MunFinance Review: the platform offers brokerage services in crypto trades and Foreign Exchanges. It also provides a Trading Home app.
But its fledgling PR is already marred by client reviews about the official website.
According to one customer’s review about the platform, MunFinance does not offer any trade securities. It promptly brandishes a registration form on a client’s first visit. After the pre-requisite sign-up, MunFinance reportedly requests the customer to fund his/her wallet. But it skips the preliminary trade conditions and SEC license stage.
What else is odd about the platform? Learn the answers in this MunFinance Review article.
MunFinance Review: Overview
Rendered in English, French, and Chinese, the MunFinance website offers optimized financial tools for CDFs and forex trades. It also contains different strong points attesting to the company’s credibility as a crypto/forex broker.
One of the published achievements of MunFinance is a CCTV Partners Securities Information Channel. So-called award registers as a fabrication on close examination.
MunFinance Review: we’ll get to the Ponzi flares on the platform later. Currently, let’s take a quick tour through the company services as listed on the website. The broker offers the following professional services on its trade counter:
Multiple Risk management _ involves an expert-overseen risk management procedure.
24/7 Trade _ also comes with a 5-day customer care service and deposit/withdrawal options.
Low Spread for all quoted trades on the platform.
Financial Safety _ commits to a safety contract by hinting at a foothold in a huge bank.
Fast Execution Speed, and lastly
Its manufactured awards _ entails Honorary Award, an incoherent reference to a CCTV partnership award, and a Satisfied Dealer Award.
MunFinance Review: as a pre-requisite, the platform asks for registration before you can access any packages it offers. There is no earning option for affiliates. Its sole earning scheme is the menu of some 82+ trade signals and CFDs leverages on the website. How credible are they?
MunFinance Review: Admin Info, Licenses
MunFinance Review: the first thing an investor ascertains about any foreign exchange broker is its trade license. We always reiterate that Licenses betokens trust and a legally binding contract between brokers and clients.
While MunFinance trades crypto securities and brokers FXM, it does not provide any evidence of license. Impliedly the company is unregulated.
Our MunFinance Review also finds no information about the Admin of the platform. All efforts to access more information about the nature of trades and volume of stocks on MunFinance prove futile. Instead, the website invariably requests a registration every time.
MunFinance Review: Products
The company is supposed to be a trade counter, so there are no products on its website. Clients will have to rely on Defi crypto trading through MunFinance’s Trading Home to make a profit.
Tangible goods aside, MunFinance offers 1:2000 leverage, trade options comprising commodities and stocks.
Our MunFinance Review gathers that the high leverage ratio is only a PR strategy. In the end, it confers no profitable advantage on an FXM/crypto trader.
MunFinance Review: volatilities trade on the platform through an MT4 trader. Without redirecting to other websites, the MunFinance website provides the download link to registered members. But that is where all its semblance to a credible Defi brokerage stops.
MunFinance Registration Issues
All ads for sophisticated trading on the MunFinance website lose their allure when you click on the registration page. It shows nothing beyond an email address and an email address confirmation code.
MunFinance Review: subsequently, you can access an account on the network which contains nothing much. The client profile is a blank slate showing no special financial instrument for trading.
Also, you do not have access to basic financial instruments. In the long run, you don’t get the services you signed up for.
How does that cut up the image of MunFinance as a credible broker? Even with the most liberal yardstick, MunFinance fails every test for credibility as an exchanges counter.
Special Offers: Trading Home Edge
MunFinance Review: listed in the same services category as an MT4 trader on the website is the Trading Home app.
Although this product is supposed to be available after registration, it’s still inaccessible to clients. It only serves as clickbait to get people to sign-up/register on the platform. But then, it is not even available to registered members.
Moreover, all the advertised commodities, stocks, and crypto trading avenues on the platform are unavailable. Even basic Forex trade tools cannot be accessed on the website.
Possible Red Flags
Like we mentioned previously in this MunFinance Review, there’s no published securities license on the company website. Traders merely have to take the company’s words for sufficient vouchers.
The MunFinance website does not look professional in its presentation. Some sentences are unclear. For instance, where the company curries registration from traders, it writes regist instead of register.
If we excuse the glaring grammatical issues on the website as an oversight, how do we justify its lack of license? Had the company mentioned an outside link/partnership/offices, clients can verify any details from those sources. However, this information is not available on the website.
MunFinance Review: the crux of the potential red flags about the platform stems from its lack of trade license. Often, scam brokers publish a certificate of incorporation to smear their fraud trail with some proof of legitimacy. MunFinace does not even offer any details of incorporation.
The scant Admin Info about the platform online strongly points at its Ponzi scheme framework.
To round up our MunFinance Review, we highlight the following points about the supposed foreign exchanges broker:
It offers no insurance measures against undisclosed closure. In the event a broker abruptly terminates its services, its clients can seek indemnity from a regulatory agency. In the United Kingdom (UK), the Financial Conduct Authority (FCA) has jurisprudence over securities regulations and more.
As MunFinance is not registered with any known SEC firm, it endangers the investor funds in the platform. Further, an alarming Ponzi flare from the MunFinace platform is its Trade Home ruse.
It supposedly leverages fine-tuned trading tools to earn more profit for traders on MunFinace. However, it turns out a blatant scam since it is unavailable for both registered and unregistered traders.