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MWNG -

Score

1.47 /10
Danger

MWNG

China

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

http://mwngmarket.com/mwng_en/index.php

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Comparison

Quantity 35

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.69

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

MWNG COMPANY LIMITED

Company Abbreviation

MWNG

Platform registered country and region

China

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-11-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 31 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

35 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Unable to withdraw

This is a scam. Do not be cheated.

2021-05-08 17:46
Unable to Withdraw

Unable to withdraw

Fraud company. Don’t allow withdrawals with various reasons...

2021-05-27 16:49
Unable to Withdraw

Unable to withdraw

MWNG is a fraud broker. I've applied for withdrawal many times but they asked me to pay a 20% tax and 1223$. They should be judged by the law to avoid more people being cheated

2021-05-16 13:44
Scam

MWNG Market Scam site - Forced to pay upfront 30% taxes in order to withdraw money

I am a recent fraud victim of Forex Scam via Facebook. mwngmarket.com was the site I was scammed from. You are unable to withdraw money. They hold your money hostage until you pay a 30% tax for your profit for a 1042S form (which doesn't apply if you are a US citizen since it's foreign income). You can't even withdraw your original principal!!! It seems like a legit broker on MT 4 until you try to withdraw any funds. Please spread the work about other fake Forex Brokers via MT 4 and MT 5 platforms. international-forex.com and hs.furionglobal.com are other scam forex sites. I've already filled out forms for FBI, FTC, SEC, and SDNY, but no response yet.

2021-09-16 21:07
Unable to Withdraw

MWNG doesn't allow withdrawals. Fraud broker

Ask me to pay a margin deposit of 20%

2021-06-28 18:28
Unable to Withdraw

Unable to withdraw in MWNG

They said I had to pay $1,451 to withdraw my own money. Is it real or just a scam?

2021-05-13 16:22
Resolved

Pay 1 times fee 2,888 usd

I trade with MWNG 2 months ago. Yesterday I deposit 500 USD to my accounts and the admin tell me it’s complete but this money does not appear in my account and today 2.6.2021 Admin told me to pay about the 1-time fee of 2,888 USD if I do not pay they will freeze my account. I don’t know it real or a scam.

2021-06-02 17:08
Unable to Withdraw

Unable to withdraw

This platform did not allow withdrawals, and began to say that withdrawals need to pay a withdrawal channel fee, and said that after payment, you can withdraw funds, but then they said that the country’s personal income tax was stipulated. After payment, the platform suddenly disappeared, and an email was sent saying it took a few days for the system to be upgraded and maintained. After three days, the customer service platform server disappeared. Today, another email was sent suddenly, and the customer service was contacted again. I asked him when the withdrawal can be received, and now he said that MT4 has terminated the cooperation, and the withdrawal needs to be processed for VIP before the withdrawal can be made, if not, you need to queue up

2021-07-02 16:26
Resolved

Something happened when I was going to withdra wfunds. I have to pay personal income taxes which is 20% of the withdrawal amount

This fraud broker is without any license

2021-06-14 16:11
Unable to Withdraw

MWNG is real scam

I've traded here for over a month and then I was asked to pay a subscription of $2,888 within 24 hours which they never told me before.

2021-06-16 13:42
Unable to Withdraw

Can’t withdraw and freeze my account

I m trader with MWNG company forex around 1 month and I want to withdraw my money so that I inform admin to my decide and then they inform I m not followed their platform VIP1 then they let me invest more than 16888 USD and limited time in 2 weeks They never inform customers before and when customer got bonus and want to withdraw they just inform by e mail and inform to freeze my account if I can’t invest money more on time that they limit And now they freeze my account and let me pay fines 30% of total amount in my account.

2021-05-29 23:46
Unable to Withdraw

Please be aware of this Scammers in UK and across the world, Don't be fooled

Please be aware of these scammers and don't be fooled, I have invested more than 57000 dollars in this company, and I made more than 150000, Then they started to make me lose some trades which made my loss equal to 50k, then I decided to withdraw my 100k.I have requested a withdrawal but they kept rejecting my request and kept asking me to deposit another 100k in order to withdraw.I refused to deposit again, and they freeze my account and cleared all the money in my wallet. They have blocked devices IP so I can not reach out to them, I could access their website after hiding my IP address using a VPN but still they kept delaying responding and again asked me to deposit more moneyThe company runs in the UK by four Chinese guys pretending they are businessmen from Hong Kong. The website is fake as they hiding their IP address and using google IP address and some other random fake VPN addresses.They are using social media account to scam people. I have added their pictures too for you guys to be aware.Please be aware of these scammers and dont be fooled,

2021-04-11 07:27
Unable to Withdraw

Unable to withdraw. The fraud company will come to no good end!

This is a company which cheats people of money

2021-05-11 04:57
Unable to Withdraw

Unable to withdraw

Like others, I cannot withdraw funds from MWNG. Has anyone succeded doing so? Have you been asked to pay a 20% tax? Is this legal or is it a scam?

2021-04-27 04:27
Others

Cheated by Mwng and Varot Forex

In Thailand, a lady claimed to be a business woman. I talked for about three days and said that there is a way to make money from MT4. MWNG can make a profit every time. I can withdraw money within 2 hours, which is about twice as much as he claimed that his uncle was stolen. The Bank of America manager knew a lot of internal information and told me the next day to switch to MT5 and transfer the balance from MWNG. Everyone went to Varot Forex. After that, I couldn't withdraw my money. I asked to withdraw approximately US$8,100, but they told me to pay the tax of US$4,017 first, and they used a fake website and license fx919.com.

2021-05-22 15:26
Unable to Withdraw

MWNG IS 100% SCAM!!! DO NOT SEND ANY MONEY!!!

5. They also allow you to borrow money from them for margin call if you are qualified (pretend they only offer this to VIPs). They request you pay 5% of service charge within 24 hours by showing them wire transfer from your own bank account (cannot be sent by someone else's account and do not accept cryptocurrency) . Within 7 days, they demand you to pay back the money you borrowed, otherwise your account will be frozen. To reactivate your account, you need to pay 10% of the account balance as penalty. 6. If you try to withdraw money for a second time, this is the drama. They claimed they were required by the US finance department to collect taxes for investment earnings. No matter what amount you want to withdraw, you are required to pay a service charge of 10% of account balance. For example, if you have $300k and you want to withdraw $100K, you are required to pay $30K ( $300K *10%). The money must be sent by your bank account directly again cannot be from someone else's account or cryptocurrency. The service charge is only for them to process a statement called Proof of Source of Assets, which they claim you will need for filing tax return. TO BE CONT.

2021-06-09 07:46
    MWNG · Company summary

    Note: Since MWNGs official site (http://mwngmarket.com/mwng_en/index.php) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

    General Information & Regulation

    MWNG, a trading name of MWNG COMPANY LIMITED, is allegedly a suspicious regulated forex and CFD broker registered in China that claims to provide its clients with some tradable assets with leverage up to 1:500 and low spreads from 0.0 pips on the worlds best MetaTrader4 trading platform.

    Market Instruments

    MWNG advertises that it mainly offers forex and various CFDs trading.

    Leverage

    A leverage ratio of up to 1:500 is offered by MWNG, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

    Spreads

    MWNG claims that the spread starts from 0.0 pips.

    Trading Platform Available

    The platform available for trading at MWNG is the industry-standard MetaTrader4 trading platform. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

    Deposit & Withdrawal

    The minimum initial deposit requirement provided by MWNG is said to be $100. However, the broker directly reveal any specific information about its acceptable deposit and withdrawal payment methods.

    Customer Support

    MWNG‘s customer support can only be reached by email: mwngmarket@gmail.com. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most brokers offer.

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