About MEKNESS
Broker Overview
Mekness is a trading name for Mekness LLC, a broker registered in Saint Lucia and founded on August 24, 2020. The company lists its registered address at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. The official website is mekness.com.
Mekness presents itself as a multi-asset broker offering forex, stocks, futures, and corporate finance services. The broker operates with no known regulatory oversight, as verified by FXCanary's checks against regulatory registers. This lack of regulation is a significant factor for traders to consider.
Regulatory Status and Risk
Our research found that Mekness does not hold any valid financial services license from a recognized regulatory body. The broker's registration in Saint Lucia, an offshore jurisdiction with less stringent oversight, means traders are not afforded protections such as negative balance protection or access to compensation schemes.
Traders should be aware that operating with an unregulated broker carries increased risk, including potential issues with fund security and dispute resolution. FXCanary's Scam Risk Score for Mekness is 75 out of 100, indicating a severe risk level.
Trading Conditions
Mekness offers trading on the MetaTrader 5 platform, which is accessible on desktop and mobile devices (iOS, Windows, Android). The broker claims to provide competitive spreads starting from 0.01 pips and leverage up to 1:500.
Account types mentioned include a real account and a demo account for practice. While specific details on minimum deposit requirements are not publicly available, the broker promotes deposit bonuses and no-deposit bonuses, which may attract traders.
Product Offerings
According to the broker's website, investors can trade forex, with leverage up to 1:100 on individual products, as well as 452 stocks and 10 futures contracts. Mekness also lists corporate investment products such as mergers and acquisitions and corporate finance, suggesting a dual focus on retail and institutional clients.
The range of products is broad but typical for a multi-asset broker. However, without independent verification, the actual execution and availability of these products remain based on the broker's claims.
Client Resources and Support
The website provides resources such as a 'ForexPedia' for educational content, comparison tools for spreads, and information on a multi-level IB (Introducing Broker) program and a trading contest. Contact options include a contact page and a complaints procedure.
Despite these resources, the lack of regulatory oversight means that clients may have limited recourse if issues arise. Prospective traders should exercise caution and conduct their own due diligence before engaging with this broker.
Target Audience
Mekness appears to target both retail traders and corporate clients, offering a range of services from leveraged forex trading to corporate finance. The high leverage and bonus promotions are often aimed at less experienced traders.
However, given the unregulated status and high risk score, Mekness may not be suitable for most traders, particularly those who prioritize fund safety and regulatory protection.
Conclusion on Known Facts
In summary, Mekness is a Saint Lucia-registered broker without any known regulatory licenses. The company's claims include high leverage, low spreads, and a wide product range, but these are unverified by third-party oversight. Traders should weigh these factors heavily when considering an account with Mekness.
Overview compiled by FXCanary from regulatory records and public data. full MEKNESS review