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MSG Forex Broker provides real users with 5 positive reviews, 1 neutral reviews and 35 exposure review!

MSG Broker Review

2.28

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License

FSA Offshore Regulated

MSG Review 41

Latest All(41) Positive(5) Neutral(1) Exposure(35)
Exposure
It took 8 hours to do trend trading, and no money was given for profitable trades

Fraud platform, hope to give a severe punishment. Its says that you have violated the rules to make profit, and if the unilateral trend is a violation in their mind.

麦克8
2022-11-16
Exposure
Malicious deletion of transaction records, no payment, black platform

I trade at MSG. After making a normal profit, the platform cannot afford to lose money, and the transaction records and points have been deleted.

麦克8
2022-11-16
Exposure
Maliciously delete customer transaction records, spam platform does not withdraw

Fraud platform, everyone should not trade here. Profit is not given. Maliciously delete customer transaction records. The customer service does not reply to the message

麦克8
2022-11-15
Exposure
Mandatory deduction of profits and points

You can only lose money but not make a profit. Account is disabled. Customer service does not handle it. I will send it to the major foreign exchange groups. I will post it everyday. Please stay away from MSG

FX1714088702
2022-11-14
Exposure
No withdrawal will be given for profit. Maliciously delete all the evidence off transaction records, and the points will not be deemed.

I was trading for trend at MSG. The platform does not withdraw after making profit and maliciously deduct profit, and delete all the transaction records. Suggest everyone not to join this fraud platform.

麦克8
2022-11-14
Exposure
Lost all 2000 dollars within a week

Do not understand forex at all. Rely on the customer service of MSG and they said that the loss was due to personal operation problem and ask you to deposit again.

王柏雅
2021-12-07
Exposure
Lost the principle

I saw Max on Facebook, then clicked the link and added their customer service Tim’s Line account and he taught me how to deposit and download MT4. After I practiced the simulation plate, I started depositing in real money. Every time I only invest crude oil and she told me how to buy and sell. The first time I made a short-term and I made $50 in 3 hours, and the second time I got a big loss for three or four days before I made $83 profit. The third time I made a big loss for three or days and I really lost them all. The night before that, I talked to the customer service Tim and said I was worried about losing everything. He said that my principal was too small and there was crude oil data of that night. It would be normal. The result was I lost everything in the early morning. The next day at noon, I told the customer service Tim that I lost it. Tim said why I didn’t tale to him. But I always followed his instructions. He also said that he was watching. I didn’t understand at all and seeing my myself to lost all the money. I am still waiting for instructions. This is my personal experience. Rookie investor should be careful about losing all the principle. Tim said it is your own problem that the principal is not enough. He is too busy to take care of so many people. It has nothing to do with him. I found customer service manager Lv Sheng from the official website and waiting for transfering to Tim’s supervisor Chris. It is take half day to find Chris and ask him to take responsibilities. However, he told me to find other staff to answer my question. After a week, the manager’s reply only said that I need to invest the money again and help me earn it back. Who is dare to hand over the money to Chris, who is not talking about words, and Tim, the customer service who makes you liquidate your position.

王柏雅
2021-11-19
Exposure
Scammers! I can't withdraw money!

The first time I applied for an account on your official website and it said that the authentication was successful. I deposited money. When you write on your official website that you can use USDT to withdraw my money. When I wanted to withdraw, you said that there was a problem with my identity. I uploaded my ID card for verification. Will someone else have my identity or certificate? Then you said that there was a problem with my phone number. Your finance department has checked the information with me. You suspected my credit card. I immediately took a picture of my credit card for you. Didn’t you guys say that there was a problem with the USDT? I also gave a personal account. What do you want? Is it reasonable that withdrawal takes one month? You took my hard-earned money and I believe you again and again. When can I get my money back?

FX3753240163
2021-11-11

  

MSG 2025 Review: Everything You Need to Know

  

Summary

  MSG, also known as Master Select Group, has garnered a predominantly negative reputation in the forex trading community. Numerous user experiences highlight issues with fund withdrawals, unresponsive customer service, and allegations of fraudulent practices. Additionally, MSG operates under questionable regulatory oversight, which raises significant concerns for potential investors.

  Note: It is important to highlight that MSG operates through multiple regional entities, which can lead to confusion regarding its regulatory status. The information presented here aims for fairness and accuracy based on available data.

  

Rating Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 4
Customer Service and Support 2
Trading Setup (Experience) 3
Trustworthiness 2
User Experience 3

  

How We Rate Brokers

  Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding the broker's services.

  

Broker Overview

  Founded in 2017, MSG is an online broker that provides trading services across various asset classes, including forex, commodities, and cryptocurrencies. The platform operates on the widely-used MetaTrader 4 (MT4) trading platform, offering a familiar interface for many traders. However, MSG's regulatory status is concerning, as it claims to be licensed in Vanuatu but lacks substantial oversight from reputable financial authorities.

  

Detailed Analysis

  

Regulatory Status

  MSG is registered under the Financial Services Authority of Saint Vincent and the Grenadines, but it operates without adequate regulation, raising red flags for investor safety. According to BrokersView, MSG's registration number does not correspond to any legitimate entity, suggesting a misrepresentation of its regulatory claims.

  

Deposit/Withdrawal Methods

  MSG supports various deposit and withdrawal methods, including credit cards, wire transfers, and USDT cryptocurrency. However, numerous user complaints indicate severe difficulties in withdrawing funds, with many reporting that their requests go unanswered for extended periods. As stated by Fraud Complaints, users have experienced significant delays, with some unable to withdraw their capital altogether.

  

Minimum Deposit

  The minimum deposit requirement at MSG is reported to be around $100, which is relatively standard for forex brokers, but some reviews suggest that the actual amount may be higher depending on account types.

  

Bonuses/Promotions

  Information regarding bonuses or promotional offers is sparse, and many reviews note that promises of bonuses are often unfulfilled, further contributing to the negative user sentiment surrounding the broker.

  

Tradable Asset Classes

  MSG offers a range of tradable instruments, including forex pairs, commodities, cryptocurrencies, and stock CFDs. However, high spreads (up to 50 pips for certain pairs) have been reported, which is significantly higher than what is typically offered by reputable brokers. According to WikiBit, the spreads on popular pairs like EUR/USD can reach as high as 30 pips, indicating that trading costs may be prohibitive for many traders.

  

Costs (Spreads, Fees, Commissions)

  The costs associated with trading at MSG appear to be quite high, with spreads reported to be significantly above industry standards. Additionally, the lack of transparency regarding fees raises further concerns about the overall cost of trading with this broker.

  

Leverage

  Details regarding leverage offered by MSG are not clearly disclosed, which is a common practice among unregulated brokers. This lack of transparency can pose risks for traders who rely on leverage to amplify their trading positions.

  

Allowed Trading Platforms

  MSG operates exclusively on the MT4 platform, which is widely recognized and used in the trading community. However, the absence of a demo account limits opportunities for new traders to practice before committing real funds.

  

Restricted Regions

  While specific information about restricted regions is not readily available, the lack of regulation suggests that MSG may not be a viable option for traders in jurisdictions with strict financial regulations.

  

Available Customer Service Languages

  MSG offers customer support primarily in English, but many users have reported that customer service is unresponsive or difficult to reach, leading to frustration and dissatisfaction.

  

Repeat Rating Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 4
Customer Service and Support 2
Trading Setup (Experience) 3
Trustworthiness 2
User Experience 3

  

Detailed Breakdown

  

Account Conditions

  MSG's account conditions are subpar, with a minimum deposit that may be misleading and a lack of clarity regarding fees and commissions. The high spreads further diminish the attractiveness of trading here.

  

Tools and Resources

  While MSG provides access to the MT4 platform, the lack of educational resources and transparency in trading conditions leaves much to be desired.

  

Customer Service and Support

  Customer service is a significant pain point for MSG, with numerous reports of unresponsive support channels. Users have expressed frustration over their inability to withdraw funds and the lack of communication from the broker.

  

Trading Setup

  The trading experience is marred by high spreads and a lack of transparency regarding costs, which can deter potential traders.

  

Trustworthiness

  MSG's questionable regulatory status and numerous user complaints about fund withdrawals severely impact its trustworthiness. Many users have labeled it a scam, as indicated by the overwhelming negative reviews.

  

User Experience

  Overall user experience is poor, with many traders reporting issues that lead to significant financial losses and frustration.

  In conclusion, MSG appears to be a risky choice for traders, with numerous red flags that warrant caution. Potential investors are advised to conduct thorough research and consider more reputable alternatives before engaging with this broker.