Hi, i’ve a problem to withdrawal my money from Mobatrade. You’ve experience with this brooker. I send also my account are Mobatrade.It’s a good situation but they refuse to withdrawal my money.What van i do?
Based on our research Mobatrade is an unregulated broker. This means it does not hold any serious license from any top-tier authority.
Being an offshore or unregulated broker doesn’t always mean that the broker is a scam. However, staying alert and being careful is one of the priorities in forex trading. On its website, the broker mentions that its regulatory compliance is underway and that the broker is waiting for the authorities to grant them a license. However, this seems to be just a misleading statement, as there is not even a mention of the regulatory body the company has applied for the license.
- However, when we dig deeper, we found some information based on the contact information. We found that there are three investment websites (mobatrade.com, polarbtc.com, and libreholdings.com) that are almost identical, and claim the same about the regulation being in the process. The interesting part is, that all of them seem to be operating in the UK, without being regulated.
- To be able to offer financial services in the UK, it is obligatory to have an FCA license. Evidently, none of the mentioned websites states about an FCA license.
- All of the above mentioned, coupled with the complaints from traders who report withdrawal problems, also aggressive attempts from the broker’s side to make more investments, indicates that the broker’s activities are fishy and do not serve the best benefits of the traders.
- Thus, staying away from the broker and signing only with well-regulated brokers with favorable conditions such as BlackBull Markets, XM, or HFM seems to be the only solution to the problem.
- Unfortunately, when trading with unregulated brokers, traders are not protected. This means that later, in case of any problems, they might be unable to claim their investments or profits.