MPRDE FX has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that MPRDE FX 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 had a dispute with MPRDE FX and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Two-factor authentication|Tax reports included|Market news feed
Cons: Slow to add new assets
Tried to withdraw my funds from MPRDE FX and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
After seeing ads for MPRDE FX 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
The only good thing about MPRDE FX is that they remind you why regulation matters. I found them while looking for alternatives to my previous provider. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Wide product range|Responsive team|Multi-currency support
Cons: Desktop app not available on Linux
Where do I even begin with MPRDE FX? for over three years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Quick verification|Easy to use platform|Social trading features
Cons: Research section could be deeper
The platform itself is okay, but the customer service at MPRDE FX is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Intuitive for beginners|Two-factor authentication
Cons: Would like more payment methods|Could offer more webinars
Do not believe the bonus offer from MPRDE FX. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited while looking for alternatives to my previous provider and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Good mobile app|Smooth onboarding|Wide product range
Cons: Wait times can be long during peak hours|Cannot customize dashboard fully
MPRDE FX advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Automated trading options|Demo account available|Comprehensive tools
Cons: Inactivity fee applies after 12 months|Help articles are sometimes vague
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. MPRDE FX recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Demo account available|Comprehensive tools|Fast support response|Smooth onboarding
Cons: Onboarding videos are outdated|Website design could be more modern