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MB Group -

Score

1.13 /10
Danger

MB Group

United States

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.mbgroups.cc

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Comparison

Quantity 4

Exposure

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Score

Regulatory Index0.00

Business Index4.06

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

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

Single Core

1G

40G

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Broker Information

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Company Name

MB Group Limited

Company Abbreviation

MB Group

Platform registered country and region

United States

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-12-27
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 000296805) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Inability to withdraw and response they gave me

I already explained this case and today the mb group platform gave us a solution of paying 16,500 USD more to be able to recover my funds and what was previously paid....

Bryan Aravena
2024-07-18 10:41
Unable to Withdraw

Withdrawal fraud

I invested in mbgrous.cc brokers in April and when I wanted to withdraw my earnings of 114393.43 USD on May 11, 2024, he made me pay 19% of that profit of my country's tax, then when I was late to cancel, he charged me a penalty of 20000 USD more to get my funds to my binance account. Having already paid over 40000 USD for my earnings to arrive, they are still charging me 15000 USD for the delay in paying.... My account is currently frozen until I pay the 15000 USD. I am sending proof of the investment app plus the conversations and the brokers page.

Bryan Aravena
2024-07-03 09:09
Resolved

They ask to purchase insurance to withdraw

I invested in the mbgroups platform, and when I requested to withdraw my money, they asked me to pay a 19% fee and then asked me to pay another fee. Even after completing the payments, I still did not receive my money. After several days, the company contacted me, explaining that their agents committed fraud and that they would help us. They sent a statement explaining that we could only withdraw and recover our money with insurance coverage. Supposedly, they should help us in another way. What security or guarantee do I have that this time they will fulfill the payment?

Raúl C.
2024-07-21 12:00
Unable to Withdraw

Compensation

I would like, in addition to the money that is frozen for me, 114,393.43 USD that is in withdrawal, plus 19% (21,734.7517 USD) of those profits that I was made to pay, and the 20,000 USD for a supposed fine, some compensation. I had to borrow money from my family, which we are paying with interest, in order to pay the total of 41,734.7517 USD that I supposedly paid so that everything would be transferred to my account. As a result, we have suffered damages and prejudice, in addition to accumulated stress from the psychological pressure of working solely to pay off debts to the banks...

Bryan Aravena
2024-07-12 13:04
MB Group · Company summary

MB Group Information

MB Group, founded in January 2024, is a retail financial service provider offering CFD trading on over 250 instruments like forex, indices, commodities, and energies. While it offers low fees, MT4 platform options, and languages support, a major red flag is the lack of verification from any regulatory bodies like ASIC & VSFC, this increase the risk of trading.

MB Group Information

Pros and Cons

Pros Cons
Over 250 tradable instrumentsRegulation status is “Exceeded”
Provide the minimum spread and commission start from 0.Only offers email support, with no phone or live chat options.
Provide both MT4 Desktop and a mobile app for convenient trading.lack of a physical address makes it difficult to verify the legitimacy
High leverage up to 1:500

Is MB Group Legit?

MB Group is not regulated by any regulatory authorities. Although they claim to be operated by MB Group Limited and regulated by the Australian Securities and Investments Commission (ASIC) with number 296805 and the Vanuatu Financial Services Commission (VSFC), Company with number 700455, its regulatory information cannot be found on the websites of ASIC and VSFC.

Is MB Group Legit?
Is MB Group Legit?

What Can I Trade on MB Group?

MB Group is a retail financial service provider that provides over 250 trading instruments to trade from, including CFDs for currency pairs, energies, commodities and indices.

Tradable Instruments Supported
Forex✔
Indices✔
Shares❌
Energies✔
Commodities✔
ETFs❌
Crypto❌
Bonds❌
Futures❌
What Can I Trade on MB Group?

Account Type

MB Group offers two account types: Standard and ECN. Both accounts provide a secure trading environment with fast execution. They also provide free demo account.

The Standard Account is commission-free but has a minimum spread from 1 pips, while the ECN Account offers tighter spreads starting from 0.0 pips but incurs a commission per round trade. Both accounts require a minimum deposit of $200 and have leverage up to 1:500, providing traders with flexibility in their trading strategies.

Account Type

MB Group Fees

The trading fees of MB Group are lower than the industry standard.

Trading Fees

MB Group offers commission-free Standard Accounts with minimum spreads from 1 pips.

ECN Accounts have tighter spreads starting from 0.0 pips but needs a commission per round trade.

MB Group Fees

Trading Platform

Trading PlatformSupported Available Devices Suitable for which type of traders
MT4 Desktop version✔
  1. Access to over 250 trading instruments
  2. Ultra-fast executions
  3. Support the use of Expert Advisors (EA)
  4. Built-in thousands of indicators for market analysis
  5. Easy-to-customise charts
  6. Simplicity layout to make trade easier
Traders prioritize advanced technical analysis, automated trading, and customization.
MB Group mobile app✔
  1. View real-time pricing & executi
  2. Open & close positions anytime
  3. Place buy/sell orders
  4. View trading history
  5. 9 types of time-frames from a minute to a month
  6. Access over 30+ popular technical indicators
  7. 24 analytical charting tools
Traders value convenience and on-the-go trading
Trading Platform

Deposit and Withdrawal

The minimum deposit to start trading with MB Group is $200.

Deposit Options

Deposit Options Min. DepositFees Processing Time
BANK WIRE TRANSFER$200\Order execution speed <20ms
Credit or debit card$200\Order execution speed <20ms
Cryptocurrency$200\Order execution speed <20ms

Withdrawal Options

Withdrawal Options Min. Withdrawal Fees Processing Time
BANK WIRE TRANSFER$0\Order execution speed <20ms
Credit or debit card$0\Order execution speed <20ms
Cryptocurrency$0\Order execution speed <20ms

Customer Service

MB Group's customer service options are quite limited. You can only reach them via email, and there's no way to get immediate support. This is a concern for traders.

Contact Options Details
PhoneNone
Emailmggroup@mbgroupfx.cc
Support Ticket SystemNone
Online ChatNone
Social MediaNone
Supported LanguageEnglish, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese.
Website LanguageEnglish, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese.
Physical AddressNone
Contact FormNone

The Bottom Line

MB Group is a new company that provides more than 250 tradeable tools through a user-friendly platform, with zero starting spreads and commissions. However, unregulated can be an important warning, particularly considering that their customer service is only available via email.

Experienced traders who seek diverse trading instruments with low fees will find MB Group appealing, but only after accepting regulatory issues.

FAQs

Is MB Group a safe broker?

No, MB Group is a relatively new company and is not regulated by any major financial agencies, using it carries some risk.

Who is MB Group a good fit for?

Due to the lack of regulation and limited customer support, MB Group might not be the best choice for beginners who need more protection and readily available assistance.

Is MB Group good for day trading?

MB Group isn't the best choice for day trading. They provide limited customer service, and intraday traders usually need immediate help.

User Reviews

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User comment

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Comments

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FX2246620349
0-3months
Esta es una plataforma confiable y los retiros llegan rápidamente. Creo que es muy buena de usar y los retiros grandes llegan rápidamente.
Esta es una plataforma confiable y los retiros llegan rápidamente. Creo que es muy buena de usar y los retiros grandes llegan rápidamente.
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2024-11-12 23:20
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Raúl C.
6-12months
invertí en la plataforma de mbgroups y cuando solicite retirar mi dinero , me solicitaron un pago de tarifa del 19% y luego me pidieron pagar otra tarifa . Cuando complete los pagos igualmente no recibí mi dinero … luego de varios días se contactó conmigo la empresa explicando que sus agentes cometieron fraude y que nos iban a ayudar . enviaron un comunicado explicando que solo podíamos retirar y recuperar nuestro dinero con un seguro de cobertura . supuestamente deberían ayudarnos de otra manera , que seguridad o garantía tengo que esta vez cumplirán con pagar . no quiero volver a ser engañado por favor yo solo quiero que me devuelvan dinero . ayúdenme
invertí en la plataforma de mbgroups y cuando solicite retirar mi dinero , me solicitaron un pago de tarifa del 19% y luego me pidieron pagar otra tarifa . Cuando complete los pagos igualmente no recibí mi dinero … luego de varios días se contactó conmigo la empresa explicando que sus agentes cometieron fraude y que nos iban a ayudar . enviaron un comunicado explicando que solo podíamos retirar y recuperar nuestro dinero con un seguro de cobertura . supuestamente deberían ayudarnos de otra manera , que seguridad o garantía tengo que esta vez cumplirán con pagar . no quiero volver a ser engañado por favor yo solo quiero que me devuelvan dinero . ayúdenme
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2024-07-21 12:00
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