Is MFCapital FX a scam or legit broker? Read MFCapital FX Review
MFCapital FX claims to be an award-winning platform offering a 100% secure and reliable trading system on a next-gen trading platform. But in reality, it is nothing but a scam.
MFCapital FX is located at Lena-Christ-Straße 2, 82031 Grünwald, Germany, and is owned by MFCapitalFX. The website of this broker is https://mfcapitalfx.com/.
Yet, the benchmark EUR/USD spread is reportedly as large as 3 pips, despite MFCapital FX’s claims of having narrow spreads. Whatever the case, since the broker is not regulated, we cannot trust it.
Although MFCapital FX claims to accept payments from major debit and credit cards, bank wire transfers, and other payment methods, we were unable to verify this. As a result, just remember that it is common practice for scam webpages like this to demand payment in crypto coins, as the chances of getting a refund are tough.
Two regulators, the Commissione Nazionale per le Società e la Borsa (Italy) and the Federal Financial Supervisory Authority (Germany), also put the broker on a “black list.” According to BaFin, “In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that the website mfcapitalfx.com is not operated by MF-Capital GmbH. The unknown operator of this website does not have authorization under the KWG to conduct banking business or provide financial services and is not subject to supervision by BaFin.“
Possible scam activities of MFCapital FX
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this MFCapital FX review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative MFCapital FX Reviews and Complaints
MFCapital FX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative MFCapital FX Review
After Searching internet you will find many negative MFCapital FX Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and MFCapital FX reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by MFCapital FX? How to get your lost money back from MFCapital FX?
The best solution recommended for getting your lost money back from MFCapital FX is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
MFCapital FX Review: Conclusion
To begin with, MFCapital FX is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging MFCapital FX as a possible scam in this MFCapital FX Review.Are you planning to trade with MFCapital FX and invest your money? Report Scam suggests you to read this MFCapital FX Review first.
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