MFX Broker was hit by a tempest since about mid-2016 and not finished until the beginning of the second month of 2017, so strong is suspected scam. Many forex traders who had previously been MFX customers declare their withdrawal request rejected or pending for months. Also, when contacted by Seputarforex.com via chat and email, there was no response.
MFX Broker has stood since 2006, with headquarters in Russia, but also has offices and regulation of Belize. These brokers had become one of the favorites with many traders Indonesia IB scattered in various regions. However, in August 2016, one of its leading IB, MFX Broker Jakarta, released a warning on kaskus forum.
In the warning, the page manager mfxbrokerindonesia.com said it has cut off ties with MFX Center, because the process of withdrawal, which is very difficult and even withdrawal of funds worth thousands to tens of thousands of dollars are not paid. The IB's website is now offline, while the Central MFX page is still online, but part of his blog withdraw met by demands that had not yet paid.
Case Chronology MFX Broker
MFX Broker indication of actual cases could be tracked since 2015, though not much is revealed to the surface.
Name MFX Broker be talks on sites Forex Peace Army (FPA) since it offers investment program yielding fixed to 100% per year. Clients deposit enough funds, then wait to receive periodic interest without the need to trade or anything. The system was accused of Ponzi investment, especially as the MFX can not provide an audit report.
16 November 2015.
Regulator Warning Notice IFSC Belize release contains statements that MFX Broker Inc. no longer licensed by their side. Together with that, IFSC also warned all investors cautious. However, this news was spreading anxiety because MFX Broker declare it is only temporary.
In a statement, MFX Broker quibble would still be regulated in Belize, only the company name changed from MFX Broker Inc. into a Master Services Inc. In fact, from then until now, the company name Master Services Inc. does not appear in the list of regulated brokers IFSC Belize. However, the site itself MFX Centre until today (February 2, 2017) still provides the license.
There are no further developments after that, to near mid 2016. Around June-July, a number of client users MFX Capital (the name of the investment program and very high fixed rate of MFX Broker), began having trouble withdraw.
Posted MFX Jakarta Kaskus unsettling clients. However, until that time, some traders Indonesia and IB can still withdraw their funds, although there is a delay longer than usual. As confirmed over alleged scam of some parties, the MFX Center blames IB, funds transfer method, or Exchanger used by traders
There are three cases of MFX Broker in FPA with the results of voting guilty (guilty) on the adjacent tempo. Two of them are associated with the program MFX Capital. Since then, the number of claims failed to withdraw more bloated, includes forex traders with standard accounts.
According to an interview with one customer Seputarforex MFX Broker named Andy, request the withdrawal of funds since 2 November 2016 did not also approve (see screenshot). In fact, he was already trading with MFX Broker on standard accounts since 2013. Registration through MFX Surabaya; without following any additional facilities, be it promotions, contests, and MFX Capital. Not alone, request the withdrawal of funds by the four colleagues who direferensikannya also experienced similar things.
Cases MFX Broker
With the status of MFX Broker is no longer unregulated, there is no one party that can be a place to complain to the trader as Andy. Given MFX Broker license has been revoked, it is true nobody can cover grants if they defaulters.
Lessons From Case MFX Broker
1. Monitor Forex Broker Regulation.
Lesson number one for traders, IB, and Seputarforex.com itself, is to always monitor the status of broker regulation. It is better to visit in the Warning section broker regulator's website on a regular basis to ensure that no case or warning about it.
Need to be alert and think twice when dealing with unregulated forex broker. If you really want to bet on this kind of broker, so keep the deposit under 1000USD. Pull profit regularly, do not let it pile up in your account. Thus, though later the broker went bankrupt, losses could be limited.
Will be even better when choosing a broker that is clearly regulated by bona fide regulatory agencies. For example CFTC / NFA United States, Australia or FCA ASIC England.
2. Avoid flowering Fixed Investment Bids And High.
As a trader, of course we know the saying "High Risk,