In this MotFunds review we will walk you through steps needed to evaluate the motfunds.com legitimacy. MotFunds is one of the many prop trading firms which has become a trend recently.
Regulation
MotFunds is not regulated. Lack of regulation means that the firm decides solely on their principles on how to handle the clients’ money and when to honor a withdrawal request. Prop trading firms currently don’t need regulation and that means that clients do not have protection from an outside regulatory body.
Signs that might indicate if MotFunds is a scam or not
The whole idea of a prop trading firm is to fund the clients who pass a certain challenge and reach their trading objectives. So, if they ask you to pay a lot of money upfront or during the trading process, it is a red flag.
Also, if you earned unrealistic profits on their platform and they require you to pay taxes before they release your money it would be another scam sign. Either way, you can put them to the test by requiring a withdrawal. If they delay the withdrawal or make excuses why you can’t withdraw your money, it is definitely a scam and you should stop giving them money.
How to withdraw your money from MotFunds
The best way to get your money back is to go to the bank and initiate a chargeback. This would work if you made the deposit using a credit card. If you made the deposit by wire, feel free to reach to us here for further instructions. Also please report the case to the authorities.
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