Comprehensive Review of Millennium Trading

Before you decide to entrust your money to this company, let’s break it down: what exactly is this platform? Is it a scam or a trustworthy and safe broker? Yes, there are positive reviews about Millennium Trading online, but it’s better not to trust them.

Highlights

Key Trading Features

To evaluate the trading conditions, let’s examine the account plans offered by Millennium Trading. There are five options with varying minimum deposits and conditions. The first account type requires $250 — a threshold we’ve seen repeatedly with brokers, and the outcome is always the same: scams. Will this company be any different? While the EUR/USD spread seems minimal at 0.00003, the $6 per lot commission instantly increases your trading costs. This setup benefits the broker, not the trader.

Next is the Standard account, requiring a $500 minimum deposit. This raises immediate questions: what exactly distinguishes this account from Nano to justify doubling the deposit? The spreads widen to 0.00013, and there’s no lot commission, but the overall cost of trades remains high. Why should a client pay more for only slightly improved conditions?

Moving on to the Max account. The minimum deposit jumps sharply to $5,000, which already deters most retail traders. While there are no lot commissions, the CFD stock commission rises to $0.06 per contract. Spreads are slightly better than on the Standard account, but the overall terms still don’t justify such a large investment.

Then there’s Tera, requiring a $10,000 deposit to start. It feels like Millennium Trading is trying to convince clients that the more you pay, the better the conditions. However, in reality, the spreads and commissions remain nearly unchanged. The only notable difference is an increased lot size of 100,000. What does the trader gain from this? Absolutely nothing — just higher risks.

Finally, we reached Alpha, the most expensive account. The minimum deposit is a staggering $25,000. This package offers no significant advantages over the previous ones. So why does it exist? The account plans to provide little that is unique. Why not consolidate them into a single account? And where are the cent account and swap-free options?

Leverage of 1:400 is not only extremely risky for traders but also a clear violation of the standards set by financial regulatory commissions. Regulators prohibit firms from offering such high leverage for a reason. This raises a serious question: does Millennium Trading even have a license? We’ll explore that later.

Overview of Available Trading Instruments

The range of assets available for trading is large — over 1,000 instruments. These include stocks from various countries, stock indices, metals, cryptocurrencies, and forex. In essence, Millennium Trading offers standard markets with nothing particularly unique.

Trading Platform Analysis

The trading terminal offered by Millennium Trading appears interesting at first glance and includes some additional options. However, it clearly lags behind popular platforms. Yes, Millennium Trading’s platform supports technical analysis, user-generated signals, copy trading, market news and analytics, and both market and pending orders. It also provides a mobile version, but only for Android, and a desktop version. And that’s about it.

Advanced features like uploading custom indicators or personalized settings are missing. There’s also no order book or depth of market. Overall, the terminal feels underwhelming. It might be suitable for beginners, but it lacks the functionality needed by experienced traders.

Additional Services

Millennium Trading claims to offer several additional services meant to create the illusion of trader support. They mention 24/7 customer service, personal account managers, and exclusive access to portfolio managers for VIP clients. However, these are just words, with no proven effectiveness. It’s also worth noting the absence of educational materials. For a company that claims to “put the client first”, this is surprising.

Fee Structure

All commissions and spreads are detailed in the account plans. For example, on the basic Nano plan, you’ll pay $6 per lot for each trade. On other plans like Standard and Max, Millennium Trading removes the fixed commission per lot but compensates with wider spreads. For Standard, the spread increases to 0.00013.

As for deposits and withdrawals, the company does not mention any related fees. This raises legitimate concerns about potential hidden charges.

Legitimacy of Millennium Trading

Is it true that the company is legally based in the UK? Let’s investigate. The legal address is listed as being in England, and the site claims to hold a license from CySEC. Starting with the license, there are no license numbers, links to registries, or supporting documents — just empty claims. This is a common tactic used by scam companies to create the illusion of legitimacy. We even checked the CySEC registry and found no such broker listed. The same goes for the FCA, as a UK-based broker is required to obtain a license from this regulator.

There are no legal documents to verify their registration — no scans, certificates, incorporation papers, or anything else that could confirm their claims. The absence of such data isn’t just unusual; it’s a glaring red flag.

In the UK’s Companies House registry, there are firms with the name “Millennium Trading,” but none of them are connected to millennium-trading.co. It’s highly likely that the creators of this platform intentionally chose the name “Millennium Trading” to trick beginners into thinking the firm is legitimate. This is a devious and fraudulent tactic.

Company History

The official site boldly states: “Since our founding in 2019”. However, there is no evidence to support this claim. On the contrary, we found proof to refute it. For instance, the domain millennium-trading.co was registered on September 3, 2024 — not in 2019. So the founding date is just another lie.

Conclusion

When a broker uses someone else’s name and lies about having licenses, it’s a guaranteed sign of a scam. Unfortunately, Millennium Trading engages in fraud, not honest and safe brokerage services. There’s no point in investing your money here — it will be stolen.

Weighing the Pros and Cons

Common Questions