Myrtle

Myrtle Trade Brokerage is registered in Iraq and has been operational since 2022, providing services for about 1-2 years. The broker offers over 60 tradable instruments, including currency pairs, commodities, and indices, with leverage up to 1:100 and spreads starting from 1.5 pips on the MetaTrader 5 platform.
Myrtle currently lacks regulatory oversight, having no valid forex licenses, which raises concerns regarding its safety and legality as a trading entity.
User feedback on Myrtle indicates a mixed reputation, with concerns about its unregulated status overshadowing some positive aspects like the use of the MT5 platform. Customers have noted issues related to the quality of customer service and withdrawal processes, with a frequency of complaints suggesting challenges in transparency and support, though some users appreciate its competitive trading conditions.

Capital Protection Measures

Myrtle Trade Brokerage does not hold client funds in independently regulated bank accounts, nor does it have regulations governing the segregation of client assets from its own. As a result, there are significant concerns regarding the safety of client funds, given the absence of regulatory oversight.

Myrtle Leverage

The broker offers leverage of up to 1:100 across its trading products. However, as Myrtle lacks any regulated licenses, it does not comply with local regulatory requirements that may exist in jurisdictions where it operates, raising questions about the appropriateness of its leverage offerings for retail and professional clients.

Myrtle Trade Brokerage has a mixed reputation among users, with notable complaints regarding withdrawal processes and customer service. Reports indicate that many users have experienced delays and difficulties in accessing their funds, which is a significant concern given the broker’s unregulated status. Feedback from credible sources suggests that these issues are not isolated, with multiple users voicing similar frustrations. Myrtle’s response to complaints appears to be inconsistent, and there is no indication of regulatory penalties or warnings related to these withdrawal issues. Overall, the frequency of complaints raises questions about the safety and reliability of trading with Myrtle.