Stay Safe from Scammers! Avoid MGS Financial – The Deceptive Crypto Trading Platform
MGS Financial (Medium Global Strategy) is a scam crypto trading platform that claims to be operating from a prestigious office in Australia but is in fact a fake service.
The MGS Website is set up to appear as if it’s a traditional trading platform and claims to offer investors access to the MetaTrader 5 (MT5) trading platform.
It purports to offer cryptocurrency trading alongside Forex, stocks, commodities, and CFD.
But, on delving a little deeper, it’s clear that MGS Financial isn’t a genuine platform and is part of a scam to convince people to part with their money.
The person who contacted Chargebackpros about MGS Financial said they’d been encouraged to invest in the platform by someone they’d met online.
But after seeing their profits accumulate in their account at first, they soon found they were blocked from accessing their funds.
The scammers then demanded that they pay a fee to release them, which they did, but no money was forthcoming, only further demands for cash.
The victim broke off contact with the scammers at this point, but unfortunately, they’d already deposited a substantial sum of money with MGS Financial.
What makes MGS Financial a scam site?
Once you know what to look for you release that there’s a lot wrong with this platform.
Some of the tell-tale signs are:
- Access to MT5 involves a highly suspicious direct download, whereas the genuine MetaTrader platform is supported in official app stores.
- The site was set up very recently yet claims to have a large client base around the globe and even states that it’s ‘one of the biggest online brokers in the world’ on the website.
- There are no reviews of the MGS Financial platform online, another red flag, especially given the claims above.
- The address in Australia that the platform claims to be based in is fraudulent. No company of this name resides there.
- The only way of contacting anyone at MGS Finance is through a single email address.
- The platform does not have any social media profiles or other official links.
- MGS Financial has a Domain Authority (DA) score of 1, meaning very little inbound traffic or external links. This is highly unlikely given the claims above.
These are just a few of the problems with this platform that make it clear it’s a scam.
Resources to help if you’ve been scammed by MGS Financial
Reporting crypto scams is important to help the authorities track down the fraudsters, but the likelihood of getting your money back is slim.
There are some resources below that you may find useful if you’ve been scammed by MGS Financial.
Also, there are private companies that might be able to help which I’ve written about here.