Are you planning to trade with an MFX Broker broker? Or you have already invested money and want to know whether MFX Broker is legit or a scam? Read this MFX Broker Review written by Scam Helpers’ experts.
MFX Broker, with its main office in St. Petersburg, Russia, was established back in 2006. On the most widely used trading platform, MetaTrader 4, the brokerage provides trading in currency pairs, CFDs on futures and stocks, as well as binary options. The brand is held and run by Belize-registered company Master Services Inc.
Brokers licensed in Belize, despite being an offshore zone, must meet certain requirements established by the International Financial Services Commission (IFSC).
Customers of MFX Broker have a choice of four account categories. Standard and micro-accounts offer fixed spreads and are commission-free, whereas spreads on ECN accounts are tight and variable but subject to a small fee. Only standard account types allow trading with micro amounts.
Keep in mind that CFDs are only accessible on the specific CFD account while trading in these accounts is limited to forex and spot metals.
MFX Broker Review – How safe is to invest here?
Scam Helpers Team which has done a lot of work in researching for MFXBroker Review, advises investors not to invest in MFX Broker, as it is suspected to be a potential scam broker. It is advised to first look at what other people are saying about the company you wish to invest in to prevent being conned by an investment scam plan.
After conducting some research on investing forums and social media platforms, we learned that many people had negative experiences with MFX Broker and left conflicting opinions about it. You should examine it before making an investment because it appears that MFXBroker is an unreliable investment company. Read a complete MFX Broker review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
Address: St. Petersburg, Russia
Warning: Not recommended by review website like Scam Helpers
Risk is an integral part of every type of trading. A genuine investment provides the broker with an excellent opportunity to earn a profit if they make the right decisions. We have done profound exploration, looked at various brokers and trading conditions, and prepared a comprehensive list of scam brokers 2023 to aid your decision-making.
We include the name of MFX Broker here because it is not a legit broker. For fledgling brokers or clueless clients, MFXBroker.com will appear as a genuine investment opportunity for unsuspecting users and novice traders.
We are here to expose this broker by providing this MFX Broker review and share with you the reason for presenting this MFXBroker.com review.
Also, read Crypto Master review to know about similar scams.
Proofs that MFX Broker is a scam
Investment scams such as Forex trading scams, Binary scams, Crypto scams and others are hard to spot. But still there are many signs why MFX Broker is suspected as a scam broker. Let us read them,
After taking a look at their website, we found numerous warnings that should be enough for you not to invest in them. Some of the reasons why we include MFX Broker as an unsafe broker.
Regulation And Safety Of Funds
Being an unregulated firm is the worst thing, and it makes you an exploitative cheat. MFX Broker is a scam, and your money is at risk.
By investing your money in an unregulated and unlicensed broker, you are indirectly putting your funds in danger. For that reason, we ask our readers to invest with brokers who have licenses from authorities like FCA, ASIC, FMA, etc. Authorized brokers are covered by many prerequisites, and a large number of them apply anti-fraud practices. As such, they are the specific inverse of what these brokers and others like them represent.
Deposit And Withdrawal Methods And Fees
There is a reason why these fraudsters, as well as many other scammers, would frequently advise you to deposit in cryptocurrency. You cannot get a chargeback on such transactions because they are entirely irreversible and all of them are recorded in a ledger that cannot be modified later. Depositing money with scam brokers is therefore, rarely a good idea. If you have already invested your money with MFX Broker, you should immediately ask for a withdrawal as your money is not safe with an unregulated broker.
With MFX Broker, if you ask for a withdrawal, they will postpone the process by giving some reasons for a long time so you can find no alternative to file a complaint.
Customer MFX Broker Reviews
Scam Helpers found that MFX Broker got negative customer reviews and ratings on all other sites, and also got low trust scores among users. With this review and after reading all the negative and positive MFX Broker reviews, we found that this broker is not regulated and might be a potential scam broker. To avoid these scams, we provide a list of scam brokers 2023 on our website.
Commitments of Ensured Benefits
Any moneymaking promises in the financial market come with a risk. Some brokers will attempt to let you know that their financier can assist you with turning ensured benefits when you utilize their platform.
If you get attracted by such brokers, there’s a chance of getting scammed by them.
How does MFX Broker Scam Work?
Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.
They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is MFX Broker broker Legit or a scam: Conclusion
It is clear from MFX Broker review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from MFX Broker and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Scammed by MFX Broker? Scam Helpers can help
If you are a victim of MFX Broker scam, or other scams like forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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