Note: MTK official site -http://www.mtkforex.com/Category_36/Index.aspx is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is MTK？
MTK, short for METARK TRADING, is a digital trading platform in Australia, has been the subject of severe reservations due to issues such as their unresponsive website and the the suspicous ASIC clone regulatory status.
This article provides an in-depth examination of MTK, assessing the many elements of their service. If you're considering using this platform, we suggest a comprehensive read to fully appreciate potential risks and benefits. The article concludes with a summary of key points and aspects, providing a useful tool for those exploring the expansive world of online trading.
Pros & Cons
Pros:
Utilization of the MT4 Trading Platform: METARK Trading's employment of the MetaTrader 4 (MT4) platform, which is acclaimed worldwide, offers several benefits. MT4 delivers comprehensive technical analysis, a malleable trading system, and tools for algorithmic trading. This platform facilitates the automation of traders' strategies with Expert Advisors (EAs), thereby enhancing their overall trading journey.
Cons:
Concerning ASIC clone status:The suspicious status of being an ASIC clone introduces significant implications for both traders and investors due to the non-existence of a genuine authority supervising MTK's activities. Such a scenario exposes traders to the threat of fund loss, lacking an avenue for legal redress in instances like system failure, fraudulence, or insolvency.
Unreliable Website: Operational issues with the site can lead to a negative user experience and might result in missed opportunities. Traders stand losing crucial trading prospects if unable to log into the platform during key instances.
Deficiency of Transparency: Transparency is a key factor in securing user trust. Its absence can suggest concealed costs, ambiguous policies, or unethical practices. Unanticipated expenses or situations not openly disclosed initially can extensively affect trading results.
Negative Client Reviews: This concern arises from unfavorable feedback from the platform's existing clientele. Users' negative experiences and reviews indicate problems with the platform's services, which further discourage new users from choosing MTK. This not only impacts the platform's credibility but also signifies potential difficulties for users.
Is MTK Safe or Scam？
When considering the safety of a brokerage like MTK or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
Regulatory sight: At present, this broker is under suspious ASIC (Australia Securities &Investment Commi ssion) clone status with license no.476996, casting serious doubts over its legitimacy and dependability. Such worries are heightened due to the issue of an inaccessible broker's website.
User feedback: A scam report found on WikiFX raises questions about the company's operational dependability and liability which should be a red fag to interested traders.
Security measures: Currently, there is no publicly available information regarding the security measures implemented by this broker.
In the end, the decision to trade with MTK is a personal one that requires a thorough assessment of the advantages and disadvantages before making a final decision.
Trading Platform
MTK utilizes the globally recognized MetaTrader 4 (MT4) platform for its main trading interface. Known for its advanced functionalities, MT4 provides traders access to a wealth of powerful features. These include comprehensive technical analysis, a versatile trading system, and particularly, the opportunity to engage in algorithmic trading. Such an aspect allows traders to automate their trading strategies by using Expert Advisors (EAs).
Automated trading capabilities presented by MT4 enables traders to elevate the efficiency and productivity of their trading pursuits. This, in turn, provides them the leeway to concentrate on crafting solid trading strategies, making knowledgeable trading choices, and managing potential risks effectively.
User Exposure
One scam report on WikiFX calls for traders' vigilance. Before deciding to trade with the company, we highly suggest traders conduct a thorough examination of all the pertinent information. Our platform tries to support your trading endeavors effectively. If you stumble upon dishonest brokers or have been a victim of such fraudulent, we strongly encourage you to report through our “Exposure” section. Your input is essential to our pursuit of transparency, and our skilled team will endeavor to address your reports swiftly.
Customer Service
MTK offers limited customer support channels, including email and phone communication, along with QQ chat service, with a focus on addressing user issues and concerns in a timely, yet thorough manner.
Email: mtk@mtkforex.com.
QQ: 2996518160
Phone: 4001606016.
Conclusion
MTK, located in Australia, positions itself as a digital trading platform. However, it's suspected ASIC clone regulatory status, thereby indicating possible threats and legal breaches for traders. In addition to perceived regulatory failures, issues like the inaccessible website and disheartening feedback from consumers imply a lack of professionalism that degrade a user's interaction with the platform.
Hence, we recommend you to execute maximum prudence if you are considering to trade with MTK. It's of great significance for brokers to adhere to regulatory standards and operate transparently. Opting for alternative platforms that maintain compliance with these essential norms is a good choice to stay away from unprofessional brokers.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-01-05 18:45
