Operating status: SCAM
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 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
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