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

MFG

United Kingdom|2-5 years|
White label MT5|Regional Brokers|High potential risk|

https://www.milliniumfg.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
MilliniumFortune-Demo MT5
Server Location United States

Contact

+448888888
support@milliniumfg.com
https://www.milliniumfg.com/en/
Apartment 1804 55 Upper Ground, London, England, SE1 9EY
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

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

Single Core

1G

40G

Open Now

Contact number

English

+448888888

Broker Information

More

Company Name

MILLINIUM FORTUNE GROUP LIMITED

Company Abbreviation

MFG

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 2
Previous Detection : 2024-06-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 13 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

MFG · WikiFX Survey

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Expose

    MFG · Company Summary

    Aspect Information
    Registered Country/Area United Kingdom
    Founded Year 2-5 years
    Company Name Millinium Fortune Group Limited
    Regulation No Regulation
    Minimum Deposit Not specified
    Maximum Leverage Standard account: 1:1000<br>ECN and VIP accounts: 1:500
    Spreads Not specified
    Trading Platforms Meta Trader 5 (White Label)
    Tradable Assets Not specified
    Account Types Standard, ECN, VIP
    Demo Account Not specified
    Customer Support Telephone: +448888888<br>Email: support@milliniumfg.com

    Overview of MFG

    MFG, or Millinium Fortune Group Limited, is a broker operating in the financial industry. However, there are several concerning aspects regarding this entity. Firstly, MFG lacks any valid regulatory information, which should be a cause for alarm for potential investors. The absence of regulation raises doubts about the broker's legitimacy and credibility.

    Furthermore, according to WikiFX, a platform that tracks complaints and reviews about brokers, MFG has received a significant number of 13 complaints within the past 3 months alone. This high volume of complaints suggests potential risks associated with MFG, including questionable practices or even the possibility of a scam.

    In terms of account types, MFG offers three options: Standard, ECN, and VIP. However, specific details regarding the minimum initial deposit required for each account are not readily available. Traders interested in opening an account with MFG are advised to directly contact the broker or consult official documentation for accurate information.

    MFG provides different leverage ratios depending on the account type, with ratios as high as 1:1000 for Standard accounts and 1:500 for ECN and VIP accounts. While high leverage can potentially lead to increased gains, it also carries significant risks and can result in substantial losses. Traders should exercise caution and carefully consider the implications of utilizing high leverage.

    MFG offers Meta Trader 5 as its trading platform, which is a widely used platform in the industry. However, it is important to note that MFG offers this platform as a white label, meaning it may not provide any unique features or advantages compared to other brokers offering Meta Trader 5.

    Customer support services are available through telephone and email channels, allowing clients to seek assistance regarding their trading activities or other relevant matters. Additionally, a physical address is provided, enabling clients to engage with the broker through traditional mail or in-person visits.

    Reviews of MFG on WikiFX highlight several concerning issues reported by users. These include difficulties in withdrawing funds, accounts being deleted or blocked upon withdrawal requests, suspicious activities such as market fluctuations and trade manipulation, and additional fees or taxes imposed on withdrawals. These reviews collectively raise significant concerns about the reliability and integrity of MFG as a trading platform.

    basic-info

    Pros and Cons

    MFG offers various live trading account types and high leverage ratios, providing options for different trading preferences. They also provide customer support services and have a physical address for contact. However, it is important to note that MFG lacks valid regulation and has received numerous complaints on WikiFX. Additionally, the official website is unavailable, and there is a lack of information on market instruments, spreads, and payment methods. Users have reported difficulties in closing positions, and reviews indicate a high level of dissatisfaction and concerns about the reliability and integrity of MFG as a trading platform. These pros and cons should be carefully considered by individuals before engaging with MFG or making any investment decisions.

    Pros Cons
    Provides different live trading account types Lack of valid regulation
    Offers high leverage ratios Numerous complaints reported on WikiFX
    Offers Meta Trader 5 platform Official website unavailable
    Provides customer support services Lack of information on market instruments
    Has a physical address for contact Lack of information on spreads and payment methods
    Users' inability to close positions
    Reviews indicating high dissatisfaction and concerns about the reliability and integrity

    Is MFG Legit?

    MFG, the broker in question, is a concerning entity when it comes to regulation. It is important to note that this broker has not been verified to have any valid regulation in place. This lack of regulation raises significant red flags and should serve as a warning sign for potential investors.

    Additionally, it is worth mentioning that WikiFX, a platform that tracks complaints and reviews of various brokers, has received a staggering number of 13 complaints about MFG within the past 3 months alone. Such a high volume of complaints within a short period is a cause for serious concern. These complaints indicate a potential risk and suggest the presence of questionable practices or even a possible scam.

    regulation

    Account Types

    MFG provides its clients with three live trading account types: Standard, ECN, and VIP. These account options cater to different trading preferences and requirements. Unfortunately, specific details regarding the minimum initial deposit required to open an account are not readily available online. It is advisable for individuals interested in opening an account with MFG to directly contact the broker or consult their official documentation to obtain accurate information regarding deposit requirements.

    Pros Cons
    Provides three live trading account types (Standard, ECN, and VIP) Lack of specific details regarding minimum initial deposit requirements
    Offers options that cater to different trading preferences and requirements Inadequate availability of information online, requiring direct contact with the broker or consultation of documentation

    Leverage

    MFG offers different maximum leverage ratios to clients depending on the type of account they hold. For traders using the Standard account, the maximum leverage ratio available is 1:1000. On the other hand, both ECN and VIP account holders have access to leverage ratios as high as 1:500. It is important to note that while high leverage can potentially amplify gains, it also comes with inherent risks and can lead to substantial losses. Traders should exercise caution and carefully consider the implications of utilizing high leverage before making any trading decisions.

    Trading Platforms

    MFG offers Meta Trader 5 as one of its trading platforms. Meta Trader 5 is a well-known and widely used platform in the financial industry. It provides a range of features and tools for trading various financial instruments. However, it is important to note that MFG offers this platform as a white label, which means it may not provide any unique or specialized features that set it apart from other brokers offering Meta Trader 5. Therefore, it is essential for potential users to thoroughly assess the platform's functionalities and compare them with other brokers to make an informed decision.

    trading-platform
    Pros Cons
    Offers Meta Trader 5, a widely used platform Provides Meta Trader 5 as a white label, lacking unique or specialized features
    Well-known platform in the financial industry Potential lack of differentiation from other brokers offering Meta Trader 5
    Provides a range of features and tools Requires thorough assessment and comparison with other brokers to make an informed decision

    Customer Support

    MFG offers customer support services to assist their clients with inquiries and concerns. They can be contacted through various channels, including telephone and email. The telephone number provided for customer support is +448888888, allowing clients to reach out and seek assistance regarding their trading activities or any other relevant matters. In addition to telephone support, MFG also offers an email option, with the address support@milliniumfg.com. This allows clients to communicate with the customer support team in a written format, providing a way to convey detailed information or submit specific queries.

    Furthermore, MFG provides a company address, specifically Apartment 1804, 55 Upper Ground, London, England, SE1 9EY. This address serves as a point of contact for clients who prefer to engage with the company through traditional mail or visit their physical location, if required. Having a physical address can provide reassurance to clients who wish to establish direct communication with the broker.

    Reviews

    The reviews of MFG on WikiFX reveal several concerning issues reported by users. One common complaint is the inability to withdraw funds from the platform. Users have expressed frustration and disappointment over their unsuccessful attempts to withdraw their deposited funds, leading to suspicions of a scam or fraudulent practices. There are instances where accounts were deleted or blocked after clients requested withdrawals, leaving them without access to their funds. Additionally, some users have reported suspicious activities such as sudden market fluctuations and the inability to close positions, suggesting potential manipulation of trades. There have also been complaints about additional fees or taxes imposed on withdrawals, causing further complications for users seeking to access their funds. These reviews collectively indicate a high level of dissatisfaction and raise significant concerns about the reliability and integrity of MFG as a trading platform.

    reviews

    Conclusion

    In conclusion, MFG, the broker in question, raises concerns due to the lack of regulation and numerous complaints reported on WikiFX. The absence of valid regulation is a significant red flag and should be considered a warning for potential investors. Moreover, the substantial number of complaints within a short period suggests the presence of questionable practices or even a possible scam. Although MFG offers different account types and leverage options, potential clients should approach these offerings with caution and thoroughly assess the associated risks. The availability of customer support through telephone and email, as well as a physical address, may provide some reassurance, but the negative reviews on WikiFX regarding fund withdrawals, suspicious activities, and additional fees cast doubt on the reliability and integrity of MFG as a trading platform.

    FAQs

    Q: Is MFG a regulated broker?

    A: No, MFG does not have any valid regulatory information, posing a significant risk.

    Q: How many complaints have been filed against MFG?

    A: Within the past 3 months, there have been 13 complaints reported about MFG.

    Q: What are the account types offered by MFG?

    A: MFG provides Standard, ECN, and VIP trading accounts.

    Q: What leverage ratios does MFG offer?

    A: MFG offers a maximum leverage ratio of 1:1000 for Standard account holders and 1:500 for ECN and VIP account holders.

    Q: What trading platform does MFG use?

    A: MFG offers Meta Trader 5 as its trading platform, but it is a white label without unique features.

    Q: How can I contact MFG's customer support?

    A: You can contact MFG's customer support team through telephone at +448888888 or via email at support@milliniumfg.com.

    Q: Are there any concerning issues reported by users about MFG?

    A: Yes, users have reported difficulties in withdrawing funds, suspicious activities, and additional fees or taxes imposed on withdrawals.

    Q: Is MFG a reliable and trustworthy trading platform?

    A: The numerous complaints and concerning reviews raise doubts about the reliability and integrity of MFG as a trading platform.

    User Reviews

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    Comments

    Write a review

    Ntr-treasure
    more than one year
    I tried trading with $100. I made a profit of $18, and requested to withdraw it. It's been two weeks now, and I still can't withdraw. They claim there's a data error and issues with the cryptocurrency wallet address. You can't trust this company!
    2024-02-28 12:29
    Reply
    0
    0
    王苏彬
    more than one year
    MFG is totally a scammer. After cheating many people out of their money, it just shut down its website and pretend to have never existed. I sincerely wish they can be brought to justice!
    2023-02-15 17:34
    Reply
    0
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    United States
    ※ 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
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