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Why is MSG Forex a scam?

Started by Admin, May 30, 2023, 12:16 PM

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Topic keywords [SEO] ForexscamMSG

Admin

This article contains the following information:
    .
    • What is known about MSG Forex;
    • Irrefutable arguments that MSG Forex is a scam;
    • Further indications that MSG Forex is a scam.

    Entrusting your investment to MSG Forex is a decision you will probably regret, as I do now. I'm left with the bitter reality that this is the worst thing that could have happened to me as an investor, and I'm sure that personal experience will serve as a kind of a warning to traders who, are considering the decision to give personal funds to this ugly investment firm."

    Initially it was clear that the degree of skill and competence at MSG Forex was clearly close to zero. Their platform was constantly unreliable, with regular technical problems and a user interface that can only be described as ludicrous and incomprehensible. This alone made the execution of transactions unpleasant, but the difficulties did not end there.

What is known about MSG Forex

In brief, practically nothing. The firm was registered in 2022. It is not known in which city it is located. There is no credible information for a little over half a year of operation of the brokerage company. There is only black information on the firm, but first things first. Our editorial team tried to find information on the net about the location of the company's office, but ultimately found nothing. Any company, that respects investors on the contrary, wants to be as open and transparent as possible, to inform their investors, so that they have an idea of whom they intend to give their money, but it is clear that those who own MSG Forex do not think so.

Next, let's compare what gives MSG Forex and a normal normal office. How should a normal brokerage platform work? A normal investor platform is a key tool for clients to gain access to global markets and make smart investment decisions. A quality platform should have both cent and trial apart from basic.

A savvy investment platform should be available in both mobile and desktop versions. In today's fast-paced world, customers must be able to access their brokerage platform on the go. This allows, for example, to keep track of a rapidly changing situation and instantly sell or buy an asset if there is a compelling reason to do so. A good platform must have a flexible mobile app as well as a complete desktop version in order to meet the various desires and needs of users.

Additionally, a crucial feature of a good trading platform is a robust security feature. Ensuring that your personal information and funds are protected is crucial. A good trading platform should have good security measures, such as two-factor verification, encryption and secure socket layer (SSL) methodology. All these and other things are designed to firmly protect investors from fraud, theft of money from their accounts or hacking into the brokerage platform itself with a general information leak. None of this is the case with MSGForex.

Reviews of MSG Forex

What do the reviews on MSG Forex say? Almost all about fraud and total incompetence of MSG Forex managers. The ratio of positive to negative reviews is, of course, in favour of the negative ones. The favourable opinions on MSG Forex are not all that simple either. The problem is that they are all a bit too artificial and posted recently and essentially at the same time. All that said, these favourable reviews are fake. Here is one such review:
"MSG Forex is a great organisation! The company has a brokerage permit in place. I get 50-100% a month of the amount in my account and I spend fifteen minutes a day on trading. I recommend MSG Forex to everybody!
What a great company indeed! The only one that has the ability to make an ordinary investor a multimillionaire in a few years, as a trader will be able to receive one hundred and fifty to two hundred percent a month. We are sure it is clear that this is not a real review.
Here's another review on MSG Forex written on Reddit:
"MSG Forex is the most profitable broker in the world. I can not understand why it is not number one in the Eurozone and the U.S. yet! The customer service is of the highest level and the managers at MSG Forex are very skilled. I have been working with the company for almost four years and I am doing very well.
And we also can't understand why the broker in question is not number one... among the scammers until now.
Note that those people who were scamming the opinions do not even know themselves MSG Forex has only six months, but not for several years, which typo this person works with MSG Forex. No facts to prove that MSG Forex is "very smart".

Comparing MSG Forex with a normal firm

This snippet of material contains the following information:
  • How an adequate brokerage organisation's platform should be set up;
  • How is the MSG Forex platform;
  • Comparison of a good trading floor with what MSG Forex has;
.

Most important fact which confirms that MSG Forex is a scam

Of course we are referring to the lack of regulation. The regulator has many tasks, especially checking offices of brokers, checking representative firms, checking financials, clients and checking the solvency of the broker. But the most important duty of the regulator is to prevent financial manipulation. Money manipulation can look very different, for example writing off a client's money without their permission, or misusing a client's money in transactions they have not authorised. A couple of months before the crisis of two thousand eight and nine, the largest financial institutions in the US did this on a massive scale. The investor can, for example, recover the money through the regulator. The regulator has its own parameters by which it confirms the competence of financial institution managers, including brokerage firms. This in turn ensures that you will be dealing with real professionals. MSG Forex does not have any trading license, not even a license to trade from some non-existent government agency.

It's also bad enough that it had a meaningful impact on me on a feeling level. Not only have I lost a large sum due to the worthlessness of MSG Forex, but the whole incident has left me feeling betrayed and deeply distrustful of the investment industry. I can't get away from the bad thoughts of the countless hours dedicated to resolving the difficulties and compensating for the financial losses caused by the fraudulent nature of this office.

What other signs and evidence is there that MSG Forex are scammers?

As stated earlier, MSG Forex and its employees are not exempt from aggressive selling, insults, blatant incompetence, marketing tricks like offering exorbitant earnings, scamming reviews. MSG Forex has no legal information on its website, not even an offer agreement, while it should have documents confirming the company's regulation, registration details and probably some regalia. The situation on Google is similar, as with the reviews, they are all the same. MSG Forex not returning funds is a common sign of a scam. MSG Forex analysts also like to give false signals, which are not only unrealistic to make a profit, but on the contrary, all the money evaporates. Criminals often give these signals in order to earn more commission, but it is more true for representatives of white brokerage firms, which engage in such a fraud. But too frequent slippages and glitches MSG Forex platform is also a standard sign of fraud.

What else should be on the platform of a normal broker? Research tools! A brokerage platform should give investors access to analytical tools and resources. These can be financial news, analyst reports, company financials, technical analysis tools and more. These tools allow traders to make informed investment decisions and not to do the wrong thing. And how can one make sound investment decisions when all MSG Forex has is a calendar? Real brokerage firms care about enabling their investors to make informed decisions, as this has a direct impact on the overall prospects of cooperation between them.

A good investor marketplace must have a user-friendly interface. A well-designed, intuitive user interface is essential for a brokerage platform. This makes it possible for clients to easily navigate the platform, manage their personal accounts and conduct transactions without difficulty. None of this is the case with MSG Forex. Although we have seen many different platforms and it is a familiar thing to us, it is difficult to navigate solely on this site with out much experience.
A quality trading platform should have a variety of investment options. A quality trading platform must offer a wide range of trading products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This enables people to diversify their accounts and have access to many asset categories. There are quite a few assets on the MSG Forex site, but the problem is that MSG Forex is a scam and transactions in these assets are not real, it's not all happening in reality, like in a game. Buying silver through the MSG Forex pad you are not really acquiring anything because MSG Forex is unregulated and therefore not allowed to interact with international exchanges and therefore you are not really acquiring anything through a broker in the international market. By the way MSG Forex site not only has a bad usability, but the site is also quite ugly from an aesthetic point of view.

As we can see, the trader not only lost money and mental health, but also did not gain any useful experience as a trader, only disappointment in Forex. If you look at other reviews, you will find approximately the same content. The most common reasoning is that MSG Forex does not withdraw money. Traders also write about the global unqualification of MSG Forex managers. By studying the opinions on MSG Forex we have repeatedly read the information that managers of MSG Forex in the dialogue with investors allow themselves obvious deviousness and allow themselves to be insulted. Reviews for an adequate investment firm should suggest otherwise, well at least things shouldn't be that terrible. All in all, the reviews on MSG Forex also clearly show that MSG Forex is a common scam.



Consequences of dealing with MSG Forex

What happens in a situation when you or anybody else give up on all the evidence given here and decide to try MSG Forex? Let's look into it. Let's take a review of MSG Forex from Reddit:
"I am leaving this review to share my unpleasant experience with MSG Forex and to warn potential victims before they even think about entrusting their hard-earned money to this company. In my years of trading experience I have never come across a worse brokerage firm and it has left me with a bad taste in my mouth and a huge decrease in confidence in the industry as a whole.

Personal experience of "trading" with MSG Forex

The facts stated above are sufficient enough to draw the only true conclusion about the essence of MSG Forex. We decided to see everything for ourselves to be 100% sure.
We registered, the manager of MSG Forex called us back and immediately started to talk with us about making as much money as possible. During the conversation, the MSG Forex representative used the tactics of pushy sales, some ridiculous flattery. We deposited the account for a minimum amount of 25$ and decided to try the tips posted by this broker. What happened next? We lost most of the money in a few transactions and decided to withdraw the money, but they never gave it to us. A MSG Forex employee called us again and tried to dissuade us from withdrawing the funds and, moreover, to refill the account once again and perform trades. It is unclear why the staff did not want to refund the damage immediately, without me giving them personal money again. Obviously, had I done so, the managers would still not have withdrawn the money, not a dollar.

When the situation came down to the main aspect of customer support, I got really angry. Their representatives were either unresponsive or incapable of resolving my difficulties with any semblance of competence. I thought I was dealing with a robot and my requests for help were ignored. In that situation I promptly needed help in a situation of critical market movement, I found myself in a difficult position, and this eventually resulted in me losing a large sum of money.

Conclusions

You've seen it all. MSG Forex is different even among the scams. The firm is so toxic that there is no place to put a stigma on it. MSG Forex reviews that don't seem to be rigged are overflowing with criticism. People often say that the investments are not compensated, the employees are rude, the platform is uncomfortable, it is almost always glitchy, and there are only unpleasant memories from cooperation with the company. If you do not want the same thing to happen to you as to other traders, under no circumstances leave even personal data on MSG Forex website, or if you have already left them, just blacklist the numbers of employees and do not pay attention to them. If you take the risk of discussing anything with a Forex broker, there is a risk that scammers with their skills and experience of trickery will be able to deceive you and steal your hard-earned money. Because they don't just offer any investment solution, they try to gain the trust of their victims by befriending them and luring them with the promise of exorbitant profits.