Mensa Finance is an online broker claiming to offer a variety of financial derivative trading services, including forex, cryptocurrency, stocks, and commodities. Although its official website and promotional materials suggest the platform is regulated by the U.S. NFA and Australia’s ASIC, detailed inquiries reveal that the platform is not authorized by these regulatory bodies. Therefore, the legitimacy of Mensa Finance is highly questionable, and investors should exercise great caution when considering using this platform.
Mensa Finance Company Background:
The official website of Mensa Finance is https://mensafinance.com, with the domain registered on December 3, 2022. However, no registration information about the company has been found, casting doubt on its background and legitimacy.
Mensa Finance Regulatory Information:
Mensa Finance claims to be an online broker regulated by the National Futures Association (NFA) in the U.S., with registration number 0558532, and asserts that its parent company, F. MENSA PTY. LTD., is authorized by the Australian Securities and Investments Commission (ASIC). However, verification shows that Mensa Finance is not genuinely regulated by the NFA and ASIC. This casts serious doubt on the platform’s regulatory claims, and investors should remain highly vigilant to avoid trading funds on an unverified platform.
Mensa Finance Account Registration Process:
The process to open an account with Mensa Finance is relatively straightforward, but investors should proceed with caution. Here are the steps:
- Visit the Mensa Finance website and click the “Open an Account” button on the homepage.
- After completing the registration, users receive an email containing their personal account login information.
- Use the login information to access the platform.
- After logging into the account, users need to deposit funds into their account.
- Download and install the trading platform to start trading.
While these steps may seem straightforward and easy, given the regulatory issues of Mensa Finance, investors are advised to consider carefully before registering and starting to trade and ensure they have thoroughly researched the platform.
Mensa Finance Account Types:
Mensa Finance offers a variety of account types designed to meet different levels of trading needs:
- Silver Account: As an entry-level account, the Silver Account requires relatively low minimum deposits and offers general spreads. Users can trade forex, metals, indices, commodities, futures, and stocks. Silver Account holders enjoy the services of a dedicated account manager, 24/5 customer support, expert advisor (EA) trading tools, trading signals, daily market news updates, real-time market analysis, and an economic calendar.
- Gold Account: Compared to the Silver Account, the Gold Account has slightly higher minimum deposit requirements and more advantageous spreads. In addition to all features of the Silver Account, Gold Account users also enjoy extra account manager support, 24/5 customer service, EA trading tools, trading signals, daily news updates, real-time market analysis, and economic reports.
- Platinum Account: The Platinum Account attracts traders with highly competitive low spreads, suitable for those seeking more stringent pricing. Users can trade forex, metals, indices, commodities, futures, and stocks. The Platinum Account includes technical analysis training to help users improve their trading skills, in addition to all the features of the Gold Account.
- Diamond Account: As the top-tier account type offered by Mensa Finance, the Diamond Account provides ultra-low spreads, making it particularly suitable for cost-conscious traders. Diamond Account users have access to a full range of trading tools, including forex, metals, indices, commodities, futures, and stocks, along with all the features of other account types and advanced technical analysis education.
Mensa Finance Trading Software:
Mensa Finance provides users with two trading platforms to enhance the trading experience:
- Web Trader: A user-friendly web-based trading platform offering convenient access to some of the world’s most popular forex trading applications. This intuitive platform is designed to simplify the trading process for users.
- MensApp: A next-generation trading platform focusing on CFDs, commodities, and currency pairs. This modern platform is designed to enhance users' trading capabilities and provide a more efficient trading experience.
Mensa Finance Trading Products:
Mensa Finance offers a wide range of trading instruments to cater to various investor needs:
- Indices: Trade 15 major global indices via CFDs, allowing speculation on stock market performance without owning the underlying assets.
- Cryptocurrencies: Explore opportunities in cryptocurrency trading by dealing in options such as Bitcoin, Ethereum, and Ripple in a highly volatile market.
- Forex: Trade over 40 major and minor currency pairs, engaging in dynamic forex market transactions operating 24 hours a day, five days a week.
- Energy: Take advantage of investment opportunities in the energy market by trading energy commodities such as Brent oil and crude oil.
- Stocks: A broad selection of stock trading options helps investors diversify their portfolios through specific companies or industries.
- Precious Metals: Trade precious metals like gold and silver, often considered traditional safe-haven assets during economic uncertainties.
Mensa Finance Spreads, Leverage, and Commissions:
Mensa Finance offers leverage of up to 1:500 for traders of all account types, providing the ability to control larger market positions with smaller amounts of capital, thus magnifying potential gains and risks. This high leverage is highly attractive to investors aiming to maximize their trading influence but also introduces increased market volatility risk.
In terms of fee structure, Mensa Finance offers spreads ranging from average to ultra-low across various account types, operating on a commission-free trading model. Spreads, the difference between buy and sell prices, directly affect trading costs. Silver, Gold, Platinum, and Diamond accounts all enjoy different levels of spread discounts, suitable for different types of traders, particularly those who trade frequently. It is important to note that while these accounts do not charge trading commissions, other fees such as overnight swap fees or additional costs associated with specific trading instruments may still apply. Therefore, traders should fully understand Mensa Finance’s complete fee structure to avoid unnecessary costs when using the platform.
Mensa Finance Deposit and Withdrawal Methods:
Mensa Finance simplifies the fund management process by offering three main deposit and withdrawal methods: credit card payments, electronic bank transfers, and cryptocurrency payments.
Using credit cards such as Visa or Mastercard is a common choice, although additional fees may be charged by the user's credit card provider. Electronic bank transfers offer a secure method of transferring funds, especially for large transactions. However, different banks may have varying fees and processing times, so traders should be aware of the details in advance.
Additionally, Mensa Finance supports cryptocurrency payments like Bitcoin and Ethereum. This method is typically quicker and decentralized but requires attention to cryptocurrency price volatility. When choosing a deposit or withdrawal method, traders should weigh personal preferences against potential fees and are advised to review Mensa Finance’s specific regulations or consult their customer support before trading.
Mensa Finance Customer Support:
Email: info@mensafinance.com
Phone: +387 62 182 291
Conclusion:
The inconsistencies in Mensa Finance’s background information and regulatory claims significantly undermine its credibility, despite its offering of a wealth of trading tools and account types. The platform’s regulatory issues and lack of transparency substantially diminish its trustworthiness. Investors should conduct thorough research and weigh potential risks before choosing this platform to avoid financial losses. Currently, Mensa Finance is flagged as "Suspected Fraud" on TraderKnows.
