McGregor Trade is an online trading platform focusing on stock trading, commodities, indices and crude oil. The online presence of the provider is available in a German version and can be accessed at https://www.mcgregortrade.com/de/.
Have you been contacted by McGregor Trade and would like to discuss the provider? Or are you interested in this provider or the characteristics of online trading in general in the run-up to a planned investment? Then an advocate is available to you for a dialogue.
McGregor Trade experiences
If you are considering investing your money on an online trading platform, you should find out about the provider in advance. It is helpful if you can fall back on McGregor Trade practical reports in this case. However, if you search for McGregor Trade on Google & Co. you will hardly find any hits.
Therefore, there is no possibility to inform yourself about McGregor Trade in blogs or forums where experiences are exchanged or where you come across feedback on trading providers. Generally, it is also difficult to assess the truthfulness of any published experiences with McGregor Trade.
This is because the texts found on the web are not always written from an objective perspective.
Company headquarters and state authorisation of McGregor Trade
It is true that the company’s own website is also used to give the reader a positive impression. Nevertheless, useful information on the company’s registered office and its regulatory status can also be found here for the interested investor. There is no legally binding imprint on the McGregor Trade website.
For this reason, no information can be provided on the management or the legal form of the company. The footer of the online presence states that McGregor Trade is based in the Marshall Islands. Contacting the customer service is possible by telephone via a line that leads to Great Britain (area code 0044).
In addition, written requests can be sent to McGregor Trade by e-mail. Whether the provider is supervised by a European financial supervisory authority cannot be answered without reservations. There are no signs of registration with the German Federal Financial Supervisory Authority (BaFin) or the British Financial Conduct Authority (FCA).
A statement about a legal business operation of McGregor Trade in the EU, which requires the possession of the necessary licences, can therefore not be made without doubt.
McGregor Trade website
At the top of its homepage, McGregor Trade describes itself as a gateway to the world’s markets. On the platform, one can trade in over 150 different financial instruments, including assets such as:
- Foreign exchange (Forex Trading),
- Crude Oil,
McGregor Trade was founded in 2016. The offer is aimed at investors who intend to trade with contracts for difference (CFD trading) on various underlyings or with currency pairs (forex trading). According to its own information, McGregor Trade is an online broker that enjoys international recognition.
The company’s team consists of several hundred experts who work as financial experts and in technical support. McGregor Trade strives to implement technical innovations and provide a reliable trading environment for its clients.
Educational opportunities at McGregor Trade
McGregor Trade has set up a separate section on its website called “Resources” for the topic of training and further education. This section contains various topics, such as an academy, market news and a business calendar.
Technologies provided by McGregor Trade
Investors need access to trading software for their trading activities. Online brokers usually provide these applications to their investors free of charge. The applications are either proprietary or developed by third parties. At McGregor Trade, investors could trade via the Metatrader software in version 4.
This is available for use on Windows computers. Whether there are other versions, for example for mobile trading, is not part of the information provided by the company in this section of its website.
Registration and different account models
If you want to start trading online on the McGregor Trade platform, you have to register as a customer first. After setting up the account, customers are offered a range of four live trading accounts from which they can choose:
- Mini account: Minimum deposit of 500 US dollars
- Bronze account: Minimum deposit of 15,000 US dollars
- Silver account: Minimum deposit of 50,000 US dollars
- Gold account: Minimum deposit of 75,000 US Dollars
According to the company, money transfers can be carried out using various methods. For example, bank transfer or processing via various credit cards are available.
Online trading and the associated risks
With interest rates on the capital markets still at a low, investors are looking for high-margin options to savings accounts and fixed-term deposits. This is where digitalisation comes into play, enabling numerous companies to offer their online trading platforms globally.
Even if foreign brokers lure you with ostensibly lucrative opportunities for returns, you should be vigilant. Because should problems arise, it is considerably more demanding – in contrast to one’s own house bank – to discuss the case in a personal meeting.
Without external support, it can happen that investors with little experience do not fully grasp the risks or assess them incorrectly. If the investment then develops in the wrong direction, providers of trading platforms often suggest injecting additional capital to make up for the shortfall.
It is not uncommon for success to fail at this point and the investor has to write off the invested capital, possibly even to the point of total loss.
Losses with online trading?
If you have lost money while trading on an online platform, you should take active action. First of all, you should refrain from making further deposits or additional payments. Furthermore, it is advisable to ask the online broker about the reasons for the losses and to find out what prospects there are of recovering the deposit.
If the matter is not satisfactorily resolved by the provider, one can contact a lawyer and seek investor protection. The law firm Herfurtner Rechtsanwälte examines the extent to which you are entitled to claims against the trading platform and, if desired, enforces them directly against the provider.
To make an appointment for a first meeting with our lawyers, please use the contact area.