MPLUSFX (Mplusfx.com) is a CFDs and Forex broker scam that we must expose. M PLUSFX has been hitting the buzz arena for all the wrong reasons. MPLUS FX is taunted by many pundits as a lame Forex broker scam. Reason why we are exposing this scam broker is due to the numerous complaints we received from users. Read this detailed and honest review to find out more regarding this MPLUSFX.
As we always caution in our previous reviews, it’s safe to first read what experts say regarding a broker. This will go a long way in helping to keep Forex investors safe from scams such as MPlusFX. What these scammers have done is use the same tricks used by other scammers to trap investors. MPLUS FX is simply out to get as many people to sign up with them as possible. Read more on why this is a loose Forex broker out to steal investors deposits.
Claims and promises are what scammers throw at potential investors to help them get signed up. This broker is no different as they claim to be a premier brokerage firm that provides online trading solutions. During our review, we found a lot of red flags that we thought you should know about. This is why reading genuine and honest reviews will safeguard you from signing up with a rogue broker.
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Disclaimer at the bottom of the page says nothing concerning who actually owns this website. Only detail that resembles what might seem to be the owner’s name is the first banner. It reads M PLUS CO, LTD which cannot be confirmed whether they own this brokerage firm. Folks, this is the first red flag we spotted with this broker. How can they fail to disclose the people behind this platform?
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Anonymity is a dangerous character to have as a broker. It goes without saying, never sign up with a broker who is anonymous. This means that we don’t know for sure which kind of a broker MPLUSFX really is. Could M PLUS FX be an offshore broker who doesn’t want to be recognized or named? Offshore brokers are notoriously known for their anonymity which is leaves a bad taste.
MPLUSFX is NOT Licensed or Regulated by any regulatory body that we know of. What this means is that this broker is not authorized to conduct Forex business. Third parties who partner with M PLUS FX are trading at their own risk. And this is a dangerous place to be especially if you are a newbie trader. Unauthorized Forex brokers may close shop at any time and without warning.
Why haven’t they posted their licensing or regulatory documents in any of their homepage? What this means is that we are dealing with a broker who has no authority of conduct. Folks, signing up with this broker is a ticket straight to hell. Get the most out of Forex trading by signing up with regulated brokers. Problem with unregulated brokers is that they don’t follow rules which protect members or investors.
What we noticed with this platform is that they have the deposit part well covered. This means that investors can easily deposit money with various platforms. MPLUSFX offers users depository platforms such as Wire Transfer, Internal Transfer, Cash Payment in Thailand, Perfect Money, and more. Folks, this is not a reason to sign up with this scam broker, there’s more than meets the eye.
Problem with MPLUSFX is when it comes to withdrawing. This broker does not allow members to withdraw their funds. What they do is give excuses as to why members cannot withdraw their funds. This include excuses such as investors not reaching the required trading volume to warrant withdrawal. What broker in their right mind would refuse withdrawal of funds by members? Only a broker whose intent is to swindle users.
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According to their platform page, this broker is using MT4 trading platform. What they claim is that their platform gives users freedom to implement trading strategies. They have a web-based platform as well as a downloadable platform.
Problems started when download stalled at 56% which meant one thing. Their platform is unstable which is bad news for any investors. An unstable platform means that your trading experience is at jeopardy. Hackers can easily take over an unstable platform and take steal personal data. This wouldn’t be the first time an unstable platform has been the root cause of data breach. That’s why we caution the use of MPLUSFX.
With all the information we have revealed, you now know that funds are not safe with MPLSUFX. This broker does not have any credible safe measures to make sure funds are safe. Their website itself is not secure and has no SSL encryption protection. What this means is that their main website is unsecured, this means your funds too. Another disturbing thing is that they offer no information regarding their banking partners.
What we believe is that this broker maybe pooling funds in one account which is a dangerous play. Another red flag with this broker is that users maybe depositing money straight to the owner’s personal bank account. There’s no segregation of accounts and surely, no compensation scheme in play. Once they decide to close shop, users will not be offered any compensation by this broker.
On their homepage, they claim that users get instant withdrawals. Yet, on their deposit and withdrawal page, there’s no such claim. Their pricing is not the best, just because they ask for $10 to deposit doesn’t mean it’s the best. In fact, what this means is that we are dealing with a shady Forex scam.
Account types page only has one account on offer. Standard account is what users are asked to sign up with. This account comes with a leverage of 1:100 and spreads from 1.5 pips. Minimum required deposit is $10 which is way too low considering the accepted industry price of $250. What this means is that this broker is simply targeting unsuspecting newbie investors. Make sure you never fall into their trap.
Folks, with all the evidence produced, we are sure that this is a scam in the making. Make sure you warn your friends from joining M PLUS FX and stay clear from this broker. Mark all their emails as Spam and never click on any links sent by their email marketing team. It has come to our attention that these links contain harmful malware.
Evidence that we have gathered leads us with only one option, to blacklist MPLUSFX. This broker is surely out to harm any Forex investor with their low pricing. A low minimum depository requirement is the trap these brokers have set to entice investors to sign up. This is what a scam looks like.
At all times, go for Forex brokers that are Comfortable and Convenient to partner with. Sign up with Forex brokers that have the Reputation to make realistic profit. This is one way of staying safe with Forex trading. Don’t let this opportunity pass you by, sign up with a Reliable Forex broker today.
Remember to always stay safe with any online investment platform. Wish you all the best in your Future Forex trading.
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