Milton Markets claims to offer the best trading conditions in the market. However, we have serious doubts about the broker’s credibility. Is it a scam? Or can you safely invest here? See the results of our investigation in a short review.
- Milton Markets General Information
- Registration and Client Portal Review
- Milton Markets Trading Conditions
- Account Types Review
- Trading Platform
- Milton Markets — Deposit and Withdrawal of Funds
- Additional Options
- Is Milton Markets a Scam?
- Legal Information and License
- Miltonmarkets.com Domain Info
- Contacts Review
- More details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Milton Markets General Information
|Address||First Floor, First St. Vincent Bank LTD Building, James Street, Kingstown, St Vincent and the Grenadines|
Registration and Client Portal Review
The Milton Markets official website is poorly designed and lacks originality. Additionally, there is an issue with languages. The language panel only features English and Japanese, while the chat inexplicably operates in Japanese. However, the presence of legal information is a plus.
We can’t find any more virtues. There is little information about the company. Besides, there are practically no contacts. It seems to us that a trustworthy and transparent broker should take a more serious approach to fill out the official website.
The registration process is not time-consuming. You need to provide some personal information and contact details, including email and phone. The broker will send an activation link to your email. Click on it to get access to your account.
The Client Portal is relatively standard. It offers basic functions. Here you can make financial transactions, upload documents, or download a platform. However, none of these options will be available until you pass verification.
Milton Markets Trading Conditions
Milton Markets claims to offer the best trading conditions, but we have serious doubts about this.Therefore, we will check on our own what the broker can offer traders.
Account Types Review
The broker only offers two account types, Flex and Smart. The first one requires a minimum deposit of $50, and the second one requires $100. The leverage on a Flex account is 1:500, and the leverage on a Smart account is 1:1000. Both options are unreasonably high. Additionally, the spread is slightly higher on Flex, starting at 1.7 pips. Both accounts offer bonuses. And the company uses NDD technology to execute orders. These trading conditions are questionable. Reputable regulators prohibit such high leverage and bonuses. So we didn’t find anything here that could be called the best.
Milton Markets uses the MT4 trading platform. This is a recognized standard. The terminal is suitable for beginners and experienced traders. You can download MT4 to a PC or download a mobile app to a smartphone.
Milton Markets — Deposit and Withdrawal of Funds
Milton Markets offers a few deposit methods. The first of them is Bitwallet, and the second is a wire transfer within Japan. Obviously, these payment methods are not for a wide range of traders. Also, the broker specifies a withdrawal period of 3-5 days.
As you saw in the screenshot, it is mandatory to pass verification on the platform. You must provide Milton Markets with copies of your identity documents and your residential address. Also, you may have to provide a bank statement.
Milton Markets occasionally offers promotions and campaigns, but none are currently active. Now, the broker offers bonuses on accounts that can only be withdrawn if traders fulfill all the conditions. For example, during the first month you have to fund your account with at least $300. And yes, you have to transfer this money in addition to the initial deposit of 50 dollars.
Is Milton Markets a Scam?
Although the company tries to appear honest, we have deep doubts about its credibility. Therefore, we will conduct a thorough investigation to determine if Milton Markets is trustworthy.
Legal Information and License
The broker claims to be registered in Saint Vincent and the Grenadines. We have checked this information. There really is such a company in the registry of this offshore zone. However, it is not a good sign because the main regulator of this jurisdiction does not issue licenses. Therefore, such gray areas are usually chosen by scammers. The lack of control allows them to do anything with client accounts. In general, offshore companies should be approached with caution as they often lack transparency and regulatory oversight.
Miltonmarkets.com Domain Info
Even though Milton Markets was registered in 2021, the broker started working earlier. The domain was registered in 2015. By the way, until that time the company was registered in another offshore – Vanuatu. What is the problem with incorporating a firm in a transparent jurisdiction?
It’s a pity, but there is only a live chat to communicate with Milton Markets. We didn’t find any phone number or email address on the official website. Reliable brokers definitely do not do this.
One thought haunts us throughout the selection of the broker. Obviously, it is targeting Japanese customers. However, it is prohibited to trade Forex, CFDs, and other derivatives in this country with unlicensed brokers. Moreover, brokers who want to serve customers from Japan have to receive special licenses from JSDA or JFSA. That’s why usually, reliable companies exclude traders from Japan from their lists. However, Milton Markets is obviously breaking the law.
Pros and Cons
- Low minimum deposit.
- Lack of regulatory oversight.
- Not enough information on how to contact the broker.
- Offshore registration.
- No license.
- High leverage.
- Negative reviews.
Frequently Asked Questions (FAQ)
It offers trading in currency pairs and other instruments.
According to the trading conditions of Milton Markets, you can fund your account with either 50 or 100 dollars.
No, we wouldn’t call this broker safe. The problem is that Milton Markets is registered in an offshore zone and works without a license.