MTSG-sb presents itself as the premier trading platform in Europe. We thought we had a good grasp of the top 10 platforms for trading in the region. However, this particular broker was entirely off our radar. So, let’s dive in to determine if it truly lives up to its claims or if it’s just another addition to the ever-growing list of today’s scams, which is the focus of our review.
- MTSG-sb General Information
- Registration and Client Portal Review
- MTSG-sb Trading Conditions
- Account Types Review
- Trading Platform
- MTSG-sb — Deposit and Withdrawal of Funds
- Additional Options
- Is MTSG-sb a Scam?
- Legal Information and License
- Mtsgsb.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
MTSG-sb General Information
|Phone Number||+423 233 02 61|
|Address||Äulestrasse 76, 9490 Vaduz|
|Leverage||Up to 1:50|
Registration and Client Portal Review
We’re absolutely struck by this “gorgeous” official website – and we use “gorgeous” quite loosely here. We mean, just take a look at that background. At the very least, it appears to extinguish any desire to trade, invest, or enjoy life. And the broker’s name, did you notice that too? Furthermore, the overall content on the page raises many questions. For instance, where can we find information about the company’s history? What about full disclosure of legal details instead of mere empty claims about being the best in Europe? In short, the MTSG-sb website leaves a lot to be desired.
The registration process on the MTSG-sb platform is pretty standard. As usual, you’ll need to fill out a form with your personal information and contact details. Although it’s unclear why you’d provide your phone number and email because MTSG-sb doesn’t conduct any verification. You’ll gain immediate access to the client portal, but there’s a bit of a twist. First, you’ll have to exit the form, and then you’ll need to log back in with a new login and password. Oh, and by the way, no 2FA.
The Client Portal at MTSG-sb, to be honest, leaves a lot to be desired. One major issue is that it’s combined with the trading platform, which is not very user-friendly. This can be frustrating, especially if you’re looking for efficient access to your account details and history.
In terms of features, you’ll find a basic and standard set of functionalities that are necessary for account management, but nothing beyond that. Don’t expect any unique or innovative tools to enhance your trading experience. It’s rather plain and lacks the convenience and customization options that many other platforms offer.
MTSG-sb Trading Conditions
Indeed, for MTSG-sb to truly live up to its claim of being a top-level broker, it needs to offer exceptional trading conditions. Let’s see if that’s the case here.
Account Types Review
MTSG-sb offers three types of accounts: Starter, Standard, and Professional. You can begin trading with a minimum deposit of just $500. The deposit requirements increase to $25,000 and $50,000 for Standard and Professional accounts, respectively. The maximum leverage across all account types is 1:50. Additionally, each type of account comes with different levels of financial planning services. In the higher-tier accounts, deposit protection and VIP services become available. MTSG-sb seems to target more affluent clients, as the range of services increases with account status. Furthermore, it’s important to note that this broker operates using a dealing desk model.
The dealing desk model, sometimes known as a market maker model, means that MTSG-sb acts as the counterparty to your trades. When you place an order, the broker takes the opposite side. While this model has some advantages, such as providing liquidity and potentially offering fixed spreads, it also has significant drawbacks.
Brokers operating a dealing desk may have a conflict of interest. Since they profit from your losses, it’s not in their best interest for you to win consistently. In a dealing desk model, there might be a lack of transparency regarding the real market conditions. Your broker could manipulate prices, leading to unfair trading conditions.
MTSG-sb’s trading platform, presented solely in its web version, falls short of expectations on various fronts. Here’s why it leaves much to be desired:
- Limited Features. This platform offers a rather lackluster range of features. It’s almost as if the developers forgot to add the bells and whistles that traders have come to expect in today’s competitive market. This deficiency can be particularly frustrating for those who rely on advanced trading tools.
- Sparse Indicators. A key to successful trading is the availability of a wide array of technical indicators and charting tools. Unfortunately, MTSG-sb’s platform lacks the comprehensive selection that traders need to make informed decisions.
- Web-Only Interface. The fact that MTSG-sb’s trading platform is web-only can be a significant drawback. Desktop and mobile applications offer more flexibility and superior performance compared to a web-based interface. Additionally, the absence of a dedicated mobile app is a letdown for traders who prefer to manage their trades on the go.
MTSG-sb — Deposit and Withdrawal of Funds
On the MTSG-sb platform, depositing funds is exclusively possible using cryptocurrency. Within the user account, only this method is available for deposits. However, for withdrawals, there are slightly more options, such as credit and debit cards, and even bank transfers. It’s worth noting that specific information regarding transaction fees and processing times is conspicuously absent.
In a trustworthy trading environment, complete information about deposits, withdrawals, and associated fees should be readily available to clients, ensuring a more reliable and efficient trading experience.
MTSG-sb requires its clients to undergo a verification process. This is a standard procedure in the financial industry, aimed at confirming the identity of the traders. It usually involves submitting a set of personal documents, such as identification and proof of address, which are then reviewed by the broker’s compliance team to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations.
We’ve previously mentioned that MTSG-sb offers some VIP services for VIP traders, but the specifics of these services are not described here. Apart from that, there is little else of interest on the platform. They do offer deposit insurance, but it’s essential to understand that such insurance is not a common practice in real financial markets. In trading, you either win or lose. If a broker is offering deposit insurance, it’s a clear sign that they may operate as a dealing desk, which we’ve discussed earlier. Traders should be cautious when encountering such practices.
Is MTSG-sb a Scam?
Now it’s time to examine another crucial aspect of a good broker – its legitimacy. Let’s get started.
Legal Information and License
MTSG-sb claims to be a regulated organization and insists that regulation is the key to success. In the user agreement, there’s information indicating the company is officially registered at Äulestrasse 76, 9490 Vaduz, Liechtenstein. Unfortunately, we could only find a single match to this company’s name, and it’s not MTSG-sb. Interestingly, the user agreement then states that the place of business is Belize. However, even from this offshore regulator, the company has not obtained any licenses. The conclusions about its legitimacy are left for you to draw.
Mtsgsb.com Domain Info
Another alarming fact we discovered during our domain check is that MTSG-sb only began its operation in September 2023, or at least that’s when its website was created. A such a short period of operation is a major red flag. It’s concerning because well-established and trustworthy brokers tend to have a longer history of operation, while a broker that pops up out of nowhere should be viewed with extreme caution.
The broker provides contact options via phone and email. As for its registered office, it’s rather unclear whether they accept visitors there, or even if the office exists at all. In general, we wouldn’t recommend visiting in person, as the likelihood of MTSG-sb operating physically seems quite low.
Pros and Cons
- Variety of accounts.
- MTSG-sb operates without proper regulation, posing potential risks to traders.
- The broker’s website lacks crucial information on trading conditions, such as spreads and commissions.
- Inadequate trading tools.
- Dubious background.
- Recent establishment.
Frequently Asked Questions (FAQ)
MTSG-sb claims to offer various trading services. However, the lack of regulatory information and transparency about the company’s operations raises concerns regarding what it truly provides.
According to the broker’s terms and conditions, the minimum deposit required to open an account is $500.
We have serious doubts about the safety and security of MTSG-sb, mainly because it appears that the broker lacks official registration and regulatory oversight. The absence of these crucial elements raises concerns about the protection of your investments and the reliability of the broker’s services.