MplusFX claims to be a regulated firm while presenting neither details about its regulations nor legal documents (terms & conditions, risk disclosure, and privacy policy, etc.). Lacking the above information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. It is a red flag here.

Besides, MplusFX shows its address in Thailand. As per the information we hold, Thailand has no authorities that issue licenses for forex trading or regulate entities that offer forex services. That means MplusFX 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.