Client Complaint: Master Select Group Fakes Trades with Demo Account, Creates Deficit Illusion

Australian investor Tony accused unlicensed broker Master Select Group (MSG), claiming the platform deceives investors by using demo accounts.

The victim said that his money was not involved in real trading and that MSG faked the “trades” he saw. He checked the history of prices offered by the other firms and realized that MSG was falsifying market data.

Tony said the broker intentionally hit stop-loss to clear his balance.

When the losses first appeared, MSG apologized and promised more experienced traders would be arranged to help him achieve profitability. However, the real intention of the “senior analysts” was to convince clients to invest more money on the platform.

These “senior analysts” promised the risk of loss was only 5% to 10% while using the same trick to make the client “lose money”, and lured him to continue to invest. The victim's money disappeared in a moment.

_{The staff of MSG promised profit}

Tony checked the back end and believed his account was a demo account. In other words, MSG fabricated a virtual trading market to create the illusion of investment failure and then used the excuse to pressure investors to deposit more money to cover losses.

_{The victim believed his account was not real but a demo account}

When the victims realized the scam and refused to pay more for it, MSG ignored the messages and requests he sent and escaped with his $47,000.

Regulatory Challenges

Master Select, operated by Master Select Group Vanuatu Limited, claims to have offices in HongKong. However, a search of the Hong Kong Securities and Futures Commission (SFC) website shows no record of the company - “Sorry, there is no name matched with ‘Master Select’ in the Register.”

_{MSG claimed to be located in HongKong but was not authorized by the local watchdog}

Meanwhile, MSG may misuse the financial licenses of legitimate companies. The Vanuatu Financial Services Commission (VFSC) license 700238 displayed on its website belongs to another financial services broker, Doo Prime.

_{MSG claims to be registered in Vanuatu}

In addition, MSG displayed registration number 0558525, which was purportedly issued by National Futures Commission (NFA) number 0558525 but not found on the NFA's website.

_{MSG is not an NFA member}

MSG's lies about its regulatory status have been exposed one by one, but it still claims to be “one of the world's leading cfd brokers”, causing pain and suffering to uninformed investors.

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