Medco Finance Limited promises clients an exciting trading experience. As always, the broker claims that it compares favorably with its competitors. However, we can’t believe it just like that. Therefore, we will conduct a thorough study of its proposals and the legality of its activities. And we will also read the reviews of traders to make sure that this is not a scam.
- Medco Finance Limited General Information
- Registration and Client Portal Review
- Medco Finance Limited Trading Conditions
- Account Types
- Trading Platform
- Medco Finance Limited — Deposit and Withdrawal of Funds
- Additional Options
- Is Medco Finance Limited a Scam?
- Legal Information and License
- Medcofinance.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Medco Finance Limited General Information
|Address||Sweetwood Drive Street, Boulder, Colorado 80302|
Registration and Client Portal Review
Medco Finance Limited begins acquaintance with users with very loud statements. All content on the official website consists of enumerations of the broker’s advantages. However, we did not find anything special in its proposals. For example, the broker assures that one of its advantages is the presence of support that speaks 20 languages. However, for some reason, the content on the site is translated only into English and Polish.
On the eve of the Christmas holidays, the broker posted a beautiful and atmospheric animation on the platform. That’s just it’s time to meet spring. We wonder how often there are updates on this site. There are also annoying mistakes here. So, for some reason, the AML policy is called “Ani-Money Loundery”.
Creating an account on the Medco Finance Limited platform is an absolutely standard procedure. The client will need to fill out a small form and specify:
- First and last name
- Phone number
- Country of residence
- Account type.
Unfortunately, Medco Finance Limited does not care about the safety of users. The account is protected only by a password. The creators of the platform apparently haven’t heard of two-factor authentication.
In the Client Portal, you can fund your account, pass verification, or create a withdrawal request. Also, there is the possibility to track financial transactions and go to a trading terminal.
Medco Finance Limited Trading Conditions
Medco Finance Limited offers standard CFD trading. The broker has several types of accounts to choose from, with slightly different conditions.
Medcj Finance Limited claims that it gives its clients competitive advantages, including low spreads, good liquidity, and fast order execution. Account types differ in the amount of the minimum deposit and the package of services.
|Account Type||Deposit, EUR||Number of instruments||Insured transactions||Special services|
|Gold||200,000||300+||15||Access to the reserve fund, bonus 70%|
Depending on the market, Medco Finance Limited has a fixed or floating spread type. Each client can communicate with a personal manager, has several insured transactions, and has access to analytics. VIP account holders can receive compensation from the company’s reserve fund.
Obviously, the trading conditions of Medco Finance Limited are not very favorable. The minimum deposit does not seem to be very high, but at the same time, it will simply not be possible to trade normally in a Beginner account. A total of 9 currency pairs is not the number that the trader expects to see. Most normal licensed brokers have a single account where all trading assets are available at once, and the deposit requirements are even less.
To trade, the broker offers its own terminal. Medco Finance Limited claims that the platform is suitable for both beginners and market professionals. Meanwhile, it’s a typical Web Trader without any special features. The broker doesn’t provide an app for smartphones or PCs.
Medco Finance Limited — Deposit and Withdrawal of Funds
You can fund your account in one of the following ways:
- Credit/debit card
- Wire transfer
- Qiwi wallet
Medco Finance Limited warns that it does not accept funds from third parties. The sender’s name must match the name specified as the account holder. As for withdrawal, you can use the same payment methods.
You can upload documents for verification directly in your Client Portal. The broker does not require anything non-standard. You will definitely need to confirm your identity and place of residence. It may be necessary to upload a photo of the credit card and bank statement, or some other documents at the discretion of Medco Finance Limited.
The company offers two options: become a broker representative or build an affiliate network. However, this is all that can be learned from the section describing the affiliate program. Neither the detailed conditions nor the number of rewards for inviting referrals are disclosed.
Is Medco Finance Limited a Scam?
Lack of information, unfavorable trading conditions, and too little data about the management company are just a few problems of this broker. It is curious that Medco Finance Limited does not report almost anything important about itself. However, we will find the truth.
Legal Information and License
Medco Finance Limited positions itself as an English broker. However, all British brokers must have a financial services license from the FCA. There is no such company in the register of this regulator. By the way, based on the fact that the second language on the site is Polish, just in case we checked how things are with Polish documents. And even here we had a setback. The Polish Financial Supervision Commission also did not issue any licenses to Medco Finance Limited.
Medco Finance Limited has not received a license. Moreover, it is not registered in the UK either. Rather, the «broker» we are currently considering. In fact, it just pretends to be this company. The Medco Finance Limited firm has a net worth of only 170 thousand pounds. It provides financial intermediation services that do not require a license. And the legal address in the profile is completely different.
Medcofinance.com Domain Info
There are quite a few reviews about Medco Finance Limited on the Internet. This suggests that the company, in principle, does not work for long. However, in the register, the date of its incorporation is 2010. Usually, during this period of work, brokers manage to make a name. However, it is possible if they are real. Domain check showed that the Medco Finance Limited website was created in September 2022. It turns out that the broker worked not so long ago.
The broker offers to contact support by phone or via email. It’s very funny. We checked the phone number and found out that the same number is indicated in the contacts by another broker. Its name is GCB London. And here’s a surprise, this is another scam. It’s even blacklisted by the FCA.
Impersonating another legal entity is one of the most popular schemes. It has become especially popular recently. At the same time, English and Australian companies suffer the most. It’s just that the registries of these states are open and it’s quite easy to find a suitable legal entity there.
However, Medco Finance Limited is more than a one-time project. It is a whole series of similar scams. Among them are Medifinance, MWC Trading, Mondial Investments, GCB London, and dozens more similar scams. They even look almost the same. Not to mention the legend. And apparently, their creators are not going to stop.
Pros and Cons
- Several account types.
- Affiliate program.
- A short period of work.
- Fake legend.
- No registration.
- No license.
- Unfavorable trading conditions.
- Negative reviews.
Frequently Asked Questions (FAQ)
On this platform, you can trade CFDs. The broker also offers you to earn extra money in the partner program.
According to the terms of the Medco Finance Limited agreement, the minimum deposit is not big, only 100 euros.
It is better not to contact Medco Finance Limited, so as not to regret it in the future. The scammers have fake documents. It will be quite difficult to find and demand your money back.