MarketsFly Review – Mauritius Scam on the Loose

Our MarketsFly review focuses on revealing the truth behind a deceptive marketing campaign launched by an illicit of the grid brokerage brand. Despite the lack of license, this firm claims to aim to deliver future growth, strategic priorities, fundamentals of future successes and data analytical tools to all their clients. 

At that, premium support around the clock is allegedly there to assist clients with whatever issue they could be facing. The biggest of all issues you’ll encounter here is definitely the lies, withdrawal issues and stolen deposits.

Safety Risks and Security Issues

While their convincing web presentation may lead you to think this is a genuine firm, don’t rush into such conclusions too quickly. The anonymous firm running the website is not mentioned anywhere except in the legal documents. 

Breakline Markets Limited is supposed to be the name of the owning company, yet they do not appear in the FSA register of regulated market participants in Mauritius. Moreover, this brokerage brand doesn’t own any other license, let alone a reputable one issued by FCA, ASIC, BaFin, or CySEC.

With that in mind, we warn our audience to seek a more reliable brokerage that can offer segregated bank accounts, negative balance insurance and compensation plans. Unlike fraudsters like InvestQHub, premium brokers offer proper safety of funds.

How the Con Functions

The con scheme revolves around pressure exerted by so-called perceived scarcity. The website is opaque on purpose, and urges clients to spend before they think so that they won’t miss the “deal of the lifetime”.

Boiler room agents leverage this pressure, as they contact the victims directly and solicit their get rich quick scheme. Contrary to the claims of “years in business”, the marketsfly.com domain was only launched in December 2023.

The swindlers are most active in these nations:

• Spain
• Sweden
• Finland
• Norway
• Denmark

Clients Warn the Public

Many online frauds, like Bitexfy for instance, cover up the truth about their scheme through fake testimonials. Although any MarketsFly reviews shown on the website are positive, the ones on TrustPilot are quite the opposite.

There, nearly all of the comments are critical of the firm, with a total trust score of 2.2 stars. Don’t ignore the warnings – book a consultation with our legal team in order to start a process to recover your stolen money!

No Costs Revealed

Starting from the basic MarketsFly trading parameters like leverage and spreads to other fees and commissions, nothing is known, until you access the user area. There, available leverage is set to 1:100. Spreads are mostly floating while fixed range between 1.4 and 1.1 pips, depending on the account.

Legal papers reveal several hints about clients being the only one in charge of covering all expenses. Furthermore, there’s an inactivity fee of $40 paid monthly. An additional handling fee of $20 is charged monthly and can be changed at any time, without prior notice.

Make-Believe Trading

MarketsFly Forex trading features exist only to maintain an illusion of trading. Many of the advertised features are either unavailable, or oversold to the point of ridicule. The trading environment is incredibly basic, but as you will see, this is done for a reason.

Doctored Trading App

The company flaunts their MarketsFly app like it’s some kind of a hot shot cutting edge software solution. In  reality, however, it’s an incredibly basic web trader which has been manipulated by the swindlers.

The app uses charts that are made to be TradingView lookalikes, but the shown data is quite different. Trading data is constantly edited to forward whichever agenda the swindlers have in mind at the moment. 

The company also advertises a non-existent Android app in order to attract users that prefer trading on a mobile device.

Accounts Options and Types

First of all, the packages advertised on this site are divided into these two general groups:

Except the fact that the Demo account can’t be activated, Live accounts don’t clarify what is the minimum deposit requirement. Retail live trading accounts don’t offer as attractive features as advanced ones do. By that we mean account managers, premium support, investment solutions, etc, available after creating a MarketsFly login. 

Here’s the account names:

• Active Retail Standard Traders
• Professional Traders
• VIP (Special Client Setup)
• Corporate Traders

Confusing Asset Selection

There’s a discrepancy between the assets advertised as available on the website, and the ones that appear in the trading app. Many products with the MarketsFly scam are either misrepresented, or outright missing.

We did gain limited access to the app, which contains these instruments:

• Forex – EUR/USD, AUD/NZD, CHF/GBP, USD/JPY
• Cryptocurrencies – BTC, ETH, ADA, XRP
• Shares – Disney, Toyota, Adidas, Chevron
• Indices – S&P, Nasdaq, Nikkei, Ibex
• Commodities – Brent, Cocoa, Gold

Submitting a Withdrawal Request

Managing your funds is not possible without the involvement of the notorious account managers. These scam agents have to oversee your every transaction so they can attempt to extort more money from you if possible. That’s why you won’t get clear instructions on how to perform a MarketsFly withdrawal or even a deposit. 

This lack of transparency is yet another proof of how unscrupulous this operation is and how deviously deceptive their tactics are. Make sure you don’t invest here, or you’ll most probably be charged advanced fees before you attempt to make a payout.

No Help Desk

The company did not provide any customer support options. If you run into a snag, you’ll have to either trust the boiler room agent that got you into the precarious situation, or send an email which no one will read. Unfortunately, this is common with various con artists, as it helps them cut off the client and disappear with the money.

Invested With a Fake Broker? We Can Help!

The MarketsFly broker is nothing more than a well orchestrated fraud. Anything you see on the site is a carefully made trap designed to empty your pockets.

We understand that it is difficult to resist experienced financial swindlers and their manipulation tactics. There is a way to recover the money they stole from you, though. Book a free consultation with our experts today to learn more about recovery.

FAQ Section