motto fx review

Read our Motto FX review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a mottofx.com review.

Who are they?

After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.

So Motto FX is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.

How does it work?

Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.

Withdrawing funds

You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.

How to get your money back?

If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.

The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.

What about wires?

If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.

Make sure you leave reviews about Motto FX in other sites

Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.

Motto FX Review Conclusions

Making the Motto FX review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Motto FX review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected]
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

REVIEW OVERVIEW
motto fx review
motto-fx-review-mottofx-com-is-a-scamRead our Motto FX review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a mottofx.com review. Who are they? After taking a look at their website, it shows that they do not fall under any regulating...

11 COMMENTS

  1. I have been claiming my capital to Motto Fx for a week and until now I have only received lengths. I put an email and a certain Mia Cooper answered me indicating that my withdrawal request had to be reviewed by her financial department and that they had five days to make the deposit: today, June 13, I see with surprise that my account balance has practically disappeared with a series of correction notes and that my request has been rejected.

  2. I believe that I have been scamed by mottf
    I will be trying to get my money back this week
    I felt uncomfortable when they changed my money into rubble charging me £30 .

  3. Hello all
    I too became wary about the change of money to roubles. I have spoken to them and emailed. Now they say they can’t action anything because my account manager is ill.
    They also said the company is based on canary warf. They pressed for more money which apparently would be fine to deposit more but not withdraw.

  4. MottoFX stole my money. I was initially very happy with MottoFX until I tried to withdraw some of my profit on 17 July 2020. After a week, I was told it was “approved” and had been sent to my bank 24/7/20. Since it was a SEPA transfer it should only have taken a day or so, after a week it had not been received. I tried to find out what had happened and was told that no details would be provided for 15 business days. after 3 weeks it had still not appeared and I spoke to my bank who said if it had been sent it would have been received by then. I tried to get a copy of the transfer to check if the account details were correct. I was told my financial advisor would ring me asap. That did not happen. over 20 emails later and now more than 2 months and I got one phone call to give them 24 hrs to check it out. I still have no copy or details of the transfer and nor has my bank. ALSO, the trading on my account stopped when I tried to withdraw some funds. Despite excellent trading circumstances, nothing has happened in the last 2 months. Despite every couple of days being told my “financial advisor” would call, they have not. Basically, my money 10,000 euro and supposed profit has been stolen.

    Rating: 1
  5. I am a victim of the fraudulent trader MottoFX, I keep my deposit documents and email with them, which it can proof that they acted without any authority to my account, and totally ate up GBP20,000 from my account in a week while I made the withdrawal request.

    Would any agent or associate can help me on getting back my deposit? I have presented my case to HK police and Banker in HK but they couldn’t provide help on this regard, the banker said they could do the charge back as it passed two months from the deposit made.

    I would like to know if there is Any help can provide on submitting a valid charge back to MottoFX? thank you very much…

  6. Do not touch these people with a barge pole. They are scammers pure and simple.
    Having looked at their website I was tempted to dip my toe in and put in the statutory £250. The initial results were so ridiculously stellar that I quickly became dubious about this fraudulent operation and attempted to make a withdrawal. This process proved to be impossibly labyrinthine, meanwhile the returns had dwindled to almost zero meaning there was no money to withdraw!
    More fool me for getting involved in the first place and fortunately my loss was a small one.

  7. I lost 10,000 euro. the money shows on the account but you cannot get it. they say it has been sent but it never arrives and they will not send you any details of the transfer for you to trace. my account got to 50,000 but I could not access one cent. All lies

  8. I too was taken in by MottoFX over a year ago when I decided to pay in £250 however became suspicious when I was charged for currency changes which were never mentioned. I do not have a passport and my driving licence is without a photo currently however that should have been requested before taking any payment! I was reluctant to send my bank statement etc as proof of who I was however my manager had said not to worry!! That was a laugh, however after requesting return of my £250 many times due to not having photo ID and still getting emails requesting them, I had decided that all the stress from a small investment was not worth it and under guidance from my bank did not reply to them as there was no way I was wasting more time. I do not believe they are based in London for one moment and sure they operate from probably Russia as they all seemed to have Russian names. My friends solicitor daughter lives in London and I will ask her to check and see if they have ever operated in London? All I can say is that I have learned from my small loss a valuable lesson and never to deal with anything online again. I am so annoyed as it was one of those annoying adverts that pop up while you are emailing and had I not noticed it then I would never have become interested in such a dodgy investment! Others beware and stay away from this company!

  9. I lost all my money deposited 311000 gdp
    All gone got my account up to 5.5 million asked for a withdrawal they lost it all in 1 week told them not to trade out of 90 trades they lost on 88 of them total scam
    Rang & said sorry lost it all I have lost everything don’t use them scammers

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.