MCCM

Nguyen Kim Thu

Vietnam

Michael Chen, a China national, the CEO of MCC Markets, is a notorious scammer in the forex industry. He deceitfully presented himself as the Co-Founder of MCC Markets in the past, using this guise to orchestrate his fraudulent activities. Operating as a broker, Michael Chen established MCC with the sole intention of unlawfully seizing clients' assets. He cunningly cultivated the image of a successful CEO in the FX industry and developed relationships with IBs (Introducing Brokers) in Southeast Asia. His scamming method involved convincing IBs to promote MCC as a reputable and affordable broker for investors. Once IBs began bringing in clients, Michael engaged in a nefarious scheme of obstructing fund withdrawals for clients with baseless excuses. He then coerced the IBs to keep recruiting new customers to handle the backlog of unresolved withdrawal requests. However, even as new clients were brought in, Michael continued to delay payments to the older clients. On 12 July 2023, Michael made an official announcement that he was resigning from his position at MCC, despite still holding shares in the company. When confronted by the IBs about the pending withdrawal orders, he audaciously claimed that MCC had gone bankrupt, leaving the customers without access to their funds. The amount of money he fraudulently appropriated in Southeast Asian countries is estimated to be around USD$500k till date and this sum may be significantly higher due to many unreported victims among the IBs. In light of these appalling actions, it is evident that Michael Chen is a dangerous scammer, causing financial harm to innocent investors and IBs in the forex industry. Please beware of him as he may join another broker or open another brokerage under a different name to start scamming people again.

Nguyen Kim Thu

Vietnam

Michael Chen, Chinese nationality, CEO of MCC Markets, is a scammer in the forex industry. Previously, he falsely claimed that he was Co-Founder of MCC Markets, using this guise to carry out his fraudulent activities. Operating as a broker, Michael Chen established MCC with the sole purpose of illegally appropriating clients' assets. He deftly portrayed the image of a successful CEO in the Forex industry and established relationships with IBs (Introducing Brokers) in Southeast Asia. His scam method involved convincing IBs to promote MCC as a reputable and affordable broker for investors. When IBs began to lure customers, Michael was involved in a nefarious plan to prevent clients from withdrawing money using baseless excuses. He then forces IBs to continue to find new customers to handle the unresolved backlog of withdrawal requests. However, even with the addition of new customers, Michael continued to delay the payment of old customers. On July 12, 2023, Michael announced that he would leave MCC, despite still holding shares of the company. When telling IBs about pending withdrawals, he claimed that MCC had gone bankrupt, preventing clients from accessing their accounts. The amount he defrauded in Southeast Asian countries is estimated at around $500,000 to date and this amount could be significantly higher due to many unreported victims among these major IBs. Obviously, Michael Chen's behaviors are shocking. But IBs are innocent in forex industry. Be careful with him because he can join another broker or open another broker under a different name to start scamming people again.

TradeMax11

United States

MetaTrader 5 is solid—no complaints there. But the whole unregulated thing does make me a bit uneasy. I'm keeping my trades small and not putting in more than I can afford to lose, just to be safe! Customer service is alright; they get back to me but could definitely be quicker.

Neutral

2024-06-21

Fortenor

United States

MCCM's got a bunch of account types that fit different traders' needs, and their customer support team is really on it, quick to help out whenever I've got a question.

Positive

2024-07-18