MTFE Trading Review: Another Money Rush in Nigeria?

Metaverse Foreign Exchange (MTFE) is offering investors a chance to make money by trading the financial markets.

The company is offering traders a chance to bet on almost all global financial markets and make money on a daily basis.

The question now is how legit is MTFE Trading, especially in Nigeria?

Are they one of the next big money rush or another forex scam waiting to burst?

In this review, we take a look at what the company is offering its users and the benefits of betting your money with this company.

Stay tuned.

So, What Is MTFE All About?

The company is providing the platform for traders to trade Forex, commodities, indices, stocks and other popular financial products.

They claim to provide the platform, tools, analysis and insights to help traders make responsible and profitable trades in the financial markets.

They claim to be registered in Canada as a Money Services Business with MSB No: M22076570 to provide financial services to professional and institutional clients. They also claim to be regulated by the Canadian FINTRAC. 

How Does MTFE Make Money?

It is not exactly spelt on their website how they make money.

However, from other similar businesses in the industry, these types of businesses make money via commissions from users.

They would usually charge users two-way when they deposit and when they withdraw.

And that’s if they are being operated legitimately.

How to Start Trading With MTFE 

To start trading with MTFE, you have to first install their mobile app from the playstore.

You have to decide which financial market you have the required skills to trade in, then you register, deposit a minimum trading balance and start trading.

How Much ROI Does MTFE Offer?

Realistically, MTFE doesn’t offer any ROI.

They do not even promise that you’d make any money because you are required to trade by yourself and all the risk is on you.

How much ROI you make from MTFE would depend on how skilled you are as a financial trader either in the forex market or in the stock market.

That’s some skills, eh?

Is MTFE Legit or Scam?

With the nature of these types of businesses, it is quite difficult to ascertain their legitimacy.

Yes, they are registered as a Money Services Business in Canada, but that’s not proof that they’ll be legit even if they are recognized legally as a legitimate business.

Their legitimacy would be proven overtime when they have a strong customer base and verifiable partners.

A quick search shows that MTFE was registered on the 1st of October 2022, which means that at the time of writing this post, the company is just 2 months old.

Here are the company’s registration details according to Fintrac Canada:

Registration status of MSB:

Registered

Legal names of MSB:

METAVERSE FOREIGN EXCHANGE GROUP INC.

MSB registration number:

M22076570

Initial date of registration:

2022-01-10

Expiry date of registration:

2024-12-31

Main office or location of MSB:

500-7030 WOODBINE AVE

MARKHAM, ON, CANADA L3R6G2

Telephone number:

(236) 596-5010

Incorporation number:

1360369-5

Date of incorporation:

2021-12-16

Jurisdiction of incorporation:

Federal (Canada)

MSB activities:

Foreign exchange dealing

Money transferring

Dealing in virtual currencies

With this, it is clear that their trust level is quite low until proven otherwise.

So, I’ll advise that you thread carefully with this company.

What I Like About MTFE

The biggest positive about MTFE is that they have a host of financial markets for users to choose from.

You could trade forex, commodities, stocks, index funds, or even cryptocurrency.

You’ll definitely be spoilt for choice, but you need the requisite skills to harness the underlying opportunities and make money for yourself.

What I Dislike About MTFE

From the copies on their website, the company is quite conflicting with their business model.

They are urging users to “grasp investment opportunities” and “become one of the millions investors in the world and invest in global trending products”

But MTFE doesn’t seem like an investment platform to me. So, why are they trying to convince users otherwise?

In my opinion,financial market trading is for professionals who have learned the ropes and know what risk they are taking.

It is not an opportunity for any jack with some money to start betting on outcomes in a bid to make profit.

Can You Lose Money With MTFE?

It looks very likely.

According to MTFE, “you may lose your entire principal” because “margin trading may not be suitable for all investors.”

They admonish all potential traders and investors to “ensure that you fully understand the risks involved.”

Fair enough.

In my opinion, you should only attempt to trade with MTFE if you have the requisite financial trading skills and experience.

Otherwise, I advise that you sit this one out.

Even though MTFE claims to provide demo accounts for users to practice with, it cannot replace the need to having the fundamentals of financial trading skills and experience.

Should You Invest in MTFE?

If you have the right financial trading skills and experience, why not?

If you’ve done your due diligence on the company and are sure of the safety of your capital, then why not?

But while you’re doing so, remember to only trade with money you can afford to lose.

Update: 7/8/2023

Is MTFE AI Trading Profitable?

For those looking to trade on MTFE but don’t have the time, the MTFE AI trading is a feature that gives investors the chance to profit from trading opportunities.

But then the question is, how profitable is the MTFE AI trading robot?

The truth is, the usage of robots in financial trading isn’t new, and the use of AI in many financial trading offers is mostly regarded as a buzzword.

However, AI trading which uses predictive AI has found its place in most financial trading today due to its ability to predict trades without the emotional factor, and its use of large data to predict market trends and help traders make sound financial trading decisions.

So, can MTFE AI trading help traders make more money?

Honestly, the use of AI in financial technology has proven to outperform human-managed trading.

However, according to Bloomberg, AI trading has failed to beat the market in the last 5 years.

For example, the AI powered Equity ETF has performed 50% less than the S&P 500 index in the last 5 years.

So, if you just put your money in most index funds, you’ll likely make more money than trying to use AI to trade the financial market.

Now, back to MTFE.

I believe that if you are a newbie and you really want to trade with MTFE but don’t have time to learn the ropes or even monitor the market, then it’s better that you use the MTFE AI feature.

It’s an automated trading feature that helps you trade from Monday to Friday. All you have to do is simply switch on the AI trading feature every Monday. The AI then closes the trade at the end of the trading week.

The good thing about MTFE AI trading is that it doesn’t trade with emotions, which is the biggest reason why traders lose money.

Also, the AI bot has access to large market data, which it uses to predict trends and make near-accurate trading decisions.

BUT…

But don’t expect the AI robot to be right every time.

So, there’s always a chance that you’ll still lose money trading with MTFE AI. And as MTFE has always warned, you can lose all your money trading on the platform.

So, would I change my mind and start trading on MTFE with the AI feature?

Unfortunately, no.

I still stand by my initial decision that there are better ways to invest my money.

MTFE could help you make some quick bucks, yes, but the fact is, you can still lose money as quickly as you make them on the platform.


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