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Contract reading

What MTrading legally published, but does not want you to read

Every clause below is published by MTrading itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: ServiceComsvg LLC

sole discretionhidden feelanguage arbitrageunilateral amendmentdormancyevidence controlprofit voidingwithdrawalsaccount accessbalance confiscation

MTrading's Bengali contract and its English contract are not the same document. The Bengali version has no negative balance protection and caps leverage at 1:1000, while its pages sell 1:8888. The dormancy fee reads 50 USD a month in Bengali and 100USD in English. Your deposit also stops being yours on arrival: the risk disclosure says it is not segregated and MTrading may use it on its own account.

Back to MTrading

Contract risk

Money at risk
8.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
9
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
20
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
9
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 20 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical9
Warning10
Notice1

section 178 of 187is where the deepest clause sits, 95% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$50Fee on an unused account. Jump to the clause this comes from.A year idle, then 50 USD a month, then the balanceCritical$100In the contract. Jump to the clause this comes from.One clause, two prices: 50 USD in Bengali, 100USD in EnglishCritical5Withdrawal limit. Jump to the clause this comes from.Withdrawals have no deadline and five ways to be stoppedCritical70%Bonus requirement. Jump to the clause this comes from.The deposit bonus locks withdrawals and moves your stop out

What the documents say

20 clauses worth knowing about, worst first, each quoted from MTrading's own files

01

MTrading's Bengali page guarantees you cannot lose more than your deposit. The Bengali contract you agree to has no protection clause at all, and the risk disclosure says the opposite: any shortfall is yours to pay.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

If a gap in the market takes your account below zero, you owe MTrading the difference. The English version of the same contract does cap that loss at zero. The Bengali version does not.

Exhibit 1CriticalRarely seen

আপনার মার্জিন শেষ হয়ে গেলে আমরা পজিশন বন্ধ করার চেষ্টা করব। তবে এটি সম্ভব হবে বলে আমরা নিশ্চয়তা দিতে পারি না। তাই এর ফলে তৈরি হওয়া যেকোনো ঘাটতির দায় আপনারই থাকবে।
Clause 18 in ঝুঁকি সংক্রান্ত বিবৃতি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Headline promise on the Bengali negative balance protection pageVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause 18Visit this page on the broker's siteDownload the full size image file

Buried at section 43 of 54 in the ঝুঁকি সংক্রান্ত বিবৃতি, 80% of the way through.

Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA and under ESMA rules must give retail clients negative balance protection, so a retail account cannot go below zero. This contract leaves the Bengali client liable for the shortfall.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 4One clause leaves you owing money on a loss, the other hands your deposit to MTrading before the loss happens.
  • Worse together with Exhibit 6The missing protection and the stale leverage cap are in the same Bengali document, which lags the English one.
02

Leave an account untouched for a year and MTrading charges 50 USD a month, on every trading account and every wallet you hold. After three years of no activity it can take whatever balance is left.

Why this matters

Deposits, withdrawals and opening or closing a trade count as activity. Swaps, commissions, interest and dividends do not. A small account you stop using is emptied by the fee, and then closed.

Exhibit 2CriticalRarely seen$50

নিষ্ক্রিয়তার ফি প্রতি মাসে 50 USD। প্রতিটি নিষ্ক্রিয় ট্রেডিং অ্যাকাউন্ট ও ওয়ালেটের জন্য আলাদাভাবে এই ফি প্রযোজ্য হবে।
Clause 7.1 (vii) in শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026A year idle, then 50 USD a month, then the balance (clause 7.1 (vii))Visit this page on the broker's siteDownload the full size image file

Buried at section 132 of 211 in the শর্তাবলি, 63% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose all costs and charges to a retail client before they trade, and must still account for client money sitting in a dormant account. This contract puts the fee in clause 7.1 and lets MTrading keep the balance after three years.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
After one year of no activityMTrading treats the account as inactive. Only a deposit, a withdrawal or opening or closing a position counts as activity.7.1 (vii)
Every month after thatA 50 USD monthly fee is charged, separately for each inactive trading account and each wallet.7.1 (vii)
After three yearsMTrading can take the remaining balance of a client who has been inactive that long.7.1 (vii)
Open trades older than three yearsMTrading force closes the positions at the market price at the time of closing.7.1 (vii)
  • Same clause as Exhibit 3The same clause sets a different monthly amount in MTrading's English version, and nothing says which one binds you.
03

MTrading's dormancy fee is 50 USD a month if you read the Bengali terms and 100USD a month if you read the English ones. It is the same clause 7.1 (vii) in both, and neither version says which language governs.

In plain words

Dormancy means an account left unused.

Why this matters

You agree to the version you can read, then the charge can double. MTrading knows how to settle this. Its deposit bonus terms say the English version prevails, and the client agreement has no such clause.

Exhibit 3CriticalRarely seen$100

নিষ্ক্রিয়তার ফি প্রতি মাসে 50 USD।
Clause 7.1 (vii) in শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Clause 7.1 (vii) of the Bengali version of the same client agreementVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause 7.1 (vii)Visit this page on the broker's siteDownload the full size image file

Buried at section 132 of 211 in the শর্তাবলি, 63% of the way through.

  • Same clause as Exhibit 2The dormancy ladder and the language gap are the same clause read two ways.
04

When your money arrives you hand MTrading full ownership of as much of it as MTrading decides it needs. The risk disclosure says that money is not kept separately and MTrading may deal with it on its own account.

Why this matters

MTrading decides every day how much of your balance to take title to, and the contract says that amount can be more than your margin requirement. If MTrading defaults, that money may never come back to you.

Exhibit 4CriticalHarder than usual

প্রযোজ্য আইনের অধীনে সময়ে সময়ে কার্যকর ক্লায়েন্টের অর্থ-সংক্রান্ত নিয়ম অনুযায়ী এই অর্থ পৃথকভাবে সংরক্ষণ বা অন্য কোনো দায়বদ্ধতার আওতায় থাকবে না এবং MTrading নিজস্ব হিসাবে তা ব্যবহার করতে পারবে।
Clause 13 in ঝুঁকি সংক্রান্ত বিবৃতি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Safety card on the Bengali negative balance protection page, followed by a line saying MTrading never uses those funds to cover account lossesVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause 13Visit this page on the broker's siteDownload the full size image file

Buried at section 35 of 54 in the ঝুঁকি সংক্রান্ত বিবৃতি, 65% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must hold retail client money in segregated accounts, kept apart from the firm's own funds. This contract says the money is not segregated and that MTrading may use it on its own account.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 1Your deposit is transferred to MTrading, and the Bengali contract does not promise to stop your losses at that deposit.
05

You can ask for your money at any time, but MTrading sets no time limit for paying it. It can hold the payment, or deduct from it, on five listed grounds, and one of them is a dispute with you that is still open.

Why this matters

Raising a problem can therefore freeze your payment, and nothing in the contract says when that hold has to end. MTrading's payments page meanwhile promises instant deposits and withdrawals.

Exhibit 5CriticalHarder than usual5

ServiceComsvg LLC নিজস্ব বিবেচনায় অর্থপ্রদান আটকে রাখতে (অথবা প্রযোজ্য ক্ষেত্রে তা থেকে একটি পরিমাণ কেটে নিতে) পারে, যদি:
Clause 3.8 in শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Headline of the Bengali payment systems pageVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause 3.8Visit this page on the broker's siteDownload the full size image file

Where it sits: section 71 of 211 in the শর্তাবলি, 34% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must pay a retail client's withdrawal promptly and must tell the client why a payment is being held. This contract names no timeframe at all.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7A dispute holds your money, and MTrading decides that dispute on records it is allowed to correct.
  • Worse together with Exhibit 8The same dispute that freezes the payment is also a listed ground for closing every position you hold.
06

MTrading's Bengali pages sell leverage of 1:8888, and its navigation bar carries that number as a headline. The Bengali Terms of Business you agree to say MTrading offers 1:1 up to 1:1000.

Why this matters

The English version of the same section says 1:8888, so the Bengali contract is behind the page that sold you the account. That Bengali document also lacks the swap free section the English one has, which matters if you cannot pay or receive interest.

Exhibit 6WarningHarder than usual

MTrading গ্রাহকদের 1:1 থেকে 1:1000 পর্যন্ত লিভারেজ দেয় (শুধু নির্দিষ্ট ধরনের ট্রেডিং অ্যাকাউন্টের ক্ষেত্রে প্রযোজ্য)।
Clause 12.1 in ব্যবসার শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 20261:8888 leverage on the page, 1:1000 in the contract (clause 12.1)Visit this page on the broker's siteDownload the full size image file

Buried at section 171 of 187 in the ব্যবসার শর্তাবলি, 91% of the way through.

  • Worse together with Exhibit 1Both gaps come from the same stale Bengali document: a lower leverage cap and no protection clause.

A dispute, or a price MTrading calls wrong, can undo your trades

MTrading's Terms of Business list a dispute over any customer trade as a ground to liquidate every position, with no notice and no margin call. Clause 7.3 says you carry the losses and have no right to any profit the liquidation makes. Clause 5.10 of the terms also lets MTrading cancel a trade struck on a price it decides was materially wrong, even one it had confirmed.

Positions undone2 clauses flagged

A dispute about your trades is among the listed grounds for MTrading to liquidate every position in your account. It can do that at any time, in any market it thinks necessary, with no prior notice and no margin call.

Why this matters

You carry every loss and cost the liquidation creates, and you get no share of any profit it produces. You also give up in advance any right to notice or demand.

Exhibit 8CriticalRarely seen

গ্রাহকের কোনো ট্রেড নিয়ে বিরোধ দেখা দিলে;
Clause 7.1.2 in ব্যবসার শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026A dispute over a trade lets MTrading close every position (clause 7.1.2)Visit this page on the broker's siteDownload the full size image file

Buried at section 134 of 187 in the ব্যবসার শর্তাবলি, 72% of the way through.

  • Worse together with Exhibit 7The dispute that triggers the close out is then settled on MTrading's own records.

MTrading can treat a trade as not binding where the price it quoted was materially wrong, even after it confirmed the trade. It can also cancel trades it reads as arbitrage on a delayed or mistaken price.

Why this matters

A winning trade can be unwound after you have seen the profit. The clause cuts both ways and only covers prices that were clearly wrong, but MTrading decides which prices those were.

Exhibit 11WarningHarder than usual

দামের বিলম্ব বা অন্য কোনো স্পষ্ট ভুলের সুযোগ নেওয়ার উদ্দেশ্যে করা কোনো আরবিট্রাজ পদ্ধতি বা কৌশল ServiceComsvg LLC অনুমোদন করবে না এবং এ ধরনের ভুলের ওপর নির্ভর করে ক্লায়েন্ট যে চুক্তি করেছেন, তা বাতিল করার অধিকার ServiceComsvg LLC সংরক্ষণ করে।
Clause 5.10 in শর্তাবলি
Read from the broker's site on Open the reference

Where it sits: section 124 of 211 in the শর্তাবলি, 59% of the way through.

  • Worse together with Exhibit 7MTrading judges which price was wrong, and it may also change the stored history of that price.

MTrading's deposit bonus holds your withdrawals and moves your stop out closer

While the deposit bonus is active, MTrading does not process a withdrawal that would cut your free margin by more than 70%, and any withdrawal at all strips the whole bonus. You get 180 calendar days to trade the required volume, and until then the bonus money is MTrading's property. These terms sit on a promotions page, not in the legal section of the site.

Bonus lock1 clause flagged

Take MTrading's deposit bonus and a withdrawal that would cut your free margin by more than 70% is simply not processed. Until you trade the required volume, the bonus money counts as MTrading's property.

Why this matters

The bonus also brings forward the point where your trades are closed, because stop out triggers once your equity drops below the bonus amount. You get 180 calendar days to trade the volume, and any withdrawal removes the whole bonus.

Exhibit 10CriticalHarder than usual70%

বোনাসের স্তর স্বয়ংক্রিয়ভাবে কমানোর বিষয়টি বিবেচনায় নেওয়ার পর, কোনো উত্তোলনের অনুরোধের ফলে অ্যাকাউন্টের ফ্রি মার্জিন মোট 70%-এর বেশি কমে গেলে সেই অনুরোধ প্রক্রিয়া করা হবে না—ক্লায়েন্ট এতে সম্মত হন।
Clause ডিপোজিট বোনাস কীভাবে উত্তোলন করবেন in "ডিপোজিট বোনাস"-এর শর্তাবলি
Downloaded from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The deposit bonus locks withdrawals and moves your stop out (clause ডিপোজিট বোনাস কীভাবে উত্তোলন করবেন)Visit this page on the broker's siteDownload the full size image file

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
On taking the bonusThe bonus money counts as MTrading's property until you trade the required volume.বিবিধ
Any withdrawalThe whole bonus is removed from your account.ডিপোজিট বোনাস কীভাবে উত্তোলন করবেন
A withdrawal cutting free margin by more than 70%MTrading does not process the request.ডিপোজিট বোনাস কীভাবে উত্তোলন করবেন
Day 180If the trading volume is unmet, MTrading can cancel your eligibility for any active bonus.ডিপোজিট বোনাস কীভাবে পাবেন
  • Worse together with Exhibit 5The bonus blocks the withdrawal by formula, and the client agreement sets no deadline for paying what is left.

The only record of what happened belongs to MTrading, and it can be corrected

MTrading reserves the right to refresh, update and change historical quote data whenever it thinks that reasonable, then settles chart disputes on its server logs and the corrected data alone. You have 24 hours to report an order it confirmed in error. The documents give you no complaints procedure, no deadline on the company and no independent body to appeal to.

Evidence1 clause flagged

MTrading keeps the right to refresh, update and change historical quote data whenever it considers that reasonable. If you dispute a chart or a trade, it decides using only its own server logs and the corrected chart data.

Why this matters

The record you would use to prove you were right is held by the firm you are arguing with, and that firm may edit it. These documents give you no complaints procedure and no independent body to appeal to.

Exhibit 7CriticalRarely seen

ত্রুটি সংশোধন, সার্ভার বন্ধ থাকার কারণে তৈরি হওয়া ফাঁক পূরণ এবং MTrading-এর একক বিবেচনায় যুক্তিসংগত বলে মনে করা অন্য যেকোনো উদ্দেশ্যে ঐতিহাসিক কোটের তথ্য রিফ্রেশ, আপডেট ও পরিবর্তন করার অধিকার MTrading-এর রয়েছে।
Clause 13.1 in ব্যবসার শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026MTrading can change the price history, then judge your dispute on it (clause 13.1)Visit this page on the broker's siteDownload the full size image file

Buried at section 178 of 187 in the ব্যবসার শর্তাবলি, 95% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must run a written complaints procedure with fixed response deadlines and must tell a retail client how to escalate to an independent ombudsman. MTrading's client agreement does not mention complaints at all.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 18MTrading's records decide the dispute, and handing you a copy of them is MTrading's own decision.
  • Worse together with Exhibit 8Opening a dispute is itself a listed ground for liquidating your positions.

MTrading's agreement makes three sections binding that it does not publish

The agreement ends at section 12, then tells you that sections 13, 14 and 16 survive its termination. Section 16.10 is the governing law and jurisdiction clause, and no reader of this contract can see it. The English version of the same document has exactly the same gap.

Missing clauses1 clause flagged

MTrading's agreement ends at section 12, then tells you that sections 13, 14 and 16 still bind you after termination. The clause naming the governing law and the courts is one of the missing ones.

In plain words

Indemnities are money it says you owe it.

Why this matters

You cannot tell which country's law applies to your account, or where you would have to sue. Clause 5.6 limits MTrading's liability by pointing at clauses 10.4 and 10.5, and the published section 10 stops at 10.3. The English version has the same gap.

Exhibit 9CriticalRarely seen3

10 নম্বর ধারা (ক্ষতিপূরণ ও দায়বদ্ধতার সীমাবদ্ধতা), 14 নম্বর ধারা (গোপনীয়তা) এবং 16.10 নম্বর ধারার (প্রযোজ্য আইন ও এখতিয়ার) অধীনে থাকা বাধ্যবাধকতাগুলো এই চুক্তি শেষ হওয়ার পরও কার্যকর থাকবে।
Clause 9.4 in শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026Three sections of the agreement are binding but not published (clause 9.4)Visit this page on the broker's siteDownload the full size image file

Buried at section 154 of 211 in the শর্তাবলি, 73% of the way through.

  • Worse together with Exhibit 7No complaints procedure, no named court and no governing law leaves nowhere to take the argument.

MTrading's Bengali contract is not the contract its Bengali pages describe

Clause 7.1 of MTrading's terms sets the dormancy fee at 50 USD a month in Bengali and 100USD a month in English. The same split runs through the documents: the Bengali Terms of Business has 13 sections against 15 in English, and the two it lacks are negative balance protection and swap free accounts. Its leverage clause still caps at 1:1000 while the Bengali page that sells the account promises 1:8888.

Language arbitrage1 clause flagged

MTrading's footer says client interests are protected by the Financial Commission's compensation fund for up to €20 000 per claim. None of its five legal documents mentions that fund, that cover, or any route to a complaint.

Why this matters

The risk disclosure says the money you hand over may be irrecoverable if MTrading defaults. A promise that is not in your contract is not a promise you can enforce.

Exhibit 19Warning

তাই MTrading দেউলিয়া হলে বা খেলাপি হলে এই অর্থ ফেরত পাওয়া নাও যেতে পারে।
Clause 13 in ঝুঁকি সংক্রান্ত বিবৃতি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Site wide footer on the Bengali pagesVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause 13Visit this page on the broker's siteDownload the full size image file

Buried at section 35 of 54 in the ঝুঁকি সংক্রান্ত বিবৃতি, 65% of the way through.

The list of charges you agree to is not in the agreement

Clause 1.8 puts every charge and commission into a Contract Specifications document that MTrading does not publish in its legal section, and clause 7.2 lets those charges vary at its own discretion. The payments page promises no hidden charges, while MTrading's own bonus terms say most deposit methods carry a third party commission or fee. Clause 7.1 lets MTrading debit your account for losses, commissions, dividend adjustments, interest and other fees.

Cost disclosure1 clause flagged

MTrading's payments page promises no hidden charges. Its own bonus terms say most deposit methods carry a third party commission or fee, and the agreement keeps the whole charge list in a separate Contract Specifications document.

Why this matters

You cannot read your costs in the contract you sign. MTrading can also debit your account for losses, commissions, dividend adjustments, interest and other fees, and it can set off what it says you owe with no notice to you.

Exhibit 15WarningHarder than usual

এই চুক্তির অধীনে ServiceComsvg LLC-এর প্রযোজ্য সব চার্জ ও কমিশন Contract Specifications-এ উল্লেখ করা হয়েছে।
Clause 1.8 in শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Opening line of the Bengali payment systems pageVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause বিবিধVisit this page on the broker's siteDownload the full size image file

Where it sits: section 45 of 211 in the শর্তাবলি, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before they trade. This contract puts the charges in a document it does not publish in its legal section, and lets them change at its own discretion.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 2The one charge the contract does name, the dormancy fee, is the one the payments page does not mention.

MTrading can change your terms, your margin and your leverage while you hold positions

New margin requirements apply immediately to positions you already hold, leverage changes with no prior notice, and charges vary at MTrading's discretion. MTrading may also act on instructions from a person who appears to be you but is not. With no position open, it can close your account the same day instead of giving 10 working days notice.

Changed without notice3 clauses flagged

The account terms let MTrading follow instructions from anyone who appears to be you or your appointed attorney, even where that person is neither. Every order placed with your login stays your responsibility.

Why this matters

Report a stolen password and the liability does not move. MTrading says it is not responsible when a virus takes your password and someone trades your account.

Exhibit 12WarningHarder than usual

ServiceComsvg LLC অ্যাটর্নি বা ক্লায়েন্ট কিংবা অ্যাটর্নি বলে মনে হয় এমন কোনো ব্যক্তির পাঠানো মৌখিক, লিখিত বা ইলেকট্রনিক নির্দেশনা অনুযায়ী কাজ করার অনুমতি পাবে, যদিও ওই ব্যক্তি প্রকৃতপক্ষে ক্লায়েন্ট বা অ্যাটর্নি না হন।
Clause 3.6 in শর্তাবলি
Read from the broker's site on Open the reference

Where it sits: section 66 of 211 in the শর্তাবলি, 31% of the way through.

MTrading can rewrite your trading conditions while your positions are open. New margin requirements apply immediately, leverage changes with no prior notice, and charges vary at MTrading's own discretion.

Why this matters

A leverage cut or a margin rise can push your account straight into a forced close. You get no warning and no chance to add funds first.

Exhibit 13WarningHarder than usual

ServiceComsvg LLC নতুন মার্জিনের শর্ত লিখিতভাবে ক্লায়েন্টকে জানালে, বিজ্ঞপ্তি দেওয়ার সময় ক্লায়েন্টের খোলা থাকা সব ট্রেডিং পজিশনেও নতুন শর্ত অবিলম্বে প্রযোজ্য হবে।
Clause 4.1 in শর্তাবলি
Read from the broker's site on Open the reference

Where it sits: section 46 of 211 in the শর্তাবলি, near the start.

MTrading gives you 10 working days notice to end the agreement, unless you have no open positions. With nothing open, it can terminate immediately.

Why this matters

Any client not holding a trade can be shown the door the same day. On termination MTrading first deducts everything it says you owe, then moves what is left to you.

Exhibit 14WarningHarder than usual10 working days

এই চুক্তি বাতিল করার জন্য ServiceComsvg LLC যেকোনো সময় ক্লায়েন্টকে 10 কর্মদিবসের নোটিশ দিতে পারে।
Clause 9.1 in শর্তাবলি
Read from the broker's site on Open the reference

Buried at section 150 of 211 in the শর্তাবলি, 71% of the way through.

MTrading's published AML policy is not the one its sign up form runs

The AML policy says that without exception a new client must be introduced by an existing client, and that identity photocopies are taken on the company's premises. Neither is possible at a sign up form open to anyone. That policy also asks for your marital status, your spouse's name and your parents' names, and the privacy policy leaves access to your own file to a manager's decision.

Onboarding and data2 clauses flagged

MTrading's AML policy says that without exception a new client must be introduced by an existing client, or already have a relationship with the company. Its sign up page asks for none of that.

Why this matters

The published policy is not the one running at the sign up form, so you cannot tell what MTrading will demand of you or when. The same policy asks for your marital status, your spouse's name and your parents' names.

Exhibit 17WarningRarely seen

কোনো ব্যতিক্রম ছাড়াই, সম্ভাব্য নতুন ক্লায়েন্টকে অবশ্যই একজন বিদ্যমান ক্লায়েন্টের মাধ্যমে পরিচয় করিয়ে দিতে হবে এবং/অথবা কোম্পানির সঙ্গে তার আগে থেকেই সম্পর্ক থাকতে হবে।
Clause 2.2.3 in AML নীতিমালা
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 62 of 127 in the AML নীতিমালা, 49% of the way through.

MTrading's privacy policy leaves it to the executive manager to decide whether you may see the data held about you, and whether you get a copy. The policy never names MTrading or ServiceComsvg LLC.

Why this matters

In a dispute MTrading's own records are the evidence, and giving you a copy is its own choice. You have no stated route to the file that settles the argument.

Exhibit 18WarningHarder than usual

ডেটা দেখার অনুমতি দেওয়া বা না দেওয়া এবং ডেটার কপি দেওয়ার সিদ্ধান্ত নেবেন FX Firm-এর নির্বাহী ব্যবস্থাপক।
Clause 2.2 in গোপনীয়তা নীতি
Read from the broker's site on Archived copyOpen the reference

Buried at section 20 of 30 in the গোপনীয়তা নীতি, 67% of the way through.

  • Worse together with Exhibit 7MTrading's records decide a dispute, and both the privacy policy and clause 12.5 make access to them discretionary.

MTrading is the other side of your trade and sets the price itself

Clause 1.6 says MTrading does not normally owe you a best execution duty, because it deals with you on its own quotes. The footer of that same page says its execution complies with best execution standards. The contract names no outside benchmark for the prices MTrading quotes.

Who you trade against1 clause flagged

Every MTrading page says its execution quality complies with best execution standards. Clause 1.6 of the terms says MTrading does not normally owe you a best execution duty, because it deals with you on its own quotes.

Why this matters

MTrading is the other side of your trade and it sets the price you get. The contract names no outside benchmark to measure that price against.

Exhibit 16WarningStandard wording

ServiceComsvg LLC সাধারণত ক্লায়েন্টের প্রতি সর্বোত্তম এক্সিকিউশনের দায়িত্ব পালন করে না।
Clause 1.6 in শর্তাবলি
Read from the broker's site on Open the reference
Our own capture of mtrading.com, taken on Oct 11, 2026The claim, on Site wide footer, which appears on the legal pages themselvesVisit this page on the broker's siteDownload the full size image file
Our own capture of mtrading.com, taken on Oct 11, 2026What the contract says, clause 1.6Visit this page on the broker's siteDownload the full size image file

Where it sits: section 40 of 211 in the শর্তাবলি, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC owe retail clients a best execution duty and must publish how they meet it. Dealing on your own quotes as principal is ordinary for a market maker, but this contract removes the duty while the pages advertise the standard.

MTrading is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Four different jurisdictions appear across MTrading's five legal documents

You contract with ServiceComsvg LLC, which clause 1.1 places in Nevis and the footer registers in Saint Vincent and the Grenadines. The risk disclosure writes MTrading's duties under the IFSC, and the privacy policy answers to a Financial Services Authority. No licence number appears in any of the five documents, and the only mention of segregation says your money is not segregated.

Who holds your money1 clause flagged

MTrading's contract gives ServiceComsvg LLC a registered address in Nevis. The footer of that same page registers it in Saint Vincent and the Grenadines. The risk disclosure writes its duties under the IFSC, and the privacy policy answers to a Financial Services Authority.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

You cannot tell from these documents which authority, if any, supervises the firm holding your money. None of the five gives a licence number.

Exhibit 20Notice4

এই ব্যবসায়িক শর্তাবলি (ServiceComsvg LLC Terms of Business) ServiceComsvg LLC (“ServiceComsvg LLC”), যার নিবন্ধিত ঠিকানা Unit 5, Long Stone House, PO box 1200, Main street, Charlestown, Nevis, এবং আপনার (“ক্লায়েন্ট”) মধ্যে সম্পাদিত হয়েছে।
Clause 1.1 in শর্তাবলি
Read from the broker's site on Open the reference

Where it sits: section 19 of 211 in the শর্তাবলি, near the start.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page guarantees your loss stops at your deposit, and the risk disclosure makes you liable for whatever is left over.

Said in public, in Bengali

MTrading নিশ্চয়তা দেয় যে আপনার প্রাথমিক ডিপোজিটের বেশি কোনো ক্ষতি হবে না.

Word for word in English: MTrading guarantees that you will not have any loss greater than your initial deposit.

Headline promise on the Bengali negative balance protection page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

In the contract · clause 18

আপনার মার্জিন শেষ হয়ে গেলে আমরা পজিশন বন্ধ করার চেষ্টা করব। তবে এটি সম্ভব হবে বলে আমরা নিশ্চয়তা দিতে পারি না। তাই এর ফলে তৈরি হওয়া যেকোনো ঘাটতির দায় আপনারই থাকবে।

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

02

The page says your funds are completely safe, and the risk disclosure says they are not segregated and MTrading may use them itself.

Said in public, in Bengali

আপনার ফান্ড আমাদের কাছে সম্পূর্ণ সুরক্ষিত

Word for word in English: Your funds are completely safe with us

Safety card on the Bengali negative balance protection page, followed by a line saying MTrading never uses those funds to cover account losses

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

In the contract · clause 13

প্রযোজ্য আইনের অধীনে সময়ে সময়ে কার্যকর ক্লায়েন্টের অর্থ-সংক্রান্ত নিয়ম অনুযায়ী এই অর্থ পৃথকভাবে সংরক্ষণ বা অন্য কোনো দায়বদ্ধতার আওতায় থাকবে না এবং MTrading নিজস্ব হিসাবে তা ব্যবহার করতে পারবে।

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

03

The same numbered clause prices the dormancy fee at 50 USD a month in Bengali and 100USD a month in English.

Said in public, in Bengali

নিষ্ক্রিয়তার ফি প্রতি মাসে 50 USD।

Word for word in English: The inactivity fee is 50 USD per month.

Clause 7.1 (vii) of the Bengali version of the same client agreement

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

In the contract · clause 7.1 (vii)

The inactivity fee is 100USD per month. The fee is imposed on each separate inactive trading account and wallet.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

04

Withdrawals are advertised as instant, while the contract lets MTrading hold the payment at its own discretion and sets no deadline to pay.

Said in public, in Bengali

তাৎক্ষণিক ডিপোজিট ও উত্তোলন

Word for word in English: Instant deposits and withdrawals

Headline of the Bengali payment systems page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

In the contract · clause 3.8

ServiceComsvg LLC নিজস্ব বিবেচনায় অর্থপ্রদান আটকে রাখতে (অথবা প্রযোজ্য ক্ষেত্রে তা থেকে একটি পরিমাণ কেটে নিতে) পারে, যদি:

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

05

The footer claims compliance with best execution standards, and clause 1.6 says MTrading does not normally owe that duty.

Said in public, in Bengali

MTrading-এর এক্সিকিউশনের মান VMT দ্বারা নিশ্চিত করা হয়েছে এবং এটি সর্বোত্তম এক্সিকিউশন মানদণ্ড মেনে চলে.

Word for word in English: MTrading's execution quality is confirmed by VMT and complies with the best execution standards.

Site wide footer, which appears on the legal pages themselves

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

In the contract · clause 1.6

ServiceComsvg LLC সাধারণত ক্লায়েন্টের প্রতি সর্বোত্তম এক্সিকিউশনের দায়িত্ব পালন করে না।

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

06

The payments page promises no hidden charges, while MTrading's own bonus terms say most deposit methods carry a third party fee.

Said in public, in Bengali

সব জনপ্রিয় পেমেন্ট পদ্ধতি—দ্রুত ও নিরাপদে, কোনো লুকানো চার্জ ছাড়াই।

Word for word in English: All popular payment methods, fast and secure, with no hidden charges.

Opening line of the Bengali payment systems page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

In the contract · clause বিবিধ

বেশিরভাগ ডিপোজিট পদ্ধতিতে তৃতীয় পক্ষের কমিশন বা ফি প্রযোজ্য হয়।

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

07

Every page promises €20 000 of compensation cover, and the risk disclosure says your money may be irrecoverable if MTrading defaults.

Said in public, in Bengali

MTrading গ্রাহকদের স্বার্থ ফিন্যান্সিয়াল কমিশনের ক্ষতিপূরণ তহবিলের মাধ্যমে প্রতিটি দাবির জন্য €20 000 পর্যন্ত সুরক্ষিত.

Word for word in English: The interests of MTrading clients are protected by the Financial Commission's compensation fund for up to €20 000 per claim.

Site wide footer on the Bengali pages

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In the contract · clause 13

তাই MTrading দেউলিয়া হলে বা খেলাপি হলে এই অর্থ ফেরত পাওয়া নাও যেতে পারে।

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mtrading.com

08

The Bengali page applies 1:8888 to every account, and the Bengali contract offers a maximum of 1:1000.

Said in public, in Bengali

আপডেটের পর 1:8888 লিভারেজ স্বয়ংক্রিয়ভাবে সমস্ত বিদ্যমান ট্রেডিং অ্যাকাউন্টে প্রয়োগ করা হবে.

Word for word in English: After the update, 1:8888 leverage will be applied automatically to all existing trading accounts.

Answer in the FAQ of the Bengali leverage page, which is titled 1:8888 লিভারেজ

In the contract · clause 12.1

MTrading গ্রাহকদের 1:1 থেকে 1:1000 পর্যন্ত লিভারেজ দেয় (শুধু নির্দিষ্ট ধরনের ট্রেডিং অ্যাকাউন্টের ক্ষেত্রে প্রযোজ্য)।

The documents this reading is based on

9 files, all published by MTrading. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording MTrading publishes.

How this reading was done

Every clause above was read out of a document MTrading publishes itself

This reading was published on .

Documents
5 of 9downloaded from the broker's site, and 5 read in full
Pages opened
41pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
BN vs ENthe language it advertises in, against the language it contracts in
Position measured
19clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

ServiceComsvg LLC

You contract with ServiceComsvg LLC. MTrading is the brand. Clause 1.1 of the terms gives the company a registered address at Unit 5, Long Stone House, PO box 1200, Main street, Charlestown, Nevis. The footer of that same page registers it at PO Box 2897, Euro House, Richmond Hill Road, Kingstown, Saint Vincent and the Grenadines, with registration number 1593 LLC 2021. The risk disclosure writes MTrading's duties as arising under the IFSC, and the privacy policy answers to a Financial Services Authority. No licence number appears in any of the five documents, and 1593 LLC 2021 is a company number, not a licence.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

MTrading publishes all five of its legal documents as readable web pages, in Bengali and 12 other languages. Most brokers publish an English PDF and nothing else. The risk disclosure is detailed and unusually blunt. It states that MTrading is your counterparty, that your money is not segregated, that a stop loss order may not be honoured, and that your money may be irrecoverable if the firm defaults. The Terms of Business set out execution timings, requotes and queue order in enough detail for a client to check what happened to an order. Clause 5.4 is a real protection and worth naming: MTrading says it cannot refuse an order to close a position you already hold.

We read MTrading's five Bengali legal documents in full. We also read parts of three English documents on MTrading's own site: the Terms and Conditions, the Terms of Business and the risk disclosure. Every English quotation here comes from those pages. The deposit bonus terms are not in the site's legal section. We found them from a promotions page and read all of them except the definitions at the end. No earlier version of any of these documents is available, so this is a first reading with nothing to compare against. Two gaps are worth naming. The Contract Specifications that clause 1.8 says holds every charge is not published as a legal document, so we could not check the fee list the contract relies on. MTrading also publishes no terms for its copy trading, its IB programme or its VIP IB club.

How to check any of this yourself

Every quote above links to the MTrading file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document MTrading publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge MTrading on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 11, 2026.

If you represent MTrading and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on MTrading. Whether its licence is real and current is a separate check on the broker profile.

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