M.Success FX

It took only a few seconds for M.Success FX to reveal itself as the complete scam it is. Read on to find out its many flaws.

M.Success FX (MSFX), or Cougar Finance, or American Lion International Holdings LTD, is a complete mess. The alleged broker on multiple occasions claims to be headquartered in the USA, while also being regulated by the FCA or the “British Conduct Authority”.

For a broker to operate in the US it must be a member of the National Futures Association (NFA) and has to be registered as a Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer (RFED) with the Commodity Futures Trading Commission (CFTC). These two license issuers are the most severe in the world and require a net capital of $20 million minimum for brokers to be regulated; the main reason only a handful of brokers remain in operations in the USA. We can safely say that MSFX has no place in the US as a Forex broker.

What’s more the FCA website bore the following statement for M. Success FX:

The FCA clearly has had its eye on this one, and as you can clearly see has exposed it as the fraud it is. MSFX is UNREGULATED, and as such is a risk to all those that invest in it.

Traders should invest in brokers that are actually regulated by the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirement for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

It’s now a good time to mention that the website of MSFX feels like it’s unfinished. The structure of the texts lacks symmetry, and there isn’t enough information to guide us through it.

There was no leverage value anywhere. The fact that we could not register did not help; the Members Login page is nothing more than the background image of the website. There is nothing more to it, and it seems that no one can login nor register, not that we recommend it if it were possible.

The spread is also unavailable. Without a registration we could not open the trading platform.

Trading instruments are said to be Spot Metals, Forex Pairs, Indexes, and CFD on Stocks. This info was taken from the website.

The website can be translated into English, Chinese and Japanese.

M.SUCCESS FX LOGIN

The broker advertises an MT5 platform throughout its site, but miserably fails to deliver. Not only is there no way to registered, but when we downloaded the MT5 it turned out to be metatrader offered at the official MT website. This version is downloaded by novice users to try and get familiarized by the terminal before picking a legit broker and trading with real money.

This basically means that MSFX has no platform to offer.

M.SUCCESS FX MINIMUM DEPOSIT

The initial deposit is $1000, if we are to trust the website.

Aside from that there is no information on withdrawals. On top of not being able to register, the broker has absolutely no legal documents from which we can draw deposit details.

Due to he broker’s lack of any regulation and its overall demeanor, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

Furthermore, for safekeeping your money NEVER share your credit card number and CVV code with a salesperson. All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, often times for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

M. SUCCESS FX WITHDRAWAL TIME AND FEES

Whereas MSFX gave us at least a minimum deposit amount, when it comes to withdrawal information the website is completely barren of any details. It’s so bad that even the word “withdraw” is not mentioned even once!

ADDITIONAL FEES AND TAXES

We want to remind readers that many offshore brokers have no intentions of paying you back. Any effort to withdrawal your money will be unsuccessful. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advise you against withdrawing, or they will ask more deposits needed if one wished to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.

ACCOUNT VERIFICATION

We strictly advise against giving away an ID and proof address to unregulated brokers: they can be literally anyone with enough time and skill to mask themselves as a broker. Usually, these individuals use the anti-money laundering legislation as front for when traders start to get suspicious. Once this suspicion is confirmed and you file for a charge back, they will use your details against you case.

We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.

HOW TO RECOVER

The only way to recover is by filling for a charge back, and hoping it’s not too late.

Any details you might have shared with the broker, most notably the CVV code, are sure to be used against you, thus you should swiftly cancel your credit card ASAP.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won't ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

We are not even sure if we can even call MSFX a scam broker. There is unquestionably nothing here to even remotely grab your attention.