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MCCM -

Score

1.34 /10
Danger

MCCM

Bahamas

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://mcc-markets.com/en

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Comparison

Quantity 3

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index5.69

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

MCC Markets

Company Abbreviation

MCCM

Platform registered country and region

Bahamas

Company website

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2025-01-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Exposure

3 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

can't withdraw $

The exchange reported an error that the account could not be logged in to withdraw! I texted support but they told me not to withdraw!

Duc Sama
2023-08-01 14:30
Unable to Withdraw

Michael Chen AND MCC SCAM, DO NOT SUPPORT CUSTOMER WITHDRAWALS

Michael Chen, Chinese nationality, CEO of MCC Markets, is a scammer in the forex industry. Previously, he falsely claimed that he was Co-Founder of MCC Markets, using this guise to carry out his fraudulent activities. Operating as a broker, Michael Chen established MCC with the sole purpose of illegally appropriating clients' assets. He deftly portrayed the image of a successful CEO in the Forex industry and established relationships with IBs (Introducing Brokers) in Southeast Asia. His scam method involved convincing IBs to promote MCC as a reputable and affordable broker for investors. When IBs began to lure customers, Michael was involved in a nefarious plan to prevent clients from withdrawing money using baseless excuses. He then forces IBs to continue to find new customers to handle the unresolved backlog of withdrawal requests. However, even with the addition of new customers, Michael continued to delay the payment of old customers. On July 12, 2023, Michael announced that he would leave MCC, despite still holding shares of the company. When telling IBs about pending withdrawals, he claimed that MCC had gone bankrupt, preventing clients from accessing their accounts. The amount he defrauded in Southeast Asian countries is estimated at around $500,000 to date and this amount could be significantly higher due to many unreported victims among these major IBs. Obviously, Michael Chen's behaviors are shocking. But IBs are innocent in forex industry. Be careful with him because he can join another broker or open another broker under a different name to start scamming people again.

Nguyen Kim Thu
2023-07-21 20:21
Scam

MICHAEL CHEN AND MCC SCAM

Michael Chen, a China national, the CEO of MCC Markets, is a notorious scammer in the forex industry. He deceitfully presented himself as the Co-Founder of MCC Markets in the past, using this guise to orchestrate his fraudulent activities. Operating as a broker, Michael Chen established MCC with the sole intention of unlawfully seizing clients' assets. He cunningly cultivated the image of a successful CEO in the FX industry and developed relationships with IBs (Introducing Brokers) in Southeast Asia. His scamming method involved convincing IBs to promote MCC as a reputable and affordable broker for investors. Once IBs began bringing in clients, Michael engaged in a nefarious scheme of obstructing fund withdrawals for clients with baseless excuses. He then coerced the IBs to keep recruiting new customers to handle the backlog of unresolved withdrawal requests. However, even as new clients were brought in, Michael continued to delay payments to the older clients. On 12 July 2023, Michael made an official announcement that he was resigning from his position at MCC, despite still holding shares in the company. When confronted by the IBs about the pending withdrawal orders, he audaciously claimed that MCC had gone bankrupt, leaving the customers without access to their funds. The amount of money he fraudulently appropriated in Southeast Asian countries is estimated to be around USD$500k till date and this sum may be significantly higher due to many unreported victims among the IBs. In light of these appalling actions, it is evident that Michael Chen is a dangerous scammer, causing financial harm to innocent investors and IBs in the forex industry. Please beware of him as he may join another broker or open another brokerage under a different name to start scamming people again.

Nguyen Kim Thu
2023-07-24 11:26
MCCM · Company summary

Note: MCCMs official website: https://mcc-markets.com is currently inaccessible normally.

MCCM Review Summary
Founded2020
Registered Country/RegionBahamas
RegulationUnregulated
Market InstrumentsForex, Indices, Cryptocurrencies, Precious Metals, Commodities
Demo Account/
LeverageUp to 1:500
Spread/
Trading PlatformMetaTrader 5 (MT5)
Min Deposit$50
Customer SupportEmail: cs@mcc-markets.com

MCCM Information

Founded in 2020, MCC Markets is a Bahamas-based unregulated financial services company. Accessible through the extensively utilized MetaTrader 5 platform, it provides Forex, indices, cryptocurrencies, precious metals, and commodities among other trading tools. Notwithstanding its range of trading choices, absence of regulatory control and inaccessibility of its website could lead problems for possible traders.

Pros and Cons

Pros Cons
Multiple trading instrumentsUnregulated
Different account types availableInaccessible website
MetaTrader 5 platform availableLimited customer support

Is MCCM Legit?

MCCM is unregulated. The lack of oversight means MCC Markets does not follow financial regulatory guidelines or regulations. Therefore, the company's activities, practices, and interactions are unregulated.

Is MCCM Legit?

Originally registered November 9, 2020, the domain vtindex.com expires November 9, 2026. Last update date was October 22, 2024. Currently under limited state with prohibitions on deletion, renewal, transfer, and alterations. Although the domain is used actively, users interacting with the connected entity run probable risks because of insufficient control of regulations.

Is MCCM Legit?

What Can I Trade on MCCM?

MCCM's trading instruments include commodities, indices, cryptocurrencies, precious metals, major, minor, and exotic currency pairs.

Tradable Instruments Supported
Forex✔
Indices✔
Cryptocurrencies✔
Precious Metals✔
Commodities✔

Account Types

Four live trading accounts are available from MCCM: STD, STP, VIP, and ECN accounts.

Account TypeMinimum DepositMaximum LeverageFeaturesSuitable For
VIP Account$10,000Up to 1:500Premium services, tighter spreadsProfessional and institutional traders
ECN Account$500Up to 1:500Direct market access, competitive spreadsExperienced traders
STP Account$100Up to 1:30Straightforward trading, market executionIntermediate traders
STD Account$50Up to 1:30Basic features, accessible for beginnersBeginner traders or those with low capital

Leverage

MCCM offers leverage of up to 1:500 for Forex and a number of other instruments, opening the door to larger holdings. However, as excessive leverage can compound both benefits and losses, it highlights the importance of rigorous risk management.

Trading Platform

Trading PlatformSupported Available Devices Suitable for what kind of traders
MetaTrader 5 (MT5)✔Web, Desktop, Mobile AppsAdvanced tools and analysis for all traders

Deposit and Withdrawal

MethodMin Deposit/WithdrawalFeesProcessing Time
Bank Transfer$50Free1-3 Business Days
Visa/MasterCard$50FreeInstant
Skrill/Neteller$50FreeInstant
Tether (USDT)$50FreeInstant

User Reviews

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User comment

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Comments

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Fortenor
more than one year
MCCM's got a bunch of account types that fit different traders' needs, and their customer support team is really on it, quick to help out whenever I've got a question.
MCCM's got a bunch of account types that fit different traders' needs, and their customer support team is really on it, quick to help out whenever I've got a question.
Translate to English
2024-07-18 17:45
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Aoi M., Oita
more than one year
Trading signals are useful. They don't guarantee success, but they've definitely helped me see possible trades I might have missed on my own.👍👍👍
Trading signals are useful. They don't guarantee success, but they've definitely helped me see possible trades I might have missed on my own.👍👍👍
Translate to English
2024-06-27 18:33
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