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Montel Group

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Operating status: SCAM

Website: https://mtmotr.com/

Broker violations and abnormal records
  • 2022-05-26 BrokersView has reviewed that Montel Group is an unregulated forex broker

    Montel Group claims that it is under the supervision of the US Financial Crimes Enforcement Bureau MSB, and is also registered in the US NFA. However, despite its claims, this broker doesn't fall under valid regulation for the following reasons. 

    1) The US Financial Crimes Enforcement Bureau MSB does not regulate forex markets nor does it issue licenses for brokers engaging in such activities.

    2) We indeed found a result matching this broker in NFA's registry, however, Montel Group is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Montel Group doesn't satisfy these conditions. 

    All evidence clearly states that this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.

    Montel Group claims that it is under the supervision of the US Financial Crimes Enforcement Bureau MSB, and is also registered in the US NFA. However, despite its claims, this broker doesn't fall under valid regulation for the following reasons. 1) The US Financial Crimes Enforcement Bureau MSB does not regulate forex markets nor does it issue licenses for brokers engaging in such activities.2) We indeed found a result matching this broker in NFA's registry, however, Montel Group is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Montel Group doesn't satisfy these conditions. All evidence clearly states that this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.
  • 2022-11-17 BrokersView has found that Montel Group is not working

    BrokersView found the domain "https://mtmotr.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    BrokersView found the domain "https://mtmotr.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

Related Complaints

Q&A

How long it takes for me to receive my withdrawal if I use Skrill?

Khairul Abdi
United Kingdom
2022-06-22
ANSWER Montel Group is not a licensed or regulated broker even though it states offers that look good to be true. Montel Group claims that it is under the supervision of the US Financial Crimes Enforcement Bureau (FinCEN) with an MSB license, and is also registered in the US National Futures Association(NFA).However, please be informed that The FinCEN is not a regulatory authority, which means it does not regulate forex markets nor does it issue licenses for brokers engaging in such activities. When we searched in NFA, we found Montel Group is not overseen by NFA as it is not an approved member of the regulator. The truth is, Montel Group is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Montel Group and trade with licensed brokers.
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