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MCS Forex
Australia|5-10 years| http://www.mcsforex.com/en/index.html
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MACKAY COMMODITY SERVICES PTY LTD
MCS Forex
Australia
Pyramid scheme complaint
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- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
- The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
- The AustraliaASIC regulation (license number: 312912) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
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MCS Forex · Company Summary
Note: For some unknown reason, we cannot open MCS Forexs official site (http://www.mcsforex.com/en/index.html) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
Risk Warning
MCS Forex has been verified to be illegal and its license has expired, and it has been listed in WikiFX's Scam Brokers list; please be aware of the risk!
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
MCS Forex, a trading name of MACKAY COMMODITY SERVICES PTY LTD, is allegedly a forex broker incorporated on 31 May 2013 and registered in Australia that claims to provide its clients with the worlds leading MetaTrader4 trading platform.
As this brokerage's website cannot be accessed, we were unable to obtain further details about its trading assets, leverage, spreads, minimum deposit, etc.
As for regulation, it has been verified that MCS Forex has a suspicious clone Australia Securities & Investment Commission (ASIC) license and it has been verified to be illegal. That is why its regulatory status on WikiFX is listed as “Illegal” and receives a relatively low score of 1.50/10. Please be aware of the risk.
Market Instruments
MCS Forex advertises that it is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.
Trading Platform Available
The platform available for trading at MCS Forex is said to be the industry-standard MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Customer Support
MCS Forex‘s customer support can only be reached by email: info@mcsforex.com and info@fsapfx.com. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most brokers offer.
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