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MGT STOCK

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Operating status: SCAM

Website: https://mgt-333.com/en.html

Broker violations and abnormal records
  • 2023-08-24 The HK SFC issues a warning against MGT STOCK

    On August 25, 2023, the Hong Kong Securities and Futures Commission (SFC) issues a warning against MGT STOCK, identifying its website https://mgt-333.com/zh/community.html as a suspicious one and stating that the website is not associated with Valuable Capital Limited, which is an SFC-licensed corporation. https://www.sfc.hk/en/alert-list/2937

    On August 25, 2023, the Hong Kong Securities and Futures Commission (SFC) issues a warning against MGT STOCK, identifying its website https://mgt-333.com/zh/community.html as a suspicious one and stating that the website is not associated with Valuable Capital Limited, which is an SFC-licensed corporation. https://www.sfc.hk/en/alert-list/2937
  • 2023-08-28 BrokersView has reviewed that MGT STOCK is an unregulated broker

    MGT STOCK claims to be operated by Longsheng Financial Limited with offices in Hong Kong and the US. It showcases four licenses on its website as the evidence of its legitimacy. However, two of them are incoporation certificates. Shell incorporation in any jurisdiction is meaningless. 


    The MSB license from the US Financial Crimes Enforcement Network (FinCEN) also cannot serve as the support for legitimacy, as the FinCEN has stated that the MSB registration is not a certificate of legitimacy, or endorsement of the business by any government agency. Furthermore, there is no indication that MGT STOCK has been registered as a member of the National Futures Association (NFA).


    MGT STOCK has provided a license from the Hong Kong Securities and Futures Commission (SFC), a license turns out to be fake. The license has a Central entity no. AUL711, which actually belongs to Valuable Capital Limited, not the so-called "Longsheng Financial Limited". The warning issued by the SFC against MGT STOCK proves that and says MGT STOCK is not associated with the licensed entity.


    In essence, MGT STOCK is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. 


    MGT STOCK is unequivocally a scam.

    MGT STOCK claims to be operated by Longsheng Financial Limited with offices in Hong Kong and the US. It showcases four licenses on its website as the evidence of its legitimacy. However, two of them are incoporation certificates. Shell incorporation in any jurisdiction is meaningless. The MSB license from the US Financial Crimes Enforcement Network (FinCEN) also cannot serve as the support for legitimacy, as the FinCEN has stated that the MSB registration is not a certificate of legitimacy, or endorsement of the business by any government agency. Furthermore, there is no indication that MGT STOCK has been registered as a member of the National Futures Association (NFA).MGT STOCK has provided a license from the Hong Kong Securities and Futures Commission (SFC), a license turns out to be fake. The license has a Central entity no. AUL711, which actually belongs to Valuable Capital Limited, not the so-called "Longsheng Financial Limited". The warning issued by the SFC against MGT STOCK proves that and says MGT STOCK is not associated with the licensed entity.In essence, MGT STOCK is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. MGT STOCK is unequivocally a scam.

Related Complaints

Q&A

Which currencies can I use in MGT STOCK?

Victor Baker
Bulgaria
2023-09-27
ANSWER MGT STOCK is a scam that we strongly advise you to avoid. You should always do careful research before choosing a broker, and make sure it has proper regulatory compliance. Therefore, no matter how attractive the offers are, you should not trust MGT STOCK with your money.MGT STOCK claims to be run by Longsheng Financial Limited, which has offices in Hong Kong and the US. It displays four licenses on its website to prove its legitimacy. However, two of them are just incorporation certificates, which mean nothing in any jurisdiction. The MSB license from the US FinCEN is also not a proof of legitimacy, as the FinCEN itself has stated that it does not endorse or certify any business by registering it as an MSB. Moreover, there is no evidence that MGT STOCK is a member of the National Futures Association (NFA), which is required for US brokers.MGT STOCK also shows a license from the Hong Kong Securities and Futures Commission (SFC), but this license is fake. The license has a Central entity no. AUL711, which actually belongs to another company called Valuable Capital Limited. The SFC has issued a warning against MGT STOCK and confirmed that it is not associated with the licensed entity.In short, MGT STOCK is an unregulated broker that has no legal authority to operate. Investing with this broker is very risky, as there are no safeguards for your funds and personal information. To avoid costly mistakes and minimize the risks of financial losses and identity theft, it is advisable to choose a fully regulated broker instead.
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