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Main Group FX Review 2025

Updated:

Brief Look at Main Group FX

Main Group FX is a scam broker that offers trading in various financial instruments, including Forex, stock indices, commodities, precious metals, and more.
However, its Australian Securities and Investments Commission (ASIC) license was revoked on September 21, 2023, rendering it unregulated and unable to provide brokerage services legally.
The broker's website domain was last updated on March 29, 2023, but its exact registration date is undisclosed. MGF CAPITAL PTY LTD, the alleged parent company, has sold AR licenses to over 20 other companies, including Main Group FX Pty Ltd. These companies are not directly affiliated with MGF CAPITAL PTY LTD and have been implicated in deceptive activities.
It is strongly advised to avoid investing with Main Group FX Pty Ltd. The broker has been identified as a scam by various online sources, including members of the crypto community.

User Satisfaction i

Score:
2/10

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rovi08
42 weeks ago

I came into trading from professional poker, thinking my skills in analysis and risk management would work well in financial markets. Main Group FX seemed like a great choice with a nice website and promises of personalized service. But things turned out differently. My aggressive trading style, which was successful in poker, led to constant losses here. I blamed myself, thinking I was just having bad luck, and kept increasing my interest to try to recover. Then I started seeing the platform freezing and spreads getting wider. The Main Group FX manager pushed me to pay for their training to "reduce risks." In the end, I lost my entire deposit in a month. The company has major problems with withdrawing funds and platform performance. This experience taught me a hard lesson. Don’t fall for their trap too.

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raselbd001
42 weeks ago

I have been trading on a weekly timeframe for 5 years and recently tried Main Group FX due to their advertised low swaps and no interest rollover fees. The first two months were relatively smooth, and I even managed to close a few successful trades on AUD/USD and EUR/GBP. However, I soon noticed significant increases in swap rates, particularly when I held large positions. When I inquired about these changes, I received a vague response about "market conditions." Additionally, their platform consistently displayed incorrect prices at the opening of weekly candles, which threw off all my calculations for entry levels and stop-losses. This became especially problematic during the publication of major companies' quarterly reports.The prices on currency pairs related to those economies seemed to be manipulated in favor of the broker. I tried to close several large interests profitably but encountered significant execution delays and slippage. Attempts to withdraw the remaining funds natura

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centdollars
44 weeks ago

My strategy involves making quick trades right after major economic reports like NFP, interest rate decisions, and PMI indices. The first month with Main Group FX went pretty well, but then things went bad fast. Their news feed and economic calendar were usually 1-2 minutes behind real-time events. Plus, when I tried to enter the market right after important data releases, the platform either crashed or had huge slippages. For instance, during the U.S. inflation report, my EUR/USD buy order was filled 70 pips higher than the price I saw. When I reached out to support with a detailed description of the issue, they just brushed it off as high volatility. What a joke! The worst part was when, after a successful trade on big news, my account was suddenly emptied and frozen, with accusations of insider trading! I spent three weeks trying to prove I was innocent and to get my money back. I lost $20,000 and now warn everyone to avoid these dishonest scammers.

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datasafe2050
48 weeks ago

As an engineer, I approached trading as a hobby, but my experience with Main Group FX turned into a nightmare. Initially, the platform was user-friendly, and funding my account was straightforward. However, when I attempted to withdraw my profits, the process became a bureaucratic nightmare. They demanded a series of unexpected documents, including [list of documents]. Then, without any prior warning, they accused me of violating their trading policies and froze my account. Despite repeated promises from technical support, I received no assistance in resolving the issue. My capital was lost, and my earnings became a distant memory. This experience has left me not only financially devastated but also deeply disillusioned with the industry.

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chance
1 year ago

Order execution was terrible, especially during major economic reports. I frequently encountered re-quotes and price slippage, always working against me. My scalping on EUR/USD turned into a total nightmare. When I tried switching to algorithmic trading, I discovered that half of my trading bots had failed and stopped responding. Additionally, withdrawing funds was a significant challenge. The process involved endless verification steps, demands for additional documentation, and withdrawal requests that remained in limbo for weeks. Ultimately, I had to threaten to contact the regulatory authority to secure my funds, but I never received them. I would strongly advise against using this platform.

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centdollas
1 year ago

I decided to try Main Group FX because of their tempting bonus offers and the supposedly good swap rates for carry trades. However, it turned out to be a scam. The bonus is nearly impossible to earn due to their strict trading volume rules. And the swaps on popular carry trade pairs like AUD/JPY were half of what they advertised. When I opened a large interest in oil using the highest leverage available, there was a big gap, and my account was wiped out. Even though they loudly claim to have "negative balance protection" on their website, I was still told I needed to pay off the debt. Their technical support is awful. It takes them days to answer important questions but they are quick to call with offers to add more money to your account. Main Group FX is a financial black hole and a total scam.

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dua110
1 year ago

Colleagues, I want to warn you about Main Group FX. I was drawn in by their promises of perfect conditions for scalpers and day traders. But it turned out to be a big disappointment. The so-called tight spreads were a lie. They widened to extreme levels with even the smallest market moves. Order execution was terrible. My EUR/USD volatility breakout strategy, which had worked well for years, turned into a losing strategy here because of constant re-quotes. When I reached out to support, they offered the unhelpful advice to "trade longer-term." To make matters worse, their risk management system changed margin requirements without any notice, causing many of my positions to be stopped.

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

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