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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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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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