MillBTC Review is Millennium Bitcoin Investment a Scam or Should I Invest

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MillBTC Review: is Millennium Bitcoin Investment a Scam or Should I Invest?

MillBTC Review: Scam or Paying? Millennium Bitcoin Investment claims it could make you good profits from cryptocurrency trading. How true is this? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams. In this review of MillBTC.com, we provide you information based on our investigations and user experiences to help guide you make the proper decision.

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Millennium Bitcoin Investment Scam Review: Disturbing Things Found

Most of this scam quick-profit investment schemes are HYIPs. What is a HYIP? It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested, and the site is closed down since there is no longer enough money to pay initial investors. Those that benefit most times are the first investors. The system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially.

Most of them provide a registration certificate and so-called evidence of payments. Don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries are not in actual sense located there.

MillBTC.com is not a legit cryptocurrency investment platform. Don’t be deceived by their promises.

Conclusion

Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams.

Millennium FX Review – is it scam or safe?

Trading Accounts and Conditions

Trading account Min. deposit Min. trade size Max. leverage Spread
Micro €1 000 0.01 1:1000 from 2.5 pips
Pro €5 000 0.01 1:1000 from 2.0 pips
VIP €10 000 0.01 1:1000 from 1.5 pips

Millennium FX presents itself as a financial intermediary operating on the forex market. It offers three account types with floating spreads and very high leverage levels.

Apart from their account type and trading conditions, we have serious concerns about this broker and the details will be highlighted below in this review.

This broker appears to be different from Millennium-FX (which operates from the domain mlnfx.com) and is allegedly owned by unregulated Estonian company MLNMTECH OU. Yet, we cannot be sure about this. Both brokers are unregulated and have very low credibility.

Millennium FX Advantages

Trading on the MT4

When we weighted the advantages of Millennium FX, one that stands out is the availability of the MetaTrader4 (MT4) platform.

With its intuitive interface, great charting package, numerous market indicators and the option to run automated trading sessions via Expert Advisors, the MT4 dominates the market for the better part of the past decade. You may check our list of brokers that also support the MT4 and select a better one.

High leverage provided

Millennium FX provides traders with very high leverage ratios, reaching 1:1000, which will suffice the needs of all types of traders. Yet, using leverage levels that high can be risky and if you are not experienced in trading, you could lose your investments in a matter of seconds.

Solid choice of CFDs

This brokerage also provides traders with currency pairs from all over the world and a wide variety of CFDs. More specifically, Millennium FX’ CFD product range includes indies, commodities, precious metals, stocks, and the most popular cryptocurrencies. Such variety of tradeable assets allows for portfolio diversification, which helps manage risk.

Millennium FX Disadvantages

Not regulated, CNMV warning against it

The situation of Millennium FX is somewhat unclear. The website of the broker is available mostly in Spanish, however the “legal” section is entirely in English, and features a company address in London, UK.

Yet, the company allegedly owning and operating the brand, Millennium Fx Limited, is not licensed by the UK’s Financial Conduct Authority (FCA), nor by any other financial authority. Regulation is the single most important factor for the safety of any investment and the fact that Millennium FX does not have a license significantly lowers its credibility.

Furthermore, there is a recent warning against Millennium FX issued by Spain’s financial regulator, the CNMV, which is yet another red flag.

Excessive initial deposit

To open a Micro account with Millennium FX, you should invest at least EUR1000 and that in our view is excessive. Most brokers allow you to open a standard account with $100 – $250 or less, while some big names like IG do not have a minimum deposit requirement at all.

Spread above the average

Although we believe that the cost of trading is not as important as the security of your investment, spreads are still an important factor in the trading world. That being said, it seems that the offer of Millennium FX is not that attractive. According to the information on its website, the broker’s spreads on the most basic account type start from 2.5 pips on EUR/USD, while the average for the industry is 1.0 – 1.5 pips for this pair.

When we tested Millennium FX, the benchmark EUR/USD spread was floating around 2.1 pips.

Click on the image to view full size.

For further information and comparison on spreads, check out the below link.

MT4 provided by a third party

Another thing we discovered when we downloaded Millennium FX’ MT4 is that it was not provided by the parent company of the broker, but by a third party – CXM Trading ltd. This is not that unusual, but we decided to mention it anyway.

Conclusion

Allegedly based in the UK, Millennium FX seems to target mainly Spanish investors. Nonetheless, the broker is not entitled to operate on any regulated financial market, including in the EU. Furthermore, the trading conditions offered by the brokerage are not in the least favorable. All in all, traders should direct themselves to better trading options to which we have linked throughout this review.

To sum up the strong and weak sides of Millennium FX in a few words:

Pros Cons
Supports the MT4 Not licensed
High leverage, many CFDs offered Blacklisted by the CNMV
Excessive minimum deposit
High spreads
MT4 provided by a third party
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Millennium Trust Company Scam Review – Legit or Fraud?

Millennium Trust Company (MTrustCompany.com) has been taking quite a bit of heat lately regarding financial services that they render unsuspecting individuals.

We say unsuspecting individuals due to the fact that many of the individuals who have experience with the Millennium Trust Company have received out-of-the-blue correspondences from Millennium Trust Company regarding their 401k plans.

Charging all sorts of fees to hold and manage 401K plans of consumers who have had their 401K plan rolled by former employers is where Millennium Trust Company has been encountering strong strife between consumers.

To find out more regarding the Millennium Trust Company and why consumers appear in an uproar regarding this company, we invite you to read our unbiased review.

What is Millennium Trust Company?

Millennium Trust Company was established in 2000.

Since their inception, Millennium Trust Company asserts that they began focusing on unique custody solutions, where today they are known for their ability to solve complex custody requirements.

In other words, Millennium Trust Company provides custody solutions regarding rollover 401k plans and self-directed IRAs.

According to their site, Millennium Trust Company works with some Fortune 500 company’s and independent Investment Advisors.

Among the most reputable clients they work with would be Fidelity Investments, MetLife, John Hancock, MassMutual, Voya Financial and CBIZ.

Who is Behind Millennium Trust Company?

MTrustCompany.com is owned and operated by Millennium Trust Company, LLC.

According to the Better Business Bureau, Millennium Trust Company reflects an A+ ranking and has been BBB accredited since April 28th, 2020.

Millennium Trust Company is classified as a retirement and wealth services provider.

Millennium Trust Company, LLC become incorporated on September 29th, 2000 in Illinois, USA.

Physical Location: 2001 Spring Rd Set 700, Oak Brook, IL 60523-1890

Telephone: 1 (800) 258-7878

Domain Insight

MTrustCompany.com was a privately registered domain that was created on August 28th, 2000 through the Network Solutions, LLC registrar.

According to SimilarWeb, MTrustCompany.com reflects a global rank of 524,337 with a US rank of 109,632 as of January 3rd, 2020.

Detailed in the market intelligence report would be how Millennium Trust Company supports over 80,000 monthly visitors on average while 94.88% of their traffic originates from US-based visitors.

Millennium Trust Company Reviews

Millennium Trust Company doesn’t reflect much of presence amongst other review sites, in fact we could only find Millennium Trust Company reviews across consumer review portals.

While it is true that there are far larger number of complaints filed against Millennium Trust Company, nevertheless, here is a some positive review we found regarding Millennium Trust Company:

“After reading the reviews, I was extremely apprehensive about calling this company about a letter I received, but honestly, my experience was seamless and the process couldn’t have been easier. I opted not to roll over my IRA, but I had no concerns navigating their website to verify my info and the money was deposited in my checking account within a day. Unfortunately I don’t have the names of the representative that assisted me on the phone, but I had no concerns with being able to talk to someone and having all of my questions answered efficiently.”

According to Indeed, Millennium Trust Company appears to be a reputable company to work for and provides a good corporate structure.

Millennium Trust Company Complaints

The complaints revolving around Millennium Trust Company are voluminous and reflect troubling consumer experiences.

According to Yelp, Millennium Trust Company reflects a 2 out of 5 star rating out of 119 reviews.

Here are among the most relevant complaints we found:

“I don’t think they have their customers best interest in mind.
A former employer rolled my 401k into this company…I’m going to roll this money over before they try to get more fees.”

“Same story as everyone else. The company I had a 401K account with terminated my account, and sent my money to this crappy company without my consent. (So basically, they’re BOTH crappy companies.) These a**holes took a whopping $70 out of my hard earned money for no reason, that was supposed to be intended for my retirement (NOT their pockets!!) RIP OFF. Thieves!!”

“Millennium extracted $74 in fees on the way into their custodian account and on the way out after it was transferred from my ex-employer’s retirement plan provider…Millennium Trust Company is predatory, especially on poorer people with lower balances in their retirement accounts…”

More complaints regarding Millennium Trust Company can be found in the complaint section of the Better Business Bureau.

Is Millennium Trust Company Legit?

Despite the growing number of complaints being filed against Millennium Trust Company, there isn’t any evidence to suggest that this company is breaking any US laws.

Given these facts we do believe Millennium Trust Company to be a legitimate company although don’t let that confuse you, we are by no means supporting the Millennium Trust Company in any way, shape or form due to the way they fleece individuals hard-earned retirement funds with many fees.

Millennium Trust Company Review Conclusion

Millennium Trust Company is a custody solution that specializes in retirement and wealth management services.

The aim of this review was to provide you with a more encompassing oversight regarding Millennium Trust Company and why many consumers are quite aggravated with this company.

Be wary of Millennium Trust Company’s excessive fees and if possible contact a financial manager, certified public accountant or lawyer to figure out the best route to handle any issues you may be experiencing with this company.

With this in mind we are going to bring this review to a close but if you have any experiences that you wish to share that could help other individuals in like-wise situations, we encourage you to leave your wisdom below.

To stay in the loop regarding financial-related opportunities and trending financial scams to avoid, we encourage you to subscribe to ScamFinance today!

We invite you to share any insight, experiences or feedback you may have below!

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