Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo genuine forex or CFD licence anywhere; only AML registrations and an offshore company number, presented as 'regulation' while taking deposits.
Identity & transparency
7/10 · HighReal, traceable Canadian entity and address, but it is now dissolved, hid a prior name, and dressed a company number up as a licence.
Withdrawals & conduct
5/10 · ModerateNo detailed transactional withdrawal-theft reports found, but with no regulator there is no recourse and the operator has vanished.
Reputation
6/10 · HighIndependent reviewers rate it unregulated and warn it appears deceptive; footprint is thin and net negative.
Website claims
9/10 · CriticalOutright false claims of being 'globally licensed and regulated', plus inflated trade-count and award boasts.
Operational history
7/10 · HighShort, churned history: rebranded from ITFX, entity dissolved in 2024, trading portal live under a year before going offline.
Who they are
A quick desk file on the company behind the brand.
A short desk file on who is behind this brand.
- Brand: MTL (Mosanes)
- Legal entity: Mosanes Technologies Limited, Canada federal corporation number 11810073, formerly named ITFX Group Global Inc.
- Registered: 1730 St. Laurent Blvd, Ottawa, Ontario, K1G 5L1, Canada. Incorporated 25 December 2019, dissolved 9 December 2024.
- Website: home.mosanes.com (trading portal, now offline) and mosanes.com (marketing site, now parked).
- Only 'licences': a FINTRAC MSB registration, a FinCEN MSB registration, and a Saint Vincent and the Grenadines IBC number. None is a forex or CFD trading licence.
- Offers: Forex, CFDs on indices, commodities and cryptocurrencies, via the cTrader platform.
- Not accepted: not disclosed.
- Age claim: the site says 'established 2021', while the company was actually incorporated in 2019 under a different name.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
MSB (FINTRAC), Financial Transactions and Reports Analysis Centre of Canada
MSB (FinCEN), Financial Crimes Enforcement Network
Financial Services Authority (Saint Vincent and the Grenadines)
Why we reached this verdict
How the evidence adds up.
We reached LIKELY_SCAM because the regulatory story falls apart on inspection and the operator has since disappeared.
- No real licence, dressed up as regulation. A FINTRAC or FinCEN MSB registration is an anti-money-laundering formality, not permission to run a brokerage. The site even printed its Canadian company number (1181007-3) as an 'MSB FINTRAC LICENSE'.
- Self-refuting Saint Vincent claim. MTL claimed to be 'regulated by SVGFSA', but the authorities in Saint Vincent and the Grenadines have publicly stated they do not license or supervise forex and CFD trading.
- The company is dead. Corporations Canada records Mosanes Technologies Limited as dissolved on 9 December 2024, while the trading site was still taking sign-ups in 2025.
- A rebrand of another unregulated broker. The same corporation was previously ITFX Group Global Inc., also flagged as not regulated.
- Independent agreement. A third-party review service assessed MTL as unregulated and warned it appears to operate deceptively.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Corporations Canada records Mosanes Technologies Limited (corporation 11810073) as incorporated 25 December 2019 and dissolved 9 December 2024, formerly named ITFX Group Global Inc., registered at 1730 St. Laurent Blvd, Ottawa.
E2The broker's own site (archived August 2025) calls itself a 'regulated Forex CFD Provider' and 'Globally Licensed & Regulated', with the footer 'MSB FINTRAC LICENSE NO: 1181007-3' and 'SVGFSA LICENSE NO: 26789 BC 2022'.
E3Saint Vincent and the Grenadines authorities advise publicly that they do not license or supervise forex and CFD trading and only register International Business Companies, which makes MTL's 'SVGFSA regulated' claim self-refuting.
E4An independent review service assessed MTL (home.mosanes.com) as 'Unregulated' and, in August 2025, that it 'appears to be a scam', noting FINTRAC and FinCEN do not regulate forex and that the SVG registration was cancelled.
ModerateBrokersViewE5The 'MSB FINTRAC LICENSE NO: 1181007-3' is in fact the company's Corporations Canada number, and FINTRAC and FinCEN MSB registrations are anti-money-laundering formalities, not authorisation to run a brokerage.
E6The same corporation previously traded as ITFX Group Global Inc., itself an unregulated forex broker, indicating a rebranded unregulated operation rather than a new, licensed firm.
E7Both operating sites are now down: home.mosanes.com no longer resolves and mosanes.com returns a parked or error page, consistent with an abandoned operation.
ModerateLive checks and archive historyE8The mosanes.com domain hosted a WordPress marketing site from mid-2022, while the trading portal home.mosanes.com only appears in archives from August 2025 and disappeared within about a year.
E9The named operator was a genuine, registered Canadian federal corporation with a real Ottawa street address, so the identity behind the brand was not entirely fabricated.
ModerateCorporations Canada (ISED)
The other side
The strongest case in this broker’s favour.
In fairness, here is the strongest case that MTL is not an outright fraud.
- The operating company was genuinely real. It was a registered Canadian federal corporation with a verifiable Ottawa address, not an invented name.
- It does hold real anti-money-laundering registrations, so it is not a pure paper front with nothing at all behind it.
- We did not find a formal regulator warning naming the domain, nor a large, detailed cluster of victims describing stolen withdrawals. So we cannot prove a systematic theft pattern.
- Offshore and lightly-registered brokers exist that still pay clients; being unregulated is a serious risk, not automatic proof of theft.
These points keep us at LIKELY_SCAM rather than a fully confirmed one, but they do not cure the false 'regulated' claims or the dissolved operating entity.
What would change this
What we would need to see to revise the verdict.
Here is what would move this verdict in either direction.
- Toward confirmed scam: a regulator warning list naming mosanes.com or the entity, or several detailed reports of clients unable to withdraw funds with dates and amounts.
- Toward lower risk: proof of a genuine, in-force trading licence from a real financial regulator (for example CIRO in Canada or a tier-1 or tier-2 authority) held by the entity that takes client money.
- Evidence that the operation relaunched under a live, properly regulated entity with continuity would also change the picture.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Corporations Canada: Mosanes Technologies Limited
Official federal corporation record showing the company as dissolved.
SVG authorities advisory on forex trading
Saint Vincent states it does not license or supervise forex and CFD trading.
FinCEN MSB Registrant Search
Shows what a FinCEN MSB registration is: anti-money-laundering only, not a trading licence.
Frequently asked questions
Quick answers about this broker’s safety.
Is Mosanes (MTL) a scam?
We assess it as a likely scam. It advertised itself as a regulated broker while holding no genuine trading licence, and the company behind it was dissolved in Canada in December 2024. Both of its websites are now offline or parked.
Is Mosanes Technologies Limited regulated?
No. Its only credentials are anti-money-laundering registrations (FINTRAC and FinCEN MSB) and a Saint Vincent company number. None of these authorises running a forex or CFD brokerage. No real financial regulator supervises it.
Can I get my money back from MTL?
There is no regulator or compensation scheme to help, so recovery is difficult. If you paid by card or bank transfer, ask your bank about a chargeback quickly and keep all records of your deposits and communications.
Is my money safe with MTL?
No. With no real regulation and no client-money protection, your funds are at risk. The operating company has also been dissolved, which makes any claim against it far harder.
Who owns MTL?
The brand was operated by Mosanes Technologies Limited, a Canadian federal corporation (number 11810073) registered in Ottawa. The same corporation was previously named ITFX Group Global Inc. It was dissolved on 9 December 2024.
What does the FINTRAC or FinCEN MSB registration mean?
It means the company registered as a Money Services Business for anti-money-laundering purposes. It is not a licence to operate a brokerage or to take trading deposits, and it offers traders no financial protection.
Is the Saint Vincent (SVGFSA) licence real regulation?
No. Saint Vincent and the Grenadines only registers International Business Companies. Its authorities have publicly stated they do not license or supervise forex trading, and MTL's registration there was reported cancelled.
How old is MTL?
The site claimed it was established in 2021, but the underlying company was incorporated in 2019 under the name ITFX Group Global Inc. The trading portal home.mosanes.com only appeared around 2025 and is already offline.
Is MTL a clone of a well-known broker?
No. It is its own brand and does not impersonate a famous regulated firm. An earlier database label calling it a clone appears to be a mistake.
Is the MTL website still working?
No. The trading portal home.mosanes.com no longer resolves, and the main mosanes.com domain now shows a parked or error page. The operation appears to be defunct.
What platform did MTL use?
According to its own site and independent reviews, MTL offered only the cTrader platform, with no MetaTrader 4 or MetaTrader 5.
What should I check before depositing with any broker?
Confirm a real, in-force licence from a top-tier regulator directly on that regulator's own register, check for warning-list entries, and be cautious of firms that present company or anti-money-laundering registrations as if they were trading licences.
What we recommend
The practical takeaway from everything above.
Our advice for anyone considering or already using MTL.
- Do not deposit. There is no real financial regulator standing behind this broker, and the company that ran it has been dissolved.
- If you already have a balance, try to withdraw it now and stop adding funds.
- If you paid by card or bank transfer, contact your bank about a chargeback or recovery, and keep all records.
- Be wary of anyone who contacts you offering to 'recover' your money for an upfront fee. That is a common follow-up scam.
- Report your experience to your national financial regulator.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 7, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.