MarketTrend24 Review – BaFin Issues a Warning

Being just another drop in the sea of online trading scams, this broker couldn’t even afford a more unique or attractive web template. 

The design you’ve probably seen several dozen times if you’ve been following our reviews tells us they are nothing more than a common fraudster. Pay good attention to this MarketTrend24 review if you wish to keep your assets safe and far from the dirty hands of these financial cons. 

Fully Illicit

Not a single legal document can be found on the site. In addition, the MarketTrend24 broker hasn’t posted a single relevant piece of company information, for example their headquarters address or contact details. 

Moreover, the anonymous business we’re reviewing can’t be found in any regulatory database or register of business entities, no matter how hard we looked. However, we did manage to find a public warning. The alert was issued by BaFin, one of the most diligent Tier 1 regulators in EEA. 

The warning states that this conduct is “offering consumers financial and investment services without the required authorisation”. That’s your sign to stay away from this site and ignore any of their investment proposals.

How Fake Broker Schemes Work

One of the twin websites, markettrend24.com, has already been shut down. The other, market-trend24.com, is still operational having been launched in April 2024.

The fraudsters actively target people from these countries:

• United Kingdom
• Germany
• Norway
• France
• Netherlands

The broker, if you can call it that, relies on a boiler room to attract victims. These scam call centers work around the clock, with the company agents constantly calling people to invest.

They pitch alleged cryptocurrency expertise and offer unrealistically lucrative trading deals. The trading platform is doctored to show fake earnings in order to keep the clients attention on pretense trading for as long as possible.

The investment is stolen, as with other schemes like WestHillCapital. The sites don’t last long, and it is recommended to quickly start a recovery procedure. Contact our team via the live chat to learn more.

Reputation Built on Lies

The con artists use pay for review seller networks to post misleading MarketTrend24 reviews on popular platforms. Fake firms like this one or Enduring Markets are not to be trusted.

On the TrustPilot ratings site, the firm has a nearly impeccable 4.1 stars score. If we focus on the negative comments, we can see first hand accounts on how these con artists manipulate the trading information to maintain the ruse.

Unrealistic Trading Costs

This broker offers spreads of 1.5 for FX majors for the cheapest account, while the premium account includes spreads from 0 pips. MarketTrend24 leverage, on the other hand, increases with the price of the package, so that the maximum ratio reaches 1:500. 

All other services, transactions and conversions allegedly require no fees to be paid, but we highly doubt the credibility of claims coming from a blacklisted con.

Up to 100% Bonus

Bonuses are a particular scam strategy that helps swindlers keep all of the profit and deposits their clients have made on their portal. 

Once they credit an account with a bonus, they will ask for a trading volume to be reached in order to unlock withdrawals. These are always unreachable, so your funds are forever stuck on illicit trading sites unless you ask for professional help.

Nothing to Offer

Trading features and conditions on this site will not help you become a professional Forex trader. Total equipment is just a bunch of bogus features that serve no purpose. You will make sure of that as soon as you register for a MarketTrend24 login.

Non-Functional Trading Room

Since the trading area can be previewed without a registered account, that’s what we did first. However, as expected, the MarketTrend24 WebTrader had nothing of value to show us. 

None of the basic options and tools is available, let alone the advanced and progressive features which MT4 and MT5 are known for. One look at this rudimentary web trader is enough to make you not want to join this portal.

Basic Offer of Instruments

The MarketTrend24 scam doesn’t even try too hard to make the website visitors believe they have a variety of instruments available. From what we could find inside the platform, there’s just a few most common products groups:

• Stocks – AstraZeneca, Bayer, Daimler
• Crypto – BTC, LTC, XRP
• Forex – USD/EUR, EUR/CHF, USD/GBP
• Commodities – Cocoa, Sugar, Cotton
• Indices – HK 50, CAC 40, FTSE 100

Tiered Trading Account

On the surface level, it appears that there are several MarketTrend24 account types. They are what we call “tiered accounts”, and exist to encourage further spending.

Fraudsters use various benefits like heightened leverage and larger bonuses to justify larger costs. They will often pester their clients to “upgrade” accounts in order to squeeze more funds from them.

There is no information about minimum deposits, and the advertised “free demo” does not work:

• Standard – $250
• Silver – $2,500
• Gold – $10,000
• VIP – $50,000

No Withdrawal Disclosure

As there is no Terms document, you’ll have to rely on information that is available through some FAQs. These are not exactly reliable or precise.

MarketTrend24 withdrawal and deposit can allegedly be done through bank cards, wire transfers and cryptocurrency (BTC) transfers. The company does not allow a payout prior to the KYC being completed, which is the main lockout mechanism.

Support Office is Inactive

Despite our repeated tries to send the request for assistance, no one could receive it. That is because this firm doesn’t even have a help desk for the clients in need of support. However, it is nothing strange to encounter, as not a single fraudster has ever cared about their victims.

Need Help With Recovery? Contact Our Experts

This would-be broker is a known fraudulent entity placed on a BaFIN blacklist. The company uses several deceptive strategies to entrap victims and steal their money.

We never recommend investing with any unlicensed firm, as they are always a scam business. If you have deposited funds with this, or any other fraudulent company, book a consultation with our team. You may do so at any time via the live chat on our site.

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