Introduction to Madden Markets Limited:
Madden Markets Limited provides trading services for investors in forex, metals, energy, and agricultural products. The official website of Madden Markets Limited does not provide any information regarding the company's registration. Furthermore, based on the domain registration information from a Whois query, the company's official website domain was registered on June 17, 2022, just over a year ago.
Is Madden Markets Limited Compliant and Legal? Does It Hold Appropriate Financial Regulatory Licenses?
The information on Madden Markets Limited's official website indicates that the company holds an MSB (Money Services Business) license from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and is regulated or authorized by the National Futures Association (NFA) in the United States. However, FINTRAC primarily serves as a regulatory authority for anti-money laundering and anti-terrorism financing in Canada and does not regulate or authorize forex brokers. The results from a query on the National Futures Association (NFA) website show that the company is only a non-registered member of the NFA and is not regulated or authorized by the NFA.
Trading Instruments Offered by Madden Markets Limited:
According to Madden Markets Limited's official website, the broker offers trading services for various financial assets, including forex, metals, energy, and agricultural products.
Trading Software Offered by Madden Markets Limited:
On the broker's official website, they provide software download links for the MetaTrader 4 (MT4) trading platform. This trading software is available for desktop (Windows/MacOS) and mobile (iOS/Android) versions.
Fund Safety:
Madden Markets Limited has not disclosed any third-party fund custody information on its official website, raising concerns about the safety of users' funds.
Deposit and Withdrawal Channels:
Madden Markets Limited has not disclosed any information about user deposit and withdrawal channels, making it unclear how users can deposit and withdraw funds.
Leverage Ratios:
Madden Markets Limited only displays a leverage ratio of 1:500 on its homepage, while compliant brokers typically offer leverage ratios ranging from 1:10 to 1:100.
Summary:
Madden Markets Limited is a forex broker that engages in illegal financial activities using false regulatory information. The broker has not provided any crucial information regarding user fund safety, deposit and withdrawal channels. TraderKnows advises you to stay away from Madden Markets Limited, as it is a highly risky forex broker, to avoid falling into potential scams.
Madden Markets Limited is listed as "suspected of fraud" on TraderKnows.
