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MS
Australia|5-10 years| https://www.mforex.com/index.html
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M6 Securities PTY LTD
MS
Australia
Pyramid scheme complaint
Expose
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- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
- The AustraliaASIC regulation (license number: 411841) claimed by this broker is suspected to be clone. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
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MS · Company Summary
Is MS a Scam？
- Scam Brokers List
MS has been listed on WikiFX's Scam Brokers list. The platform operates as a Ponzi scheme. Please be aware of the scam domains as follows: https://www.mforex.com
- Regulatory Concerns
MS claims to be regulated by the Australia Securities & Investment Commission and holds an Investment Advisory License. But this license is suspected to be a fake clone.
This means that MS is not validly regulated by any authority to provide financial services. Therefore, investors' funds in this company are unsafe.
- Scam Exposure
On WikiFX, “Exposure” is posted as a word of mouth received from users.
Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.
As of now, there were 2 pieces of Cooper Markets exposure in total. I will introduce all of them.
Exposure 1. Withdrawal Issue
| Classification | Unable to Withdraw |
| Date | 2023-03-27 |
| Post Country | Ecuador |
The user invested in MS that initially paid her returns but ultimately faced issues during a withdrawal process. Eventually, it resulted in a failed attempt to access her funds. You may visit: https://www.wikifx.com/en/comments/detail/202303263322560505.html
Exposure 2. Withdrawal Issue
| Classification | Unable to Withdraw |
| Date | 2018-7-25 |
| Post Country | Hong Kong, China |
The user requested a withdrawal in October 2017 and was told it would be processed by April, but he has yet to receive the funds. You may visit: https://www.wikifx.com/en/comments/detail/208076093025809.html
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