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Manfreditrade Review | Is the Firm a Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 1
Manfreditrade - logo

Manfreditrade offers CFD trading and claims to have been operating in the market for many years, but is this true? A specific foundation date has not been announced, and no evidence of substantial experience is provided. Additionally, the legal address is not indicated on the official website, but the user agreement mentions the offshore jurisdiction of Saint Vincent and the Grenadines. A license is also missing, and online reviews are rare. Honestly, at first glance, the firm seems like a scam, but we still need to verify this by thoroughly checking the organization.

Highlights

🏛️ Country Saint Vincent and the Grenadines
⚠️ Regulation
🖥️ Website https://www.manfreditrade.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit €250
⚖️ Minimum and Maximum Leverage 1:200
⚙️ Trading Platform WebTrader
📨 E-mail support@manfreditrade.com
📞 Phone +48 (221) 03-25-19

First Impression of Manfreditrade.com

Thanks to the official website, one can learn about the trading conditions and some aspects of Manfreditrade’s activities. Although the firm is not very willing to share information about itself, some data can still be found. At the top of the page, there is a standard panel with several sections:

  • Account types.
  • Trading. Bonuses, strategies, guides, and crypto dictionary.
  • Assets.
  • Info about the company, including legal documents.
  • Contacts.

Manfreditrade - site

Important information, such as licenses, legal address, or business model, is missing. Trading conditions are also not fully illuminated. However, Manfreditrade praises itself as the most profitable, safe, and comfortable broker, citing meaningless advantages. It is noticeable how often clichéd phrases are used, which lack sense and benefit. For example, “Steady & innovative”, “Smart technology”, “Personalized & Professional”, and so on. The company would do better to provide more data about itself than these meaningless phrases and propositions.

The official website is available not only in English but also in Polish and Russian. Manfreditrade uses images of a night metropolis, trading terminal screens, and people sitting at a laptop as graphic design. All this looks formulaic and dull.

Partnership and Bonuses

The broker has developed two types of bonus promotions:

  1. Welcome bonus. For the first deposit, clients can receive a 30% bonus. Confirmation is done through a manager.
  2. Friend bonus. It is necessary to invite a partner through the referral program. Once the referral makes a deposit, the trader will receive a 20% bonus.

Bonuses at Manfreditrade are not mandatory, so clients can opt out of receiving them. However, those who wish to receive additional funds must remember the conditions. Unfortunately, they are not described on the official website, so we recommend contacting a manager first.

Account Opening on Manfreditrade.com

Without an account, it’s impossible to start trading, so next, we’ll look at how to register a personal account, what it looks like, and what opportunities are available to traders.

Registering an account with Manfreditrade starts with providing personal information: name, contacts, country, and date of birth. It’s also necessary to create a password and agree to the terms.

Registration

Confirmation of personal account creation via email/phone was not required, as the client portal interface opened immediately. In the Manfreditrade personal account, you can find functions such as:

  • Personal details. Verification, info about accounts, and changing password.
  • Trading history.
  • Deposit.
  • Monetary transactions.
  • Withdrawal.

From here, you can also go to WebTrader. Quite a limited set of options. For example, where is the demo account? Does Manfreditrade not offer to practice without the risk of losing real money? Also, no functionality for an affiliate program was found.

Verification

The site provides a KYC document that explains what it is, why verification is necessary, and what documents are required. Manfreditrade requires two types of documents for KYC: proof of identity and proof of residence. A third type may also be required: a photo of the bank card if it’s used for depositing. Documents are uploaded through the personal account interface or sent to the support email. Unfortunately, the KYC processing time is not specified.

Pros
  • None.
Cons
  • If a bank card is used for replenishment, a photo of it must be provided.
  • The processing times are unknown.

Trading Software

A mobile application for Android/iOS is absent, as it was not found in the personal account. Although Manfreditrade talks about the terminal supporting any type of device, even smartphones, we assume they meant adaptation for mobile browsers. Such an approach is unlikely to replace a full-fledged mobile application, which would have the advantage of better optimization and convenience.

Terminal

Experienced traders are unlikely to find the Manfreditrade trading platform suitable. While important functions such as limit orders, basic technical analysis, and main timeframes are available, many advanced tools are missing. For example, open interest, order book, the ability to upload custom indicators, or auto-trading with advisors.

Essentially, the broker offers to trade on a primitive WebTrader with limited capabilities. And there’s no alternative. The platform does not have applications for computers and smartphones. Moreover, it’s impossible to test the terminal, as there is no demo account. It’s important to understand how quickly orders are executed and whether there are any bugs. Manfreditrade clearly does not want their clients to trade comfortably.

Features Manfreditrade Kane LPI Solutions Limited RippelCapital
Demo Account
Mobile App
Own Development ✔️

How Can I Trade With Manfreditrade?

Clients have access to the main market classes: forex, metals, indices, stocks, commodities, and cryptocurrencies. It’s also worth noting that these are only CFDs. Trading conditions depend on the type of account the user chooses.

All Info About Accounts

You can start trading with Manfreditrade with 250 euros, as this is the amount required to open the first type of account. The broker offers 4 tariff plans in total:

  • Solo. Starts from €250. The client receives 1 introductory lesson from an expert and processing requests in order of priority. Also, a limited list of assets. Trading is only available for forex, crypto, and commodities.
  • Trial Premium. The minimum deposit is €750. More lessons and indices are added.
  • Premium. From €3,000. Work with a personal expert on a permanent basis, processing requests out of turn, and withdrawal out of turn. The stock market becomes available.
  • Black. The requirements for the minimum deposit are not specified. However, the trader gets priority access to events, quarterly reports, insurance, and group orders.

Manfreditrade lures more money from its clients. This is evident from the description of the account types. Want to trade stocks? Kindly replenish the deposit with at least 3,000 euros. Such an approach is not popular among well-known and verified brokerage companies. All clients have access to all classes of financial assets regardless of their status and balance size. So, such conditions only negatively characterize the company.

Account types

Why do illegal brokers love to set the deposit threshold at 250 euros/dollars? We’ve noticed that this requirement is most commonly found among fraudulent firms. Therefore, Manfreditrade already raises certain suspicions.

The size of the leverage is not specified, but it can be seen in the trading platform – it is 1:200. An obvious violation of financial commission requirements. The size and type of spreads are unknown, as are the commissions. Absolute opacity and secrecy towards clients. How profitable is it to trade here? You won’t know until you deposit and open the first deal.

We’ve already mentioned that Manfreditrade lacks a demo account. And here it can be added that the broker does not offer an Islamic account and ECN.

Pros
  • None.
Cons
  • High minimum deposit.
  • Restrictions on available asset classes.
  • Lack of demo and Islamic accounts.

Market Analysis and Education With Manfreditrade.com

The firm shares useful information about what financial markets are, what kinds of instruments exist, and how it work. Manfreditrade also provides definitions of terms from the world of trading and types of strategies. However, that’s all there is. Clients would gladly make use of an economic events calendar, news feed, a position calculator for calculating volume, stop-loss, and take-profit, and fresh analytics, but the company does not offer these.

Deposit, Withdrawal, and Fees

Clients can transfer money in various ways: bank wire transfers, PayPal, Ria, MoneyGram, credit/debit cards, and digital currency. The last method should be used cautiously, as it is impossible to get a chargeback, and the payment recipient can remain anonymous.

The minimum withdrawal amount in Manfreditrade is 50 euros. When withdrawing funds, users will have to pay a 3.5% service charge, but not less than 30 euros and not more than 3,500 euros. Also, remember that if an account has not been active for 60 days, 100 euros will be deducted from the balance monthly. The same fee awaits those who have not passed the identity verification within 30 days of registration.

Features Manfreditrade Partners Special Capital Limited Algexia
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

Firstly, there is an online chat on the official website through which you can promptly contact the managers. However, there is no precise information on whether communication in English is possible because Polish is set by default.

Online chat

Secondly, clients can contact Manfreditrade’s managers via email and phone number. The phone number provided is Polish, so presumably, you need to know this language specifically to communicate with the staff.

Pros
  • All major ways to contact staff are available.
Cons
  • Social media accounts are absent.

Is Manfreditrade Dangerous?

The trading conditions are similar to those we constantly observe with illegal and fraudulent brokers. Moreover, the low level of openness and transparency of the firm raises serious suspicions. Would an honest and verified broker hide most of the important information? We don’t think so. Therefore, we need to check the licenses and the period of Manfreditrade’s operation, and after that, conclusions can be made.

How Long Does The Broker Work?

Although the company boasts of its extensive experience, the specific foundation date is unknown. The launch date of Manfreditrade can be inferred from the domain registration date. Thus, the domain appeared on November 14, 2023, which is quite recent. Now it’s clear why the organization chose not to disclose its foundation date. However, claiming to have extensive experience misleads users.

Domain

How Is Manfreditrade Regulated?

“This Agreement and all transactional relations between you and the Company are governed by the Laws of St. Vincent and the Grenadines” – a quote from the broker’s user agreement. Alright, let’s try to verify whether such an organization actually operates in this country or if this is yet another lie.

Manfreditrade - SVGFSA

It turned out to be another lie. Manfreditrade was not found in the SVGFSA, so there is no such company in Saint Vincent and the Grenadines. It’s not surprising that the website simply lacks a legal address.

Features Manfreditrade AGX ZEN Fortnomics
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

Just another fake, not a real broker. A typical fraudulent dealing desk focused on scamming Russian-speaking and Polish-speaking audiences. This is evident from the supported languages on the official website. Is it possible to trade here? Absolutely not. Manfreditrade won’t even blink before taking your money. Once you’ve sent funds to scammers, there will be nothing you can do about it. These are some anonymous crooks who have created not just one fake brokerage platform. I’m confident there are many such scam sites on the internet. So always check who you plan to cooperate with. It’s important to do this BEFORE making a deposit, not AFTER.

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The level of trust
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1 review about Manfreditrade

Stonley February 7, 2024 - 15:43
I see no reason to trust scammers
The level of trust
Quick withdrawal of funds
Efficiency of technical support

How can one trust their money with such scambrokers? No license, no proper period of operation, no legal information. I see not a single reason why anyone should register an account with the fraudulent company named Manfreditrade.
An absolute fake and illegal broker. I advise staying as far away as possible from such pseudo-companies. Here, the trading is fake, and everyone who makes deposits will lose them irretrievably.

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