Score

3.10 /10
Danger

Mckay Global Markets

Australia

1-2 years

Regulated in Australia

Investment Advisory License

Suspicious Scope of Business

Suspicious Overrun

Medium potential risk

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Exposure

Time Machine
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Score

Regulatory Index3.05

Business Index5.17

Risk Management Index0.00

Software Index4.00

License Index3.05

Time Machine
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Warning: Low score, please stay away! 2
Previous Detection : 2024-09-21
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 346282)Investment Advisory Licence Non-Forex License. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Mckay Global Markets · Company summary
Aspect Information
Company Name Mckay Global Markets
Registered Country/Area Australia
Founded Year 2021
Regulation Suspicious Clone(ASIC)
Products & Services N/A
Spreads N/A
Trading Platforms N/A
Customer Support Email:support@mckaymarkets.com;Phone:+61 2-8007-4673

Overview of Mckay Global Markets

Mckay Global Markets is an Australian-based company established in 2021, identified as a suspicious clone by the Australian Securities and Investments Commission (ASIC).

The specific details about its products, services, spreads, and trading platforms are not available (N/A). However, the company provides customer support through email at support@mckaymarkets.com and by phone at +61 2-8007-4673, offering assistance and information to its clients or interested parties.

However, the official website of Mckay Global Markets, namely https://www.mckaymarkets.com/, is currently experiencing functionality issues.

Overview of Mckay Global Markets

Is Mckay Global Markets Legit or a Scam?

Mckay Global Markets is under scrutiny by the Australian Securities & Investment Commission (ASIC), labeled as a “suspicious clone,” indicating potential concerns about its legitimacy. The company holds an Investment Advisory License in Australia, with the license number 346282.

Is Mckay Global Markets Legit or a Scam?

Pros and Cons

Pros Cons
N/A Suspicious Clone Status
Lack of Transparency
Regulatory Concerns
Limited Customer Support Information
New Market Player

Cons:

  1. Suspicious Clone Status: Mckay Global Markets is flagged as a “suspicious clone” by ASIC, which raises serious concerns about its credibility and the authenticity of its operations. This status can deter potential clients who seek trustworthy and reliable financial services.

  2. Lack of Transparency: The unavailability of information regarding the company's products, services, spreads, and trading platforms indicates a lack of transparency. This absence of detailed information can hinder informed decision-making for potential clients and partners.

  3. Regulatory Concerns: Being labeled as a suspicious clone will imply that Mckay Global Markets could be mimicking a legitimate firm or engaging in misleading practices. This not only affects client trust but also exposes clients to potential risks and regulatory issues.

  4. Limited Customer Support Information: While the company provides an email and phone number for customer support, the absence of additional information or resources such as a comprehensive FAQ section, user guides, or a community forum will limit the effectiveness of their customer service.

  5. New Market Player: As a company founded in 2021, Mckay Global Markets lacks an established track record, which will make it difficult for clients to gauge the firm's stability, performance history, and the overall reliability of its investment advice or services.

Customer Support

Mckay Global Markets provides customer support through both email and telephone to address queries and concerns from clients or potential customers.

Individuals can reach out via email at support@mckaymarkets.com for detailed inquiries, feedback, or support requests.

Additionally, for more immediate or direct communication, customers can contact the company by phone at +61 2-8007-4673.

Conclusion

In summary, Mckay Global Markets, an Australian firm established in 2021, is under considerable examination as a “potential clone” by ASIC. Traders are exercising heightened vigilance towards such brokers with limited information.

FAQs

Q: What does “suspicious clone” mean for Mckay Global Markets?

A: Being labeled as a “suspicious clone” indicates that ASIC has identified Mckay Global Markets as potentially mimicking a legitimate entity or engaging in deceptive practices, which raises concerns about its authenticity and the safety of engaging with the firm.

Q: How can I contact Mckay Global Markets for support?

A: You can contact Mckay Global Markets' customer support by sending an email to support@mckaymarkets.com or by calling their support line at +61 2-8007-4673 for any inquiries or assistance.

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Jan de Vries
more than one year
Amazing customer support, feel so warm❤❤❤
Amazing customer support, feel so warm❤❤❤
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2024-05-22 11:43
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Maarten
more than one year
Spreads on majors like EURUSD, GBPUSD rise above 30 pips (for newbies at 1vol = $300 between buy and sell instead of the usual $15) from 20:30 to 23:00 GMT every night Margin requirements are being doubled, at best with 8h pre-notice but, usually with an email on the next day. Yes the next day. So if you are not a seasoned trader don't even bother.
Spreads on majors like EURUSD, GBPUSD rise above 30 pips (for newbies at 1vol = $300 between buy and sell instead of the usual $15) from 20:30 to 23:00 GMT every night Margin requirements are being doubled, at best with 8h pre-notice but, usually with an email on the next day. Yes the next day. So if you are not a seasoned trader don't even bother.
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2024-03-14 16:27
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