MCManagement – Are the Legitimate?

By Anonymous, from United Kingdom, August 31, 2020 at 11:22 AM

I cannot find any information about MCManagement or MCManagment (with and without an ‘e’) online which is rare. Secondly, I’m having trouble withdrawing funds at the moment, need to test their system. I’ve only just opened an account with them. Are they financially regulated? How long have they been trading across the globe? Can they be trusted? So far everything seems legitimate, except that I cannot view my withdrawals and I have not received the funds. I am told this will be done via Kraken, but that’s not what is on the website. It’s starting to get too complicated for me. I hope you can help! Thanks M

Answer: Hi Anonymous,

Unfortunately, MCManagement does not seem to be regulated. They do not provide any regulatory details and, moreover, we have found this information in the terms and conditions on the website: “there is no EU regulatory framework governing trading in cryptocurrency products. Investors are not entitled to any protection under the Investors’ Compensation Fund and have no rights to report to the Financial Ombudsman in case of a dispute with a company about cryptocurrency services.” Clearly, it means the broker is not responsible for your funds and is NOT regulated in the EU, despite its address (Switzerland) and contact phone number (UK), which are probably fake.

We would recommend to stay away from this entity and take out your funds as soon as possible.

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