Mekness Review – New Threat From Offshore

Presenting false corporate information in order to leave a good impression on potential clients is what Mekness broker does well. CBR apparently wouldn’t agree with their methods, as the prominent regulator has them blacklisted for illicit activities. 

Although the site seems comprehensive and transparent, the real truth about this attractive yet unprofitable deal is yet to be discovered. Read our Mekness review for more information.

Labuan or SVG… Which Will It Be?

Mekness Limited, an allegedly regulated firm from Labuan operates the website we’re reviewing. However, according to the LFSA information, this firm is not licensed. 

While the Mekness scam tries hard to conceal their offshore tracks and the fact that they’re unregulated, legal documents reveal SVG courts to have exclusive jurisdiction over the company’s legal matters. On top of that, CBR has issued a warning against the conduct.

Binainvest is another example of an illicit firm trying to appear legit by faking their corporate information. Do not fall for such tricks and choose a licensed entity that offers segregated accounts, investor protection programs and compensation funds.

How The Fraud Works

The problematic meekness.com domain was started in June 2020, which you may quickly verify in WhoIs. The scammers’ target these particular regions:

• France
• Morocco
• Italy
• Spain

This boiler room uses numerous social network accounts to reach their clients. It operates profiles on Facebook, Instagram, X, Pinterest, TikTok and LinkedIn. The lack of Mekness reviews, however, shows that the firm isn’t at all popular among traders.

With the propaganda machine working its way, the boiler room agents have some basic foundation off of which to work their persuasion magic. Using a script prepared beforehand, they constantly pester people by phone, trying to pitch their investment scheme.

Unclear Service Costs

The spreads are said to start at 0.01 Pips, but the actual spreads depend on your trading account, starting with 1.3 Pips for Standard and 0.6 for VIP. Similarly, the company advertises a leverage of 1:100 on one page of the website, and 1:500 on another.

The fees are mostly concealed, even in the legal docs. The only actual number you’ll see is quite convoluted as well, stating that withdrawals pulled before 3.0, whatever that means, incurs a 15% fee.

Deposits and withdrawals are said to incur no charges, but this is difficult to believe when claimed by scammers. Many swindlers like Morfin FX also use hidden fees.

Trading Bonuses

The company offers a deposit bonus in order to entice further payments. Clients can expect a 10% bonus, or up to $5,000 with each investment. There is also a creatively named “No deposit bonus” of $50 for new clients.These are, of course, used to entrap clients in a convoluted withdrawal policy that denies payouts.

Unremarkable Trading Amenities

Don’t be fooled, this so-called company is a den of hardcore scammers. Any trading that you encounter is just a facade to keep you wasting money on it. The trading environment reflects this purpose, and the overall features are quite barebone and lackluster.

Leeching on MT5 Reputation

While Mekness webtrader seems to be most advertised, the prestigious app is also available for downloading on Windows devices. MT5 supports various built-in indicators and other tools for in-depth technical analysis and is, in general, considered better equipped than MT4. 

An abundance of reasons makes this technological solution most preferred by millions of investors worldwide. It’s no wonder these blacklisted cons use that to make their offer more attractive.

Available Instruments

As expected, there is no full disclosure of the trading instruments. There are multiple asset classes available, but very little is said about individual products.

Here’s an overview:

• Forex – EUR/USD, AUD/CAD, GBP/CHF, USD/JPY
• Futures – ES-E, CL, GC, ZW
• CFDs on Commodities – Oil, Gold, Wheat, Sugar
• Stocks – Apple, NVidia, Alibaba, Tesla
• ETFs – SPY, QQQ, VUG, GLD

Compare Accounts Page 404

Registering your Mekness login is a procedure that requires email and phone number verification, as well as KYC documents to be uploaded. After that, you can choose one of the several account types:

• Standard
• Universal
• Pro
• VIP

The prices of the packages are not revealed as the account comparison page displays the missing page error. The minimum investment required is $300 and differs depending on the asset you want to trade, not the package you choose. 

Demo Bait

The Mekness free demo account is credited with $50,000 in virtual currency for speculation. While this is not necessarily enough for prolonged practice, clients can have multiple demo accounts. Beware, though, because many fake brokers use these demos to present an overly optimistic profit margin.

Articles as the Only Learning Source

The whole of the Mekness Forex education consists of several groups of articles that cover the basics of Forex trading. There’s subjects like fundamental and technical analysis, indicators, oscillators and others covered. Since there’s no webinars, live lessons, ebook and video tutorials, this offer is quite inferior compared to others.

Promise of Easy Withdrawals

All payment procedures supported by the brokerage are advertised as quick, easy and straightforward without any costs. However, legal documents clearly say that all transactions are subject to fees, especially the Mekness withdrawals.

The transaction methods differ between those shown on the site and those in the user area, where e-wallets aren’t mentioned. These are some of the supported channels:

• Bank wire
• Credit cards
• Crypto

The minimum withdrawal amount is $50 else $10 will be charged as withdrawal processing fee, with additional 15% fee charged for premature withdrawals.

Suspicious Customer Support

The customer support service functions through a live chat feature accessible through the website. This will not open a chat on-site, however, and will instead direct you to a WhatsApp number. The system was intentionally set up in this way, because the fraudsters can change their phone number and cut the clients off at any moment.

Got Scammed? We Can Help Get Your Money Back!

This broker claims to be legally authorized in one nation, and fall under the legal jurisdiction of another. None of this is true in the end, and neither are their claims of a world-class trading opportunity.

If you’ve invested with these professional con artists, don’t be ashamed and contact our legal experts instead. We are available 24/7 via the live chat, and you may still recover your money with our help.

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