BASIC INFORMATION
Macking Financial is just another bogus forex broker. The initiative claims to put the world's most important financial market at your fingertips. You could assume this is the next great thing in the industry after seeing the website. But there's more to it than meets the eye.
Macking Financial claims to be a forex broker based in one of the world's main financial centers, offering consumers a “secure and simple transaction environment.” However, it soon becomes clear that this is an anonymous website that misleads by pretending to be a licensed broker. Macking Financial is a typical fraudulent operation that is connected to a large network of scam websites. The venture markets itself as a top financial provider. They provide their services across the globe without minding the rules set by financial bodies. It is illegal to collect money from citizens without acquiring a license. Additionally, Macking Financial states they have been in the market since 2015. The information is misleading as the organization was recently established. Macking Financial is not a safe investment. The venture is unconcerned about the well-being of its investors. Because the company does not segregate funds in distinct accounts, fund protection is not their top focus. Expert investors will not waste their time with an offshore plan. The entity's major target demographic is new investors.
Furthermore, the company cannot be trusted with tiny things. There are various red flags that must be addressed. We always recommend that you research a broker before making a deposit. Look for unfavorable feedback from export dealers. It is also critical that you completely understand the terms and conditions. The majority of customers ignore this part.
LICENSES
Macking Financial is a dubious venture that lacks all of the characteristics of a legitimate broker. The firm hasn't even gathered legal documents that connect them to their clients. There are no controlling rules in place to keep you from losing money to the Ponzi schemeME. This is a significant disadvantage.
Macking Financial Ltd is the putative parent company of the organization. It appears to have originated in Hong Kong. However, the government has stringent regulations in place for investment plans. We searched the database of the financial watchdog (the Security and Future Commission) but discovered no findings.
We always recommend that you deal with licensed investment schemes. They come with numerous advantages. For instance, in case of insolvency, the company can compensate you. However, offshore entities can leave the market whenever they please. It is hard to go after them as they use false contact details. Some of the reliable financial watchdogs include; the FCA, ASIC, CySEC, and CFTC.
Macking Financial Trading Accounts and Conditions
The trading lot size is 0.01, and the maximum transaction size is 50 lots. The minimum deposit for investors is $1000. This is much above the market norm. A basic enterprise requires a minimum of $250. Nonetheless, entities are accepting as little as $10. We can't think of anything distinctive about Macking Financial that would allow it to abuse traders in this way. The expected leverage is 1:200. It may appear to be a profitable prospect. However, the higher the cap, the greater the danger. The regulatory organizations allow between 1:30 and 1:50. It reduces risks and prevents investors from losing money. The system includes an MT5 trading interface. The issue is that they do not own the program. It is owned by yet another unscrupulous broker.
The MetaTrader platform is one of the most widely used in the industry. It has superior training tools as well as a plethora of indications. Investors may also automate their trading by creating their own EAs. The account's spread is 1.2, which is determined by the market. The cost of opening a transaction for investors is lower.
WITHDRAWAL AND DEPOSIT
The enterprise accepts payments by bank wire transfer and UnionPay. The minimum cash out amount for the bank transfer is $100, while the other method allows traders to withdraw $50. Unfortunately, after you establish an account, you will discover that the broker only accepts cryptocurrency deposits.
Payments made using cryptocurrency cannot be reversed. You also have no way of knowing who has received the payments. For con artists, it is ideal. Legitimate schemes will provide their consumers with a number of possibilities. Credit and debit cards are the best since merchants can issue a chargeback for up to 540 days.
Additionally, we have yet to see anyone who has earned from this scheme. We recommend that you research and settle with a reputable company. If there is no proof of payment, it is because traders are not interested in the firms services. When it comes to the safety of your money, settle with a famous venture.
Contact Details and Customer Support
Macking Financial is a company that requires traders to provide their data. You cannot open an account without availing yourself of your ID. Sharing such information with scammers, you are exposing yourself to severe risks. The whereabouts of this entity remain anonymous.
Every business understands the importance of having a genuine support team. The platform creates the impression that it cares about traders wellbeing. It has multilingual support that operates around the clock. If you encounter any challenge, the entity welcomes you to reach them. Trade with the best firms that allows you to interact with their staff on social media platforms. You can also learn more about the trending news that would affect the pricing.
It is worrying that there is no phone number available. The only way that traders can reach the firm is via email. This mode of communication is often used by investment schemes that want to remain anonymous. Macking Financial will ignore the cr of those they will have defrauded. Your emails will go unanswered.
MACKING FINANCIAL TRADING SOFTWARE
While Macking Financial are undeniably scammers, actual trading software – MetaTrader 5 (MT5) – can be downloaded from the website. But as already noted, this software is configured for another shady broker. The login details provided by Macking Financial was not accepted by the platform.
It is advisable to contact one of the many legitimate brokers that offer MT5 or the still very popular MT4. These platforms have established themselves as industry standard because they offer a wide range of features, including a wide variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.
