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Mgmex -

Score

1.28 /10
Danger

Mgmex

United States

1-2 years

Suspicious Regulatory License

High potential risk

https://www.mgmexport.com/#

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Comparison

Quantity 7

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index5.24

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Time Machine
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

Mgmex

Company Abbreviation

Mgmex

Platform registered country and region

United States

Company website

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-11-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

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

I can't withdraw money, I need to pay to withdraw

Asked me to deposit more money to withdraw \

2023-09-20 20:59
Others

Cannot access and withdraw funds

After trading, I can't access the application and website. All my money cannot be withdrawn.Be careful this guy is doing investment fraud.

2023-12-08 23:27
Unable to Withdraw

Require payment to verify account

The exchange asked me to pay money to verify my account and I did. But after I finished depositing money, the exchange froze my account. I asked customer service and received an unsatisfactory explanation and I was asked to continue depositing for verification. The amount in my frozen account is $17374.6576. Please help me

2023-10-25 08:19
Unable to Withdraw

I got scammed out of $135,000

At the beginning of May 2023, there was a person who became acquainted with me and said he was an investment finance expert. They instructed me to open an account and after that I was unable to withdraw from my account. Noticing it a scam I sent a message to the NFA licensing authority. However, this agency does not regulate the Mgmex trading platform. After that, I contacted IT to check the information and this exchange was set up and launched in Hong Kong, China. Everyone beware of this exchange. I hope the mediation center can contact and investigate so I can get my lost money back.

2023-07-30 21:50
Others

I can't withdraw money from my investment account

I can't withdraw money from my investment account. Even though my account is at $1,100,000. I need help.

2023-07-11 15:03
Unable to Withdraw

I deposited 20,000usd into my account, my account is currently over 100,000usd. But no withdrawal is allowed.

My account was frozen and I was not allowed to withdraw money. And I had to pay extra money to withdraw. I deposited 20,000 USD into my account, my account currently has an interest of more than 100,000 USD. I was not allowed to withdraw money but had to pay an additional 32,000 USD for it. I hope you can help me solve it.

2023-11-01 15:07
Unable to Withdraw

Can't withdraw money

I installed the app, presented my ID, and opened an account. Deposit money into your personal account several times according to the instructions of customer service. I made a profit on dozens of trades. When I requested a full withdrawal, I was asked to pay a 20% service fee within 3 days. Since I can't pay, I asked them to stop the withdrawal, but it has already been approved. If you don't pay within 3 days, it will be frozen. The transaction was carried out as instructed by Hank, who calls himself Korean, on LINE. The total amount of damage deposited was 9.5 million yen.

2024-04-12 21:38
    Mgmex · Company summary

    Note: Mgmex's official website https://www.mgmexport.com/#/ is currently inaccessible normally.

    MgmexReview Summary
    Founded2018
    Registered Country/RegionUnited States
    RegulationNo regulation
    Market InstrumentsCommodity Futures
    Demo Account/
    Leverage/
    Trading PlatformMgmex Platform APP
    Min Deposit/
    Customer Support24/7 live chat

    Mgmex is a commodity futures trading company which was registered in 2018 in the United States. It is not regulated, and detailed information is limited. This company uses its own trading platform, and it offers 24/7 live chat services. Since it lacks regulation, potential risks cannot be ignored.

    MgmexReview Summary

    Pros and Cons

    Pros Cons
    NoneLack of regulation
    Unavailable website
    Limited information

    Is Mgmex Legit?

    Mgmex is not regulated by the financial services regulatory authority in the United States. Moreover, the current status shows that client transferring is prohibited.

    Is Mgmex Legit?

    What Can I Trade on Mgmex?

    Mgmex is a commodity futures company, and the products offered by it include USOil, XAGUSD, UKOil, NGAS, NG0W, HO0W, RB0W, and G0W.

    What Can I Trade on Mgmex?
    What Can I Trade on Mgmex?

    Trading Platform

    Trading PlatformSupported Available Devices
    Mgmex✔Mobile (iOS, Android)
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