MB Group Forex broker specializes in providing foreign exchange trading services, the company's official website https://h5.mggroup.cc/#/pages/common/register, the company's legitimate regulatory information AustraliaASICFinancial Service,VanuatuVFSCRetail Forex License, to enhance the security of the company's address .
MB Group Forex Broker
Basic information
United States
1-2 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
MB Group Information
MB Group, founded in January 2024, is a retail financial service provider offering CFD spanading on over 250 instruments like forex, indices, commodities, and energies. While it offers low fees, MT4 platform options, and languages support, a major red flag is the lack of verification from any regulatory bodies like ASIC & VSFC, this increase the risk of trading.
Pros and Cons
Is MB Group Legit?
MB Group is not regulated by any regulatory authorities. Although they claim to be operated by MB Group Limited and regulated by the Australian Securities and Investments Commission (ASIC) with number 296805 and the Vanuatu Financial Services Commission (VSFC), Company with number 700455, its regulatory information cannot be found on the websites of ASIC and VSFC.
What Can I Trade on MB Group?
MB Group is a retail financial service provider that provides over 250 trading instruments to trade from, including CFDs for currency pairs, energies, commodities and indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Shares | ❌ |
| Energies | ✔ |
| Commodities | ✔ |
| ETFs | ❌ |
| Crypto | ❌ |
| Bonds | ❌ |
| Futures | ❌ |
Account Type
MB Group offers two account types: Standard and ECN. Both accounts provide a secure trading environment with fast execution. They also provide free demo account.
The Standard Account is commission-free but has a minimum spread from 1 pips, while the ECN Account offers tighter spreads starting from 0.0 pips but incurs a commission per round trade. Both accounts require a minimum deposit of $200 and have leverage up to 1:500, providing traders with flexibility in their trading strategies.
MB Group Fees
The trading fees of MB Group are lower than the industry standard.
Trading Fees
MB Group offers commission-free Standard Accounts with minimum spreads from 1 pips.
ECN Accounts have tighter spreads starting from 0.0 pips but needs a commission per round trade.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for which type of traders |
| MT4 Desktop version | ✔ |
| Traders prioritize advanced technical analysis, automated trading, and customization. |
| MB Group mobile app | ✔ |
| Traders value convenience and on-the-go trading |
Deposit and Withdrawal
The minimum deposit to start trading with MB Group is $200.
Deposit Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| BANK WIRE TRANSFER | $200 | \ | Order execution speed <20ms |
| Credit or debit card | $200 | \ | Order execution speed <20ms |
| Cryptocurrency | $200 | \ | Order execution speed <20ms |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Fees | Processing Time |
| BANK WIRE TRANSFER | $0 | \ | Order execution speed <20ms |
| Credit or debit card | $0 | \ | Order execution speed <20ms |
| Cryptocurrency | $0 | \ | Order execution speed <20ms |
Customer Service
MB Group's customer service options are quite limited. You can only reach them via email, and there's no way to get immediate support. This is a concern for traders.
| Contact Options | Details |
| Phone | None |
| mggroup@mbgroupfx.cc | |
| Support Ticket System | None |
| Online Chat | None |
| Social Media | None |
| Supported Language | English, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese. |
| Website Language | English, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese. |
| Physical Address | None |
| Contact Form | None |
The Bottom Line
MB Group is a new company that provides more than 250 tradeable tools through a user-friendly platform, with zero starting spreads and commissions. However, unregulated can be an important warning, particularly considering that their customer service is only available via email.
Experienced traders who seek diverse trading instruments with low fees will find MB Group appealing, but only after accepting regulatory issues.
FAQs
Is MB Group a safe broker?
No, MB Group is a relatively new company and is not regulated by any major financial agencies, using it carries some risk.
Who is MB Group a good fit for?
Due to the lack of regulation and limited customer support, MB Group might not be the best choice for beginners who need more protection and readily available assistance.
Is MB Group good for day trading?
MB Group isn't the best choice for day trading. They provide limited customer service, and intraday traders usually need immediate help.
Rating Index
ECN ACCOUNT
STANDARD ACCOUNT
MB Group Similarly Rated Brokers
Latest Reviews
Alma Alma
Japan
이 거래소는 아주 좋다. 저도 친구한테 소개받았어요. 그들의 서비스는 매우 좋다. 당신들이 손해를 보는 사람은 더 이상 이 소프트웨어를 모욕하지 마십시오. 다만 아쉽게도 평점이 낮다.
Neutral
2024-11-08
Raúl C.
Mexico
I invested in the mbgroups platform, and when I requested to withdraw my money, they asked me to pay a 19% fee and then asked me to pay another fee. Even after completing the payments, I still did not receive my money. After several days, the company contacted me, explaining that their agents committed fraud and that they would help us. They sent a statement explaining that we could only withdraw and recover our money with insurance coverage. Supposedly, they should help us in another way. What security or guarantee do I have that this time they will fulfill the payment?
Exposure
2024-07-21
FX2246620349
Singapore
This is a reliable platform and withdrawals arrive quickly. I think it is very good to use and large withdrawals arrive quickly.
Positive
2024-11-12