de | cn | ru

Brokers News

Missing: Belize-Based Broker MFFX Disappears from the Face of Earth

Jun 07 2013
By
Forexbrokerz.com
A while ago we reported about the relatively small broker MFFX kicking MT4 to the curb and replacing it with Spotware's cTrader ECN platform. With the hot topic of Metatrader being gradually replaced by alternative platforms, I went back to MFFX's site to see if there are any developments there – only to find out that the site was down. 
 
I figured that it must be a temporary downtime, and considered a problem my internet provider's side as well – so I came back to check the site on the next day. It was still down, as it is today – third day in a row. 
 
I dug up a cached version of the page and called the numbers listed there but nobody picked up. The emails I sent are still unanswered. 
 
At that point, you don't need to be the smartest tool in the box to ask “What the heck happened to MFFX?”. 
 
The more I examine the situation, the more weird things I come across. For starters, the broker is supposed to be registered in Belize, and supposedly holds a license from the International Financial Services Commission (IFSC) there. I went through IFSC's entire registry, however there was no company listed there under MFFX or MF Financial Ltd, the company behind the MFFX broker. 
 
The numbers listed for contact on the (cached) webpage of the broker are in the UK, and so is the correspondence email – therefore I did the next logical think: to check the FCA's registry. No sign of MFFX there either, however the search bar of the agency returned the following result: 
 
 
When you click on the link, however, there is no alert on the site – most likely the warning is old and therefore doesn't show up any more (these alerts are published by the FCA every time it detects that an unauthorized company tries to recruit British customers). 
 
The broker's blog was updated last – at the beginning of January this year. Its Facebook page has been silent since June 2012, and the last tweet MFFX published is dated December 2012.
 
Let's recap what we know up to here: MFFX may or may not be based in Belize or the United Kingdom; its site is not accessible; and the broker has no active license from IFSC Belize or FCA UK, and it has been “silent” for over 6 months on the social media front.
 
What is even more surprising is the fact that there is no mention of the broker on forex forums or message boards – whenever a brokerage goes bankrupt, its usually its clients that find out first and then spread the news online – but this is not the case with MFFX. 
 
Obviously, at this point we can't make any educated guesses on whether MFFX is experiencing technical difficulties, or it has gone broker and shut down operations – but we will be sure to report as soon as we have any news. 
 
TAGS: MFFX  forex broker  forex trading  forex  ECN  cTrader  MT4  trading platform  Belize  FCA UK 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Hong Kong SFC MarketSpeed FX,
Trading Station
$1 Review

More Forex Brokers News

FC Barcelona and FBS Sign New Global Partnership Agreement

Jan 17 2020 13:05:55

Broker specializing in online trading becomes club’s Official Trading Partner for four years, through 30 June 2024. Read more

FP Markets adds Autochartist to its list of analytical tools

Jan 13 2020 17:56:25

FP Markets, one of the leading brokers in Australia and a trusted global Forex and CFD broker, has added yet another instrument to its long list of trading tools  - the Autochartist - an online technical analysis tool which scans the market to provide detailed breakdowns across a wide range of ... Read more

FBS clients grow to over 14 million in 2019

Jan 07 2020 18:15:13

FBS, one of the leading players in the forex industry, published its annual report for 2019, celebrating its 10th birthday and 14 millionth client in some 190 countries around the globe. Read more

#FBS2020: FBS Gives Away Lucky Gift Boxes In A New Year Promo

Dec 09 2019 14:36:59

As many companies out there, FBS broker finishes off its year with a New Year promotion for its clients. At the end of 2019, they are offered to create a fancy Thank You e-card for their loved ones and get a gift box full of nice surprises. Read more

Trip For Pip: FBS To Launch A Quest Game For A Trip To London, Tokyo, Or Dubai

Oct 29 2019 14:09:54

FBS broker starts its new marketing campaign, and it has already attracted many eyeballs on social media. The promotion is called “Trip for Pip,” and it is very engaging for several reasons:    a) it’s playable;  b) it features a dream trip for two as the main prize. Read more

HYCM tops the list of brokers with highest percentage of winning clients

Oct 23 2019 12:12:59

The importance of choosing a reliable broker is paramount to trading. Most traders have given a serious thought to the security of their investments and these concerns are increasingly common in this highly competitive market. Read more

FXCM expands its crypto offering with CryptoMajor baskets

Oct 14 2019 14:49:01

  Major forex broker FXCM Group enhances its CFD offering with the launch of CryptoMajor- cryptocurrency baskets, which will allow its clients to trade in to multiple digital assets in one go. Read more

FXTM Launches 30% Welcome Bonus

Aug 06 2019 13:38:53

  As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!   This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

XM parent actively prepares for the launch of its US brand Trading.com

Jul 03 2019 14:19:28

  Trading Point Group, the owner and operator of the XM brand, actively prepares for the future launch of its US brand Trading.com. Read more

FBS Invites 20 Best Partners To a VIP Party

Jul 02 2019 15:04:24

Partner parties is a great way to get to know company’s local promoters and celebrate loyalty, motivation, and cooperation. In 2019, FBS broker launches the FBS Stars contest with a round trip flight to Russia’s second largest city and a VIP party invitation as a prize. Read more

de | cn | ru