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Main Group FX

Australia|2-5 years|
Regulated in Australia|Suspicious Regulatory License|MT4 Full License|Regional Brokers|Australia Appointed Representative(AR) Revoked|High potential risk|

https://maingroupfx.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
MainGroup-Demo MT4
Server Location United States

Contact

support@maingroupfx.com
https://maingroupfx.com/
65 Victoria Ave, Chatswood, NSW 2067, Australia
https://www.facebook.com/maingroupfx/

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

MainGroup LLC

Company Abbreviation

Main Group FX

Platform registered country and region

Australia

Company website
Twitter
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Instagram
Linkedin

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • AustraliaASIC (license number: 001301900) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

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Main Group FX · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Main Group FX Review Summary in 10 Points
Founded 2018
Registered Country/Region Australia
Regulation ASIC regulated
Market Instruments Forex, Indices, Stocks, Metals, Energies
Demo Account Not available
Leverage Not specified
EUR/USD Spread Start from 0.0 pips
Trading Platforms MT4
Minimum Deposit Not specified
Customer Support Phone, Email, Contact Us form, Social media, Live chat

What is Main Group FX?

Main Group FX, a trading name of MAIN GROUP FX PTY LTD, is a global ASIC-regulated brokerage firm based in Australia. It provides traders with access to financial instruments including Forex, Indices, Stocks, Metals and Energies.

Main Group FX's home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• Regulated • Limited info on deposit/ withdrawal
• Various account types to suit different trading needs • Limited info on commissions
• Rich educational resources for traders of all levels • Limited info on leverage
• MT4 platforms
•Wide range of trading instruments across multiple asset classes

Main Group FX Alternative Brokers

There are many alternative brokers to Main Group FX depending on the specific needs and preferences of the trader. Some popular options include:

  • AvaTrade- AvaTrade is a reputable broker known for its comprehensive educational resources and user-friendly trading platforms, making it a solid choice for traders of all levels.

  • FXCM- With its strong reputation and advanced trading technology, FXCM is a trusted broker offering competitive spreads and a wide range of trading instruments, suitable for both beginners and experienced traders.

  • Plus500- Plus500 stands out for its intuitive platform, extensive range of tradable assets, and commission-free trading, making it an attractive option for traders looking for a user-friendly and cost-effective trading experience.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Main Group FX Safe or Scam?

When considering the safety of a brokerage like Main Group FX or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: It is authorized and regulated by the Australian Securities and Investment Commission ( ASIC ), But it is important to note that experience alone does not guarantee the legitimacy or security of a brokerage firm.

  • User feedback: Read reviews and feedback from other clients to get an understanding of their experiences with the brokerage. Look for reviews on reputable websites and forums.

  • Security measures: Main Group FX implements Negative Balance Protection as part of its security measures, ensuring that clients' accounts are protected from incurring negative balances in the event of significant market fluctuation

Ultimately, the decision of whether or not to trade with Main Group FX is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

Main Group FX offers a diverse range of trading instruments, including Forex, Indices, Stocks, Metals, and Energies.

With Forex, traders have the opportunity to participate in the largest and most liquid financial market, allowing them to trade major currency pairs and take advantage of currency fluctuations.

The Indices category provides access to a variety of global stock market indices, enabling traders to speculate on the performance of entire markets rather than individual stocks.

Stocks trading allows traders to invest in shares of various companies, giving them exposure to the equity markets.

Metals, such as gold and silver, offer traders a way to diversify their portfolios and potentially hedge against market volatility.

Lastly, Energies trading involves commodities like oil and gas, providing traders with opportunities to trade in these energy markets.

Market Instruments

Accounts

Main Group FX offers a range of account types to cater to the diverse needs of traders. These include the Basic Account, Standard Account, Advanced Account, Premium Account and Pro Account. Each account type is designed to provide traders with different features, benefits, and trading conditions. However, the specific minimum deposit requirements for each account type are not disclosed and may vary. To obtain detailed information about the minimum deposit requirements for each account type, it is recommended to consult directly with the broker. The broker will be able to provide accurate and up-to-date information on the minimum deposit amounts associated with each account type, allowing traders to choose the account that best suits their trading goals and financial capabilities.

Account Types

Spreads & Commissions

Main Group FX offers a variety of account types with competitive spreads to cater to different trading preferences. The Basic Account features spreads starting from 1 pips, providing a suitable option for traders who prefer a wider spread. The Standard Account offers tighter spreads starting from 0.8 pips, making it an attractive choice for traders seeking lower trading costs. The Advanced Account offers even tighter spreads starting from 0.5 pips, catering to more experienced traders who value competitive pricing. The Premium Account takes it a step further with spreads starting from 0.3 pips, providing traders with even tighter pricing for enhanced profitability. For traders looking for the tightest spreads, the Pro Account offers spreads starting from 0.0 pips, ensuring minimal cost on trades. Additionally, the Pro Account does not incur any commissions, making it an appealing choice for high-volume traders.

For specific information regarding commissions for the other account types, it is recommended to consult the broker directly, as commission structures may vary based on trading conditions and account features which is not indicated on brokers webpage.

Broker EUR/USD Spread (pips) Commissions (per lot)
Main Group FX From 0.0 pips Variable (depending on account)
AvaTrade From 0.9 pips No commissions
FXCM From 1.2 pips Variable (depending on account)
Plus500 From 0.8 pips No commissions

Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.

Trading Platforms

Main Group FX offers traders seamless access to the popular Meta Trader4 (MT4) platform across various devices and web browsers. Whether traders prefer to trade on Windows, iOS, or Android devices, they can download and install the MT4 platform to their chosen device and enjoy a feature-rich trading experience. The MT4 platform provides a wide range of tools and features, including advanced charting capabilities, real-time market quotes, multiple order types, and customizable indicators. Additionally, traders can also access the MT4 platform directly through their web browser, eliminating the need for software installation. This flexibility allows traders to stay connected to the markets and manage their trades efficiently from anywhere with an internet connection.

MT4
Broker Trading Platforms
Main Group FX MT4
AvaTrade MT4, AvaTradeGO
FXCM Trading Station, MT4, NinjaTrader
Plus500 Plus500 WebTrader, Plus500 Mobile App

Overall, Main Group FXs trading platform is well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders

Trading Tools

Main Group FX offers Daily Market Analysis and an economic calendar which serve as essential trading tools for its clients.

The Daily Market Analysis provided by Main Group FX offers comprehensive insights, expert commentary, and analysis of the financial markets on a daily basis. This analysis covers various trading instruments, including forex, stocks, commodities, and indices, enabling traders to stay informed about market trends, key economic events, and potential trading opportunities.

Daily Market Analysis

Additionally, the economic calendar provided by Main Group FX displays important economic indicators, news releases, and events that can influence the financial markets. Traders can stay updated with crucial economic data, helping them to anticipate market movements and make well-informed trading decisions.

economic calendar

Deposits & Withdrawals

Main Group FX offers a range of deposit methods to provide traders with flexibility and convenience when funding their accounts. You can make instant deposits using credit or debit cards, allowing for immediate access to your funds. Bank Transfer is also available as a secure and reliable option, enabling you to transfer funds directly from your bank account. In addition, Main Group FX supports various online payment platforms like Neteller and Skrill, which offer fast and secure transactions. It's important to note that the availability of specific deposit channels may vary depending on your country of residence.

Deposits & Withdrawals

Customer Service

Main Group FX provides multiple customer service options to assist its clients. Customers can reach out to Main Group FX through various channels to address their queries and concerns as below:

Phone: +61285271181; +61285271182

Email: support@maingroupfx.com. (Will be responded within 24 hours)

In addition, Main Group FX also offers a Contact Us form on their website. Customers can fill out this form with their queries, providing details about their specific needs or concerns.

Main Group FX also provides live chat support for its clients, ensuring that traders have access to assistance and support at any time of the day.

Beside of above, Main Group FX maintains social media accounts such as Facebook, Twitter, Instagram, Linked-in and WhatsApp.

online messaging
Pros Cons
• Accessibility • Quality and Expertise
• Personalized Support
• Live chat supported

Note: These pros and cons are subjective and may vary depending on the individual's experience with Main Group FX customer service.

Education

Main Group FX offers a wide range of educational resources to support traders in their journey.

Traders can access various educational materials, including e-books, webinars, a comprehensive glossary, forex news, and market insights.

The e-books provide valuable information on topics such as trading strategies, technical analysis, risk management, and market psychology. Webinars are interactive online seminars conducted by expert traders, offering in-depth knowledge on various trading concepts and strategies. The glossary serves as a reference tool, defining key terms and concepts related to forex trading. Forex news keeps traders updated with the latest developments in the currency markets, providing insights into market trends and events. Market insights encompass expert analysis, market commentaries, and research reports, offering valuable information to help traders make informed trading decisions.

e-books
glossary
Webinars
Forex news
Market insights

Conclusion

According to available information, Main Group FX is an ASIC-regulated Australia -based brokerage firm. While the firm offers a range of market instruments such as Forex, Indices, Stocks, Metals and Energies. However, it is still critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from Main Group FX before making any investment decisions.

Frequently Asked Questions (FAQs)

Q 1: Is Main Group FX regulated?
A 1: Yes. It has been verified that this broker currently under ASIC regulation.
Q 2: Does Main Group FX offer the industry leading MT4 & MT5?
A 2: Yes, Main Group FX offers MT4 on Windows, web browser, iOS and Android devices.
Q 3: Is Main Group FX a good broker for beginners?
A3: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

User Reviews

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MikeJo
0-3months
This company is a big big scam. Website is down, while I had 13,000usd in my Account! I was contacted recently from a person who told me that they are in Cyprus, and he helped me get back my money. This was very weird. If other people have similar experience, don't lose faith, and search for regal-resolve
2024-02-29 14:25
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Archie J.
3-6months
Their support team has been nothing but helpful to me, they're always available when I need them. They always have answers to all my questions and they're really professional. However... I do wish they had an option where we could change up our themes from time to time - maybe even have different ones every week so people don't get bored.
2023-12-24 13:28
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0
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Lachlan F.
3-6months
This platform provides great customer service not only it offers good order execution, powerful tools and real-time market data.
2023-12-23 13:45
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0
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Cooper Thompson
3-6months
I get decent profit by far and so I am keeping the services. Withdrawal is smooth and quick. However, they should add more dialects so that non-english speakers can enjoy this site too.
2023-12-15 14:40
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0
0
Finn Jacobs
3-6months
I find Main Group FX's website to be user-friendly and the information is easily accessible at any time, which gives me peace of mind. Too bad they still don’t offer ETFs for trading. Also, an app would definitely take this broker to a whole new level. To sum it up - a reliable broker, worth my time, but still miss that edge to make it worthy of 5 stars.
2023-12-12 00:24
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0
0
Isaac Johnston
3-6months
The educational materials in this broker are decent in terms of giving simple forecasting techniques first before moving on to the advanced ones. I can say this broker is suitable for beginners in order to enter the market without any hassle of learning many indicators.
2023-12-07 13:35
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0
0
SKYLinE-RecVeryCom
6-12months
I trusted them with my funds and regretted it in the long run. It took a long time before I could be able to hold them liable for what they had done. It is a pattern of theirs to lure you in with investment plans, with you thinking you'll be entitled to profits and even access to withdraw your funds out rightly, they deny you all these. In my own case, CHECK COMPANY ON DISPLAY NAME , THEY took it into their hands to help adjudicate and resolve the matter.
2023-08-31 12:09
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0
0
Elvis38652
more than one year
As someone who has traded with Main Group FX, I must say that I appreciate their wide range of trading products and the overall experience of trading with their demo account. However, the high minimum deposit required to open a live account is a bit of a concern. Also, the basic account provided by Main Group FX has a relatively wide spread. I hope that the broker can improve their services and lower the entry requirements for new traders.
2023-03-21 10:28
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