Note: M.SUCCESS FXs official site - https://www.m-successfx.com/en is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
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
What is M.SUCCESS FX？
M.SUCCESS FX, a brokerage claiming to offer a Standard Account with a minimum deposit of $1000, has recently come under scrutiny due to concerns regarding its regulatory status and operational activities. The licensing information provided by FCA has been flagged as a suspicious clone, raising doubts about the legitimacy of the broker. It has been alleged that all of M.SUCCESS FX's licenses have expired and the broker has been listed on WikiFX's Scam Brokers list.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
M.SUCCESS FX Alternative Brokers
There are many alternative brokers to M.SUCCESS FX depending on the specific needs and preferences of the trader. Some popular options include:
ForexMart – A well-established brokerage offering a wide range of trading services, including forex, CFDs, and cryptocurrencies, with a focus on excellent customer support and educational resources.
TrioMarkets - A global forex and CFD broker offering a diverse range of trading instruments, competitive spreads, and advanced trading platforms to cater to the needs of both beginner and experienced traders.
LIGHT FX - An innovative online brokerage that prides itself on offering competitive trading conditions, cutting-edge technology, and a user-friendly interface to empower traders of all levels.
Is M.SUCCESS FX Safe or Scam？
The license of Financial Conduct Authority (FCA, No. 528328) is claimed as suspicious clone and it has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Therefore, M.SUCCESS FX currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. Besides, the official website of M.SUCCESS FX is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.
If you are considering investing with M.SUCCESS FX, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.
Accounts
The Standard Account offered by M.SUCCESS FX requires a minimum deposit of $1000. This means that in order to open and maintain a Standard Account with M.SUCCESS FX, traders must fund their account with a minimum of $1000.
The Standard Account typically offers a range of features and benefits that may vary from broker to broker. These features may include access to various financial instruments, competitive spreads, leverage options, and additional trading tools or resources.
It is important for traders to carefully consider their financial situation and trading goals before depositing funds into an account. They should also review the terms and conditions provided by M.SUCCESS FX regarding the Standard Account to fully understand any associated costs, trading conditions, and other relevant details.
Trading Platforms
M.SUCCESS FX offers its clients the popular trading platform MetaTrader 5 (MT5). MT5 is a versatile and advanced platform that provides traders with a wide range of tools and features to enhance their trading experience.
MT5 offers a comprehensive charting package, providing traders with access to a variety of technical indicators and charting tools. This allows traders to analyze price movements, identify patterns, and make informed trading decisions. Moreover, the platform supports multiple timeframes, enabling traders to view price data in different intervals and enhance their trading strategies.
MT5 also supports mobile trading, enabling traders to access their accounts and trade on the go. The platform is available on both iOS and Android devices, providing traders with the flexibility to monitor the markets, manage their positions, and execute trades from anywhere with an internet connection.
See the trading platform comparison table below:
User Exposure on WikiFX
On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: English: (718) 917-8200
Traditional Chinese（HK): (718）917-8200
Email: Service@msuccessfx.com
Conclusion
In conclusion, M.SUCCESS FX's regulatory status and operational activities raise significant concerns. The claim that their licensing information from FCA is a suspicious clone, combined with allegations of expired licenses and being listed on WikiFX's Scam Brokers list. The inaccessibility of their official website further adds to the doubts surrounding their operations, indicating a potential risk of the trading platform absconding. Reports of failed withdrawal attempts and potential scams associated with M.SUCCESS FX highlight the potential for fraudulent activities. Therefore, it is advisable for investors to exercise extreme caution and consider alternative brokers with a proven track record of regulatory compliance and transparent operations.
Frequently Asked Questions (FAQs)
FX3429668275
Hong Kong
A complete fraud platform. You can't withdraw after deposit. All the funds you bought are fake. Polish your eyes.
Exposure
2020-10-25
天安假日旅行谷城石花门市店
Hong Kong
I was induced to deposit fund and attend the training in Gushan Building. Now the withdrawal is unavailable. I caution you against it.
Exposure
2020-07-05
等待儞的回眸～
Hong Kong
The withdrawal is unavailable since last December. My position is locked for more 6 months. My 10 thousand dollars was gone. Now I even couldn’t log in to the platform.
Exposure
2020-07-03
FX3429668275
Hong Kong
On last December 23rd, M.SUCCESS FX noticed that it would merge with TTrade, which is only a scam route. Now all withdrawals and interests are unavailable.
Exposure
2020-07-01
落了
Hong Kong
Since December 23, with the excuse of system upgrading, M.SUCCESS FX kept fending off. On May 3rd, it transferred clients’ fund into AFC Fund. As of June 7th, the fund was yet to be received. No service responded. Such scams as TT Coin, TTREAD Technology, Binance Community, Msuccess International main are all manipulated by the chairman Chen Wei. Take heed on it.
Exposure
2020-06-08
华仔43992
Hong Kong
The withdrawal is unavailable since looming of the forced liquidation in PTFX. When I applied for the withdrawal on last December 30th, M.SUCCESS FX , with the excuse of data transition, refused my request. It should be done by January 31st, while the withdrawal is yet to be received as of May 26.
Exposure
2020-05-26
李伟建
Hong Kong
1. M.SUCCESS FX locked clients’ position with the excuse of system upgrading. In April, it used the excuse of covid-19, communication difficulties and core technician resignation to hold off the withdrawal. In May, it stipulated that only by following the order for 3 months, can we withdraw fund. During the period, the trader added lots deliberately to cause losses, enabling clients to cancel order documenting. What a phony! 2. During the upgrading, M.SUCCESS FX claimed a 12.5% of profits as compensation, which is yet to be received. With the excuse of international vicissitudes, it canceled the order documenting business. To those who hasn’t bought the fund, it asked them to pay $100 to activate the account. Instead of compensating, it continued to ask for above $1000 before giving access to the withdrawal. It is simply a scam!
Exposure
2020-05-09
FX2956949574
Hong Kong
The price is varied on different software. Actually, the trend is fake.
Exposure
2020-03-18
万年青
Hong Kong
My position has been locked for 1 month. Now they asked me to wait another 3 months. Their PR capability was too poor.
Exposure
2020-01-09