In today’s world, Forex financing is getting popularity day by day. In this fast-moving sector, many new businesses are getting interest from traders. But, there are some scammers too. Unfortunately, MGCCKJ Limited. is a problematic and fraudulent entity that poses a significant risk to traders. In this article, we will provide a comprehensive review of MGCCKJ Limited.
Company Overview:
| Broker Name | MGCCKJ Limited |
| Website | https://mgcckj-fx.com |
| Location | Unknown |
| Regulation | Not regulated |
| Traders’ review | Mostly negative |
Team
This broker does not have any details about their team. Their website is not active now. But, from their previous client’s feedback, we came to know that they don’t have an actual team to perform the trading.
Services and Products
MGCCKJ Limited. provides clients with access to forex, CFDs, and binary options trading. However, the broker does not offer any educational resources, trading signals, or other tools that can help traders improve their trading skills or decision-making processes. This lack of value-added services suggests that the broker is only interested in attracting clients for commission purposes and not for the benefit of their trading.
Trading Platform
MGCCKJ Limited. uses the SpotOption trading platform, which is a widely-used platform in the binary options industry. Unfortunately, the platform has a reputation for being prone to manipulation and unfair trading practices. Furthermore, the platform’s layout and functionality are outdated, making it difficult for traders to navigate and execute trades efficiently.
Licenses and Regulations
License Status
One of the most significant concerns about MGCCKJ Limited is its unlicensed status. The broker does not hold any valid licenses from recognized financial authorities. We tried to find out the license information from the broker’s website and also from other sources too. But, in every place, we find it negative.
Regulation Status
MGCCKJ Limited. is not regulated by any financial regulatory body. As they are situated in the UK, they should have a regulation confirmation from the FCA. But, when we searched in the FCA database, we found no registration.
Why Should Not You Trust An Unlicensed Broker?
Trading with an unlicensed broker is one of the most significant mistakes any trader can make. This is because unlicensed brokers do not follow regulatory standards, which increases the risk of fraud, money laundering, and other fraudulent activities. Additionally, unlicensed brokers may manipulate the trading platform to their advantage, leading to losses for their clients.
Legal Warnings Against MGCCKJ Limited:
Several financial regulators have warned the public against using MGCCKJ Limited. services. In 2019, the New Zealand Financial Markets Authority (FMA) warned the public that the broker was operating without authorization and could pose significant risks to investors.
Client Feedback On MGCCKJ Limited.
About Their Trading
Several clients have reported that the broker’s trading practices are manipulative and fraudulent. There have been instances where traders’ accounts have been wiped out, leaving them with significant losses without clear explanations or justifications from the broker.
About Their Customer Service
Clients have also reported that MGCCKJ Limited’s customer service is inadequate. The broker provides limited support channels, which are often slow to respond or provide inadequate responses to clients’ inquiries.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadviceis a reliable and reputable financial services provider that can help traders who have been scammed by unlicensed or fraudulent brokers. You can submit your case of getting scammed by this broker. We will provide you with a free consultation and service recommendations to help you in recovering the fund.
Final Thought
MGCCKJ Limited. is an unlicensed, unregulated, and fraudulent broker that poses significant risks to investors. It is crucial for traders to conduct thorough research and due diligence before choosing a broker to entrust their funds. Always choose licensed and regulated brokers with a solid online presence and positive client feedback to avoid financial loss.
