Have you ever heard of Montana Trading LTD? This broker claims to offer the same opportunities for both retail and institutional investors. Is it too good to be true, or is it a legitimate platform? In this review, we determine whether it is a reputable broker or simply another scam.
- Montana Trading LTD General Information
- Registration and Client Portal Review
- Montana Trading LTD Trading Conditions
- Account Types Review
- Trading Platform
- Montana Trading LTD — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is Montana Trading LTD a Scam?
- Legal Information and License
- Montanatradingltd.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Montana Trading LTD General Information
| Website | https://www.montanatradingltd.com/ |
| Phone Number | +442080978880 |
| support@montanatradingltd.net | |
| Address | Sweetwood Drive Street, Boulder, Colorado 80302 |
| License | — |
| Minimum Deposit | £100 |
| Assets | CFDs |
| Leverage | Up to 1:100 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
Right after reviewing the official website, we could have concluded our article. As soon as clients land on the website, they are greeted with a huge banner promising a 45% bonus. Although such practices are not usually welcomed by regulators, that’s not the only issue. We only see loud statements about how good Montana Trading LTD is.
Meanwhile, there’s one huge catch. The creators of the Montana Trading LTD website didn’t even bother to change the text from the previous template, or they hastily copied someone else’s content. In any case, it would be better for the project administrators to decide whether they will collaborate with clients under the name of Montana Trading LTD or Olympic Markets Ltd.
The registration process at Montana Trading LTD is pretty standard. You enter your personal details, as well as a password, and then you’re prompted to the Client Portal. However, there’s one thing that stood out during our review: the broker doesn’t verify your email or phone number.
Verifying your email and phone number is a crucial step in ensuring the security of your account. So, if you’re someone who’s not too concerned about the safety of your funds and personal information, then by all means, go ahead and skip the verification process. However, if you’re like us and prefer to take the extra step to protect your assets, then you might want to think twice about registering with Montana Trading LTD.
Oh, how many times have we seen this greeting on various client portals! As you might have guessed, there’s nothing particularly special about it here either. You are taken to a standard dashboard where you can access a range of basic features. These include the ability to deposit and withdraw funds, view account balances and transaction history, as well as access to trading tools. The Montana Trading LTD dashboard is generally easy to navigate and visually appealing, but it lacks any advanced features or customization options.
Montana Trading LTD Trading Conditions
So, do you remember that you’ll get the same service here as institutional investors? Well, let’s see what exceptional offerings these market participants have.
Account Types Review
It seems that for institutional investors, the rule “the more money you have, the more services you get” applies. In other words, if you expect to invest only 100 pounds and get a whole basket of perks, we have nothing to please you with.
So, if you deposit only 100 pounds, you’ll get virtually nothing. Your access to trading assets will be limited, and you’ll likely only be allowed to trade a few currency pairs. To diversify your portfolio, you’ll need to open an ECN account and deposit at least 5,000 pounds. Only in the Platinum account, which requires a minimum deposit of 50,000 pounds, are there no asset restrictions. However, hey, you’ll get trading signals several times a day and analyst reports. Well, yes, you can find those for free too, but how do brokers make money? After all, everyone wants something. Montana Trading LTD either.
Trading Platform
When it comes to an exclusive trading platform, don’t hold your breath. Institutional investors would be surprised to find out they’re trading on THIS platform. It’s all nonsense, really. Montana Trading LTD offers clients a basic web trader. The broker didn’t even bother to provide a downloadable desktop or mobile version. Of course, this terminal isn’t connected to any reputable liquidity provider. And, to top it off, it has limited functionality.
Montana Trading LTD — Deposit and Withdrawal of Funds
Montana Trading LTD accepts deposits via Visa/MasterCard and bank transfers, but the funding process is more convoluted than a game of Twister. Instead of a simple online deposit, the broker requires a manager to reach out to you after you specify the amount. It’s like they’re trying to start a conversation before the date. Who knows what kind of pressure they’ll put on you to deposit more money? We tried to fund our account, but the process was as clear as mud.
Verification
The standard verification process at Montana Trading LTD requires clients to provide a copy of their government-issued identification, proof of address, and proof of payment. Once the documents are submitted, the broker will review them and confirm the client’s identity. This process is in line with industry standards and is the only aspect of the broker’s services that we do not find questionable or objectionable.
Additional Options
We won’t even consider any trading signals. Anyone who doesn’t want to blow their deposit within a week won’t use these services. Instead, let’s talk about bonuses again.
Montana Trading LTD’s tariff plans offer bonuses ranging from 20% to 50% for account deposits. Traders who open accounts above the “Novice” level can receive them. For those who want to get “free” money from the broker, it’s worth remembering that:
- Legitimate companies operating under the supervision of reputable regulators are prohibited from using this method to attract clients. This once again confirms that you should not rely on Montana Trading LTD to regulate their work and protect their clients’ rights.
- These “free” bonuses are not really free. Any broker that offers bonuses requires them to be “worked off,” similar to online casinos. This means that until traders meet the total trading volume requirement, they will not be able to withdraw not only profits, but also their own funds.
The fact that Montana Trading LTD does not disclose this in their documents again puts the company’s honesty into question. Remember, there’s no such thing as a free lunch, but there might be a free bonus…with some pretty hefty strings attached.
Is Montana Trading LTD a Scam?
Hmmm… A broker that hasn’t decided whether it’s Montana Trading LTD or Olympic Markets scam? This can’t be true! Alright, enough with the irony. Let’s move on to the most important part of our review.
Legal Information and License
In the footer, the broker does provide registration details for Montana Trading LTD, which was incorporated back in 2012. And no, it did not go by the name Olympic Markets before. Its activities are listed as financial intermediation. If it is indeed a broker, it should have a license from the UK regulator FCA. We did not make up these rules. However, considering the presence of bonuses and high leverage, we predict in advance that there will be no license in the registry.
And that’s exactly what happened. The registry only showed a license for the subsidiary Danish company Montana Trading APS, but solely for payment service directive and not for brokerage services.
Montanatradingltd.com Domain Info
In fact, Montana Trading LTD has not been working since 2012 at all. If you google it, you will find only a few results. And all of them are for April 2023. Additionally, we checked the domain and found that the website was created on March 21, 2023. All of this gives us reason to believe that the broker simply borrowed registration data from a real legal entity and is trying to pass itself off as such.
Contacts Review
Montana Trading LTD provides a phone number and an email in the contacts section. You can also find an American address there. Who cares if a company from the UK has an office in America, right? Well, we hope you understand that this is nonsense and that the address is simply fake.
More Details
Montana Trading LTD has a friend. Actually, not just one friend. A whole range of scam friends. We have written about some of them, such as Nelson Financial Solutions Limited or CED Capital Limited. There are many more of them. Scammers’ imagination knows no bounds.
Pros and Cons
- None.
- The contact information is likely fake.
- Unrealistic bonuses and high leverage.
- The company’s registration information is misleading.
- No license.
- Short lifespan.
Frequently Asked Questions (FAQ)
No matter what bold claims you may read on this website, remember that Montana Trading LTD is just a regular CFD broker.
According to the trading conditions, you are required to deposit at least 100 pounds.
No, Montana Trading LTD is not safe. This fake company, which is trying hard to pass itself off as a real broker, will quickly leave you without any money.
Here is my long review for those who don't understand that Montana Trading LTD is a scam.
This is complete rubbish, not trading conditions. I’m currently looking for a broker that I can trade with properly. I stumbled upon this “wonder” and it even made me a little curious about who actually trades with Montana Trading LTD, since the conditions offered by this fraudulent company clearly do not fit for active Forex earnings. Let me go through the details at Montana Trading LTD:
1. Assets are limited by account type. The higher the account type, the more instruments are available. I have never seen such ridiculous conditions anywhere else. Only a small pool of assets is available on the minimum tariff, and to gain access to a more diverse list of instruments, I need to invest even more money.
2. The leverage on the first account is 1:20. The second is 1:50, and so on. How do you even plan to trade on the Forex with a deposit of $100 and leverage of 1:20? And to those who created these conditions, are you idiots or what? Do you understand that it is impossible to trade with such low leverage on currencies with deposits of $100-200-300? It’s fine if it’s crypto or stocks, but they’re not available on these minimum tariffs. When normal brokers offer 1:100 and more at the minimum level, this stupid scam reduces the leverage for those who need it most and gives it to those who don’t need it.
3. Commissions. Here, my eyes popped out of my head when I saw what Montana Trading LTD offers. On the first account, the commission is 1%-2.5%. The second is 0.5%-2%, and so on. I assume this is a trading commission? Why is it so huge? Even if it’s some other type of commission, it’s still out of the norm. And yes, Montana Trading LTD could have specified what type of commission it is, to understand it more clearly. But of course, why bother, let the hamsters suffer, finding out after depositing the money, that they have to give 5% of the transaction volume and earn nothing.
4. Other conditions are not even specified, such as the size and type of spreads, swaps, whether there is a no-swap type of account, whether it is possible to take a type of account where there is a commission, but no spread, and vice versa, where there is a spread, but no commission.
I don’t know who founded this company, but the person is clearly stupid and does not understand what Forex trading is. Or they are counting on clients who are completely stupid and will agree to trade on such conditions.