Caution Investors MISSION FX CLUB – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Review of MISSION FX CLUB: A Possible Scam?
If you are looking for a reliable and trustworthy forex broker, you may want to avoid MISSION FX CLUB. This company claims to offer high-quality trading services and education, but there are many red flags that suggest it is a fraudulent or manipulative scheme. In this review, we will examine the evidence and warn you about the potential risks of dealing with this unauthorised firm.
Overview:
MISSION FX CLUB is a forex broker that operates from Jakarta, Indonesia. It claims to have over 10 years of experience in the forex market and to provide access to over 200 trading instruments, including currencies, commodities, indices and cryptocurrencies. It also claims to offer various educational resources, such as webinars, ebooks, videos and courses, to help traders improve their skills and knowledge.
However, there is no evidence that MISSION FX CLUB is a legitimate or regulated broker. In fact, it is not registered or licensed by any reputable authority, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, or the Commodity Futures Trading Commission (CFTC) in the US. This means that it is operating illegally and without any oversight or protection for its clients.
Regulation and Compliance:
One of the most important factors to consider when choosing a forex broker is whether it is regulated by a reputable authority. This ensures that the broker follows certain rules and standards, such as keeping client funds in segregated accounts, providing fair and transparent pricing, maintaining adequate capital reserves, and offering dispute resolution mechanisms. Regulated brokers also have to comply with anti-money laundering (AML) and know your customer (KYC) policies, which prevent fraud and identity theft.
Unfortunately, MISSION FX CLUB does not meet any of these criteria. It does not have any license or registration number on its website, nor does it disclose any information about its legal entity, ownership or management. It also does not provide any details about its trading conditions, such as spreads, commissions, leverage, margin requirements or execution policies. It only states that it offers “competitive” and “flexible” terms, which are vague and meaningless.
Moreover, MISSION FX CLUB has been blacklisted by several regulators around the world, such as the FCA in the UK , the Securities Commission Malaysia (SC) , and the Financial Markets Authority (FMA) in New Zealand . These regulators have issued warnings against this company for offering financial services without authorisation and for using false or misleading information to solicit customers. They have also advised investors to avoid dealing with this company and to report any suspicious activities to them.
Customer Reviews:
Another way to assess the credibility and reputation of a forex broker is to look at customer reviews and feedback. This can give you an insight into the quality of the products and services offered by the broker, as well as the level of customer satisfaction and support. You can also learn from other traders’ experiences and avoid potential pitfalls or scams.
However, when it comes to MISSION FX CLUB, there are very few customer reviews available online. This is not surprising, considering that this company is relatively new and unknown in the forex industry. The few reviews that we could find were mostly negative and complained about various issues, such as poor customer service, delayed withdrawals, hidden fees, false promises and account manipulation.
For example, one reviewer on Trustpilot wrote:
“I opened an account with them last month and deposited $500. They promised me a 50% bonus and a personal account manager who would guide me through the trading process. However, after I made some profits, they refused to let me withdraw my money. They said I had to trade more volume to meet some conditions that they never mentioned before. They also stopped answering my calls and emails. I think they are scammers who just want to take your money.”
Another reviewer on Forex Peace Army wrote:
“They are a bunch of liars who will say anything to get you to deposit money with them. They claim to have a license from Indonesia but they don’t. They also claim to have offices in London and Dubai but they don’t. They use fake names and addresses to deceive people. They also manipulate the prices on their platform to make you lose money. They are not a real broker but a scam.”
Products and Services:
As mentioned earlier, MISSION FX CLUB claims to offer access to over 200 trading instruments, including currencies, commodities,
indices and cryptocurrencies. However, there is no way to verify this claim or to test their trading platform before opening an account with them. They do not offer a demo account or a free trial period for their services. They only provide a screenshot of their platform on their website, which looks outdated and unprofessional.
Furthermore, there is no information about the types of accounts or platforms that they offer. They do not specify whether they use a market maker or an ECN model, or whether they support MetaTrader 4, MetaTrader 5 or any other third-party software. They also do not mention any features or tools that they provide, such as charting, indicators, signals, news, analysis or education. They only state that they offer “advanced” and “innovative” solutions, which are again vague and meaningless.
Location:
MISSION FX CLUB claims to be based in Jakarta, Indonesia, and to have offices in London, UK and Dubai, UAE. However, there is no evidence that these locations are real or that they have any physical presence there. They do not provide any postal addresses or phone numbers for these offices, only email addresses and a web form. They also do not have any social media accounts or profiles that could verify their identity or location.
Moreover, as mentioned earlier, MISSION FX CLUB has been blacklisted by several regulators in different countries, such as the UK, Malaysia and New Zealand. This means that they are not authorised to operate in these jurisdictions and that they are violating the laws and regulations of these countries. This also exposes their customers to legal risks and penalties if they deal with this company.
Customer Service:
One of the most important aspects of a forex broker is the quality and availability of its customer service. A good broker should provide fast and reliable support to its clients, especially when it comes to technical issues, account queries or withdrawal requests. A good broker should also have multiple channels of communication, such as phone, email, live chat or social media.
However, MISSION FX CLUB fails to meet these standards. It does not have a phone number or a live chat option on its website. It only has an email address and a web form, which are not very responsive or helpful. Many customers have complained about the lack of customer service and the difficulty of reaching anyone from this company. Some customers have also reported that their emails were ignored or deleted by this company.
Conclusion:
Based on our research and analysis, we conclude that MISSION FX CLUB is a possible scam and that you should avoid dealing with this company at all costs. It has many red flags that indicate that it is a fraudulent or manipulative scheme, such as:
– It is not regulated by any reputable authority
– It has been blacklisted by several regulators
– It does not provide any information about its trading conditions
– It does not offer a demo account or a free trial period
– It uses false or misleading information to solicit customers
– It has very few customer reviews and most of them are negative
– It does not have a phone number or a live chat option
– It does not have any social media accounts or profiles
Therefore, we advise you to stay away from this company and to look for a more reliable and trustworthy forex broker instead. There are many reputable and regulated brokers in the market that offer better products and services than MISSION FX CLUB. You can check out our list of recommended brokers here .
