At first, when we saw the name McGregor Trade, we thought it’s some kind of a joke. But no, the company is very real, as well as complaints against the broker.
Offshore and blacklisted. Is broker regulated? Of course, not. However, we did our job, and here is the result — McGregor Trade review for you.
|Broker status:||Offshore Unregulated Broker|
|Regulated by:||No Regulation|
|Headquarters Country:||Marshall Islands|
|Types of Assets:||Shares, Commodities, Indices|
|Free Demo Account:||No|
|Accepts US clients:||No|
Regulation and Security
As mentioned, the broker is based offshore, in the Marshall Islands. This shady brokerage did not list a company owner, the register where they are listed, or anything similar. Even offshore brokers need some kind of regulation for their business.
What’s Wrong With broker Regulation?
We’ve checked the register of FSC Marshall Islands looking for McGregor Trade regulation. However, the broker is not listed there, which means that it’s operating illegally.
Warnings From Financial Regulators
We’ve checked other financial registers to see if any regulatory body issued a warning against McGregor Trade. The Austrian FMA issued a notice stating that the broker is not regulated and operates illegally in Austria.
Also, they invited everyone scammed by this broker to file a complaint about the broker.
What Are Trading Platforms Available?
The only good thing we have to say is the broker trading platform. It’s an MT4 trader, a trusted platform with many features.
However, if you tried to download the platform and test it out, you won’t be able to. There is no Demo account, and you will get an error.
The maximum leverage this broker is offering is 1:50, which is better than some scam brokers we’ve seen. It looks like McGregor Trade broker is trying to lay low.
What Can You Trade With This Broker?
Surprisingly, broker does not offer forex trading and cryptocurrencies. The only available assets are commodities, indices, and shares. This is a pretty strange and limited offer comparing to other regulated brokers.
When it comes to the minimum deposit, it’s $500. Too high for an offshore scam company.
According to everything we’ve seen throughout review, this broker is running a cyber fraud.
Scammed by McGregor Trade broker? What to Do?
What to do if you get scammed by this or any other broker out there? There is a possibility to get your money back. You need to file a dispute and request a chargeback.
Unfortunately, you are not the only victim of the McGregor Trade scam. Many people had withdrawal issues with this company.
Have you had any problems with McGregor Trade broker – File a Complaint Today! Our support team is waiting on the chat to assist you!
What is McGregor Trade?
It is an online trading platform based in the Marshall Islands, operating without a license.
Is McGregor Trade regulated?
McGregor Trade is a broker not regulated by any regulatory body.
Is my money safe with McGregor Trade broker?
Since the broker is offshore and not regulated, your money is definitely not safe with McGregor Trade.