At first glance, this company from Switzerland makes a positive impression. According to the information on the website, the project was launched 5 years ago, more than 1 million customers trade on the platform, and it is available in more than 100 countries. Meanwhile, the firm does not show copies of registration and licensing documents.
Can you trust your funds to this intermediary? We will find out in our TheMellonFX review what the broker is all about and tell you about the advantages and disadvantages of the service so that you can evaluate its reliability.
How to Trade
The brokerage firm does not disclose key trading conditions, such as spreads, commissions, and leverage. It offers traders a proprietary terminal and the following features:
- More than 2 thousand traded assets.
- 7 trading tariffs.
- More than 20 payment methods.
If you deposit $1 million, you will get a 30-day trial of the trading program, account management service, and insurance for your investment for 25 risk-free trades per year.
Although Switzerland is known for German, French, and Italian, the website interface offers only English and Russian.
TheMellonFX Vital Info
The owners of the site hide their names and team members. Despite this, they detail the facts about the history of the project, which allegedly launched on August 15, 2019. However, we were surprised that for 5 years, the financial firm has not opened a single social media account and yet has more than 1 million clients. So we promptly checked the domain and saw that it wasn’t registered until May 2024. That is, at the time of our review, this resource existed for only about a month.
Switzerland, where the head office of this company is supposedly located, strictly controls the activities of financial organizations. Meanwhile, the broker does not even mention its license. We checked TheMellonFX in the registry of legal entities of all countries and did not find such a brand anywhere. Therefore, we can conclude that this brokerage project does not have a license or even a legal entity.
I registered, entered my phone number and the next day I got a call from a manager who seemed very, very incompetent. He did not answer my questions about the license and the certificate of registration in 2019. Instead, he started to give me some examples about the high earnings of Themellonfx clients and that I could earn at least 10% per month on CFDs here!!! All these arguments were unprovable. I did not cooperate with them as I do not trust a company where they recruit some pathetic and ignorant employees.
I started trading on this platform in vain, I have never met anywhere so persistent managers who constantly persuade me to deposit more money. I have already lost more than €4,700, and all because I believed in the promises of big profits, but in the end, I can not withdraw even the rest of my balance.
I got acquainted with this platform recently, but it has piqued my interest. Besides, TheMellonFX has no mandatory requirement for a certain minimum deposit specified in the tariffs. The starting amount starts from $250, which means that even a beginner will be able to try their hand at CFD trading. I do not advise you to judge a broker by your success in trading, in my opinion it is a thankless task. The company is just an intermediary in the financial market. I am testing the services of themellonfx.com for the second week with a deposit of 400 euros and I am satisfied with the result. I earn good money, 20-30 euros per trading session, thanks to the variety of instruments and quality analytics section, which allows to reduce risks in times when making a deal. I consider the main advantage of the site to be good conditions for margin operations :) You can take here a rather large leverage with a modest amount of deposit. The risk is high, of course, but for me this is the only acceptable way of trading. Otherwise, I can't make money. Numerous ways of deposit and withdrawal of funds allow the firm to pursue a flexible policy of attracting investors' funds. Withdrawal of funds is fast in time. I made one request and the money arrived in my wallet within a day. The support service does not always respond promptly and I miss the online chat on TheMellonFX. Despite this, I rate this company as one of the best I have ever worked with, and I have tried many brokerage platforms. I recommend it.
Beware!!! They are 100% scam! The insanely annoying manager Joseph called me several times a day, he told me he would allow me to start trading with a minimum deposit of only $250, not $10,000 as stated on themellonfx.com. When I agreed, he gave my phone number to another manager to coordinate the work, his name was William and he called only from his mobile number, he did not give me the office contacts, reasoning that the landline number was being tapped by the manager of themellonfx, who controls the work of employees so that they do not make mistakes when talking to clients. William confirmed that it is not necessary to deposit a lot of money into the account, $250 is enough for me to start, if I am not aiming for big stable profits, but only want to learn how to trade. He and I started to open orders on currency pairs, in fact he taught me a little bit during the first week and I made a small profit on themellonfx.com. Then the income became bigger and in the second week I made and withdrew $60, probably this should have made me believe in my strength. William started to convince me to trade raw materials, but I had to invest another $2,000 and then I could earn three times my deposit in a month. He convinced me that he knew the secret information and now was the best time to take the risk. At the same time I managed to earn another $48, and William talked to me like a child, as if he was offering me a candy bar. However, I was embarrassed by this approach and decided that I would not participate in this venture. I said that I would think about this offer for 2 months, and the manager told me that themellonfx would give me 1:1000 leverage and I would get a huge profit. I thought it was nonsense and I decided to withdraw my $298, but the operators did not accept my application, they wrote me that the broker does not approve! I got many excuses from them. I think: why invest $2,000 here, if they can't give me less than $300, how will I then withdraw the profit of hundreds of thousands of dollars that my manager promised me?!! Meanwhile, he told me he was going to London and promised to be back in two days, then themellonfx would approve my application. He said "let's do a couple orders with you while I am on the road". I agreed, hoping that I would get all my money back in 2 days. However, an hour later my balance went to zero!!! I thought it was a glitch! No, it was William who made deals that way! I called him and was indignant, and he says that he accidentally made a mistake and advised me to fund my account for $300 and he will earn me a profit twice as much! He thinks that he cheated me not enough, he decided to extort more money! As a result, I became another victim robbed by these scammers. I am very offended, I can not express my feelings in words!!! I am sorry for the lost money and lost time with the scammers from themellonfx and there is nothing I can do, this scam is not regulated by anyone, maybe I will save someone's money with this review.
This is an extremely unreliable organization that has no office in Zurich and it has been out of business for 5 years. The scammers can write all they want on their website :( but this is a scam where you will lose all your investment.