By Lal Singh In recent years, social media has become full of advertisements promoting platforms like MTFE (Metaverse Foreign Exchange Group Inc.), promising easy profits through forex and crypto trading. Many people joined this platform hoping for quick earnings. But after several complaints and sudden shutdowns, the big question is — Is MTFE real or a scam?
Let’s find out:
What Did MTFE Claim?
MTFE introduced itself as an online trading and investment platform where users could earn money through:
- Forex, stocks, crypto and commodity trading
- AI-based automated trading bots
- Referral income by adding new members
- Daily or weekly profit returns without much effort
These claims looked attractive to new investors, especially beginners who wanted passive income.
Red Flags That Show MTFE Is Not Trustworthy
1. No Proper Trading Regulation
MTFE claimed that it was registered in Canada under FINTRAC. But FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) only monitors money laundering, not trading platforms.
Also, the Ontario Securities Commission (OSC) clearly announced that MTFE is not licensed to offer trading or investment services.
This means MTFE is operating without any legal trading license.
2. Ponzi / Pyramid Scheme Structure
Many reports and financial experts stated that MTFE was operating like a Ponzi scheme. Here’s how it worked:
- Earlier investors received small profits to gain trust
- New investors were forced to join through referral systems
- When deposits increased, the company shut down withdrawals
- Eventually, the platform disappeared with people’s money
In places like Bangladesh and Sri Lanka, thousands of users lost huge amounts of money when MTFE stopped working in August 2023.
3. Difficult Withdrawals and Fake Promises
Real trading involves risk. No platform can guarantee fixed daily or weekly profits. But MTFE promised unrealistic returns using “AI trading bots.” Many users reported that:
- Withdrawals were delayed or completely blocked
- Customer support stopped responding
- Accounts were frozen without reason
Such actions are typical signs of scam platforms.
So, Is MTFE Real or Fake?
After analysing all available information, the answer is clear — MTFE is not a legitimate trading platform. Even if it looked real with apps, websites, and trading dashboards, it lacked:
- Legal licence from any recognised financial authority
- Transparent trading proof or public audit reports
- Reliable withdrawal system
Therefore, MTFE is widely considered a fraudulent or Ponzi-style scheme, not a genuine trading service.
How to Stay Safe from Such Platforms
If you want to start online trading or investing, follow these safety steps:
✅ Check for government regulation – In India, SEBI regulates legal brokers.
✅ Avoid guaranteed profit schemes – Trading is risky and never 100% profitable.
✅ Stay away from referral-based earnings where income depends more on people joining than actual trading.
✅ Search genuine user reviews and check if withdrawals are smooth.
✅ Use trusted trading platforms like Zerodha, Upstox, Angel One, ICICI Direct, or SEBI/FCA/ASIC-regulated international brokers.
Final Conclusion
MTFE trading may have appeared genuine to many investors, but in reality, it was an unregulated, high-risk platform that showed all signs of a scam. Thousands of people have already lost money, and several government agencies have issued warnings against it.
If you value your hard-earned money, it is wiser to avoid such platforms and invest only through regulated and trusted brokers. Trading can grow your wealth, but only when done on secure and legal platforms.