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The WikiFX Score of this broker is reduced because of too many complaints!

MSFX

United States|Scam Brokers|
5-10 years|Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

http://msuccessfx.com/

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http://msuccessfx.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

M.SUCCESS INTERNATIONAL HOLDING

Company Abbreviation

MSFX

Platform registered country and region

United States

Company website

Pyramid scheme complaint

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This platform is a Ponzi Scheme. Please stay away! 6
Previous Detection : 2024-03-02
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

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Pyramid scheme complaint
Expose

    MSFX · Company Summary

    Official Website Unavailable

    As of now, the website of MSFX (http://msuccessfx.com/) is not available. We can only find some fragmentary information on the Internet, and most of them are negative reviews.

    General Information

    MSFX claimed to be a forex and CFD broker based in New York, offering a number of trading instruments on the MetaTrader5 platform. And they also mentioned to be regulated in the UK by the local Financial Conduct Authority (FCA). Unfortunately that claim turned out not to be true, and as a whole there are a lot of question marks about this broker.

    Fake MT5 Trading Platform

    MSFX said to be offering the MetaTRader5 platform, but that also turned out not to be true. They just provide a link to the MetaQuotes Software website to download an unlicensed demo version. An unlicensed demo version of a trading platform spells doom for any trader. They are security risks as hackers find them easy targets for data theft. In most cases, these hackers will steal credit card information and identities.

    Excessive Minimum Deposit

    For any member to trade with MSFX, they must deposit a minimum of $1,000. What this broker is asking for is in excess of the required industry standards. Make sure to use brokers who use the set minimum deposit of $250. Some brokers will not even ask users to pay for opening an account.

    Risk Warning

    The number of the complaints received by WikiFX has reached 9 for this broker in the past 3 months. This broker has been verified to be illegal and all of its licenses have been expired. Also, it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk and the potential scam!

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    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
    License or other information error corrections, please send the information to:qawikifx@gmail.com
    Cooperation:fxeyevip@gmail.com