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MEX Atlantic

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1.0
(1 Review)

Founded: 2021 Min Deposit: 50 USD

Headquarters: - Max Lev: 1 : 500

Risk Level I

MEX Atlantic claims its registration with CIMA but its domain is yet to be verified.

Score
Business Scope
0.0
Trading Cost
1.0
Trading Platforms
1.0
Support
1.0
Licence Status
CIMA 1811316
Authorised

Deposit and Withdrawal

1.0

Score

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No Data

Company and Service

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Score

Profile
Founded 2021
Broker Type
ECN,  NDD
Credit Profile No information
Trading Platforms
MT4
iOS,  Android,  Webtrader
MT5
Windows,  iOS,  Android,  Webtrader
Contact
No Data
Others
Website Language
English
Customer Service By
Phone,  Email,  Live Chat,  Web Form,  Facebook,  Twitter,  LinkedIn,  Youtube,  WhatsApp
Supported Language
English

Related Complaints

Q&A Complaints

Mexatlantic

User_dadw
Iran
2023-09-04
ANSWER Dear Sir/Madam,Are you referring to MEX Atlantic at https://mexatlantic.com/?The website says it is operated by MEX Atlantic Corporation, a company regulated by the Cayman Islands Monetary Authority (CIMA) with Licence Number 1811316. While we did find corresponding records in the CIMA database, it is critical to note that the regulator doesn't provide details including registered domain, company address, phone number, and email for investors to verify. Therefore, there is no guarantee that the CIMA-licensed entity is the one who operates and manages website https://mexatlantic.com/. Put simply, since the information provided by the CIMA is limited, we cannot confirm that the website thereof is affiliated with MEX Atlantic Corporation. Please beware of the risks involved and exercise extreme caution while selecting a broker.Furthermore, MEX Atlantic mentions that it is part of MultiBank Group. We have contacted the latter, and they confirmed that they are associated. However, while MultiBank Group is regulated, it has been red-flagged by the UK Financial Conduct Authority (FCA) for illegally offering financial services or products in the UK without the required authorization. The full warning can be accessed here. A financial regulator's warning is a key factor when considering a broker's reliability, suggesting a platform's credibility and risks. If a platform has been warned by a regulatory body, it is advisable to think long and hard before making an investment decision.Therefore, despite having a license, Mexatlantic doesn't appear to be a safe choice for investors. It is weakly regulated. To mitigate risks, we strongly recommend choosing a fully regulated broker.
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Overall Score

1.0
1 Review

Cost 1.0

Platforms 1.0

Deposit & Withdrawal 1.0

Customer Support 1.0

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1 Review

GBi
7-12 months ECN Account Italy
I opened a trading account with Mex Atlantic, part of Multibank Group, in June 2023, with a 5K EUR deposit. I started making good profits, more than 5K, with a scalping strategy. Nobody complained about it and I withdrew my initial 5K. On October 3rd I took advantage of a large market volatility and made other 10K profits. Again no compliant on their side. After some days I tried to withdraw part of my profits, but the withdrawal was blocked. I wrote to my account manager Mr. Antonio Ferreira. The reply was that scalping is not tolerated by Multibank and thus my funds were frozen. To have my profits back I should reduce scalping below 20%. I asked where in the client agreement there was such a clause and what they define as scalping, and the only thing they were able to show me was a link to a page on Multibank Iraq (!), which BTW at the moment is not even existing. The truth is that NOWERE in their trading conditions nor in the client agreement, which are easy to find on their web site, it is mentioned that scalping is forbidden. Solely on these terms I carried on my trades. After several email exchanges, they told me I should decrease my scalping trades below 25% (not 20% as they mentioned initially). I accepted to do this and placed a consistent number of trades longer then what they mention as scalping to reduce the scalping volume below 25%, which reduced more than 1/3 of my profits. When I again wrote them to release my funds, the only reply I got was "I’m not sure what’s the request here, but the scalping ratio is still 100%". No attempt at all to settle the question or to analyze the trades. They simply found an excuse not to pay back my profits.Furthermore, they do not authorize me to copy any part of our email exchanges (which however I keep on any public forum. Apparently they perfectly do they are on the wrong side and they want to hide evidence for this.
2024-01-08
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