have proof here that the broke does not know what it is talking about. Such a high leverage would also greatly increases the risk of loosing all the invested funds.
We were no able to access the web trader, although we doubt that we would have learned anything new or game-changing.
Considering that cryptocurrencies are the only asset type, we assume that there isn't a lot to do on the trading platform.
Furthermore, the broker is unregulated and the usage of its web trader would be completely futile, and users will definitely pay a heavy price for using it.
MARKET-TOKEN.COM MINIMUM DEPOSIT
Depositing in unregulated brokers is a complete waste! All investments will be lost. You have been warned once again!
The minimum deposit is 0.01 BTC which as of writing this is $37 900. This is a laughably extreme requirement without a doubt, and a very pushy one at that. Only wealthy users will be able to invest this amount, and usually the big fish do not fall for similar scams.
The only investment options are a bunch of crypto methods. Crypto methods used for payments are untraceable, which goes hand in hand with the anonymous state of the broker.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
MARKET-TOKEN.COM WITHDRAW TIME AND FEES
Withdrawing from unlicensed brokers is almost never a possibility. We don't find a reason to invest in the first place!
The only thing we learn about withdrawals- that has been directly revealed- is that there are fees.
The main withdrawal fees are as follows: 0.0005 BTC for Bitcoin withdrawals, 0.008 ETH on each Ethereum withdrawal, and 20 DOGE on Dogecoin withdrawals.
There is also a 1% commission for all transactions with crypto assets. This seems like a different fee than the one above, acting as an additional charge. However, the commission has not really been explained.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
There really is no reason to invest in this broker, Market-Token.com is a scam and a risk to all. You would be throwing your money away!
Market-Token.com compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines