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Scam Alert: Withdraws from MFM Securities are Always "Pending"

2023-03-15 Brokersview

Previous Exposure: More Than a Month Has Passed! The Withdrawal from MFM Securities Has NOT been Credited


Since last year, customers have been complaining about irregularities at MFM Securities.

 

On Monday, BrokersView exposed the irregularities of unlicensed broker MFM Securities - the scammer who delayed client withdrawals for up to a month for no reason! After the exposure was released, more victims appeared and told us about their experiences with the scammer.

 

More Victims are Saying...

Last October, a user complained that the company had wiped out his profits and prevented him from getting his principal back, and even banned his account!

 

Since then, we have been receiving complaints from users about this scammer. Based on the information we have received, it now appears that this scammer is using different methods than before.

 

Customers who trade on this platform can deposit, trade, and make profits, and their withdrawal requests can be approved without any problems. But just when the customers put their minds at ease and thought they just had to wait for their withdrawals to be credited, they found out that the money was not going to come no matter how long they waited.

 

One of the complainants also checked the record on MT4 and found that the profit had been deducted as early as the 14th of last month, but the withdrawal is still delayed.


 

Another victim has been waiting for two months!


 

Moreover, this company did not give any reply or explanation to the victims while they were waiting.

 

Regulator Warns

MFM Securities is one of the brands of MFM Securities Limited, a company that also operates another platform called MFM Broker.

 

Watch out! This company has been warned by the Malaysian Securities Commission (SC)!

 

MFM Securities Limited is only registered with the St. Vincent and the Grenadines Financial Services Authority (SVG FSA). However, we repeatedly remind users that SVG FSA is not responsible for regulating financial activities or financial service providers. It is illegal to provide financial services to customers without the authorization of a regulatory body.


 

To ensure the safety of your funds, please do not trade with MFM Securities or MFM Broker.

 

If you have any disputes with brokers, you may submit a complaint here: https://www.brokersview.com/complaint

 

BrokersView helps you contact brokers and expose their inappropriate operations.

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