MetisEtrade.com Review

I read from a Facebook trading page yesterday that Justin Jung has already left the Philippines. The bucket shop's BGC office has been vacated already. Commenters on that page unanimously regret investing therefore disappointed (lack of term) considering that this Justin Jung has the nerve to promote forex market and his company. One even commented that a family friend invested millions of pesos in that company which may have been embezzled out of the country.

Only time will tell about the foregoing actions of the clients against this bogus company.

Metisetrade has been raided and shut down by Philippines National Bureau of Investigation on October 27, 2016 for continually doing business even under Cease and Desist Order as well as on charges of rigging the system to cause client losses.

CEO Justin Jung fled Philippines to avoid prosecution and conveniently renamed the company operating out of Hong Kong. He is refusing to refund investors money citing that he spent the money on expanding the operation in Philippines. Many investors, especially in the Philippines, cannot get their remaining funded refunded.

They are now a company registered in Hong Kong although their physical office address is nothing but a mailbox/virtual office with no staff. They still have few support staff operating out of Manila.

Metisetrade is nothing more than a fraudulent and a scam company where they pretend to place investor money to liquidity providers in Hong Kong but actually acts as a market maker.

Metisetrade had more than 6 known cases that where investors lost money from from "computer glitches." Even worse, certain customers were able to trade with 0% leverage proving that these funds were never passed along to liquidity providers, thus transactions were bogus.

Their webpage is full of lies to prey on innocent investors and it is really sad that most of the employees at Metisetrade tried to make the company grow and make it a transparent company where as CEO Justin Jung was only interested in making clients lose their investments.

NEVER trust this broker, they make it very hard for you to withdraw, I'll update here as soon as I get my funds.

The seminars are informative. However, CS needs improvement. I'm going to close my account

Beware of this broker, it has a Cease and Decease Order from SEC due to its illegal operation: http://www.mb.com.ph/sec-warns-public-vis-foreign-exchange-dealer-metis-e-trade-inc/

do not deal with this broker. Please see this link http://www.mb.com.ph/sec-warns-public-vis-foreign-exchange-dealer-metis-e-trade-inc/

The secruity and exchange commission decision on metis etrade

pros

- capital can be in local currency
- usd exchange rate conversion is good
- transfer of funds from your bank account can be quick, just shoot them an email of the deposit you made. Just do it before banking hour cut offs.
- spreads are good
- free seminars on forex basics are offered at their office in taguig city

cons
- too few servers, that will not automatically switch you over if you are trading 24/5 so if server is in singapore timezone but it is already the euro timezone then it will cause some slowdown. such a no no in an e business.
-no real tech support, chat support not functional, in house support who acts as admin, that acts as customer service, doesn't know much about the technicalities of meta trader
-mt4 mobile sucks, they keep on insisting it is my connection not theirs. however i never experienced the same from two major Asian forex provider; with the same mobile device with the same connection. there is no support that can explain things, no real testing done to replicate my issue. 90% of the time I am disconnected from their server.
-customer support doing multiple roles as trainers, sales rep sometimes or sometimes tech support are rich kids who just graduated from an expensive learning institution in the philippines who have no extensive background in the industry; hence unreliable.
-trainings conducted though free is very disorganized, sound system sucks, venue so congested, seats are very uncomfortable and THE KIDS, one girl in particular is too noisy flirting with her boyfriend on the cellphone while the seminar is on going. VERY PROFESSIONAL indeed!!!!
-paypal is not accepted.

+ Low initial deposit
+ Very good customer support
+ Free seminars/events
+ Trading platform has a lot of features
+ Friendly brokers
+ Has in-depth research in their website
- Office only in Metro Manila (I am often in the province)
- Brokers can’t trade for you

I decided to start FX trading just last year. I was looking for a local broker that could help me learn in a more hands on manner. A friend of mine referred me to MetisEtrade -specifically their program Happy Trading Hours, which allows people to learn trading in a relaxed environment. The consultants of the company were friendly, and were great in helping me understand the basics of Forex trading. They also have no commissions, which is a plus. I highly recommend them if you're looking for a broker in the Philippines.