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MagKing Forex

China|Scam Brokers|
5-10 years|Suspicious Regulatory License|MT4/5 full license|Regional Brokers|High potential risk|

https://www.mk-forex.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
MagkingLimited-Demo MT4
Server Location Japan

Contact

service@usgmk.com
https://www.mk-forex.com

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

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Broker Information

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Company Name

mk forex

Company Abbreviation

MagKing Forex

Platform registered country and region

China

Company website

Pyramid scheme complaint

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This platform is a Ponzi Scheme. Please stay away! 3
Previous Detection : 2024-03-29
  • 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
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User Reviews

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Comments

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FX1454603970
more than one year
MagKing Forex is a total scam! I only found out the hard way when my account was manipulated and I couldn't withdraw my funds. Don't even bother signing up with them, save your time and money! I highly recommend that you stay away from this illegal broker, and keep your eyes open for other scammers out there. Spread the word to your fellow traders to avoid this untrustworthy company.
2023-03-29 09:15
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