In the forex industry, there are many scammers who create identical websites through which they steal money from people by deceiving them. The platform MediaHomeLife is also involved in such dirty dealings, despite its claimed advantages. If you want to know why they are fraudsters, then join us in this review.
The official website is neither distinguished by quality, uniqueness, nor informativeness. Moreover, it contains errors and outdated information that is no longer relevant. For instance, upon entering the site, you can see the phrase “Covid-19 crisis,” which has long ceased to be relevant in the financial sector. It is now 2024, and there are entirely different topics on the agenda that affect the market more significantly than the coronavirus.
At the top, statistics are shown with trading volumes, the number of active traders, and the price of Bitcoin. The number of clients is over 200,000, which is hard to believe, but more on that later. On the right, there are buttons for registration and login, and just below, the main sections provide information about MediaHomeLife, its trading conditions, platform, and contacts.
As you scroll down the main page, you can see various advantages promised to future traders. However, these are just words without any evidence, such as “fair pricing”, “our guarantees”, or “high liquidity”.
If you want to contact the managers to clarify some details of the cooperation, this can be done by phone or email. Additionally, there is an option to leave a message for the staff through a special feedback form.
It can be immediately warned — there is no point in writing by email, as both emails are fake. The check showed that neither the first nor the second email addresses exist.
The phone number check also yielded very interesting results. It turned out that the phone number +18887787970 is listed not only on the mediahome.international website but also on the TradersHome company website, which looks exactly the same as MediaHomeLife. Are these two identical companies? It seems so.
How profitable are the trading conditions here? It’s hard to determine because the company adheres to a non-transparent approach. Important information, such as commissions and spreads, is missing from the website. The broker decided that traders do not need to know what commissions await them while trading on this platform.
Some aspects are still disclosed. MediaHomeLife offers a huge leverage of 1:400 and a high minimum deposit of $250. Why do all fraudsters set such conditions? As practice shows, if a company only provides access from $250, it is a scam. A leverage of 1:400 is proof that the company lacks a license. The fact is that regulatory authorities prohibit offering such high leverage.
Users have a choice of 6 types of accounts. Here, another hallmark of a fraudulent company can be noticed, as the better the tariff, the more money the client needs to invest. Want better conditions? Be ready to invest more funds. Doesn’t this seem like an ordinary money extraction scheme to you? The company also provides additional services:
Several red flags were discovered earlier: fake contact details, a template website, hidden trading conditions, and a high minimum deposit. These aspects already indicate that this is a fraudulent company, but let’s find more serious negative factors.
As mentioned above, there is a company with the same official website and the same conditions. TradersHome (tradershome.com) looks like a twin brother to MediaHomeLife. Do the firms have the same owner? Or is one copying the other? It is not exactly known, but this clearly indicates fraud, so you should not trust either of these companies.
How many such sites are there? Two? There is another one, a company called CryptoIFX (cryptoifx.com). Here, the fraudsters did not copy it exactly but even changed the color from black to blue, leaving everything else unchanged.
According to the information on the official website, the broker is registered in Saint Vincent and the Grenadines. By itself, this is a negative factor, but is the company really located there? In reality, the organization is not registered with the SVGFSA, which means the information about the legal address is fake.
This also indicates the absence of a license. First, nothing is said about regulation at all. Second, if the firm is not even legally registered, it cannot obtain licenses.
It is important to know how long the platform has been operating. The longer the term, the more trust it earns. However, MediaHomeLife cannot boast of a serious and solid experience, as it launched in March 2024. Yes, this information is not on the site, but you can find out the domain registration date, which is indeed March 2024. A few months of operation is a bad sign.
The broker claims to operate on the ECN/NDD business model, supposedly not interfering with the trading process, but this is a lie. It is unlikely that an unregulated intermediary can have access to ECN, so the platform operates on the DD (dealing desk) business model, meaning it is definitely interested in client losses, as there is no other way for the company to make money.
Finding reviews about MediaHomeLife is not an easy task. It is worth noting that there are very few of them on the internet. In addition, there are many exposé articles and reviews that provide numerous arguments showing why this is a scam and how. The company is not popular, which means the statistics showing 231 thousand traders are definitely fake.
So, this fraudulent company does not exist in a single instance. There are at least two similar sites, and possibly even more. MediaHomeLife does not have a license, and the legal address is fake, as are the contact details. There are no security guarantees for traders, so you should not invest money here.
Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
I still don’t understand the point of these ECN and NDD models and why everyone is so obsessed with them. But I believe MediaHomeLife is a scam
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