MainTrade Forex Broker

Note: MainTrade's official website: https://maintrade.co is currently inaccessible normally.MainTrade Review SummaryFounded2022Registered Country/RegionUnited KingdomRegulationUnregulatedMarket Instruments/Demo Account❌LeverageUp to 1:500SpreadFrom 1.5 pipsTrading PlatformWeb-basedMin Deposit$250Customer SupportEmail: support@maintrade.coPhysical Address: 2nd Jubilee Place, London E14 5NY, United Kingdom MainTrade is an offshore broker based in the United Kingdom. MainTrade offers trading leverage up to 1:500 and requires a minimum deposit of $250. Detailed information about its trading operations is currently unavailable due to the inaccessible website. In addition, before considering trading with this broker, you should be aware that it lacks regulation.Pros and ConsPros Cons Multiple trading account typesLack of regulationUnavailable websiteHigh minimum depositNo MT4/5High annual management fee and inactivity account feeIs MainTrade Legit? MainTrade is not regulated by any major financial institution. It claims to be registered in the United Kingdom and to have obtained a license from the Financial Conduct Authority (FCA), but there is no authorized broker using the trading name or domain name 'MainTrade' in the FCA's database, further confirming the fraudulent nature of MainTrade.Account Type MainTrade offers four types of trading accounts: Standard, Silver, Gold, and VIP, but information regarding the minimum deposit requirement isn't provided.Leverage MainTrade offers leverage up to 1:500, which is fairly high in the industry. Furthermore, trading with such a high leverage poses high risks as well, especially with an unregulated broker like MainTrade.Account TypeMax LeverageStandard1:400Sliver1:400Gold1:500VIP1:500SpreadAccount TypeSpreadStandardFrom 1.5 pipsSliverFrom 1.5 pipsGoldFrom 0.8 pipsVIPFrom 0.0 pipsTrading Platform MainTrade only offers a web-based platform developed by themselves. Although this platform has the basic functionality for placing orders, it cannot compare to the comprehensive and advanced features offered by MetaTrader 4 (MT4) and MetaTrader 5 (MT5).Trading PlatformSupported Available Devices Suitable forMT4❌/BeginnersMT5❌/Experienced tradersWeb-based✔Computer/Deposit and Withdrawal MainTrade offers multiple payment methods, including Paystudio, Coindeck, Gateway, Credit Card, Paypound, and ChargeMoney. However, MainTrade does not provide clear information regarding deposit and withdrawal fees.Fees MainTrade charges a steep annual management fee of $100 and a high inactive account fee of $50per month.