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MSG fake profits, tricked me into funding more but all is fake
Vladimir E.
Australia
2024-11-14
ANSWER Dear Investor,We understand the distress and frustration this issue may have caused you. We strongly suggest you discontinue all engagement with MSG and report it to your local authorities. In your country, you are advised to lodge a complaint with the Australian Securities and Investments Commission (ASIC). We also encourage you to file one on our platform https://www.brokersview.com/complaint. Our dedicated team will thoroughly review your case and work diligently to help find a possible solution.For anyone who might see this inquiry, please be advised that MSG, allegedly owned by Master Select Group Limited, is marked by us as a scam. Our investigation indicated that it copies licensing information from a genuine firm to deceive unwitting investors. The purported ID from the National Futures Association (NFA) is for tracking purposes only. It is not a membership with the NFA and is not subject to its oversight. We have noticed that it has added a new registration in St. Vincent and the Grenadines to appear legitimate. However, this is an offshore area that doesn't license or regulate forex trading brokerage activities.Lastly, we would like to note that you should be aware of recovery room scams, where unsolicited messages claim they can help you recover your money for a fee. Their sole goal is to defraud you of more money.
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MSG's seems familiar to me. Is it a scam?
whxcmdla
Samoa
2024-02-17
ANSWER MSG appears to be a fraudulent entity.Its assertions of being regulated by the Vanuatu Financial Services Commission (VFSC) are unfounded. The registration number it provides is actually associated with a different entity, which has no connection with MSG. Therefore, MSG is not licensed by the VFSC and is misappropriating regulatory information of a legitimate entity to mislead unsuspecting investors.Regarding its claimed registration with the National Futures Association (NFA), our investigation indicates that its NFA ID is merely for tracking and does not imply regulatory oversight.As a result, MSG is a deceptive operation, posing significant risks of fraud and identity theft. To protect your interests, it's recommended to avoid MSG and similar unlicensed platforms. Instead, consider fully regulated trading platforms to mitigate such risks.
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