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Broker Reviews

Published on June 5th, 2020 | by Sara Kane

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Mentor FX review: Should you invest in this site?

Mentor FX happens to be an online trading company, that serves as a CFD brokerage and Forex platform, offering a multitude of financial assets to the potential traders. This company offers investments in Forex, cryptocurrency as well as other commodities such as precious metals and currencies. Traders on this site will have the option to trade in various different commodities, which makes it easier to diversify your portfolio. However, there are also many risks when dealing with such trades as many of the investments that the company offers is classified as highly risky investments by MasterCard and other credit organizations.

The company claims to have a highly integrated platform as well as over 2000 tools to help investors. They also claim to have an efficient system that allows traders to make profits on most trades. While this may be true, it is highly unlikely that they will be able to deliver the returns as advertised. While they don’t explain exactly how much you can expect to get on each plan, they provide you with leverage as well as other tools. Unfortunately, many experienced investors claim that leverage cannot be used for many commodities, including the ones advertised on this site. This makes it essential to review the details on how exactly Mentor FX plans on trading profitably. 

Mentor FX is relatively new to commodity trading. It prides itself as being the number one CFD provider even through this claim cannot be verified. The company was formed in 2019 and deals with most major commodities, including cryptocurrency and Forex trading. The fact that they are based in Seychelles makes it difficult to verify the physical address of the company. However, they have claimed that they are registered and approved by the Financial Supervision Authority.

According to many third party sites, the information that they provide is incorrect as they are still not licensed to deal with most of the commodities that they are offering, including other financial services. You would also not be able to do business with them in many countries. If you want to contact them for further information, you could call +448704786973 or email them at info@mentorfx.com. Alternatively, their website can be accessed at: https://mentorfx.com/.

Mentor FX review

Mentor FX deals mainly with online trading. Although they claim to deal with physical commodities as well, the entire process is online, so you are basically supposed to make money doing nothing. They offer an advanced trading system as well as trading robots that will help you make profits most of the time. However, they also claim to use a system of leverage and bonuses to help you make money. There are three different plans ranging from $250 investment with a 1:100 leverage to an investment of $10000 and above with a leverage of 1:400. While these numbers are highly above the actual market rates, there is also no possible way of achieving such high leverages without a large investment. They also offer custom bonus schemes for members, but do not elaborate on how these will actually work.

Strategy

Mentor FX uses many common  market strategies to make a profit. Hpowever, their plans do not fit in wit the strategy as it is unlikely that they can achiev the advertised success without an innovative strategy. Fiorstlky, they claim to have a highly trained team that deals with most of the trades. The fact that they did not provide any information on the team members or their qualifications, mkes one wonder if such a team actually exists. In addition to this, they do not exaplian any of the tools that they are supposed to offer. The company claims to use a leverage system, but most cryptocurrencies do not work on leverage trades. In fact, many other commodities do not operate on these principles either., Therefore the trading strategy of Mentjor FX is highly unclear.

Analysis

  • Company: Mentor FX
  • Products: Crypto trading, Forex, Commodities and stocks
  • Minimum investment: $250
  • Strategy: Leverage trading
  • Trading results: Unverified
  • Customer Feedback: Predominantly negative (or controversial)

You may be interested in looking into other similar platforms…ConomiBitcoin Fast ProfitFX Coin Bot, and Bitcoin Champion.

Trading Results

Mentor FX does not have accurate trading results to back up their claims. They have posted no actual trading information on the company site and their trades cannot be verified on any third party trading platform. The fact that the expected profits are also not mentioned, makes it difficult to determine whether they are actually trading or not.

Customer Feedback

Most of the customers that deal with Mentor FX claim to be scammed. One customer complains that they do not answer their emails to deal with customer complaints. They also use the pretext of losses to hand the customer’s investment in the hands of unregulated brokers.

Conclusion

Because Mentor FX is dealing with unregulated brokers, it makes it difficult to determine whether they are legitimate or not. They also provide very general information on how they plan to trade and the customer is not informed of the expected returns either. You should think twice before investing in this site.

Have you been considering to use this service? OR, have you had any experience with this company? If so, we would love to hear from you, share with us in the comments section below…

~ Trade Safely!

Mentor FX (Forex & CFD brokerage)

$250 (minimum investment)

2.3

Price


3.0/10

Strategy


3.0/10

Trading Results


2.0/10

Client Feedback


1.0/10

Customer Support


2.5/10

Pros

  • They seem to have a professional website
  • Mentor FX promises a high profit margin and claims to be the best online service provider
  • They offer trading options in multiple financial assets

Cons

  • Company provides insufficient details when it comes to the employed strategy
  • They do not provide sufficient data to authenticate their trading results
  • It's a high risk minimal investment, because of limited market repute
  • The client feedback is also very controversial and none has been mentioned on their website


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