Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighThe company that holds client funds (ServiceComsvg LLC, St Vincent) has no financial regulator, and Malaysia's regulator lists the site for unlicensed activity; credited down from 9 to 10 for a genuine but separate group FSC Mauritius dealer licence and active Financial Commission membership.
Identity & transparency
5/10 · ModerateThe trading entity, address and registration number are disclosed, but the licensed company (MTR Invest Ltd, Mauritius) differs from the one in the client agreement (ServiceComsvg LLC), ownership is not disclosed, and the St Vincent registration cannot be checked on a public registry.
Withdrawals & conduct
5/10 · ModerateA real but unconfirmed pattern of withdrawal delays, blocked withdrawals and post profit account closures across two platforms, set against a mostly positive review base and a broker that answers about a third of complaints.
Reputation
6/10 · HighTrustpilot leans positive (3.8 of 5 over about 170 reviews), but a national regulator alert and recurring scam themed complaint threads pull the overall reputation down.
Website claims
5/10 · ModerateSuperlatives such as Worlds #1 Bonus Broker and a since 2012 claim that runs a year or two ahead of the evidence; safety is framed around Financial Commission membership and an execution badge rather than real regulation.
Operational history
6/10 · HighGenuinely established: MTrading branded since about 2013 to 2014, Financial Commission member since 2014, domain from 2004; the current St Vincent entity was re-registered in 2021.
Who they are
A quick desk file on the company behind the brand.
- Brand: MTrading
- Legal entity: ServiceComsvg LLC (the counterparty named in the client agreement)
- Registered: PO Box 2897, Euro House, Richmond Hill Road, Kingstown, Saint Vincent and the Grenadines, VC0100; registration number 1593 LLC 2021
- Website: mtrading.com (domain first registered 2004; MTrading branding from about 2013 to 2014)
- Regulation: none for the entity that holds client funds; St Vincent does not regulate forex
- Also on record: a separate Mauritius company, MTR Invest Ltd, holds an FSC Investment Dealer (Broker) licence issued 11 January 2024
- Membership: Financial Commission (external dispute resolution, up to EUR 20,000 per complaint) and a VerifyMyTrade execution badge
- Offers: forex and CFDs on MetaTrader, high leverage, deposit bonuses
- Not accepted: residents of a published list of restricted countries
- Age claim: Number one since 2012, 13+ years
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
Financial Commission (Finacom)
Saint Vincent and the Grenadines (company registry)
Found by our investigation (1) — the broker does not list these on its own site
Financial Services Commission (FSC), Mauritius
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We reach a high risk, likely unsafe rating for four main reasons:
- The company that holds client money, ServiceComsvg LLC, is registered only in St Vincent and the Grenadines, which does not license or supervise forex and CFD brokers. The operator therefore has no real financial regulator.
- Securities Commission Malaysia lists the exact website mtrading.com on its Investor Alert List (added 2023) for carrying on unlicensed capital market activities of dealing in securities. A national regulator naming this specific domain is our strongest single piece of evidence.
- MTrading markets heavily in countries where it is not licensed, including Malaysia and India, using local language channels and regional social accounts.
- The only genuine dealer licence we found (FSC Mauritius, issued January 2024) belongs to a different company, MTR Invest Ltd, that is not named in the MTrading client agreement, so it does not protect mtrading.com clients.
On our scorecard the weighted average is near 56 percent, but a confirmed regulator warning of this kind sets a floor of 70 percent, which is the figure we publish. We stop short of a confirmed scam rating because MTrading is a real, long running business with a mostly positive review record and an active dispute scheme, and we found no proof of systematic theft.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Securities Commission Malaysia lists the exact website mtrading.com (with facebook.com/MTradingGlobal and t.me/MTradingMY) on its Investor Alert List, added 2023, with the remark 'Carrying on unlicensed capital market activities of dealing in securities'. A national regulator has flagged this specific operation.
E2The binding client agreement names ServiceComsvg LLC, registered in St Vincent and the Grenadines (number 1593 LLC 2021), as the counterparty that holds client funds, and cites no financial regulator licence. St Vincent does not license or supervise forex brokers.
E3MTrading actively solicits clients in jurisdictions where it is not licensed, running regional Malaysia and Asia channels (youtube @MTradingMYS, instagram mtradingasia, facebook mtradingsea) and targeting markets such as India, none of which its licences cover.
StrongMTrading websiteE4MTrading is a current, active participating member of the Financial Commission, an external dispute resolution scheme, with access to a compensation fund of up to EUR 20,000 per upheld complaint. This is a genuine but limited backstop, not government regulation.
E5The FSC Mauritius public register confirms a genuine SEC-2.2 Investment Dealer (Broker) licence dated 11 January 2024 held by MTR Invest Ltd (managed by Loita Management Services, Port Louis). This entity is not named in the MTrading client agreement, so the licence does not cover mtrading.com clients.
E6Trustpilot shows about 170 reviews at 3.8 of 5 (62 percent 5 star, 19 percent 1 star). Negative reviews mix fund access issues (withdrawal obstruction, a 2FA error blocking withdrawals) with service and platform complaints; the company replies to roughly a third of negatives.
ModerateTrustpilotE7A minority of reviewers report fund integrity problems: withdrawals delayed or blocked, and accounts closed after profits citing bonus or leverage rules, including a forum thread alleging a loss of about USD 15,460. The pattern is real but not confirmed as systematic.
ModerateTrustpilot and trader forumsE8The mtrading.com domain was first registered on 2004-05-10, and archived copies show MTrading branding from about 2013 to 2014, consistent with Financial Commission membership since 2014. The operation is genuinely established, roughly 12 to 13 years old.
The other side
The strongest case in this broker’s favour.
In fairness, several things point the other way:
- MTrading has operated for roughly 12 to 13 years under one brand, which most pure scams never manage.
- Its Trustpilot record is mostly positive (about 170 reviews, 3.8 of 5), and the company replies to a large share of complaints.
- It is a current, active member of the Financial Commission, with access to a compensation fund of up to EUR 20,000 per upheld complaint.
- A related group company genuinely holds an FSC Mauritius investment dealer licence, which is more than many offshore brands can show.
- It is not a clone, and we found no warning from the FCA, BaFin or other major European regulators, and no fraud related court record naming the entity.
These factors are why we did not rate it a confirmed scam. They do not cancel out an unregulated operator combined with a live national regulator alert.
What would change this
What we would need to see to revise the verdict.
We would revise this rating if:
- The company that actually holds client deposits obtained and displayed a licence from a top tier or well regarded regulator, verifiable on that regulator's own register.
- Securities Commission Malaysia, and any other regulator, removed mtrading.com from its alert list.
- MTrading moved its client contracts to the licensed Mauritius entity and disclosed that clearly.
- A clear, time clustered pattern of unpaid withdrawals with transaction detail emerged across several platforms, which would push the rating higher toward a scam finding.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
MTrading Terms of Business (legal entity disclosure)
Names ServiceComsvg LLC (St Vincent) as the company that holds client funds
Securities Commission Malaysia Investor Alert List
Search MTrading to see the alert naming mtrading.com for unlicensed activity
FSC Mauritius Online Public Register
Search MTR Invest Ltd to see the dealer licence held by the separate Mauritius entity
Financial Commission members list
Confirms MTrading is a current member of this dispute resolution scheme
Frequently asked questions
Quick answers about this broker’s safety.
Is MTrading a scam?
We rate MTrading high risk and likely unsafe. It is a real, long running broker, but the company that holds your money (ServiceComsvg LLC) is not regulated, and Malaysia's securities regulator has placed mtrading.com on its investor alert list for unlicensed activity. That does not prove theft, but it is a serious warning.
Is MTrading a fraud?
We have not seen a regulator or court find MTrading guilty of fraud, and we make no such finding. What we can confirm is that the trading entity is unregulated and that Securities Commission Malaysia flagged the website for unlicensed capital market activity. We assess the risk as high, so treat it with caution.
Is MTrading regulated?
Not in any meaningful way for the entity that takes your deposit. ServiceComsvg LLC is only a St Vincent company, and St Vincent does not license forex brokers. A separate group company in Mauritius (MTR Invest Ltd) holds an FSC dealer licence from January 2024, but it is not the company named in your MTrading agreement.
Can I withdraw my money from MTrading?
Most reviewers do get paid, but a steady minority report delays, 2FA errors that block withdrawals, and accounts closed after profits using bonus or leverage rules. Because the operator is unregulated, there is no government body that can force a payout if it refuses.
Is my money safe with MTrading?
Your funds sit with an unregulated St Vincent company, so there is no statutory client money protection. The only backstop is the Financial Commission fund, up to EUR 20,000 per upheld complaint, which is an industry service rather than a regulator.
Who owns MTrading?
The brand trades as ServiceComsvg LLC, registered in Kingstown, St Vincent and the Grenadines (number 1593 LLC 2021). The website does not disclose the ultimate owners or directors.
How old is MTrading?
The domain dates to 2004, but MTrading branding appears from about 2013 to 2014, and it has been a Financial Commission member since 2014. So it is a genuinely established operation, roughly 12 to 13 years old, even though the current St Vincent entity was registered in 2021.
What is the Financial Commission and is it a regulator?
The Financial Commission (Finacom) is an external dispute resolution body that brokers pay to join. It can mediate complaints and pay up to EUR 20,000 from its fund on an upheld case. It is not a government regulator and does not license or supervise trading.
Is MTrading a clone of another broker?
No. MTrading is its own long running brand, not an impersonation of another firm. A separate entry on the Malaysia alert list about CMC Markets clones happens to sit next to MTrading, but that is a different operator.
What does the Malaysia warning mean for me?
Securities Commission Malaysia says MTrading is not licensed to offer capital market services there. If you are in Malaysia you would be dealing with an unlicensed provider and would have no local protection. Other countries where it markets heavily, such as India, also require licences it does not hold.
What should I check before depositing with MTrading?
Confirm which legal entity your account contract names, check whether that entity holds a real trading licence in your country, read the bonus and withdrawal terms, and start with the smallest possible amount. Given the regulatory gaps, many cautious traders would choose a top tier regulated broker instead.
What can I do if I cannot withdraw or think I was scammed by MTrading?
Gather your deposit records, ticket numbers and chat logs, and file a complaint through the Financial Commission, since MTrading is a member. You can also report it to the regulator in your country. Be wary of recovery agents who ask for an upfront fee, as these are often follow up scams.
What we recommend
The practical takeaway from everything above.
If you are considering or already using MTrading:
- Treat it as an unregulated, high risk broker and do not deposit money you cannot afford to lose.
- If you are in Malaysia, India or another country that requires a local licence, understand you would be dealing with an unlicensed provider and have no local regulatory protection.
- If you have funds there, consider withdrawing a small test amount first and keep records of every transaction and chat.
- Use the Financial Commission complaint route if a dispute arises, and avoid upfront fee recovery services, which are often follow up scams.
- For real client money protection, prefer a broker licensed by a top tier regulator such as the FCA, ASIC or CySEC.
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 September 22, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
What traders say about MTrading
Comments on MTrading are posted on its profile
Nobody has commented on MTrading yet. If you have traded with them, your experience helps the next reader decide.
Write the first comment