The forex industry is full of scammers hiding behind false promises and guarantees, such as long operating history, professional teams, and having licenses. The subject of our MMCMarkets review is precisely one of these firms. Is it true that the broker has been in business for 10 years, or is this just another myth? Let’s find out.
Key Features
- Company Name: MMCMarkets
- Website: https://mmcmarkets.com/
- Available Contacts: [email protected], +61-261682448, +46-303309045, +31-97010267167
- Foundation: 2024
- Services: CFD Trading
- License: No
- Initial Deposit: €250
From Sign-Up to Payout
We’ll start our MMCMarkets review by taking a look at the official website. Right away, it’s clear that the site looks dull and cheap. The chosen font seems bulky and heavy, especially in combination with the other design elements. It visually overloads the page and looks inappropriate for a broker’s site, where neatness and trust are key. The background and design elements are overwhelmed with dark colors, making the site hard to digest.
The texts are filled with clichéd phrases such as “Winning Is In Our DNA” and “Invest first and spend what’s left”. These statements add no value and provide no concrete information about the company, its achievements, licenses, or real benefits for clients. The site lacks information that would help traders make informed decisions. For example, instead of real data about regulation, platforms, and trading instruments, we see only vague phrases like “Safety & Reliability”, which are not backed up by specific facts.
The images on the MMCMarkets website are typical stock photos that have no direct connection to the broker’s operations. For example, the homepage shows stock charts and prices, but it looks like a standard “stock market” picture that gives no insight into the company’s platform or the actual trading process. All the visual elements seem generic, lacking any originality.
The website looks standard and outdated, with generic fonts, template images, and vague phrases. It’s hard to give a high rating to such a brokerage platform.
The registration process is typical, but the choice of countries is limited to just two options: Australia or the United Kingdom. What about other countries? Does the firm only accept clients from these jurisdictions?
In the personal account, all the basic functions are available: verification, fund and account management, and information on balances and positions. Nothing special or unique.
MMCMarkets requires mandatory identity verification, without which trading restrictions may apply. The KYC procedure is typical for brokers, but we strongly advise not to rush into providing documents until you thoroughly investigate the broker. Your personal data could end up in the hands of scammers.
Money transfers are possible via Visa/Mastercard — their logos are listed in the “Deposit” section. However, the site also mentions bank transfers and cryptocurrency.
Our Trading Experience With MMCMarkets
The official website claims to offer two platforms: an in-house developed terminal and the Singularity-360 Webtrader. However, in the personal account, there is no choice — only a basic web terminal opens, which is likely unfamiliar to experienced forex traders. No alternatives like the popular MetaTrader are offered.
MMCMarkets describes its platform as professional and advanced, but an objective analysis shows this is far from true. Essentially, it’s a primitive web platform. Yes, it supports pending orders, basic technical analysis with indicators, a news feed, a forex screener, and a heatmap. However, more advanced tools are nowhere to be found.
The platform does not support the upload of custom templates and settings and lacks auto-trading and copy-trading capabilities. Moreover, the platform has no mobile or desktop versions, further limiting its use.
The Reality Check
What signs point to possible fraud by mmcmarkets.com? Let’s take a closer look. In the footer of the official website, the legal name “Fortgate Offshore Investment and Legal Services Ltd” is listed, registered in Saint Lucia. This is indeed true — a registry check confirmed it. However, it raises suspicions that this legal entity appears to have no connection to that firm. Why does FOILS have its own website, fortgateoffshore.com? Moreover, this company engages in entirely different activities, not brokerage services, which looks extremely suspicious.
We also checked the jurisdictions of Estonia and Saint Vincent and the Grenadines. This is important because the user agreement states that the broker operates in accordance with the laws of these countries. However, MMCMarkets was not found in either country. Could the document have been stolen or copied?
All of these factors are serious indicators of fraud. It’s especially worth noting the lack of regulation. Any legitimate and reliable broker must be under the supervision of a financial regulator. In this case, there is no oversight, making the company’s operations illegal.
How Long Has MMCMarkets Been in the Game?
Does anyone really believe in this company’s claim of 10 years of experience? We certainly couldn’t. One of the most reliable ways to estimate a broker’s operating time is to check the domain registration date. After all, a forex dealer can’t function without an official website, right? The domain mmcmarkets.com was registered just a couple of weeks ago — on September 24, 2024. This is a completely fresh scam. There are not even close to 10 years of experience, and this platform hasn’t even been around for a full year.
Extra Fraud Indicators
In addition to the short operating period, lack of a license, and legitimate legal address, there are other signs that MMCMarkets is a scam.
First, the lack of reviews online. This isn’t surprising since the platform launched less than a month ago. How could it have accumulated any comments? Second, the huge leverage of up to 1:400 — a clear sign of the absence of regulation by reputable financial commissions. Keep in mind that authoritative regulators prohibit brokers from offering leverage higher than 1:30.
Another less obvious sign of a scam is fake contact information. The email is fake, and the phone numbers are linked to another fraudulent company. It appears that the broker is a new project from the same old scammers. We checked their phone numbers, and here’s what we found.
In the screenshot, you can see that Google links the same contact numbers to another fraudulent firm — Apex360. Their website is no longer active.
Is MMCMarkets the Right Fit?
We strongly advise against getting involved with this brokerage company. This is likely just the rebirth of an old scam under a new name. Even if that’s not the case, the broker is unlicensed, provides fake information, its operating period doesn’t match reality; its trading conditions are unfavorable, and legal documents are absent. MMCMarkets is a clear example of a fraudulent and illegal broker.
A week ago, I invested 400 euros in this brokerage company. I genuinely believed it was a legal and safe broker until I tried to withdraw my funds. I managed to make an additional 200 euros on the first day. And that same day, I submitted a withdrawal request. However, it still hasn’t been processed. The scammers at mmcmarkets are ignoring me and refuse to return the money. I recently found out that this is a new scam broker with no reputation. The claim of 10 years in business was just a fabrication. The company operates illegally and unethically. They don’t care about the well-being of their clients. They steal money. And they stole my 400 euros. Yes, it’s a small amount, but it’s still money.