Medeforex.com

Medeforex.com's most powerful weapon (of sorts) is its website. We have reviewed countless shady brokers that nevertheless had very stable websites, where most of the effort was put into. Here is another typical example of a broker that is ultimately a scam but that has an attractive layout. This is a dangerous entity, and one to really look out for. Do not invest in this broker, and read the review for all the info needed.

First and foremost, let's get the crucial part out of the way. The broker is allegedly regulated by the NFA, which can only be true in some unparalleled dimension. The NFA is perhaps the most austere FX regulator in the world and as such is cannot even waste energy on gazing upon Medeforex.com and similar scammer entities. In order to be made into a legit FX broker in the US one must cover very harsh demands.
Yet, the company stick to its lie, and furthers it by presenting a forged NFA certificate, which anyone can easily replicate. Medeforex.com is netiehr regulated in the United States nor is it registered there!

Moreover, we come across the statement that the website of the broker is not intended to be used by any residents in any country or jurisdiction where its usage would be contrary to local regulation. Ok, but what local law or regulation? Or better yet, what jurisdictions? Questions that not many novice traders will eve ask, thus making this claim perfect for these types of clients.

Last but not least, there are no legal documents revealed by the company. Legal documents are used to create a legal bond between users and the company; without these there is no legal relationship.

It's obvious that Medeforex.com is unregulated, and is therefore a risk to all!

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).

After an easy registration, we were faced with the fact that we were given no credentials for trading software; in order to acquire them, we had to provide ID information, and this we would never do with an unregulated broker.

And so, we are back to the start. The website reveals that the leverage is capped at 1:500, and that the spread value starts from 0.0 pip, which is impossible, and thus there must be either a hidden commission , or the number has been exaggerated in order to lure users into the scheme. The available trading assets are forex currency pairs, commodities, shares, and indices.

MEDEFOREX.COM LOGIN

The MT5 that is actually made available here was no accessible to us because we never received any credentials for logging in.

Moreover, there is a web trader link o the website which when clicked on sends the user to what looks like a Chinese search engine. We were laughing at this point, as you can imagine.

MEDEFOREX.COM MINIMUM DEPOSIT

There was no way to access the depositing area before verifying our account, and so we left it at that.

The website reveals that credit cards, debit cards, alternative wallets, and bank transfers are used as payment methods, but no proof exists.

The minimum deposit on the site is indicated as being $200, although there is no rpoof of this being the case.

Overall, the payment details could have been easily made up.

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.

MEDEFOREX.COM WITHDRAW TIME AND FEES

There was no withdrawing any of our your funds before first completing a verification process. Both of these actions will lead to a loss, for prior to withdrawing one must invest. And to verify one's account, one needs to include a bunch of ID details that should never be shared with an unregulated broker.

From the website, we learn that there are no withdrawal fees, and that the processing of requests happens on the same day if the request was issued before 1pm EST.

ACCOUNT VERIFICATION

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!

BOTTOM LINE

Medeforex.com is a waste of your money! Don't invest here!