Read our Medco Finance Limited review to see if we recommend this broker for trading. Just to clear doubts, this is a medcofinance.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 Medco Finance Limited 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
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 Medco Finance Limited 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. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Medco Finance Limited Review Conclusions
Making the Medco Finance Limited 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 Medco Finance Limited 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] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Biggest scam in the wold … make sure you not invest your money with this company!
FRAUD! In one word! They promise you millions and will tell you “how does the future millionaire feel”. Just to deposit more money! To withdraw money from your Medco account, you need to deposit the same value into your account, e.g. Revo… (this is one of the withdrawal options) to make a “mirror money transfer” (after talking to Revo… this method of transfer is considered money laundering” So once you’ve deposited all your savings into your Medco finance limited uk account (and that’s what hungry experts are asking you to do), you’ll have nothing on your account and you want to withdraw the money you’ve earned, you won’t be able to afford to withdraw it! !! Such a millionaire you will be! And the next two withdrawal options are a parody! Bank of Cyp… for each amount withdrawn you have to pay about 33% of the value from your pocket. So if you have £10k-11% commission on your account, simple calculation! almost 50% of your deposit! So if you would like to withdraw your deposit the next day for any reason, you have already lost 44% of your money! as tax fraud! No control over the money you earn! Because the payment must be approved by an expert and an accountant. You can’t just withdraw your money whenever you want! you have to ask for it! The third option is to pay tax, which the accountant does not recommend for obvious reasons like tax fraud, so they only give you 2 options.
There is one more thing worth mentioning, namely the “webinar for the poor”, in which the host urges the “poor” to take a loan! Then the expert suggests you take 30-50k£ and if you are wondering because you are not sure it starts to rule! “And he says that you are wasting his precious time” just like Mr. Markus my expert! The account is billed once a year! If you would like to withdraw from Medco services earlier, even if you paid £ 100, it costs £ 500 to close your account and if you do not pay, they will threaten you with special services, court and I was threatened with deportation!!! after which they will ignore your emails and any contact attempts (great experts won’t tell you about this when you create an account, they are only interested in the money you have!). If you would like to start with a small investment and work your way up, you are not profitable for a hungry expert and Medco. Your money, savings, loan from which you were persuaded and more in my eyes forced is not safe in their hands. In the end, it will turn out that you are a tax fraudster and you launder dirty money. The only winning earner millionaire will be Medco and you will be left with a loan to pay off. So learn from someone else’s mistakes and don’t let yourself be DECEIVED!
(1/5)
Scam, scam, scam
I have no words left together with empty savings and no way of getting money back
(1/5)