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MBFX

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Operating status: SCAM

Website: https://www.mbfx.co/

Broker violations and abnormal records
  • 2022-08-17 BrokersView has Reviewed that MBFX is an Unregulated Forex Broker

    MBFX is not a reliable broker for traders even though it states offers that look good to be true. MBFX claims to be a regulated award-winning broker and presents its award earned from 2016 to 2021. But when we checked its domain, we found it was newly created on 24 May 2022. So how could it earn those awards from 2016 to 2021? It is a red flag here.

    Besides, MBFX claims to follow the laws and regulations of several regulatory bodies, including:

    1) The UK Financial Conduct Authority (FCA);

    2) The Cyprus Securities and Exchange Commission (CySEC);

    3) The Vanuatu Financial Services Commission (VFSC).

    However, we did not find any match results to MBFX in the above three watchdog registries. The regulatory info is a false statement for unsuspecting investors. The truth is that MBFX is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    MBFX is not a reliable broker for traders even though it states offers that look good to be true. MBFX claims to be a regulated award-winning broker and presents its award earned from 2016 to 2021. But when we checked its domain, we found it was newly created on 24 May 2022. So how could it earn those awards from 2016 to 2021? It is a red flag here.Besides, MBFX claims to follow the laws and regulations of several regulatory bodies, including:1) The UK Financial Conduct Authority (FCA);2) The Cyprus Securities and Exchange Commission (CySEC);3) The Vanuatu Financial Services Commission (VFSC).However, we did not find any match results to MBFX in the above three watchdog registries. The regulatory info is a false statement for unsuspecting investors. The truth is that MBFX is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

Is MBFX a scam?

Graham Hall
United Arab Emirates
2024-12-10
ANSWER Dear Investor, Thank you for your trust in our platform. We have marked MBFX as a scam as early as 2022. MBFX currently claims to be registered in St. Lucia and to have a physical office in the UAE. It solely relies on its offshore registration to appear legitimate and compliant. However, St. Lucia doesn’t license forex trading activities and provides lax regulation and minimal protection for investors as an offshore area. Without any other valid licensing information, MBFX remains unlicensed and unsupervised, rendering its offerings illegal. We have already received complaints from clients of MBFX about their fraudulent practices. Therefore, we strongly suggest you avoid using MBFX. It is critical to do thorough research on your target broker instead of accepting what they claim at face value.
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3 comments

Talha Muhammad
Mbfx is a scam companyMy account number was 876876I had started copy trading with Ahsan farooq barlas on this broker with $10,000 usd with trust on Ahsan farooq barlas. My account went in losses and when finally it started going into profits, my withdrawals were blocked. It has been 2 weeks and i have tried to withdraw almost 8000$ but nothing has come. Ahsan farooq barlas asks me to wait but in reality it is just a scam. Ayesha baig is the account manager with a uk number, fasiha is support person and ahsan farooq barlas is the main guy running the ponzi scheme.I thought that since his grip is so strong in the market, he might not need to scam people and that he can earn much more money then scamming others but i guess i was wrong. Such knowledgeable people are also thieves. Ahsan farooq will give you surety that if anything happens to your funds, he will be responsible for paying but he will stop replying to you after your withdrawal is blocked.Actually the address for trc20 listed on the broker and ahsan farooq barlas personal usdt account is also matching. I have proof of this. I have all chat of ahsan farooq barlas and this scam broker mbfx.This company is owned by ahsan. He is a cheater, a fraud and a very smart thief. I took bank loan of $10,000 so i can make ends meet for my rent and other expenses, but this leech of a scammer took all my money.Please trust this, i did not do any kind of fradulent transaction on mbfx. My only mistake was that my Take profit hit of 1000 and 1500 usd.Finally my $10000 account came to $11,000 and when i started withdrawing, the amounts never came. They claim investigation is happening and i am sure finally they will say that i cheated.I did not cheat, i am a normal trader like everybody else.At all cost, avoid this scammer especially Ahsan farooq barlas. Whatever he says is fake. He just wants the money.Yes he has knowledge and yes he is uploading videos daily but at the end of the day, he is running mbfx. Please do not give this man a single dollar.When you send him screenshot of this reviews he will say that arbitrage trading and fraud trading was done by the people giving him 1 star.All the 5 star reviews are paid and fake.
2024-12-08
Reply
Brokersview Official
Dear, about your problems encountered in this broker, you can submit a complaint with your proofs, Please click the link to submit：https://www.brokersview.com/complaint service@brokersview.com
2024-12-09
Reply
Talha Muhammad
Please can you delete this review? At this moment, the case is still going on and i think i should wait. I was in a panic situation but the case is very slow moving but still going on.
2024-12-11
Reply
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