Marketrip is an offshore / unlicensed Forex Broker, that opened in October 2019. It is questionable if they are still operating.
It does not say on their website, who owns this broker or where they are located. Their Terms & Conditions are confusing as it states: “These Terms and any relationship between the Company and the Client shall be governed by law applicable in Anguilla and subject to the exclusive jurisdiction of the Seychelles courts.” In another place it states they are governed by the laws of St Vincent and Grenadines. Basically, you will need a yacht to reach them if you have any issues.
For withdrawal problems and complaints read this.
Marketrip Brokers Review
While reviewing this new broker Marketrip, we saw that they have all the popular underlying assets for CFD trading on Forex, Market Indexes, Crypto Currency, Gold, Silver and Commodities. Marketrip uses the simple PandaTS trading platform, without MT4 or a mobile trading app.
Newbie CFD investors must know the difference between trading and investing. Investors using a CFD (Contracts for Difference) broker, are simply trading and looking to profit from the underlying assets price movement. You do not actually own the underlying asset or currency.
Marketrip offers a few account types, with the main difference being their account manager. Either way, you will receive plenty of phone calls from their salesmen asking for a bigger investment. The minimum deposit for a starter trading account is $250.
See what a licensed broker offers, Go here!
Is Marketrip a Legit Broker?
No, Marketrip is not a regulated CFD broker, and does not have a Financial Securities Firm license. Contact phone is in United Kingdom: +442038079391. Customer support email address is: [email protected] . The official website moved from: https://www.MarketRip.com to: https://www.MarketRip.co/.
Trading on Crypto Currency, Shares or Currency is an investment service, at this means they are required to have a license from your governments regulator. The difference between a licensed broker and an unlicensed broker is who will insure your money when the broker goes out of business, read more.
Crypto brokers in England must have a license from the FCA, and Forex brokers in Australia are required to have an ASIC license.
Compare Brokers
You know, you can choose from more than one hundred licensed Forex brokers! Have a look at these popular licensed Forex brokers.
ForTrade is the fastest growing broker, and they are regulated by the FCA in United Kingdom and ASIC Australia, see here.
Try a Free Demo Account on their amazing trading platform, signup here.
We ask current investors at MarketRip, to leave their review in the comments below.