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Money Mall

United States|5-10 years|
Suspicious Regulatory License|MT4 Full License|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

http://www.moneymallgroup.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
MoneyMall-Demo MT4
Server Location United States

Contact

+1 347 4671080
manager@MoneyMallforex.com
http://www.moneymallgroup.com/en/

Licenses

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

Single Core

1G

40G

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Contact number

English

+1 347 4671080

Other ways of contact

Broker Information

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Company Name

Money Mall

Abbreviation

Money Mall

Platform registered country and region

United States

Company website

Pyramid scheme complaint

Expose

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This platform is a Ponzi Scheme. Please stay away! 4
Previous Detection : 2024-07-12
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • United StatesNFA (license number: 0506478) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0506478)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

Money Mall · WikiFX Survey

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Expose

Money Mall · Company Summary

Note: Money Malls official site - http://www.moneymallgroup.com/en/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Money Mall Review Summary
Registered Country/Region United States
Regulation NFA (Unauthorized)
Market Instruments N/A
Demo Account Unavailable
Leverage N/A
EUR/ USD Spreads N/A
Trading Platforms MT4
Minimum Deposit N/A
Customer Support Phone, email

What is Money Mall?

Money Mall, a broker that used to offer trading services to its clients, claims to provide a range of trading platforms, including the MT4 platform. However, recent reports question the legitimacy and credibility of Money Mall as a broker. According to WikiFX's Scam Brokers list, Money Mall has been classified as an illegal broker with expired licenses and unauthorized NFA license (No. 0506478).

Additionally, there have been reports of clients experiencing difficulties in withdrawing their funds, leading to suspicions of scams. It is worth noting that the official website of Money Mall is currently inaccessible.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
  • MT4 supported
  • Website is unavailable
  • NFA (Unauthorized)
  • Scam broker
  • Reports of scams and unable to withdraw

Money Mall Alternative Brokers

There are many alternative brokers to Money Mall depending on the specific needs and preferences of the trader. Some popular options include:

  • Eightcap – Atrusted broker that offers competitive trading conditions, including tight spreads, flexible account options, and a user-friendly trading platform, making it a top choice for both beginner and experienced traders looking for a seamless trading experience.

  • TeraFX - A reputable forex broker that offers a diverse range of trading solutions, backed by advanced trading tools and exceptional customer support.

  • GVD Markets - A platform that stands out as a reputable financial institution, abiding by the regulations set forth by CySEC and FSA.

Is Money Mall Safe or Scam?

This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list.

The platform is a Ponzi Scheme, which refers to the use of “principle of value multiplication”. In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground.

Besides, the license of NFA (No. 0506478) is unauthorized. Therefore, Money Mall currently has no valid regulation, which means that there is no government or financial authority oversighting their operations.

unauthorized NFA license

Whats more, the official website of Money Mall is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.

If you are considering investing with Money Mall, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.

Trading Platforms

Money Mall offers a range of trading platforms to its clients, including the popular and widely-used MetaTrader 4 (MT4) platform. MT4 is a powerful and user-friendly platform that provides traders with advanced tools and features to execute trades in the financial markets.

Through MT4, Money Mall clients can access various financial instruments, including currency pairs, commodities, indices, and cryptocurrencies. The platform offers real-time price quotes, allowing traders to analyze market movements and make informed trading decisions.

MT4

User Exposure on WikiFX

On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Customer Service

Customers can visit their office or get in touch with customer service line using the information provided below:

Telephone: +1 347 4671080

Email: manager@MoneyMallforex.com

cs@moneymallfs.com

Conclusion

In conclusion, the regulatory status of Money Mall is questionable and concerning. Reports indicate that Money Mall's licenses have expired, including the unauthorized NFA license. The broker has also been listed in WikiFX's Scam Brokers list, raising doubts about its legitimacy and trustworthiness. Furthermore, there have been reports of clients facing difficulties in withdrawing their funds, implying potential fraudulent activities.

Considering these factors, it is strongly recommended to exercise caution and seek alternative, regulated brokers for a secure and reliable trading experience.

Frequently Asked Questions (FAQs)

Q 1: Is Money Mall regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: How can I contact the customer support team at Money Mall?
A 2: You can contact via phone, +1 347 4671080 and email, manager@MoneyMallforex.com and cs@moneymallfs.com.
Q 3: Does Money Mall offer demo accounts?
A 3: No.
Q 4: Does Money Mall offer the industry leading MT4 & MT5?
A 4: Yes. It supports MT4.
Q 5: Is Money Mall a good broker for beginners?
A 5: No. It has been verified to be illegal and all of its licenses have expired, and it has been listed in WikiFX's Scam Bokers list. Please be aware of the risk!

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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ʚɞ
more than one year
The service of this company is simply not trustworthy! I used to deposit my money into an account with this company, but when I tried to withdraw the funds, they never gave me a response. Soon after, I found out that the company was confirmed to be illegal and was a classic Ponzi scheme. I now regret that I didn't do enough research and now I can't get my money back. Please be careful not to trust companies that look "too good to be fake" and don't fall for it.
2023-03-27 17:20
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