MetisEtrade Reviews

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MetisEtrade Forex broker reviews

  • Website:
  • Year since: 2013
  • Headquarters: Republic of the Philippines
  • Company registration: MetisEtrade Inc., Philippines
  • Regulation: Bangko Sentral ng Pilipinas (Certificate No. FX-2012-004784); SEC of Philippines

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29 Reviews


MetisEtrade is registered with BSP(Central bank of Philippines) as Forex Dealer. MetisEtrade clearly states on its incorporation document with SEC that MetisEtrade offers Online Forex Trading Services. MetisEtrade became industry leader in Philippines within the first two years of its operation.

In January 2015, Vivian B. Calalo-Macapagal, a trial attorney from SEC came to the office of MetisEtrade and asked for money. Government extortion is common in Philippines. However, the management of MetisEtrade decided not to entertain Vivian Macapagal’s request and a few months later, Vivian Macapagal from SEC issued Cease and Desist order to MetisEtrade. The Cease and Desist order which is also available on website of SEC in Philippines is simply a joke if you read it. Not to mention about legality of the claim by Vivian Macapagal, but there are so many typos in wordings and errors in procedure. It is so shameful that such Cease and Desist order was signed by all five commissioners in SEC.

To fight for such injustice, MetisEtrade hired ACCRA Law, one of the largest law firm in Philippines. A few days later, ACCRA Law came back to MetisEtrade asking to pay 7.5million peso to resolve the issue with SEC. Justin Jung would not pay 7.5 million peso from client deposits and instead he hire Yun Ho Lee from Korea to help MetisEtrade. However, Yun Ho Lee was a bigger swindler. From the moment, he started working at MetisEtrade as Chief Operation Officer, he misused company fund mostly for his and his wife personal benefits. MetisEtrade is a financial service company. Client deposits are considered as company asset and many financial service companies like banks and insurance companies do use clients’ deposits to operate, to invest and to lend for more profits. Yun Ho Lee also knew about this fact that client deposits at MetisEtrade are used for operation, but Yun Ho Lee has increase the spending of MetisEtrade by almost three times once he took the position.
Because of misuse of company fund by Yun Ho Lee, MetisEtrade were experiencing financial difficulties. Due to this reason, Yun Ho Lee was fired after the first year of his contract with MetisEtrade. Then Yun Ho Lee teamed up with Bob Modequilo, a well-known Ponzi scammer in Philippines, (http://www.ripoffreport.com/reports/fortune8-global-limited/internet/fortune8-global-limited-fortune8-fortune8-light-fortune8-lite-company-operates-as-anoth-1261870)

Yun Ho Lee and Bob Modelquilo working together with Attorney Joey Guillen and Attoney Dex in Cyber Crime Division in NBI and Judge Antonio M Olivete conspired together to extort money from MetisEtrade. NBI raided MetisEtrade office on the 27th of October 2016. It was a very well planned infamous Christmas raid by NBI. NBI(National Bureau of Investigation in Philippines) is known to target foreign owned companies especially near the year end to extort money so called Christmas gift. Two days before a long weekend, over 50 NBI people came to MetisEtrade office and steal every office equipment that has value. NBI wrecked the office in three hours completely stealing everything from candies to plat screen TVs total worth over 1 million peso. Again, ACCRA Law was called to deal with illegal stealing of NBI. After several hours of negotiation, ACCRA Law came back with a deal to pay 10.5 million peso to preventing NBI from stealing and arresting illegally. Bob Modelquilo claimed that 10.5 million will be divide between himself, Yun Ho Lee and NBI people. Directors of MetisEtrade had to pay all cash in company bank accounts and their personal bank accounts for NBI to release them. Directors of MetisEtade also had to promise NBI that they will pay rest of money in coming weeks. Justin Jung other directors of MetisEtrade with no more money in their banks and their lives being threatened by these NBI gangs had no choice but to leave Manila. It is also common that law enforcers in Philippines kidnap and kill people for money. http://www.independent.co.uk/news/world/asia/philippines-police-officers-murdered-angeles-cremated-south-korean-businessman-ji-blackmail-wife-a7533666.html

I have worked with Justin Jung for a few years. He is smart and cocky. He is bold and rude, so he makes a lot of enemy. But he is not a scammer. Most of all, he does not have any ill intention to anyone or anything. MetisEtrade used the clients fund for operation, but Justin Jung never get any salary drown from the company. In 2016 alone, Justin Jung deposited over 15 million peso to MetisEtrade to cover client withdrawals, to pay salary of employee, and to use for his own expenses in Philippines and to construct the new office for expansion while Yun Ho Lee took a large fund from clients’ deposit to pay himself salaries and housing. Most of clients’ fund are used to pay salaries of employees of MetisEtrade and to pay vendors, who are friends of Yun Ho Lee.

Justin Jung invested a lot of money and time in Philippines for over ten years but he left the country with the worst memories and experiences any foreign investor could have. I really do not blame him if he never even wants to think about Philippines. It is just a shame what is happening here.



After trying demo accounts from different companies. I’m making a live account with MetisEtrade.
Good customer service,convenient deposit, tight spreads , they even teach you how to trade. really excellent



I’ve noticed that the platforms they offer is free and user friendly with complete indicators set for pattern analysis. On their website, They provide trading recommendations and different kind of platforms. I advise everyone to try out a demo account for Binary FX trading platform. It is kinda unique platform because you just set your trade-off and set either up or down. This broker said to be the first and only FOREX dealer-broker to be licensed by BSP. I presumed that the company has a good reputation to investor because it has a capacity to entry the forex market. In addition, unlike stock brokers, this broker offers diversified asset investments such as the currencies, oils, stock indices and commodities.

Actually, I attended their seminars on forex trading. I see that there is a lot of opportunities on forex trading because the market cannot be manipulated. Even though there are a lot of forex brokers around the world, This broker is based in the Philippines which we need if we have any complains on having technical difficulties or recommendations on trading.



Low spreads, and reliable transaction posting. Another important trait for that they have is the accessibility and friendliness of their back end office personnel. There will always be some there to answer any queries. But i would say the best thing about this broker is the 30 minute time frame withdrawal, fast and reliable. If you already have a broker, change to MetisEtrade, for first time trader i highly suggest you go with this group.

Thanks!



Where else can you find an online brokerage firm which is located in our country that accepts Philippine Peso deposit for your trading?? For me this is a hassle free broker where everything, from signing up, up to the deposit and withdrawal of funds are ONLINE. All you need to is your computer and an internet connection and you are all set to trade. Using their online transfer to the 3 major banks in the country, it really is a no hassle on the client part in depositing and or withdrawing funds. Now let’s move on the trading part, yes MetisEtrade has a fast execution when it comes to placing your trades, I’ve never tried other brokers but based on what I have heard from my colleagues who are invested in other brokerage firms, they have a delay of a maximum of 10 seconds when executing a trade. Yes they also have LOW spreads, it’s either the same with other brokers or even lower.



One of the most competitive local forex broker in the Philippines. They do have their office in The Fort Global City so transactions are easy. Plus they have PHP account!


I just like to enumerate what I like about MetisEtrade:
1. It is the only currency trading broker that is mainly focused in the Philippines.
2. It has a physical office located in Taguig City and is regulated by the Bangko Sentral ng Pilipinas and Securities and Exchange Commission. Thus, any irregularities a trader may find about the company, he can file it here and not abroad.
3. No wire transfer fees in funding an account, which is a big savings for a trader. Such fee can then be added to one’s fund. (I’ve funded my account last year to a broker in UK and it cost me $40…with this broker, it’s for free.)
4. Competitive spreads.
5. It provides free forex education for newbie traders in their office. Most of the forex seminars I find, you have to pay for a fee to be able to learn.
6. You can open an account using Philippine Peso.
7. You have an option to trade PHP against other currencies.
8. Aside from MT4 they also have the Metatrader 5 trading platform. (It has an economic calendar, 38 technical indicators, faster execution speed compared to MLQ4 language, trade also CFDs – stockmarket indices, precious metal, etc.)
Having a local broker around means that the company is seeing more potential Filipinos becoming sophisticated investors/traders. I noticed too that the company is sincere in educating people to become knowledgeable in trading currencies and CFDs so it think the company deserves some support. Given that they educate traders for free, they would help the Filipino forex community to further grow. (Statistics says that there is only 1% of Filipinos trading in stocks…so how about Forex? It may be even less than 1% of our population.)
Let’s just think that there might come a time when there will be more local brokers in Philippines and I bet all of them will compete for the tightest spreads…so definitely more Filipino traders will benefit from these. A win-win for all.



The platform is fast, bug-free and easy to use. The spreads are tight which usually ranges between 1-2 pips for the major currency pairs. Their support team is very accommodating and helpful as their website provides in-depth daily analysis and recommendations.
Being registered under the BSP is a huge plus for me as I don’t need to pay wire transfer fees for funding or withdrawing my account.
I definitely recommend MetisEtrade, so far I have not seen or experienced anything from this brokerage that would disappoint me.



You feel the difference when you step in their office. A BSP license number greets you at the door and it instantly makes you feel at ease, since it’s your money they are dealing with! The CEO is accomodating and even entertains small retail clients, which is refreshing in this kind of business. The staff gives timely advice and in-depth analysis which gives you more confidence in deciding your position for your trade. I also believe METIS is the first-of-its-kind company in the Philippines, trading not only currencies, but also oil, U.S. stock indices and precious metals.



Currently, Im on the learning process on FOREX trading as I just started last month and my first FX broker is MetisEtrade. They only not offer one of the lowest spread in industry, but also generous enough to offer free seminars and lectures about trading. In addition to this, they also organize event, (which is called the Happy Trading Hours) every Friday, to give chance to client to trade with the senior and experienced traders during the most volatile hours. I consider MetisEtrade not only a FX broker, but also a trading adviser/mentor which are willing to help existing and potential clients calculate risk and maximize their trading capital.



I do love the fact that they accept PHP deposits, good for people who trade in the Philippines. Execution is fast and customer service is attentive. Spreads are fair, around 1.3 pips for t6he EUR/USD.


Yep. Not biased or something but surely, they offer LOW spreads. Also, they’re the IDEAL broker for Filipinos because they offer trading in PESO wth MT5 ( Their MT4 still needs work on the peso though but still, good job on this). I bet competitors will come rushing in next year. Oh well, I’m excited to see how the competition for local brokers will go.. but right now, I see no direct competition against MetisEtrade.


Happy because usually brokers in the Philippines are foreigners. Physical presence from this broker means added security for the funds I deposit with them. Low spreads too, and instant execution. Overall a satisfied trader



MetisEtrade’s office is located at the fort, Taguig Philippines. They have a nice web site it is easy to navigate ! People from MetisEtrade are very approachable you can address your concerns and quickly answer your questions. They are the first local forex broker in the Philippines that offers local currency which is the Philippine Peso. They have the latest Trading platform which is the Meta Trader 5 and they also have a Binary trader. One thing that I’ve notice that MetisEtrade is a new company they have started their company last year. But I’ve heard that the CEO of this company have a hedge fund company back at New York, and he saw the opportunity here in the Philippines to put up a locally based forex broker but in a different name.



I have no experience in trading but so far I find trading fun and exciting because of Metisetrade. Because of Metisetrade I was able to know more about this market which I don’t have any idea before.