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Score
China
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Quantity 35
Exposure
Score
Regulatory Index0.00
Business Index6.73
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
Single Core
1G
40G
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Company Name
MWNG COMPANY LIMITED
Company Abbreviation
MWNG
Platform registered country and region
China
Company website
Company summary
Pyramid scheme complaint
Expose
This is a scam. Do not be cheated.
Fraud company. Don’t allow withdrawals with various reasons...
MWNG is a fraud broker. I've applied for withdrawal many times but they asked me to pay a 20% tax and 1223$. They should be judged by the law to avoid more people being cheated
I am a recent fraud victim of Forex Scam via Facebook. mwngmarket.com was the site I was scammed from. You are unable to withdraw money. They hold your money hostage until you pay a 30% tax for your profit for a 1042S form (which doesn't apply if you are a US citizen since it's foreign income). You can't even withdraw your original principal!!! It seems like a legit broker on MT 4 until you try to withdraw any funds. Please spread the work about other fake Forex Brokers via MT 4 and MT 5 platforms. international-forex.com and hs.furionglobal.com are other scam forex sites. I've already filled out forms for FBI, FTC, SEC, and SDNY, but no response yet.
Ask me to pay a margin deposit of 20%
They said I had to pay $1,451 to withdraw my own money. Is it real or just a scam?
I trade with MWNG 2 months ago. Yesterday I deposit 500 USD to my accounts and the admin tell me it’s complete but this money does not appear in my account and today 2.6.2021 Admin told me to pay about the 1-time fee of 2,888 USD if I do not pay they will freeze my account. I don’t know it real or a scam.
This platform did not allow withdrawals, and began to say that withdrawals need to pay a withdrawal channel fee, and said that after payment, you can withdraw funds, but then they said that the country’s personal income tax was stipulated. After payment, the platform suddenly disappeared, and an email was sent saying it took a few days for the system to be upgraded and maintained. After three days, the customer service platform server disappeared. Today, another email was sent suddenly, and the customer service was contacted again. I asked him when the withdrawal can be received, and now he said that MT4 has terminated the cooperation, and the withdrawal needs to be processed for VIP before the withdrawal can be made, if not, you need to queue up
This fraud broker is without any license
I've traded here for over a month and then I was asked to pay a subscription of $2,888 within 24 hours which they never told me before.
I m trader with MWNG company forex around 1 month and I want to withdraw my money so that I inform admin to my decide and then they inform I m not followed their platform VIP1 then they let me invest more than 16888 USD and limited time in 2 weeks They never inform customers before and when customer got bonus and want to withdraw they just inform by e mail and inform to freeze my account if I can’t invest money more on time that they limit And now they freeze my account and let me pay fines 30% of total amount in my account.
Please be aware of these scammers and don't be fooled, I have invested more than 57000 dollars in this company, and I made more than 150000, Then they started to make me lose some trades which made my loss equal to 50k, then I decided to withdraw my 100k.I have requested a withdrawal but they kept rejecting my request and kept asking me to deposit another 100k in order to withdraw.I refused to deposit again, and they freeze my account and cleared all the money in my wallet. They have blocked devices IP so I can not reach out to them, I could access their website after hiding my IP address using a VPN but still they kept delaying responding and again asked me to deposit more moneyThe company runs in the UK by four Chinese guys pretending they are businessmen from Hong Kong. The website is fake as they hiding their IP address and using google IP address and some other random fake VPN addresses.They are using social media account to scam people. I have added their pictures too for you guys to be aware.Please be aware of these scammers and dont be fooled,
This is a company which cheats people of money
Like others, I cannot withdraw funds from MWNG. Has anyone succeded doing so? Have you been asked to pay a 20% tax? Is this legal or is it a scam?
In Thailand, a lady claimed to be a business woman. I talked for about three days and said that there is a way to make money from MT4. MWNG can make a profit every time. I can withdraw money within 2 hours, which is about twice as much as he claimed that his uncle was stolen. The Bank of America manager knew a lot of internal information and told me the next day to switch to MT5 and transfer the balance from MWNG. Everyone went to Varot Forex. After that, I couldn't withdraw my money. I asked to withdraw approximately US$8,100, but they told me to pay the tax of US$4,017 first, and they used a fake website and license fx919.com.
5. They also allow you to borrow money from them for margin call if you are qualified (pretend they only offer this to VIPs). They request you pay 5% of service charge within 24 hours by showing them wire transfer from your own bank account (cannot be sent by someone else's account and do not accept cryptocurrency) . Within 7 days, they demand you to pay back the money you borrowed, otherwise your account will be frozen. To reactivate your account, you need to pay 10% of the account balance as penalty. 6. If you try to withdraw money for a second time, this is the drama. They claimed they were required by the US finance department to collect taxes for investment earnings. No matter what amount you want to withdraw, you are required to pay a service charge of 10% of account balance. For example, if you have $300k and you want to withdraw $100K, you are required to pay $30K ( $300K *10%). The money must be sent by your bank account directly again cannot be from someone else's account or cryptocurrency. The service charge is only for them to process a statement called Proof of Source of Assets, which they claim you will need for filing tax return. TO BE CONT.
Note: MWNG's official website: http://mwngmarket.com/mwng_en/index.php is normally inaccessible.
MWNG is an unregulated brokerage company registered in China. There are forex, commodities, indices, and share CDFs. MWNG provides maximum leverage up to 1:500, spread from 0.0, and a minimum deposit of $100. While the broker's official website has been closed, so traders cannot obtain more security information.
MWNG is not regulated, which will increase trading non-compliance and reduce traders investment security. Caution is advised when dealing with the company.
After a Whois query, we found that this company's domain name is for sale, which shows that this company has not registered it securely.
The website of MWNG is inaccessible, raising concerns about its reliability and accessibility.
Since MWNG does not explain more transaction information, especially regarding fees and services, this will bring huge risks and reduce transaction security.
MWNG is not regulated, which is less safe than a regulated one.
According to a report on WikiFX, many users encountered significant difficulties with fund withdrawals. The issue remained unresolved despite the request being pending for a long time.
On WikiFX, “Exposure” is posted as a word of mouth received from users.
Traders must review the information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.
Currently, there are 34 pieces of MWNG exposure.
Exposure. Cannot withdraw
Classification | Unable to Withdraw |
Date | 2020-2021 |
Post Country | United Kingdom/Philippines/Thailand |
You may visit: https://www.wikifx.com/en/comments/detail/202109165122840123.html https://www.wikifx.com/en/comments/detail/202107021352608300.html https://www.wikifx.com/en/comments/detail/202106283502401615.html.
MWNG Since the official website cannot be opened, traders cannot get more information about security services. In addition, the unregulated status and unregistered domain name indicate that the broker's trading risks are high. Traders can learn more about other brokers through WikiFX. Information improves transaction security.
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