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Abstract：MainTrade.Co has been warned by BaFin due to suspected financial services provided without any authorization from the agency.
In line with section 37 (4) of the German Banking Act (Kreditwesengesetz - KWG), BaFin wishes to state unequivocally that MainTrade is not authorized to conduct banking business or offer financial services under the KWG. BaFin does not oversee the firm. The material on the company's website, maintrade.co, suggests that MainTrade is doing banking operations and offering financial services in Germany without the necessary permission.
Companies that do banking activity or provide financial services in Germany must be licensed under the KWG. However, some businesses operate without the proper permits. BaFin's business database contains information on whether a certain firm has been given authorisation.
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt - BKA), and the German state criminal police offices (Landeskriminalämter) advise consumers seeking to invest money online to exercise extreme caution and conduct extensive research ahead of time in order to detect fraud attempts early on.
However, a check of the alleged business on the FCA registration yielded the response “not registered.”
Overview of MainTrade
MainTrade, according to its official website, is an international online broker that offers consumers and institutional investors access to over 600 trading products across six asset classes. We operate all over the world and put a high value on offering professional and dependable services to all of our customers.
WikiFX, a medium platform of 30 global financial authorities, got bad comments from its traders.
Download and install the WikiFX App on your mobile phones from the download link below. You can also download the app from the App Store or Google Play Store.
Download link: https://www.wikifx.com/en/download.html
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
HYCM Capital Markets (UK) Limited reported a £236,304 loss for 2025, as higher administrative costs offset a small rise in revenue and reversed the previous year’s profit.
XELLION, a Saint Lucia-based forex broker, is reportedly facing many complaints from users. Among the complaints, the lack of smooth fund withdrawals remains the most disturbing one. This issue was not only highlighted by real users but also the Introducing Broker (IB) who expressed shock over this issue on broker review platforms. In this XELLION review article, we have examined these allegations against the brokerage entity.
If you're looking for information about AssetsFX deposit and AssetsFX withdrawal processes, you're taking a smart step when choosing a broker. However, when it comes to AssetsFX, we need to discuss some serious concerns right away. While its website shows many modern payment options that look good, many user reports tell a very different and worrying story, especially about people not being able to get their funds back. Keep reading!
When traders look at a new broker, the most important question is always about safety. This is especially true for AssetsFX, a broker whose online presence raises a serious question: Is AssetsFX safe or a scam? The answer isn't immediately obvious, as the broker has a very divided reputation. When you search for user feedback, you find two completely different stories. On the one hand, there are many positive reviews. On the other side, there are very serious claims of financial wrongdoing. This article won't waste your time. Our goal is to look through all the information, from regulatory status to real user AssetsFX complaints, to help you understand the major risks and make a smart decision about your investments.
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