Global Forex Broker Regulatory Inquiry APP


1.52 /10



Scam Brokers

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

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Quantity 14


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License Index 0.00
Business Index 7.10
Risk Management Index 0.00
Software Index 4.00
Regulatory Index 0.00
The WikiFX Score of this broker is reduced because of too many complaints!
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VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core



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Regulatory disclosure





Broker Information


Company Name

My Group Fintech Co Pty Ltd.

Company Abbreviation


Platform registered country and region


Company website

Pyramid scheme complaint


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This platform is a Ponzi Scheme. Please stay away! 6
Previous Detection : 2023-06-10
  • 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

Pyramid scheme complaint

Orders were made at its will

Two large money-lossing orders were made in a row, causing a negative balance. As far as I know, all accounts are involved.

2019-06-04 23:37

Pay attention! MIA is informal! Expose the fraud broker!

Mr. Li was a victim of investing in MIA. Because he couldn't make money from doing business, he began to find another way to make money. Recently, Mr. Li received the information about the MIA introduced to him by the salesperson of the MIA when he was trading stocks online, promoting high-yield and zero-risk. It is a good way to make a fortune. Although Mr. Li doubts but can't stand some of the profit temptation sent to him by the other party, he made a fascinating deposit of 200,000 yuan and followed the so-called analyst to make orders, but the next few days were not the same at all. The profitable list was very high. Less and less profit, but the loss is a large amount, not as good as the salesman promised. Mr. Li felt that something was wrong but subconsciously did not want to believe it, and every time he lost money, MIA analysts would confuse him and talk a lot of professional terms, and induce him to increase the amount of money. Increase the position, get more profits, and get back the previous losses and there are more. In this way, Mr. Li invested a total of more than 330,000 from the deposit to the increase. Almost all his family savings were used up. He lost more than 170,000 and has more than 160,000 in lock-up. At this time, Mr. Li had realized that he had been cheated and wanted to withdraw the money, but the analyst of the Michi platform meant that he would add another 200,000 to the money before he could withdraw the money. The same thing has been said several times, Mr. Li is angry and aggrieved but helpless

2021-03-12 15:18
    MIA · Company summary

    General Information & Regulation

    Mia has a very professional, experienced, and trustworthy team in the field of financial investment. Mia works with reputable brokers through a brand new technology - Mirror Trading System, which allows a beginner to profit with peace of mind 24 hours a day, 5 days a week in the most transparent way. My Group Fitech Co Pty Ltd, registered under number 24375, has an Australian financial services license (license number 493603).

    Market Instruments

    The Mia forex broker claims to provide investors with foreign exchange, precious metals, indices, crude oil, and other financial trading products.

    Accounts Management

    Mia uses a new technology - Mirror Trade System (MIRROR TRADE) to make profits for customers in various areas of the international foreign exchange trading platform.

    Minimum Deposit

    Since Mia official website cannot be opened, we have no idea about the precise fund amout to start trading with broker.

    Mia Spreads

    Spreads related information is not disclosed. As the core part of forex trading, trading conditions not transparent means this broker is an illgeal one.

    Mia Leverage

    Lverage related information is also not mentio.

    User Reviews

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    more than one year
    Let me tell you the cruel truth, buddies: the real trading experience in Live account was different from demo account. On demo accounts there were no slippage. It was instant execution. On Live accounts, there were much slippages. These two trading environments were totally different. I finally gave up opening real trading opening advanced trading accounts here. It was so horrible. Losses were not big…
    2023-03-23 10:09
    more than one year
    Mia is a terrible company! I was defrauded of nearly 10,000 US dollars, can wikifx help me recover the funds? We victims really need help... please!
    2022-12-12 11:20
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