Millennium FX (Mnmfx.com) is a CFDs and Forex brokerage firm house that you must know about. From what we have gathered during our initial investigation, MILLENNIUM FX is a dangerous platform. Complaints had been sent to us by members who lost money immediately they deposited with MillenniumFX. An investigation was underway to help disclose what this brokerage was after. Read this detailed and honest review to find the whole truth.
These scammers have done a good job with their website. With all the glare and moving background, one would easily believe it. After all, its what these scammers are after, first impression. Grabbing your attention is what scammers do with their user-friendly interface. Its no wonder so many people have been conned by Millennium FX. This review will reveal the dirty tricks used by these scammers.
Promises are an essential part in creating a lasting effect on potential Forex investors. Empty promises are what these scammers have used to lure so many into signing up. Who doesn’t want to make some quick cash? This is one of the loopholes scammers use to take advantage of people’s need of money. Promises such as members having to diversify their portfolio with more than 200 assets sounds like one.
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Millennium FX is not registered or regulated anywhere on the face of the planet. What we did was contact the FCA to check whether they had registered MillenniumFX. FCA had never heard of such a broker and this made us question this broker’s intentions. Next stop was CySEC and they too had never registered this broker. This clearly means we are dealing with a shady broker who will do or say anything.
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Based in the UK, you would expect the FCA to know and have regulated every broker. This means that we are most likely dealing with an offshore broker. Offshore brokers are notoriously known to flaunt set rules and regulations. What Millennium FX has done is claim to be registered in the UK to validate their professionalism. All these are dirty tricks this broker has used to con people.
According to the website, there’s no clear statement as to who actually owns this website. Fact that we don’t know who owns this brokerage firm is enough cause for alarm. Members could be depositing money straight to the owner’s personal bank account. Worse still, users could be funding the next terrorist attack without knowing. Best thing to do is never sign up with a brokerage firm that has no owner.
Anonymity is what scammers use to stay clear from authorities. Members who lose money with Millennium FX have no way of contacting the owners. And this is why scammers thrive because they cannot be contacted. Authorities will soon catch up with fraudsters behind MillenniumFX and close their whole operation. Thoughts of signing up should now be over as your money will be lost immediately.
These scammers have rigged the demo account in your favor. One might think that there’s nothing wrong with that. A rigged demo account works easily, nearly all of your trades will be successful. 90% of demo account trades are successful and this will surely arouse users into signing up. And you will have fallen into their trap.
Traps such as these are hard to see with the naked eye. And that’s why investors need to read reviews such as this one to find out the truth. A rigged demo account will make users believe they can replicate the same results with a real account. Sadly, this is never the case and members continue to make losses. Investors should never have to lose their money in such crazy fashion and direct fraud.
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Millennium FX has three different trading accounts for users to choose from. These accounts are Micro, Pro, and VIP. For you to have start trading with their basic account, the Micro account, you have to make $1000 deposit. Folks, this is way too much for a minimum deposit requirement. Industry set standards for minimum deposit is $250 and this makes us question their entire platform.
Two other accounts need a minimum deposit of $5000 and $10 000 respectively. Its clear that these scammers are out to get you to sign up. They are targeting the middle- and upper-class levels who don’t have a clue regarding Forex investments. How can this be possible? These scammers are using promotional materials such as email marketing to lure as many people as they possibly can.
MILLENNIUM FX uses MT4 trading platform which is generally accepted the world over. Problem with their platform is that we could not download this platform. Download stalled at 32% and this makes their platform totally unreliable. It simply means that traders cannot trade on the go. Also, it means that we are dealing with an unstable platform which is highly risky. Hackers easily go for unstable platforms.
Hackers can easily gain access to unstable platforms and use them to steal personal information. Worse still, hackers can take over this platform and take away your credit card information. That’s why we are against the use of unstable platforms. Unstable platforms have been the center of controversy as they act as gateways for identity theft. Make sure you never sign up with a platform that does not have a stable platform.
Without a shadow of doubt, Millennium FX is a scam in the making. From the sleazy empty promises to the unstable platform, stay away from it. Empty promises are what most newbie Forex investors fall for. Making money has not always been easy but it can be when the right channels are used. Just use the right channels to make legit money.
Only thing left for us to is blacklist Millennium FX as a shady scam that we should all avoid. Evidence clearly point out that we are dealing with a hoax. Block all incoming promotional materials from Millennium FX. Mark all their emails as Spam and never click on any links sent. Now you know the whole truth regarding Millennium FX.
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