MICFX Broker Review

MICFX Broker Review – Can MICFX.com Scam You?

Do not start trading with a MICFX broker if you have not already done so. It is not worth your time or money to invest in this company. Our reasons for not trusting brokerages and why we advise anyone against trading with them are detailed below.

Check out our honest MICFX review, and you’ll be able to see it for yourself! Our recently updated DeltaFX and InstaForex broker reviews can be found here, but before we move forward, we encourage you to read them.

1. Broker status: offshore
2. No regulation (Unlicensed Brokerage)
3. Websites used by scammers: MIForex Trading Scam: Active
4. Scam listed by: N/A
5. Owner of the broker: Multi Investment Company Ltd
6. Country of Headquarters: Saint Vincent and the Grenadines
7. 2020 is the foundation year
8. Platforms for online trading: MT4 (MetaTrader 4)
9. Trading on mobile devices: Yes
10. Deposit Minimum: N/A
11. BTC, DOGE, ETH: Crypto assets
12. The following trading assets are available: Forex (FX), commodities, indices, and cryptocurrencies.
13. Leverage maximum: 1:200
14. Islam Account: Available
15. Demo Account: Yes, it’s free
16. US traders are not accepted: US traders are not accepted.
17. Scam Broker: Do not invest in! Global Fraud Protection Experts’ Verdict: Do not invest in this scam broker!

Is MICFX Safe? – The Importance Of Broker Regulation

The MICFX brand is owned by Multi Investment Company Ltd in Saint Vincent and the Grenadines. At the same time, the company claims to be regulated by the SVGFSA and based in Cyprus. Since these two facts seem contradictory, we decided to investigate them further.

Moreover, they said they hope to obtain the ASIC license by 2021. It’s the ninth month of the year, so we somehow believe they haven’t made a decision.

We also recommend avoiding scammers such as FXPoint, JustForex, and BinaryCent. Withdrawals are not possible!

Questions to MICFX License – Reputation Problems

MICFX regulations have been searched in the SVGFSA, CySEC, and ASIC registers for your protection. Unfortunately, we were unable to locate anything. The answer is no, and you should avoid MICFX if you wonder whether it is regulated.

MICFX Deposit Bonus – Welcome Bonus Scam

In addition to Robo-trading, which MICFX brags about a lot, offshore brokers also like to offer bonuses. It is common for brokers to lure inexperienced traders with fake promises of 100% cash bonuses on deposits. The maximum amount you can receive is $100. However, if you keep reading, you will also need to trade a minimum of 2 lots to repay the bonus (only $10). You will spend more than $10 for two lots if you trade on minor market assets. 

In August, the company began giving bonuses, and the promotion is set to end in December 2021.

Furthermore, MICFX reviews say withdrawals are not allowed even after the loan is repaid. You will be stressed about a $100 bonus, so think carefully.

Scammed By MICFX Broker? – Talk To Our Experts Today!

There is no such thing as a scam that is new, and it can happen to anyone. These days, brokers have sophisticated tactics for extorting funds, and you shouldn’t feel ashamed. If MICFX or any other illicit broker has scammed you, you should report it immediately.

At Global Fraud Protection, we have received numerous complaints from MICFX victims. Get in touch with our support department to schedule a free consultation so one of our experts can find you a suitable money-back solution. Scammers should not steal your hard-earned money. Here’s what we need to do. Could you chat with us now via online chat?