Score
Saint Vincent and the Grenadines
|
5-10 years
| https://www.msgtrader.com/en/
Website
Rating Index
Licenses Saint Vincent and the GrenadinesMSG's Australia Office Address Does Not Exist
It has been proved by the on-the-site investigation of the surveyor that the actual address of the Australia licensed broker MSG is inconsistent with that declared by the supervision agency. Although it holds two Common Financial Licenses (No. 489437)&(No. 0507345) and a Business Registration License (No. 25040 IBC 2018) issued by ASIC, NFA and FSA respectively, the supervision of FSA over the bro
AustraliaMSG's Australia Office Address Does Not Exist
It has been proved by the on-the-site investigation of the surveyor that the actual address of the Australia licensed broker MSG is inconsistent with that declared by the supervision agency. Although it holds two Common Financial Licenses (No. 489437)&(No. 0507345) and a Business Registration License (No. 25040 IBC 2018) issued by ASIC, NFA and FSA respectively, the supervision of FSA over the bro
Australia
msgtrader.com
msgforex.comGeneral Information & Regulation
MASTER SELECT GROUP (MSG, for short) is an online broker that provides online trading services to investors worldwide. MSG currently holds a retail foreign exchange license from the Vanuatu VFSC (license number: 40378).
Market Instruments
MSG provides investors with financial trading products such as foreign exchange, precious metals, crude oil, indices, US stocks, and cryptocurrencies.
Minimum Deposit
MSG offers all investors a trading account with a minimum deposit of $500, a high amount for most regular traders to get started.
MSG Leverage
In respect to trading leverage, this part is not fully disclosed. According MSG customer service staff, the trading leverage differs depending on various instruments.
Spreads & Commissions
As spreads listed on MSG website, they are super high. The spread on EURUSD, GBPUSD, AUDUSD pairs is as high as 30 pips, 50 pips for XAUUSD, 4 pips for XAGUSD, and 5 pips for Crude Oil. Most legit brokers offer the spread on EURUSD around 1 pip to 1. 5 pips. So here, we can judge MSG is not a legit broker, and traders should stay away from this broker.
Trading Platforms
MSG provides investors with the market-leading and widely acclaimed MT4 trading platform, as well as MT4 Windows, MT4 iOS, and MT4 Android versions. The platform offers traders a wide range of trade execution features, unlimited charts, rich technical indicators and curves, custom indicators, and scripts to support traders in implementing any easy or complex trading strategy.
Deposit & Withdrawal
MSG supports traders to deposit and withdraw funds to their investment accounts via credit card, wire transfer, and USDT cryptocurrency.
| MSG Review Summary | |
| Founded | 5-10 years |
| Registered Country/Region | Singapore |
| Regulation | NFA (General registration) |
| Market Instruments | Forex, stock CFD, commodity, metals, cryptos, index |
| Demo Account | Unavailable |
| Leverage | Not mentioned |
| EUR/ USD Spread | Not mentioned |
| Trading Platform | MT4 |
| Minimum Deposit | $100 |
| Customer Support | 24/5 email, Twitter, Facebook, Instagram and YouTube, live chat |
MSG offers popular trading instruments across various asset classes. Clients have the option to open live accounts, with a minimum deposit requirement of $100. The platform provides access to MT4. And customer service can be available 24/5 through live chat and email.
| Pros | Cons |
| • Various trading instruments | • No 24/7 customer support |
| • MT4 supported | • Limited information about leverage and commission |
| • Long years experience | • No demo account available |
| • Live chat available | |
| • convenient deposit and withdrawal methods |
MSG (MASTER SELECT GROUP LLC) is regulated by the Financial Services Authority of Saint Vincent and the Grenadines and holds a Business Registration license (License No. 3172 LLC 2023). Its status is classified as “Offshore Regulated,” indicating compliance with local regulations.
MSG offers five classes of tradable instruments. Here are the different types available:
MSG offers live account for their clients and the minimum deposit is $100. To open a live account, traders will be required to register their profiles by clicking on any of the “open live account” buttons. This step is necessary to initiate the process of opening a live trading account with MSG.
MSG provides its clients with the popular MetaTrader 4 (MT4) trading platform. MT4 is a powerful and widely-used platform in the financial industry, known for its user-friendly interface, advanced charting tools, and comprehensive trading capabilities.
With the MT4 platform, traders have access to a wide range of features and tools to enhance their trading experience. The platform allows for real-time price quotes, a variety of order types, and advanced trading execution. Traders can easily monitor their positions, manage their trades, and analyze market trends using the extensive charting package available.
Another noteworthy feature of MT4 is its mobile compatibility. Traders can access their trading accounts and trade on the go using the MT4 mobile app, available for both iOS and Android devices. This ensures that traders can stay connected to the markets and manage their positions anytime and anywhere.
See the trading platform comparison table below:
| Broker | Trading Platform |
| MSG | MT4 |
| Eightcap | MT4, MT5 |
| AETOS | MT4 |
| TigerWit | WebTrader, Mobile App |
The official website mentions that deposit and withdrawal processing is quick and diverse, especially with over ten types of deposit currencies available. However, specific information requires registration to access.
MSG offers a comprehensive Trading Academy that provides educational resources to enhance traders' knowledge and skills. The academy covers a wide range of topics to help both beginner and experienced traders improve their understanding of the financial markets and trading strategies.
The academy includes introductory courses on various trading platforms, such as MT4 and MT5. These courses provide detailed explanations of the platforms' features and functionalities, helping traders navigate and utilize the full potential of these popular trading platforms.
MSG offers live chat. With live chat, customers can get their questions answered quickly and receive help with any issues they may have. It's a convenient and effective communication channel that can improve customer satisfaction and increase sales.
Customers can visit their office or get in touch with customer service line using the information provided below:
Email: support@msgforex.com
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram and YouTube.
Twitter: https://twitter.com/msgforex
Facebook: https://www.facebook.com/msgforex/
Instagram: https://www.instagram.com/master_select_group
YouTube: https://www.youtube.com/c/msgforex
Whats more, MSG provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities. By offering this resource, MSG aims to provide transparency and clarity to their clients, helping them make informed decision.
In conclusion, MSG is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities. With its user-friendly interface and advanced charting tools, MSG's trading platform, MT4, caters to the needs of both beginner and advanced traders.
Is MSG legit?
No, MSG currently operates under no regulation.
Does MSG offer demo accounts?
No. It does not offer demo accounts.
Does MSG offer industry leading MT4 & MT5?
Yes. It only offers MT4.
What is the minimum deposit for MSG?
The minimum initial deposit to open an account is $100.
Is MSG a good broker for beginners?
No. It is not a good choice for beginners. Too many reports of being unable to withdraw can't be overlooked.
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.
MSG is a legitimate broker regulated by the Financial Services Authority of Saint Vincent and the Grenadines. However, as an offshore-regulated broker, it provides less regulatory oversight compared to brokers in more heavily regulated jurisdictions. Traders should be cautious and understand the risks associated with offshore brokers.
MSG offers a wide variety of trading instruments, including Forex, stock CFDs, commodities, metals, cryptocurrencies, and indices. It also supports the popular MetaTrader 4 (MT4) platform and provides live chat customer support. The broker has years of experience and offers convenient deposit and withdrawal methods.
MSG offers the MetaTrader 4 (MT4) trading platform, which is compatible with desktop, Android, and iOS devices. MT4 is known for its advanced charting tools, real-time price updates, and the ability to automate trading using Expert Advisors (EAs).
MSG (Master Select Group LLC) is regulated by the Financial Services Authority of Saint Vincent and the Grenadines under a Business Registration license (License No. 3172 LLC 2023). It is considered “Offshore Regulated,” which means it operates in compliance with local regulations but may not offer the same investor protection as brokers in stricter jurisdictions.
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FX1495744846
Vietnam
I SUSPECT THAT THE IB BUSINESS OF THIS BROKER IS WEAK, THEY EXECUTED ORDERS WITH THE INTENTION OF DEPLETING MY CAPITAL. 95% OF THE PROFITS WERE GENERATED BY MY OWN ORDERS. AT 3 AM THAT DAY, I DID NOT TRADE, BUT MY ACCOUNT GENERATED TRADING ACTIVITY THAT DEPLETED MY CAPITAL. I HAVE SENT 4 EMAILS TO THE CUSTOMER CARE DEPARTMENT, BUT UNTIL NOW, AFTER MORE THAN 1 MONTH, I HAVE NOT RECEIVED ANY RESPONSE.
Exposure
luna9458
Vietnam
I have attempted to withdraw four times, and each request has been denied.
Exposure
VUONGTRUONGTHINH
Vietnam
I have contacted support at cs@msgtrader.com, but no one has responded regarding the refusal of my withdrawal. My account balance is 20,972 USDT, and they are not allowing me to withdraw the funds.
Exposure
FX1494005621
Singapore
Really appreciate the low spreads and the high leverage, not to mention the light-speed trading. And kudos to them for making the deposit process hassle-free.
Positive
FX1484831199
Singapore
Various instruments, low spreads, and fast trades. Their account setup and daily updates are intuitive and informative. A good trading platform.
Positive
Nguyễn Quang Huy8030
Vietnam
Scam warning: MSG (Master Select Group) website: https://msgtrader.com Can't withdraw money, IB scam, the floor deletes player's account. My name is Nguyen Quang Huy, I have a friend named Thanh Tung ( admin of Zalo Group: Investing in billions) who contacted and advised me to buy the tool Take Propips trading management solutions for $300 with the condition of depositing money into the MSG platform (https://msgtrader.com/) to trade. At that time, I checked the MSG floor on WikiFX and saw that the score was still above 7 points, so I trusted it. Moreover, the account number to deposit money to buy tools is a company account that should be trusted. VTRADER INTERNATIONAL INVESTMENT - TRAINING JOINT STOCK COMPANYhttps://infodoanhnghiep.com/thong-tin/CONG-TY-CO-PHAN-DAU -TU-DAO-TAO-QUOC-TE-VTRADER-86210.Then I deposited $1000 into MSG and traded on January 9, 2024. By January 23, 2024, my account had a profit of more than $400. At that time, I made a withdrawal order but saw a refusal message. I made another withdrawal request of $200 and it was also rejected. I contacted the introducer but couldn't get in touch, and was removed from the Zalo group "Investing billions" I chatted with MSG support and it was ok. Notice that the payment gateway is under maintenance, please wait patiently. I waited until the next day to withdraw the money but it continued to be refused. Chat with support and you will be informed that you are contacting the referrer. But I cannot contact the referrer, one-way calls are blocked. At noon on January 25, 2024, I was able to contact the referrer. At this time, when I asked for support, they did not support or respond. He often said he was busy with work and couldn't answer the phone (actually blocking my calls). I have now officially confirmed that this is a fraudulent exchange. Can't withdraw when depositing, deleting the customer's account, or responding to support in a roundabout way, the floor says to contact the referrer, and the referrer says to contact the floor. Ace, please note that you should avoid participating in the MSG (Master Select Group) website: https://msgtrader.com. After a few hours, support said it was because the agent changed my login email. Support said they had changed my email and I could log in again. But when I logged back in, I saw that the money had been completely withdrawn from my account. There was no withdrawal recorded in the withdrawal history. Support told me to wait for them to check, but I waited and waited and didn't see anything. I have enough evidence to provide and verify that the floor is a scam.
Exposure
FX1523875063
Philippines
I recalled a trading episode involving the USD/JPY pair. Underpinned by MSG’s real-time trading signals and my market analysis, I placed a long order. Despite the occasional platform delay, the overall experience was not hampered as my trade was executed at the price level I intended. When it came time to withdraw my profits, MSG handled it fairly well, although the transfer speed was a bit more leisurely than some of its counterparts. While not a major concern, it's something that could certainly be improved. All in all, while I do appreciate MSG for its decent trading conditions and customer service, there are certain areas - spreading and withdrawal speed, where it could put some additional efforts to compete with other global forex brokers.
Positive
Birdy200
Malaysia
I remember being new to the platform and successfully executed my first trade within mere minutes of my account setup - the platform's layout has a smooth learning curve that's ideal for beginners like me. Also, their customer service is truly unmatched. On one occasion, I had difficulty with a deposit transaction late in the evening. Despite the late hour, their dedicated support team was available, resolving my issue swiftly and professionally, which spoke volumes about their commitment to customer satisfaction.
Positive
鸠摩智
Hong Kong
I can't withdraw money, and I can't contact customer service. It started last Monday. Does anyone know how to contact me?
Exposure
kai2541
Taiwan
I can’t trade for several days, customer service has no response, community manager has no response, and withdrawal has no response, no one can handle my withdrawal.
Exposure
小鲤鱼
Hong Kong
I have been on the platform for many years and I can be regarded as an old user, and trust in you. You are my first choice. Hope to give me an explanation. I can't get in touch right now. Hundreds of thousands fluctuate back and forth in the account and cannot do any transaction operations, and no one can be contacted for any reason. Think that other people's money is blown by the wind. Maxun is such a platform.
Exposure
FX1714088702
Hong Kong
Trading an order for eight hours but MSG Group does not give profits. Stay away from them. Trading an order for eight hours but MSG Group does not give profits. Stay away from us
Exposure
Kelly3838
Taiwan
I closed all positions on 2023/3/29 and applied for a withdrawal of USD 3,400. On April 4, 2023, MSG received an email saying that the withdrawal was not allowed due to transaction violations. But I don't have any violations, so I sent Line to ask customer service. The customer service consulted finance for many days without telling the reason. When I sent an email to support@magforex.com asking about withdrawal related issues, the email bounced back. Calling the customer service number on the official website again is also an empty number. On April 6, 2023, the customer service asked me to resubmit the withdrawal application. I applied again on April 6, 2023, and there is still no news on April 13, 2023. This kind of platform that does not allow customers to withdraw money should let everyone involved in the transaction know. Attach a screenshot and hope the platform can assist in the negotiation. If it still fails, I should go to the police to deal with it.
Exposure
anny tang
Taiwan
I was a simple netizen at the time, one day he said that he made a lot of money investing in virtual currency, and asked me if I would like to follow him to operate, but I refused at first, and finally invested 100,000 Taiwan dollars with him, and the result was a profit of 1 for the first time Ten thousand yuan. Later, I kept saying that if I invest a little more, I will make more profits, and I have repeatedly promised and sworn that I can fully withdraw the funds. When I want to withdraw the funds, I have to pay a 20% capital verification deposit. If If I don’t pay, I can’t withdraw money. Can I ask the official to help me deal with it now?
Exposure
Kelly3838
Taiwan
On March 30, 2023, I will close all positions and apply for a withdrawal of USD 3,400 (a total of USD 3,456 in the account). On the afternoon of April 4, 2023, I received a letter from MSG, claiming that my transaction violated the rules and I was unable to withdraw funds. I immediately asked the customer service line provided by MSG, and the customer service said that I needed to ask about finances. But as of this morning, there was no reply as to why the withdrawal was refused. Just keep saying need to wait for finance. The last time I refused to withdraw money made me wait for two weeks, and the reason given to me later was that Visa checked my transaction records. I asked if it would be impossible to deposit money with a credit card in the future. MSG said that it is also possible to deposit money with a credit card. This time I don't know why it said that my transaction was illegal. I also sent a letter to support@msgforex.com, and the letter still bounced back. The business phone number provided on the website is still empty.
Exposure
Kelly3838
Taiwan
On March 16, 2023, I applied for a withdrawal of USD 4,700, and on March 24, 2023, I still cannot get any status update of the withdrawal. Customer service keeps saying it's still under review. The customer service asked me to write to support@msgforex.com, but the letter could not be sent. The customer service said to help me pass it to the finance department, but there was no positive response. The phone number on the official website is empty.
Exposure
谢家少爷《二》
Singapore
It's really strange, this company seems to be very reliable, but I see a lot of people say it is a scam. I think if I didn't see the information on wikifx, I would be cheated.
Positive
FX1714088702
Hong Kong
No one cares, no one solves my problem. Fraud platform that cannot withdraw profit.
Exposure
FX1714088702
Hong Kong
I can’t withdraw money after making a profit. It’s been almost a year and no one has solved it or asked you. The customer service will not reply. Stay away from the platform
Exposure
麦克8
Hong Kong
I normally do trading trends in Maxun. No profit, garbage platform. If you make a profit, you are in violation of the rules. Stay away from this garbage platform
Exposure