Market Haven (Markethaven.com) Review: Uniquely Attractive Trading Conditions or a SCAM?

The name of the broker, Market Haven, suggests that the excellent company offers traders uniquely attractive trading conditions. However, upon closer examination, the realization comes: it’s a scam. We intend to substantiate this with information and client reviews available online.

Market Haven General Information

Website	https://markethaven.com/
Phone Number	+441277282822
Email	legal@markethaven.email, support@markethaven.email
Address	None
License	None
Minimum Deposit	$250
Assets	Forex, CFDs
Leverage	Up to 1:300
Trading Platform	Original web trader

Registration and Client Portal Review

The official website of Market Haven falls short of its grand name. To understand this, it’s enough to take a glance at the main menu. In the “Investments Portfolio” section, an unexpected trading platform opens, even without authentication. Meanwhile, the “Brokerage” link, where users would expect to find broker services, rates, and more, leads to a brief essay about the company and contact information.

The impression is that the web development was carried out by individuals who are far removed from trading and financial markets. This is further evidenced by the absence of any useful and essential information on the homepage.

Creating a new client account with Market Haven is quite straightforward. To register, you only need to fill in a few fields: last name, first name, country of residence, and contact information. Additionally, you must confirm agreement with the Terms & Conditions, confirm non-residency, and lack of tax obligations in the United States.

Immediately after this, the client’s workspace opens. It’s worth noting that no email or phone number verification is required during registration.

The trading terminal is the first thing that loads, granting access to the user’s profile. Reputable brokers, genuinely concerned about the security of client accounts and data, use separate accounts for the Personal Cabinet and the trading platform. However, Market Haven disregards such a prudent approach.

The client’s profile lacks certain functions familiar to traders. Here, one can edit personal information and security settings, enter cryptocurrency wallet details, and fund their trading account. Viewing and analyzing the history of non-trading and trading operations is not provided.

Describing the functionality of the client area as user-friendly is quite challenging.

1. To fund your account, you need to contact customer support each time for payment recipient details.
2. Only a real trading account can be opened. The broker does not provide educational or demo accounts.

Market Haven Trading Conditions

Traders can choose trading conditions that best suit their level of experience and deposit size. The broker itself places a significant emphasis on the volume of informational services, which expands as the account balance grows.

Account Types

For traders with varying levels of experience and deposit sizes, Market Haven has prepared 6 types of accounts:

• Litecoin.
• Ethereum.
• Bitcoin.
• Pro Bitcoin.
• VIP Bitcoin.
• Rockefeller.

Combining the names of cryptocurrencies and the name of a billionaire who has consistently opposed their use requires quite an imaginative mind. However, the broker doesn’t seem to be lacking such creative individuals. They are fully active in this regard.

1. While most brokers reduce leverage as the deposit size grows, Market Haven takes a different approach by increasing it. For the Litecoin account, the leverage is set at 1:100, for Ethereum it’s 1:200, and for Pro Bitcoin it’s 1:300.
2. As the account level (read: deposit size) increases, more analytical materials become available. For instance, the owner of a Pro Bitcoin account gains access to a professional dictionary, an economic calendar, and a market news feed. Presumably, this luxury requires a balance of $50,000. Other traders may have to make do with the free versions offered by hundreds of specialized websites.
3. As for the VIP Bitcoin and Rockefeller super accounts, specialists don’t disclose the details. It’s evident that they fear a rush of clients eagerly transferring $100,000 and $250,000, leaving them with nowhere to put such vast sums.

On a more serious note, the differences in conditions between accounts like Litecoin and Pro Bitcoin seem comical considering the 200-fold difference in deposit sizes. It appears that even project owners doubt they’ll find many willing to part with $50,000 or more.

Trading Platform

Market Haven’s proprietary trading platform, designed in-house, may look better than it performs. Its bugs are bound to become traders’ headaches, as they inevitably lead to swift deposit losses. Among the main drawbacks of the platform are:

• Working with a single-window for price charts.
• The need to reconfigure chart displays each time upon platform entry.
• Terminal reloading every 10 minutes (interval not adjustable).

All of this leads to time wastage when opening and closing positions. The outcome for traders is either missed profits or outright losses. However, it seems content with this, as customer losses translate into pure broker profit.

Market Haven — Deposit and Withdrawal of Funds

The FAQ page on the official website states that funding and withdrawals can be done through various methods:

• Card-to-card transfers.
• Bank transfers.
• Electronic wallet transfers (payment systems are modestly omitted).

However, it turns out that these are just words; reality is somewhat different. To perform non-trading operations (deposits or withdrawals), users need to do the following actions.

1. Enter their Bitcoin ID into the system (the public key used to receive transactions on a Bitcoin wallet).
2. Generate a wallet number on the Deposit page, which the user will constantly work with. Cryptocurrencies BTC, ETH, USDC, and USDT ERC-20 are accepted.
3. Send the coins to the chosen wallet and wait for the transaction to complete in the selected system.

However, it’s not as straightforward as it seems. Before proceeding with the operation, it is advisable to contact support and clarify the transfer parameters.

It’s extremely intriguing, but there is no mention whatsoever in the Personal Account about funding and withdrawals using cards or bank transfers. This clearly illustrates the level of trust one can place in the information posted on pages.

Verification

In the Personal Account, we were unable to locate any forms for submitting documents for verification. As it turns out, in the Terms & Conditions, the broker states that it may conduct verification to confirm registration details.

Upon request by company representatives, clients may need to provide copies of documents verifying their identity, address, and chosen payment method (it’s interesting how this works for cryptocurrencies). Additionally, staff may request a personal contact confirmation through video or audio conferencing.

Attention! Market Haven may require notarized or otherwise certified copies of documents! This is nearly a foolproof way to prolong the withdrawal process for months.

Additional Options

Like most brokers, Market Haven offers some additional services. First and foremost, this includes informational support throughout the trading process. Traders are offered:

1. Market analysis, frequency depending on the deposit size.
2. Education for “esteemed” clients (with an account of no less than Bitcoin).
3. Development of trading strategies, and more.

In reality, as the client’s deposit size increases, they receive a rather useless set of services and materials instead of genuinely valuable benefits. These materials are freely available to anyone online. Particularly amusing are the 2, 20, or all e-books, presumably created by own specialists. It seems they genuinely believe they can compete with truly useful books by authors like Ralph Elliott, John Bollinger, Alexander Elder, Bill Williams, and others.

The list of additional options also includes:

1. Debit card ordering. We realized that obtaining it is impossible since an account of at least a Standard level is required for this. What is meant by this level is not explained.
2. Referral program. Here, it’s simple – invite friends and receive 10% of the amount they deposit. The amount of additional earnings is capped at $25,000, and the referred friend’s minimum deposit must be at least $1,000.

Is Market Haven a Scam?

The official website and client area provide a reason to believe that the project is yet another scam that cannot be trusted with money. The official information about the company turns this belief into a firm conviction.

Legal Information and License

Neither on the website nor in the documents there is no information about the company’s place of registration. The only clue is a contact phone number in the United Kingdom.

Upon searching the Companies House, there is a single match – the company Market Haven Ltd. However, this is an advertising agency.

In the Terms & Conditions text, there is a mention that the agreement is made in accordance with the laws of Saint Vincent and the Grenadines (as written in the document). However, there is no mention of Market Haven in the registry of the local regulator SVGFSA.

We draw the conclusion – the broker is not registered. Consequently, it will not obtain a license anywhere and operates illegally.

Markethaven.com Domain Info

Checking domain information can provide a lot of useful insights, such as revealing the time a project like Market Haven has been active online. The domain markethaven.com was registered as far back as 2008.

However, according to web archive data, it was listed for sale at least until the end of 2022. Judging by the updated date, it was purchased and put into operation no earlier than June 22, 2023. That’s precisely the amount of time – a couple of months – this “broker” has been operational.

Contacts Review

The communication setup for users to reach representatives is also disappointing.

1. The Personal Cabinet does not have this function (clicking the provided link redirects to the ContactUs page on the website).
2. The broker does not provide any physical mailing addresses.
3. The promised chat feature has not been implemented.

As a result, addressing inquiries can only be done via email (2 addresses), a non-responsive phone number, or by submitting a request through a feedback form.

The speed at which responses will be received is unknown. It should be understood that expecting prompt issue resolution from such an organization is not advisable.

Pros and Cons

Frequently Asked Questions (FAQ)