Apparently, MENA Global Market has been registered in Saint Vincent and the Grenadines but physically operates from Mauritius. What a combination! Surely not the best choice for registering a trading firm.
Nevertheless, we won’t jump to conclusions before thoroughly analyzing the company. Hopefully, that would save you a lot of time as well. Therefore, read this MENA Global Market review until the end.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings from: | N/A |
| Registered in: | Saint Vincent and the Grenadines |
| Operating since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $500 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, forex, indices, shares, commodities |
| Free Demo Account: | Available |
| How to Withdraw from This Company? | Considering offshore registration and lack of regulations, there’s a high chance you will experience withdrawal issues. If that happens, our refund team is there to advise you on recovery steps. |
Legal info: Is the MENA Global Market Legit?
Even if the company is offshore registered, we can’t say it’s not legit. For instance, if it has an FCA, BaFin, ASIC, or similar license, the company could be absolutely trusted. However, those are just dreams with the MENA Global Market. Unfortunately, many other signals make this broker untrustworthy.
Onwards, whatever this broker claims should be questioned, starting with their tier 1 banks as liquidity providers. But also negative balance protection. Mostly, features that are related to withdrawals will cause the most trouble.
Who are the MENA Global Market’s Clients?
According to the company’s domain age, they have been active since 2022. Yet, there are no publicly available MENA Global Market reviews. This is quite surprising for a company that claims to have $10 billion in Bitcoin daily trading volume.
In any case, the company’s traffic and victims mainly come from:
- United Arab Emirates
- Egypt
- United States
But regardless of your country, we invite you to share your opinion about the company in the comments below. After all, if you have any issues, our refund team will analyze your case and offer you an adequate solution.
Leverage, Commissions, Spreads, Fees and Taxes
General spreads with MENA Global Market broker start at 1.5 pips. This is considered industry average, and it would be acceptable if that’s the reality. But you can get that low spread on very few assets in most cases. Nevertheless, the company offers swap-free accounts and also accounts without commissions. Yet, the commissions applied on some accounts are not specified.
The worst part of these conditions is the leverage of 1:500. Even though the company offers negative balance protection, you can still lose everything quickly.
Bonuses
From one point of view, it’s good the company doesn’t have any bonus offers. That would be simply another way to scam you.
However, with unregulated brokers, you never know when the company will come up with such deals. After all, they can update all their conditions without prior notice. So, watch out.
MENA Global Market Trading Features
As can be seen, the company’s main feature is lightning-fast execution and so-called “razor-sharp” spreads. Yet, we wouldn’t say that 1.5 pips are razor-sharp. Anyway, this broker can’t compare its offers to any mediocre trading firm. Not to mention top-tier regulated ones.
Trading Platforms Available
Besides missing regulations, another reason to avoid this firm is its trading software. Instead of trusted Meta Trader, for example, they opted for a WebTrader.
What you won’t have with this platform is social and copy trading, EAs, or the availability of advanced trading strategies, such as scalping, hedging, or netting. Therefore, we suggest you stick to tier-1 licensed firms. But first, read our Paybis review for more clarity about the crypto world.
Available Trading Assets
Generally speaking, if the company is not trusted, its asset offer is practically meaningless. Especially if you can find their entire offer with some better-ranked brokerage. In any case, with this company, you can trade:
- Forex – EUR/AUD, HKD/SGD
- Commodities – platinum, silver
- Shares – IBM, AMD
- Indices – S&P500, CAC40
- Cryptos – ETH, DOT
Account Types
Overall, the company’s trading accounts don’t differ much. Practically, the only difference comes with spreads and if the commission is applied. Yet, they will require you to pay more money for those benefits.
The options are:
- Standard – $500
- PRO – $5.000
- VIP – $10.000
Mobile Trading App
One quite surprising thing about this brokerage is the availability of iOS and Android apps. Sadly, there’s quite a low download rate for those, which tells you enough about the apps and the company’s credibility.
On top of that, reviews of the app point out it’s a scam. Here, you have it in writing.
Demo Account
Another positive thing is the availability of the MENA Global Market demo account. With these, traders can easily explore all the features the platform offers. But without a license, we highly doubt they will stay there for long.
Education
Important to realize is that the company doesn’t offer any educational packages. However, they proudly present the availability of the MENA Global Market Islamic account. At least you get something out of them. But in the end, that won’t matter if they keep all of the money you deposited.
MENA Global Market Withdrawal
As can be seen, the MENA Global Market trading platform accepts payments via a wide range of methods. Allegedly, those are all available for withdrawals as well. Sadly, the company’s withdrawal policy doesn’t exist. They do not reveal withdrawal details in the T&Cs.
With this in mind, prepare your nerves if you apply for the payout. But also, keep in mind all the tricks the company might use to prevent you from making MENA Global Market withdrawals. These include verification problems, AML laws, and non-existent taxes.
Customer Support
With e-mail, phone numbers, and web contact forms, traders have many options to reach out to this broker.
However, without precise working hours, you can expect longer delays in replying. Possibly a complete ignorance as well. But to see why transparent customer service makes the difference, check our Fred Trading review.
Key Information To Consider About the MENA Global Market
All in all, if the MENA Global Market regulation existed, the story would be completely different. This way, you can only expect manipulation and issues. Therefore, we suggest you stick to proven brokerages that operate with adequate licenses.
Still, it’s not hard to get scammed nowadays. We have all fallen to some tricks at some point. The key is to know what to do when that happens. That’s why our refund experts offer the first refund consultation completely free. If you think this broker holds your money without a reason, get in touch with our team.
FAQ Section
What is MENA Global Market?
MENA Global Market is an offshore investment company registered in Saint Vincent and Grenadines and offices in Mauritius.
Is MENA Global Market Legit?
No. The company operates without maximum transparency and most importantly without adequate licenses.
How to Withdraw Money From My MENA Global Market Account?
In the best way, you can apply for a chargeback. But most likely, you’ll need the CipherTrace tool throughout the refund process. For more details, talk to our refund team.
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