Money Mall Forex Broker
Basic Information
Indonesia
5-10 years Regulated in Indonesia Retail Forex License White label MT4 Regional BrokersCompany profile
Rating Index
MoneyMall Forex Broker - Complete Information Guide
1. Broker Overview
Company Name and Establishment
MoneyMall, established in 2017, is a forex brokerage that claims to offer trading services to clients worldwide.
Headquarters and Main Offices
The company is headquartered in the United States, specifically in Arizona.
Company Nature
MoneyMall operates as a private entity, and there is no indication that it is publicly traded.
Primary Markets and Clientele
The broker primarily targets retail traders, providing access to various financial instruments. However, its reputation and service quality have come under scrutiny due to regulatory issues and customer complaints.
Company Development and Milestones
Since its inception, MoneyMall has positioned itself as a trading platform offering services across multiple platforms, including the popular MetaTrader 4 (MT4). However, the company has faced significant challenges, including regulatory ambiguities and allegations of fraudulent practices.
Group Relations
There is no publicly available information indicating that MoneyMall is part of a larger financial group or conglomerate.
Business Model Overview
MoneyMall primarily operates in the retail forex market, offering trading services for various financial instruments, including currencies and CFDs. However, the lack of regulatory oversight raises concerns about its operations and business practices.
2. Regulatory and Compliance Information
Main Regulatory Authorities
MoneyMall claims to be regulated by the National Futures Association (NFA), although this has been disputed.
Regulatory License Numbers
The broker cites an NFA license number (0506478), but investigations reveal that this license is unauthorized and not valid.
License Validity and Scope
Currently, MoneyMall does not hold any valid regulatory licenses, raising serious concerns about its compliance with industry standards.
Legal Entities in Different Regions
The broker is registered in the United States, but it operates without the necessary oversight from credible financial authorities.
Client Fund Segregation Policies
There is no clear information available regarding the segregation of client funds, which is a critical aspect of investor protection.
Investor Compensation Fund Participation
MoneyMall does not participate in any investor compensation schemes, which further exposes clients to risks.
KYC and AML Compliance Measures
While MoneyMall may have KYC (Know Your Customer) and AML (Anti-Money Laundering) policies in place, the effectiveness and enforcement of these measures are questionable given the broker's overall regulatory status.
3. Trading Products and Services
Number of Forex Currency Pairs and Major Types
MoneyMall offers a limited selection of forex currency pairs, but the exact number is not specified in the available sources.
CFD Product Categories
The broker claims to provide CFDs on various assets, including indices, commodities, and cryptocurrencies, but specific details are lacking.
Special Products or Unique Trading Instruments
There is no indication of special products or unique trading instruments being offered by MoneyMall.
Product Update Frequency and New Additions
Information regarding the frequency of product updates and the introduction of new trading instruments is not disclosed.
Retail Trading Services
MoneyMall primarily caters to retail traders, offering standard trading services through its platform.
Institutional Client Services
There is no mention of services tailored for institutional clients, indicating a focus on retail trading.
White Label Solutions
No information is available regarding the provision of white label solutions by MoneyMall.
Asset Management Services
MoneyMall does not appear to offer asset management services based on the available data.
4. Trading Platforms and Technology
MetaTrader 4/5 Support
MoneyMall supports the MetaTrader 4 (MT4) platform, which is widely used among forex traders for its user-friendly interface and advanced trading features.
Proprietary Platform Details
There is no information indicating that MoneyMall has developed its own proprietary trading platform.
Web-Based Trading Platform
The broker provides access to a web-based trading platform through MT4.
Mobile Application Support
MoneyMall's mobile application is compatible with iOS and Android devices, allowing traders to manage their accounts on the go.
Execution Models
The execution model used by MoneyMall is not clearly defined, but it is suggested that they may employ market making practices.
Server Location and Technical Infrastructure
The brokers servers are located in the United States, but specific details about their technical infrastructure are not provided.
API Access and Automated Trading Support
Information regarding API access and support for automated trading is not available.
5. Account Types and Trading Conditions
Standard Account Conditions
Details about standard account conditions, including minimum deposit, spreads, and commissions, are not explicitly mentioned in the sources.
Advanced Account Types
There is no information available on advanced account types such as VIP or professional accounts.
Special Accounts
MoneyMall does not appear to offer specialized accounts, such as Islamic or corporate accounts.
Demo Account Policy
It is unclear whether MoneyMall provides a demo account option for prospective traders.
Leverage Ratios
The leverage ratios offered by MoneyMall are not specified, which can be a significant factor for traders when choosing a broker.
Minimum Trade Size
Information on the minimum trade sizes is not provided.
Overnight Fees Policy
Details regarding overnight fees or swap rates are not disclosed.
6. Fund Management
Supported Deposit Methods
MoneyMall reportedly supports various deposit methods, including bank transfers and credit cards, but specific details are lacking.
Minimum Deposit Requirements
The minimum deposit requirements for different account types are not clearly defined.
Deposit Processing Times
Information regarding deposit processing times is not available.
Deposit Fees
There is no mention of any deposit fees associated with funding accounts.
Withdrawal Methods and Restrictions
Withdrawal methods are not specified, and there are reports of clients facing difficulties in withdrawing their funds.
Withdrawal Processing Times
Details regarding withdrawal processing times are not provided.
Withdrawal Fee Structure
Information on withdrawal fees is not available.
7. Customer Support and Educational Resources
Support Channels
MoneyMall offers customer support via phone and email, but there is no mention of live chat or social media support.
Service Hours and Time Zone Coverage
The service hours and time zone coverage for customer support are not specified.
Multilingual Support
The available languages for customer support are not indicated.
Types of Educational Resources
There is little information on educational resources, such as webinars or tutorials, provided by MoneyMall.
Market Analysis Services
Details regarding market analysis services, including daily analysis and research reports, are not available.
Trading Tools
Information on trading tools, such as calculators or signal services, is not provided.
8. Regional Coverage and Restrictions
Primary Service Markets
MoneyMall primarily serves clients in the United States, but its operational status in other regions is unclear.
Regional Office Distribution
There is no information available on the distribution of regional offices.
Countries/Regions Not Accepted
The specific countries or regions from which MoneyMall does not accept clients are not disclosed.
Special Restrictions
Details regarding any special restrictions on trading or account opening are not available.
In conclusion, while MoneyMall presents itself as a forex broker offering various services, significant concerns regarding its regulatory status, customer complaints, and operational transparency suggest that potential investors should exercise caution. The lack of reliable information and the presence of negative reports highlight the importance of thorough research before engaging with the broker.
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Latest Reviews
nisa4619
Indonesia
Hello, can you help me get money from scammers... Initially I got a part time job and then I followed the instructions but after some time I was told to transfer a large amount of money and finally I got cheated. Please help me.
Exposure
2024-07-01
Indri 812
Indonesia
My funds are frozen and cannot be withdrawn
Exposure
2024-06-06
tunsiyah
Indonesia
I fell victim to a part-time job scam on June 19, 2024. Initially, I was just asked to like and follow TikTok accounts to receive a daily bonus of 10,000 rupiah. I followed the instructions and guidance from the mentor, only to be given tasks to buy goods with the promise of getting my money back along with the bonuses. At first, I transferred an amount of 198,000 and indeed got it returned along with a bonus of 39,000. To continue as a part-time employee, I had to complete several more tasks, reaching task number 14 where I had to deposit 2,600,000 and I did transfer that amount. It turned out that within task 14, there was another task requiring a transfer of 7,258,000 with the reason that if not completed, the money already transferred would not be returned. Eventually, I transferred the amount of 7,258,000. And yet, there was still another task demanding an even higher transfer. That's when I realized this was a scam and I stopped continuing because I no longer had any money left. Please help me get back the money I was cheated out of because that money was borrowed from someone else.
Exposure
2024-07-01