Madexu Trade MT5, a forex broker whose official domain was registered on November 29, 2023, primarily offers investors trading services in financial derivatives such as forex, stocks, futures, energy, precious metals, and cryptocurrencies. This broker does not provide services to jurisdictions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status:
According to publicly available information on the official website of Madexu Trade MT5, the company is headquartered in Ireland and is regulated by the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), Japan's Financial Services Agency (FSA), and the Central Bank of Ireland (CBI). Furthermore, the broker has registered with the National Futures Association (NFA) in the United States, NFA ID: 0555592.
Upon verification, the UK's Financial Conduct Authority (FCA) website lists AMDE Forex as an unauthorized enterprise not regulated by the FCA. Additionally, the Australian Securities and Investments Commission (ASIC), Japan's Financial Services Agency (FSA), and the Central Bank of Ireland (CBI) do not have registration information for this broker. Moreover, the website of the National Futures Association (NFA) in the United States indicates that the entity with NFA ID 0555592 is ELEMENT TRADE LTD, not Madexu Trade MT5, and ELEMENT TRADE LTD is a non-member entity that is not regulated by the NFA.
Furthermore, the website design and content of this broker closely resemble those of broker websites such as CEREMOS, XM Market Limited, Dukascopy Trade MT5, CMC Market Trade MT5, FUNDING, and SMTT Markets Pty Ltd.
Opening an Account:
To open an account with Madexu Trade MT5: Visit the broker's official website and click "Register" on the homepage or the top right corner of the webpage. Fill in your personal email address, set a login password, and submit the application. After submission, the account can be successfully registered.
Trading Account Information:
The Madexu Trade MT5 official website only discloses information about spreads, trading leverage, margin call/stop out levels, and contract sizes. Details such as account types, trading commissions, minimum/maximum trading volume, maximum open orders/positions, and minimum price movements have not been published.
- Spreads: Variable, starting from 1 point
- Leverage: 1:100 to 1:500
- Margin call/Stop out level: 100% / 50%
- Contract size: 1 lot = 100,000 currency units
Trading Platform:
Madexu Trade MT5 claims to offer the MT5 trading platform, but the broker does not provide a download link on its website, and information about this broker is not available on MT5.
Deposits and Withdrawals:
Madexu Trade MT5 has not clearly disclosed its supported methods, fees, or minimum amounts for deposits and withdrawals on its official website.
Conclusion:
Traderknows reminds investors that Madexu Trade MT5 is a clone website with unclear corporate registration information and lacks effective regulation. The only way to contact them is through email, making their contact methods very limited. The design and content of their official website use the same template as those of broker websites like CEREMOS, XM Market Limited, Dukascopy Trade MT5, CMC Market Trade MT5, FUNDING, SMTT Markets Pty Ltd. Traderknows advises investors to choose brokers that are transparent in information, strongly regulated, and have a good reputation for their investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
