Introduction

This blog post offers a full scam-focused review of MyTrade.com.ph, a trading platform widely known in the Philippines. While it presents itself as a legitimate and easy-to-use online trading service, numerous red flags, user complaints, and questionable practices have led many to label it as a scam. This review aims to break down all warning signs and provide clarity on why MyTrade.com.ph should not be trusted with your money.

If you’ve been tempted to open an account with them, read this comprehensive scam review before you make any financial decision.

What Is MyTrade.com.ph?

MyTrade.com.ph claims to be an online trading platform operated by Abacus Securities Corporation, providing stock trading services in the Philippines. It promotes features such as real-time market data, stock charting tools, portfolio tracking, and mobile trading applications.

At first glance, everything appears professional. The design of their website, the branding, and their supposed connection to a known financial institution all create the image of a legitimate operation. However, deeper investigation and numerous user experiences tell a much darker story — one that aligns with typical scam operations in the online trading industry.

Major Red Flags Pointing to a Scam

1. Inconsistent User Reviews and Complaints

A large number of users have shared experiences of losing funds or being unable to withdraw their profits from MyTrade PH. Many claim that the system works smoothly during deposits but becomes problematic once withdrawal requests are made.

Others report frozen accounts, lack of customer response, or requests for endless verification steps that never lead to actual fund release. Such inconsistencies between the company’s claims and user experiences are a classic indicator of a fraudulent trading platform.

2. Withdrawal Problems and Account Freezes

Scam platforms often let users deposit funds effortlessly but make withdrawals nearly impossible. MyTrade.com.ph appears to follow this same script. Several customers report that after small profits, their withdrawal requests get “stuck in review” or remain pending indefinitely.

Some users have allegedly waited weeks or even months for processing, only to be told that their accounts were under “internal investigation” or “compliance review.” During this process, communication becomes difficult, and support responses stop altogether.

These are common techniques used by scam brokers to trap investor funds while maintaining a façade of legitimacy.

3. Lack of Transparent Regulation

Although MyTrade.com.ph claims to be connected with Abacus Securities Corporation, there is no clear, verifiable license information publicly displayed on their website.

Legitimate trading platforms always list their regulator details, license numbers, and governing authority. The lack of this crucial information raises serious doubts about who truly operates behind the platform. Many investors might assume the connection to a known name means full legitimacy, but that’s not always the case.

Opaque regulatory status is one of the strongest signs of potential fraud.

4. Overhyped Marketing Claims

MyTrade.com.ph promotes itself with bold statements like “The most innovative trading platform in the Philippines” and highlights supposed awards and achievements. However, there’s no verifiable source or recognition to back these claims.

Scam brokers often use exaggerated marketing to lure investors — offering the illusion of trust and success without real evidence. When awards, reviews, or certificates cannot be independently verified, that’s a strong indication that the platform is not what it claims to be.

5. User Reports of Fake Support and Ignored Queries

Another key indicator of a scam is poor or non-existent customer support. Many users report that after they begin facing issues — especially withdrawal-related ones — all communication channels suddenly stop working. Emails go unanswered, live chat options vanish, and phone calls are ignored.

In legitimate companies, customer service remains responsive even during disputes. The opposite behavior — silence during financial problems — is a huge red flag.

How the MyTrade.com.ph Scam Typically Works

To better understand the pattern, imagine this common scenario:

A user signs up for MyTrade PH, uploads their identification, and deposits ₱10,000. The platform works smoothly, trades execute normally, and everything seems fine. Encouraged, the user deposits more, maybe ₱50,000 or even more.

Then, when they try to withdraw even a small profit, the platform delays the process. The status shows “under review,” or they are asked for additional verification documents. Days turn into weeks, and the account eventually becomes restricted or inaccessible.

At this point, the user realizes the truth — their funds are likely gone. This exact pattern has been reported by multiple individuals describing MyTrade PH’s operation, matching textbook scam behavior.

Why MyTrade.com.ph Is Considered a Scam

When assessing whether a platform is a scam, several critical signs stand out. In the case of MyTrade.com.ph, all of them are present:

• Numerous unresolved withdrawal complaints across online discussions.

• Lack of visible regulatory authority or official licensing data.

• Contradictory company information, raising questions about who controls user funds.

• Overly positive self-marketing, with no independent verification.

• Silence from customer support once funds are deposited.

Each of these elements alone would raise suspicion. Combined, they form a strong case that MyTrade.com.ph operates more as a deceptive scheme than a legitimate brokerage service.

Why Some People Still Believe It’s Legitimate

Despite growing scam claims, a few users still believe that MyTrade PH is genuine. This often happens for several reasons:

• Small-scale success stories: Some users trade tiny amounts and manage to withdraw minimal profits. Scam brokers sometimes allow this to build trust before trapping larger deposits.

• Association with Abacus Securities: The brand connection gives an illusion of trust. However, without full transparency, such association can be misused for credibility.

• Professional branding and website design: A modern interface can easily convince newcomers that the platform is official.

These tactics make it difficult for average investors to distinguish real brokers from cleverly presented scams.

General Lessons to Avoid Falling for Scams

The MyTrade.com.ph case highlights the importance of proper due diligence before trusting any online trading platform. Here are some crucial lessons every investor should remember:

1. Always verify regulation. Make sure the platform lists its exact license number and the regulator’s name.

2. Test withdrawals early. Always try withdrawing small amounts before depositing larger sums.

3. Research user experiences. Look beyond promotional reviews and find authentic feedback from real investors.

4. Avoid emotional decisions. Scammers rely on urgency and hype. Take your time before committing funds.

5. Stay cautious of high returns. If something sounds too good to be true, it almost always is.

Final Verdict: MyTrade.com.ph Is Not Trustworthy

After analyzing the evidence, the conclusion is clear: MyTrade.com.ph displays all the hallmarks of a scam. The combination of fake marketing, withdrawal problems, lack of regulatory proof, and multiple user complaints makes it a high-risk and untrustworthy platform.

Report MyTrade.com.ph and Recover Your Funds