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MTFE

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Operating status: SCAM

Website: https://www.mtfe.ca/

Broker violations and abnormal records
  • 2023-02-23 BrokersView has reviewed that MTFE is an Unregulated Forex Broker

    On MTFE website, it claims to be regulated under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) (MSB No.: M22076570).

    However, FINTRAC is Canada's financial intelligence unit and its mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control. It doesn't regulate any Forex investment activities. 

    The truth is, MTFE scam is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. It is a scam. Investors are advised against dealing with it, as MTFE trading service is fake.

    On MTFE website, it claims to be regulated under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) (MSB No.: M22076570).However, FINTRAC is Canada's financial intelligence unit and its mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control. It doesn't regulate any Forex investment activities. The truth is, MTFE scam is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. It is a scam. Investors are advised against dealing with it, as MTFE trading service is fake.
  • 2023-06-29 The OSC issued a warning against MTFE

    On June 30, 2023, the Ontario Securities Commission (OSC) issued a warning against MTFE, stating that this broker is not registered in Ontario to engage in the business of trading in securities: https://www.osc.ca/en/investors/warnings/metaverse-foreign-exchange-group-inc

    On June 30, 2023, the Ontario Securities Commission (OSC) issued a warning against MTFE, stating that this broker is not registered in Ontario to engage in the business of trading in securities: https://www.osc.ca/en/investors/warnings/metaverse-foreign-exchange-group-inc

Related Complaints

Q&A

Is the mtfe website inaccessible now? How can I withdraw?

Ishak Suruadji
Indonesia
2023-08-17
ANSWER MTFE's website is currently inaccessible. Due to its fraudulent nature, it is nearly impossible to successfully make a withdrawal.BrokersView has confirmed that MTFE is a Ponzi scheme, which refills its capital pool by attracting new investors and investments. It, in fact, doesn't provide a platform for investors to trade, and once they failed to lure more people into sending money to them, the scheme would immediately collapse.The broken website raises a red flag. In a lot of scams, fraudsters always disappear by disabling their websites and apps.We strongly suggest you stop sending any money to MTFE and do not provide any further personal information to them. Please collect relevant evidence and report it to local authorities. We kindly request you stay vigilant and do not fall for another kind of scam called "recovery scam", where con artists claim they are able to track your money and recover all your lost investments. The Financial Conduct Authority (FCA) has warned the public of such scams.
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25 comments

SigridJane
I recently heard about it many times. And if it is in Canada, is it regulated by the IIROC? Sorry, I have been defrauded serveral times and I had to learn basic things about forex. I've read a lot of news about scammers, and licenses are part of important things a broker should have. Wait for your answer.
2022-07-05
4
Reply
Léandre NDAYISENGA
MTFE is real
2023-06-23
3
Reply
TOMMY LUKE
You got some info wrong, MTFE is registered and can be found on these regulators, also I have friends who have traded for over 2 years, yet you said MTFE came out 2022. Before the introduction of their Ai mode in 2022, users have been trading manually over the years. So please do a proper research and correct your review
2022-07-26
3
Reply
Babanyara Fagge
You research is wrong you are just jealous for MTFE.I investigated based on the MSB number they provided on their web M22076570 MSB Canada approved this register number 2022 and it will end 2023 everyone can go and search.
2022-07-03
3
Reply
ala eddine Mrad
i have 2000$
2022-08-02
2
Reply
Ibrahim Umar
Assalamualaikum warahmatullah
2023-08-28
1
Reply
Abdurrashid Khalid
MTFE is a great team MTFE is a good to usi testing deposit and withdrawal is good for us
2022-08-11
1
Reply
KASPARIKUTTY ANTONY
MTFE must reveal their legal status in each country they do the business....The ROI is Very High in MTFE for the investors....
2022-07-14
1
Reply
Haruna Yusuf
Why only 5 reviews?I might have said MTFE is real NOT scamming
2022-07-12
1
Reply
Joao Esteves Gemal
Scammers, thieves, avoid them
2022-07-11
1
Reply

1-10 of 25 comments

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