If you are looking for a reliable and trustworthy online broker, you might have come across Moburst. This platform claims to offer a variety of trading instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. But is Moburst a legit or scam broker? How can you tell the difference?
Moburst broker Review
In this blog post, we will review some of the features and aspects of Moburst, and help you decide whether it is worth your time and money. We will also provide some tips on how to avoid falling victim to online scams and frauds.
What is Moburst?
Moburst is an online trading platform that was launched in 2019. According to its website, it is operated by Moburst Group Ltd, a company registered in St. Vincent and the Grenadines. The website also states that Moburst is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines.
Moburst offers access to over 250 trading assets, including forex pairs, stocks, commodities, indices, and cryptocurrencies. It also claims to provide advanced trading tools, such as MetaTrader 4 (MT4), WebTrader, and mobile apps. The platform supports various payment methods, such as credit cards, wire transfers, e-wallets, and cryptocurrencies.
Like any other online broker, Moburst has its advantages and disadvantages. Here are some of the pros and cons that we found:
– A wide range of trading assets
– Multiple trading platforms
– Various payment methods
– Competitive spreads and commissions
– Educational resources and customer support
– Lack of transparency and credibility
– No license from reputable regulators
– Negative customer reviews and complaints
– High minimum deposit requirement
– Withdrawal fees and delays
Is Moburst a legit or a scam broker?
- The broker is not licensed by any reputable regulator, such as the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC). These regulators ensure that online brokers comply with strict rules and standards, such as keeping client funds in segregated accounts, providing negative balance protection, participating in compensation schemes, and submitting regular reports and audits. The FSA of St. Vincent and the Grenadines is not a credible regulator, as it does not oversee or supervise the activities of online brokers.
- The broker does not provide clear and accurate information about its ownership, location, contact details, or terms and conditions. This makes it hard to verify its identity and credibility, and to hold it accountable in case of any issues or disputes.
- The broker has received numerous negative reviews and complaints from customers who claim that they have been scammed or defrauded by Moburst. Some of the common issues include difficulty in withdrawing funds, manipulation of trading results, unauthorized charges, aggressive marketing tactics, and poor customer service.
- The broker requires a high minimum deposit of $250 to open an account, which is above the industry average of $100. This could indicate that the broker is trying to lure customers into depositing large amounts of money before disappearing with their funds.
- The broker charges withdrawal fees of up to 3.5% of the withdrawal amount, which is excessive and unreasonable. It also imposes withdrawal limits and delays, which could prevent customers from accessing their money.
Moburst is an online trading platform that claims to offer a variety of trading instruments, tools, and features. However, based on our review, we have serious doubts about its legitimacy and reliability. The broker is not licensed by any reputable regulator, does not provide clear and accurate information, has received negative customer reviews and complaints, and charges high fees and delays withdrawals. Therefore, we advise you to avoid Moburst and look for a more trustworthy and reputable online broker.
What to Do If You’ve Lost Money with Moburst?
If you have been scammed by Moburst or any other broker, you’ll want to seek assistance from brokerdispute.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokerdispute.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.