mdsyatirim.com is a CFD broker whose official website domain was registered on April 25, 2023. This broker primarily serves retail and institutional clients, providing trading services for financial derivatives including forex, precious metals, commodities, energy, stocks, and indices. It does not offer services in jurisdictions where doing so might violate local laws or regulations.
Company Registration and Regulatory Status
According to publicly available information on mdsyatirim.com’s official website, the platform uses "MDS Group" as its trading name. It claims to be registered in multiple countries and licensed by several regulatory authorities, including the Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited), the Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd), the Belize Financial Services Commission (FSC) (MDS Global Limited), and DFSA (Trading Point MENA Limited).
Upon verification, it was found that there is no company named MDS Global Limited listed with the Belize Financial Services Commission (FSC). Additionally, the companies and regulatory information mentioned on mdsyatirim.com’s website are stolen and mimic content from the well-known broker XM’s official website.
Therefore, mdsyatirim.com is actually a fraudulent website with no company entity or regulatory oversight.
Trading Instruments
mdsyatirim.com offers a variety of financial derivative trading options including forex, precious metals, commodities, energy, stocks, and indices.
- Forex: The exchange between different national currencies, the largest financial market globally, mainly used for currency exchange and speculation.
- Precious Metals: Such as gold and silver, used as investment hedges and tools against inflation, with prices often influenced by economic uncertainty and inflation.
- Commodities: Covering raw materials and agricultural products like oil, natural gas, copper, soybeans, and wheat, with prices affected by supply and demand and global economic conditions.
- Energy: Including oil, natural gas, and coal, which are sensitive to global economic and political events, resulting in significant price fluctuations.
- Stocks: Represent partial ownership in a company, allowing investors to earn a portion of the company’s profits (dividends) and value growth (capital appreciation) through purchasing shares.
- Indices: Reflect the overall performance of a market, such as the S&P 500 Index, the Dow Jones Industrial Average, and the NASDAQ Composite Index, with changes in the indices reflecting general market trends.
Account Opening Process
Upon testing, it was found that clicking "OPEN AN ACCOUNT" on mdsyatirim.com’s website redirects to a page that does not exist, making it impossible to complete the normal account registration process.
Trading Accounts
mdsyatirim.com offers three types of trading accounts: MDS Ultra Low Micro Account, MDS Ultra Low Standard Account, and MDS Zero Account.
MDS Ultra Low Micro
- Base currency options: EUR, USD, GBP
- Contract size: 1 lot = 1,000
- Main currency pair spreads: As low as 0.6 pips
- Commission: None
- Maximum number of open/ pending orders per client: 300
- Minimum trade volume: 0.1 lots
- Lot size limit per order: 100 lots
- Islamic account: Optional
- Minimum deposit: $100
MDS Ultra Low Standard
- Base currency options: EUR, USD, GBP
- Contract size: 1 lot = 100,000
- Main currency pair spreads: As low as 0.6 pips
- Commission: None
- Maximum number of open/ pending orders per client: 300
- Minimum trade volume: 0.01 lots
- Lot size limit per order: 50 lots
- Islamic account: Optional
- Minimum deposit: $100
MDS Zero
- Base currency options: USD, EUR, JPY
- Contract size: 1 lot = 100,000
- Main currency pair spreads: As low as 0 pips
- Commission: Yes
- Maximum number of open/ pending orders per client: 200
- Minimum trade volume: 0.01 lots
- Lot size limit per order: 50 lots
- Islamic account: Optional
- Minimum deposit: $100
Trading Platform
mdsyatirim.com claims to offer a proprietary trading platform that supports both PC and mobile devices. However, the download links provided by the broker do not work, making it impossible to download any trading platform.
Deposit and Withdrawal
mdsyatirim.com does not clearly specify the supported deposit and withdrawal methods, related fees, or minimum deposit and withdrawal amounts on its website.
Summary
Traderknows reminds investors that mdsyatirim.com is a scam website that fraudulently uses information from the official website of the well-known broker XM. The contact information provided by the website is limited to email only. Investors are advised to choose brokers with transparent information, strict regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
