Last Updated on: 29th March 2024, 10:53 am
Trading can be tedious! A sea of brokers claiming to be the best brokers out there, making it challenging to distinguish genuine ones from the rest. But that’s far from the truth. Novice traders tend to fall for these claims and get scammed. MetherWorld is a newly emerged broker previously operated under the name Mcoin. But is it a safe option?
How can you know if it’s a scam? Don’t believe everything you see on the broker’s website. We provide a well-researched review of MetherWorld, previously known as Mcoin. Read ahead and find out if you can trust the broker or not.
| FOUNDED IN | 2020 |
| HEADQUARTERS | Estonia |
| REGULATORS | Not Regulated |
| MINIMUM DEPOSIT | $30 for Bronze plan, $90 for Silver plan, $900 for Gold and Platinum plan for $10,800 |
| PLATFORMS OFFERED | N/A |
| TRADING INSTRUMENTS | Forex and Cryptocurrency |
| ACCOUNT CURRENCY | USD |
| MAXIMUM LEVERAGE | N/A |
| CUSTOMER SUPPORT | 24/5 |
| DEPOSIT OPTIONS | N/A |
| COMMISSION | Zero |
| SPREADS | N/A |
| MOBILE TRADING | Yes |
| AFFILIATE PROGRAMME | Yes |
| CONTESTS AND BONUSES | Yes |
What is MetherWorld?
Mether World, is an online platform used for forex and cryptocurrency trading. However, the trading on this platform is done through its propriety currency known as Metherworld coin or m coin which is similar to Bitcoin. The Metherworld m coin price changes so keep an eye on the live market feed. MetherWorld is an unregulated and unverified platform in Estonia, founded in 2020.
Be aware of Metherworld’s Ponzi Scheme, a risky pyramid scheme. We have found that MetherWorld claims to offer several educational resources through Mether Academy, making it crucial to approach their offerings with caution.
As per the website, MetherWorld aims to democratise digital education through Web 0.3 educational resources. Web 3.0 is the next-generation decentralised network. Have you heard of Metaverse?
It’s the same as Web 3.0. And it is going to be the future of the digital era, sharing groundbreaking advancements and transformative possibilities.
What is Mcoin?
Mcoin is the currency used for trading in the MetherWorld platform. If you have a MetherWorld account, you can trade with mcoin as well. You can also swap mcoin with MUSD in your trading wallet within the Mether World platform. For every 27 coins, you can gain $10 in the swap.
What is Mether Academy?
Mether World provides educational resources through its program, Web 3.0 Era, preparing traders for the future in the digital world. Traders can get well-versed in the digital world with these comprehensive courses. Are you looking for educational resources on trading? Check out the Trade245 platform, as it covers many topics.
Mether Academy claims to offer a community of learners for mutual discussions, collaboration, and growth. You can access courses on blockchain, DeFi, cryptocurrency, and others. Now, let’s see what Mether Academy courses cover, previously known as Mcoin.
Educational Courses
Mether Academy provides educational courses to prepare you for the future, enhancing your knowledge and practical skills. It will also cover the latest digital trends to keep you updated.
Continuous Learning
It lets you continue your educational journey, ensuring you’re well-prepared for the future. Since the digital world is ever-changing and evolving, this way, you can keep up with future trends.
Build a Community
Mether Academy allows you to build a community with other learners. You can participate in mutual discussions, learning and growth. A community is like having a trustworthy team to rely upon.
Innovation and Adaptation
Adapting to the latest innovations is the need of the hour. It lets you stay relevant and have a competitive edge. Mether’s comprehensive courses claim to offer the resources that can help you prepare for the future, enabling you to learn and evolve your knowledge.
Package Types Offered by MetherWorld
The MetherWorld website offers four packages- Bronze, Silver, Gold and Platinum. The packages cover a wide range of pricing; you can choose as per your preference.
| Bronze | Silver | Gold | Platinum |
| The Bronze package starts from $30 | The Basic Silver pack starts at $90 | The Gold package starts at $900 | The professional Platinum package starts from $10,800 |
| Standard Silver account: $270 | For the Gold Pearl package, charges are $1800 | Master Platinum program starts at $27,000 | |
| Platinum Silver account: $450 | Premium Gold package starts at $2700 | For the Masters Pro package, the charges are $54,000 |
Pros and Cons of MetherWorld
MetherWorld has perks like educational resources and a reasonable minimum deposit. However, the lack of transparency and regulation makes the perks unreliable. If you are seeking a regulated broker for crypto trading, check out Mitrade.
| Pros | Cons |
| It claims to offer educational resources through Mether Academy | It is an unregulated and unverified Platform |
| The minimum deposit for the basic plan starts at $30 | It has multiple websites |
| It is associated with the Ponzi Scheme. | |
Metherworld Deposit and Withdrawals
Let’s see what deposit and withdrawal mediums does Mether World include for future transactions.
Deposit
You can deposit your funds using the local ebank transfer. Metherworld also enables easy transactions through the ebank and supports crypto on the broker’s website itself.
As you can see below, the broker platform lets you transfer your earning balance to different users.
Withdrawal
You can withdraw your account balance through the same method for future transactions. The minimum withdrawal amount is $50 with a 5% withdrawal service charge. You can find the details on withdrawals on the page below.
MetherWorld Referral:
After registering your account, you will get access to a personal referral link. You can use that link to gain the free referral income up to $0.5. This referral link is an additional perk provided by the broker.
How to Sign Up for MetherWorld?
To sign up for MetherWorld, follow the steps below:
Step 1: Register
Search Metherworld sign up and open the website’s registration link. Once you open the link you will be directed to this page. Once you land on this page, fill in your personal details and click register.
Step 2: Log In
After registering yourself, you have to log into your account. Once you do that, you will directed to your account dashboard.
Step 3: Verify
Metherworld requires you to verify your account through a code provided by the website. Select the ‘Click Here’ button to go to the verification page. As you can see below, you are required to scan the QR code and submit the website’s code to verify your account.
Step 4: Add Funds
Once you have a verified Mether World account, explore the platform’s features and add funds as per your trading needs. After adding funds, you can start trading with Metherworld, buying the assets available on the platform.
Does Metherworld have a Trade Wallet?
Yes, Metherworld does have a trading wallet called BEP20 Wallet. Explore Metherworld wallet by searching for it on the official website. You’ll find the Metherworld wallet login page (as seen in the image). Now, enter your registered user ID and connect your account with the wallet.
The website shows another e-wallet available for transactions, as you can see in the image below. You can transfer up to 10 e-bank values through the Mcash wallet. But this shows that the website has segregated information which made us question the broker’s reliability.
Customer Support
Metherworld has plenty of websites. But surprisingly, there is no information on customer support on any of the websites. We have found the contact sources from other websites.
Metherworld lets you contact them through the following:
- Phone: +372 462 6285
- Email: [email protected]
But this information is not on Metherworld’s official website. So, there is no guarantee of its authenticity. The website offers customer support through ticket raising. You can raise a ticket then your concern will be addressed at an assigned time.
Metherworld Mobile App
Metherword offers broker easy and convenient trading through the Metherworld mobile app, previously associated with Mcoin, which is available on both iOS and Android devices. You can download the app on devices that support it and trade with your convenience.
Are Metherworld’s Claims Reliable?
Let’s see if Metherworld is reliable or not. We have researched and found various reasons why Metherworld, previously associated with Mcoin, is potentially a dangerous platform. Here’s why:
Problematic Regulation
Can you see the yellow triangle in front of Market Cap? It indicates that the broker platform is unregulated and unverified.
But is it a self-reported circulating platform if it is not regulated by a financial authority? No! As you can clearly see in the picture, there are concerns tied to its association with Mcoin.
These issues are the biggest red flags indicating the company’s vagueness. IFX broker has a verified market cap; you must check it out!
Multiple Websites
When you search Metherworld, you will find an official website. However, several other websites of the same name are attached to different broker review websites, previously known as Mcoin.
As you can see, the broker platform has three different user interfaces. Metherworld, previously known as Mcoin, had a Mcoin official website with different information and a user interface.
This shows that the platform constantly changes its website to mislead traders and benefit from their investments. So, do not believe everything on a broker’s website, especially if it’s unregulated, as was the case with Mcoin.
Bad Reviews
- Source: WikiFX
Customers who have experienced trading with Metherworld have posted their experiences. The reviews give a glimpse of what the broker offers, which in this case is uncertainty and lack of transparency. Given the concerns tied to its association with Mcoin, to end your search for a reliable crypto broker, I would suggest the Lexatrade platform.
Conclusion
It is as clear as day that Metherworld is an unreliable broker. We have found several reasons to support this claim, including its association with Mcoin. It has no regulation or verification. The platform has multiple websites with the same domain name, which can be misleading and cause scams. Moreover, the lack of transparency and bad reviews sums up the conclusion.
So, if you are looking for a good crypto trading broker. I suggest you stay away from Metherworld or Mcoin and opt for a more trustworthy broker like Vault Markets.
