Menfxprotrades has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Market...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After for about five months with Menfxprotrades I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Professional team|Customizable dashboard|Automated trading options|Multi-device support
Cons: No phone support on weekends
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Menfxprotrades is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I lost a significant amount because Menfxprotrades did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Tax reports included|Wide product range|Demo account available|Regular platform improvements
Cons: Account statements could be more detailed
For anyone considering Menfxprotrades, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
After seeing ads for Menfxprotrades online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly