MFIbroker Review: Crummy Forex Broker Scam Denounced

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MFIbroker Review: Crummy Forex Broker Scam Denounced

MFIbroker ( is a distrustful Forex broker scam to hit the lucrative Forex trading world. MFI Broker claims to offer users a reliable business environment that is unmatched. What MFIbroker has done is to promise users unrealistic services that they simply can’t deliver. Complaints have been sent to us by members who lost money with this brokerage firm. Read this detailed and Honest MFI Broker review and know the truth.

MFIbroker review

MFIbroker Review:

As we always say in almost all our reviews, it pays to read reviews regarding brokers before signing up. MFI Broker is no different as the web is buzzing with negative complaints about this broker. Suzie Ferguson is a victim of this notorious Forex scam. She claims to have lost over $15000 with this broker. Read this entire review so that you don’t become their next unsuspecting victim.

Scammers know for a fact that everyone wants to make a quick buck or two. They take advantage of this need by claiming to have the answer. All you need to do is sign up with their trading platform and leave the rest to them. Have you ever noticed how charming they are before you sign up? After signing up, these charming brokers turn into devils who will never respond to your emails.

Always go for Authentic and Convenient Forex Brokers who are Tested and Vetted by the trading community. These Forex Brokers are Valued and come highly Recommended by the Forex trading community. Sign up with Forex Brokers who have your best interest at heart. This is a Proven way of making money with Forex Trading.

Who Owns MFIbroker?

In their own words, they claim they are situated in Griffith Corporate Centre. This is found in Beachmont, Kingstown, St. Vincent and the Grenadines. In other words, MFIBROKER is an offshore broker. Do you know what this means?

Offshore brokers are notoriously known to flaunt industry’s rules and regulations. They never apply even the most basic of rules. In this review, we will reveal all the dirty tricks used by MFIbroker to sign up people. Also, we will reveal all the rules and regulations this brokerage firm tends to ignore. Problem with ownership is that we don’t really know the people behind this company.

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Is MFIbroker Licensed or Registered?

MFIbroker Scam Alert

What we know for sure is that this brokerage firm is not licensed or registered by any regulatory body. How can they be willing to register when they know they don’t follow any set rules? Some of the regulatory bodies we contacted have never heard of MFI Broker. These regulatory bodies include the FCA, FSA, and CySEC.

A broker who is not authorized to trade on third party behalf means that they are NOT LICENSED. Any investors who signs up with this broker will most likely lose all their savings. Why do we say this? Simple, they are mere scammers who want to sign up as many people to this brokerage firm. Once they get a certain number of people to sign up, they will close down their whole operation.

Fake Claims.

Another disturbing detail we found with MFI broker is the number of fake claims they have. These claims are not realistic and no member has actually seen these claims working. Some of the claims they have include margin trading, instant execution, and pending orders. How can these claims be true when all members get are loses? Folks, these claims are merely intended to make you believe that this is a genuine broker.

Claims of serving their customers with dedication is not true. Suzie tried a thousand times to contact these brokers but to no avail. Claims of having best-in-class customer service is a lie. This brokerage firm does not even have a live Chat support team. Claims of having to respond in an hour is not true. This can easily be tested by sending a sales message to them, you will never get any response.

Fake Bonus Claims.

According to the homepage, this broker offers a bonus to members. Some of the bonuses mentioned include 100% credit bonus or a 15% recovery bonus. This raises the question, why issue bonuses when you will later charge people for? Folks, this is an unwanted practice.

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Are Funds Safe with MFIbroker?

MFIbroker Fake Review

Funds are never safe with any offshore broker. There are numerous reasons as to why funds will never be safe with offshore brokers. To start with, MFIbroker does not follow any rules and guidelines. This means that MFI broker does not participate in segregation of accounts. What this means is that members don’t know where they are depositing money to. It means that members could be depositing money into the owner’s personal bank account.

Another disturbing detail with this broker is that they don’t insure member funds. Also, MFI Broker does not participate in any compensatory scheme. A genuine broker in most cases always compensates members in case of loses. A crappy way of losing money is using Fake platforms such as this one. Always stay safe when trading Forex with genuine products.

Fake Platform.

According to their homepage, MFIbroker uses MT4 trading platform. Problem we have with this platform is that it isn’t compatible on our devices. A good platform should be able to sync with Desktop, mobile, and tablet devices. Sadly, this is not the case with MFI Broker. Download stalled at 21% and this a huge problem.

A platform that stalls when downloading means that we are dealing with an unstable platform. An unstable platform is a risky venture since its prone to cyber-attacks. Hackers find unstable platforms as easy prey for identity theft information. Worse still, hackers can take advantage of this vulnerability to steal credit card information. This has happened with a few unstable Forex platforms and that’s why we must raise a red flag.

Account Types.

MFIbroker has four different account types. These accounts include Micro, Standard, Premium, and VIP accounts. Minimum deposit starts from $250 to $100,000. There’s no clear advantage of any account over the other. Only difference we noticed was fund management was not available for the first two accounts.

Is MFIbroker a Scam?

With no doubt in our mind, MFIbroker IS A SCAM. Evidence produced clearly show that we are dealing with a scam broker. Make sure you ignore all emails sent by their email marketing team. Mark all their emails as Spam and never click on any links sent by these fraudsters. This will make you immune to their scam list.

MFIbroker Final Verdict.

MFIbroker Scam Review

As ardent Forex investors, we have only one option, to blacklist MFI Broker as a Forex scam. This broker is tarnishing the good Forex name and should be investigated. Relevant authorities should look into this broker and shut down their whole operation.

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