✔️ Information reviewed and updated in April 2024 by Eduardo López
IS Magnum trade RELIABLE? OPINIONS
CONTENT
- 1 IS Magnum trade RELIABLE? OPINIONS
- 2 ℹ️ BROKER DATA:
- 3 📞 LIST OF PHONE NUMBERS:
- 4 💰 DEPOSITS AND ACCOUNTS:
- 5 🌐 WEBSITE – WEBSITE:
- 6 ⭐ OPINION OF Magnum trade:
- 7 💬 WHAT TO THINK OF A COMPANY LIKE Magnum trade?:
- 8 📣 LATEST UPDATES:
- 9 ✔️ CLAIM MONEY FROM Magnum trade:
- 10 🚨 REPORT Magnum trade:
- 11 ❓ FAQS – FREQUENTLY ASKED QUESTIONS:
In this post I will analyze Magnum trade. Is it the CFD broker on forex, metals, energy, raw materials, indices, stocks and bonds Magnum trade (with magnumtrade.io website) really reliable? Is it safe to invest your money with this company? I will examine this company in detail.
I will explain to you why I think Magnum trade is an UNSAFE company AND I CONSIDER IT TO BE UNRELIABLE. BE CAREFUL WITH THIS KIND OF COMPANIES!
ℹ️ BROKER DATA:
Here are two things that I would like to highlight, (1) the first thing that is important to know is about its regulation and (2) the second is the location of the company. These are two data of vital importance to be able to measure the seriousness and reliability of a company.
Does the company have no regulation or is it regulated by an unserious country? Is the company located in an unreliable place or does it not mention where it is located? These are questions that every investor should ask about the reliability of the company.
| Information | About the company |
|---|---|
| (I.e. Company | Magnum Capital Management |
| ???? Direction | Mentions being located in Luxembourg |
| 📄 Registration | Not mentioned |
| 🛡️ Regulapain | Not mentioned |
| ️ ️ Phone | Does not have |
| [email protected] | |
| 🌐 Website | magnumtrade.io |
| ???? Live Chat | No |
| 💳 Payment methods | Not mentioned |
| ❓ Company type | CFD broker on forex, metals, energy, raw materials, indices, stocks and bonds |
📞 LIST OF PHONE NUMBERS:
The company does not mention any contact telephone number. The lack of means of contact makes me a little nervous. It is not normal.
💰 DEPOSITS AND ACCOUNTS:
Here is a small analysis of the types of plans/accounts that Magnum trade offers; They are divided into 6 plans/accounts. Here is a table with a little more information about minimum deposits by type of plan/account.
| TYPE OF plans/accounts | MINIMUM INITIAL DEPOSIT |
|---|---|
| TRIAL | $250 |
| CLASSIC | $3000 |
| GOLD | $25,000 |
| PLATINUM | $100,000 |
| VIP | $500,000 |
| PRESTIGE | $1,000,000 |
🌐 WEBSITE – WEBSITE:
Below you will see the company's website and a small analysis about the website:
- Age of the website: the domain “magnumtrade.io” was registered on June 27, 2023. That is, it is a website that is not very old. 🚩
- The website mentions which company it belongs to, but I have not been able to find “Magnum Capital Management” in the company records. I think it may be a fake company. 🚩
- As I mentioned before: the company does not mention being regulated, which makes me think that it is an unregulated company. 🚩
⭐ OPINION OF Magnum trade:
After having carried out an analysis of the company, I have come to the following conclusions:
1) The company mentions being located in the UK, but I think they are trying to mislead about their location. I recommend extreme caution.
2) The company does not mention being regulated or anything about its regulation. I understand that it is a UNREGULATED company.
3) I think the company has very little seniority or history. As I mentioned, I was able to check that the domain “magnumtrade.io” was registered on June 27, 2023. It is very recent.
4) The company has a very bad reputation on the internet, I have already been able to find customer complaints.
5) The company has been reported by the following financial regulator(s): BCSC,British Columbia Securities Commission. It is a very unsafe company, be careful.
“To be honest with you, I would not invest in this type of company: it is not regulated. He mentions belonging to a company Magnum Capital Management which apparently is a fake company. I honestly cannot recommend a company of this type.”
💬 WHAT TO THINK OF A COMPANY LIKE Magnum trade?:
Magnum Trade, an investment broker, presents a number of red flags that investors should be aware of before considering any type of financial commitment. First of all, the claim of being located in Luxembourg appears to be false, raising questions about the honesty and transparency of the platform from the beginning. Furthermore, the lack of information about the company that owns the broker generates uncertainty about its legitimacy and its commitment to transparency.
The absence of mentions of regulation and the lack of real data available endanger the security of investors' funds. Without regulation, investors are left unprotected and exposed to potential unethical trading practices by Magnum Trade. The presence of complaints and bad comments from dissatisfied customers on the internet is another worrying sign that indicates possible problems with the quality of the services offered and customer service.
Magnum Trade's recent age adds another level of caution, as lack of experience and track record may increase risk for investors. Finally, the complaint from BCSC regulator, the British Columbia Securities Commission, confirms concerns about Magnum Trade's lack of regulation and potential unethical practices. Together, these red flags make Magnum Trade an extremely risky broker that investors should avoid.
📣 LATEST UPDATES:
1) Update April 2024: la BCSC, British Columbia Securities Commission, has reported Magnum trade.
✔️ CLAIM MONEY FROM Magnum trade:
If you have been scammed, then I explain, in my opinion, one of the most effective methods to recover capital. If you do it on time and with a serious company, it is highly effective.
We work with a capital recovery service. here you can recover your capital.
In a few words, we use the chargeback method or capital withdrawal, with this method what we do is ask the bank or Visa, or Mastercard (depending on how we send the money), to return our capital, since we have been scammed. In order to recover it, we have to prove that we have indeed been scammed.
If you have been scammed, it is the option that I recommend, we work with a totally serious and safe capital recovery company.
🚨 REPORT Magnum trade:
If you have been scammed by this company and you want to report it, I think the best option is to contact the financial regulator of the country where you live. Report what happened to the regulator. Here are some examples of financial regulators by country:
🇦🇷 Argentina: the financial regulator is CNV, here you can get in touch
🇧🇷 Brazil: the financial regulator is CVM, here you can get in touch
🇨🇱 Chile: the financial regulator is CFM, here you can get in touch
🇨🇴 Colombia: the financial regulator is the Financial Superintendence, here you can get in touch
🇪🇨 Ecuador: the financial regulator is SUPERINTENDENCE OF BANKS, here you can get in touch
🇪🇸 Spain: the financial regulator is CNMV, here you can get in touch
🇺🇸 United States: the financial regulator is FINRA, here you can get in touch
🇮🇹 Italy: the financial regulator is CONSOB, here you can get in touch
🇲🇽 Mexico: the financial regulator is CNBV, here you can get in touch
🇵🇪 Peru: the financial regulator is SBS, here you can get in touch
If your country is not on the list, leave a comment and I will gladly help you!
❓ FAQS – FREQUENTLY ASKED QUESTIONS:
Magnum trade appears to be an investment broker that offers a wide range of financial instruments, including CFDs on forex, metals, energy, commodities, indices, stocks and bonds.
In my opinion it is, I think it's a scam. Taking into account different characteristics of this company, I must qualify it as a very bad and very unsafe one.
Magnum trade is a company that I consider NOT RELIABLE. It has characteristics that make it a very unsafe company: be very careful.
If you have lost your money or been scammed, I recommend you try the capital recovery service.
If you want to know a safe and reliable company, I invite you to see the ranking of best brokers and you can also check the 3 best brokers of the month.
A friend invested, I'm scared, I don't want to lose my savings or get scammed. do you have information? Thank you so much!.
Hello Ari, Magnum trade is a SCAM, we are receiving many complaints from investors, they do not return the money, they should never invest in a broker without REGULATION.
They create positive comments of their own to confuse investors and pose as a serious and legal company but everything is invented and if you mention our review they say that we are the competition and that is not true (we only do reviews of brokers).
When you request a withdrawal of capital or benefits, if they make excuses and force you to pay commissions or another type of ransom, you will know that they are scamming you, do not fall into that trap, those commissions are not real, they try to take more money from you.
If you want to recover the money you can do it from the CHAT on our website or by filling out the form at this link: Get your money back, we are with you
Greetings.