Do You Want to Know If Meteor Trade Is Legitimate or a Scam Broker?
Meteor Trade has a decent website, except for a cringeworthy headline. It has no transparency, though, or proof of licensing. In fact, it’s been flagged by the SEC and the FCA of the UK has said it’s a suspected clone broker. This means the broker has taken a name similar to a regulated broker and has created a knock-off website and used a similar-sounding name to deceive people. Without these warnings, though, it’s obvious this is a scam from the trading conditions.
There Are Some Problems with Meteor Trade
The damage this clone broker can do is obvious when we look at the trading conditions. There are many crazy things written here. First of all, the broker says they have the right to suspend accounts at any time. Second, it can adjust fees without warning. Third, Meteor Trade can charge 30% in inactivity fees. Third, even though it claims not to charge commissions, the fine print says they deduct commissions automatically every month. Fourth, Meteor Trade offers illegal bonuses that can tie up money in client accounts. Fifth, the broker says any client money belongs to the broker until a trade is executed. We could probably have found more problems, but this is alarming.
Red Flags that Meteor Trade Could Be a Scam Broker
- Suspected clone scam
- SEC and FCA warnings
- Terrible trading conditions
- No transparency
- Bad reviews
If You Need Fund Recovery from Meteor Trade, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.
