MSquare Review – Is MSquare a scam or legit?
In this MSquare review, we will talk about the reasons why MSquare is listed among the fraudulent brokers 2024 list by Fraud Complaints and guide how victims of MSquare can reclaim their lost funds.
Basic Details for MSquare
Website: https://www.msqrtrade.com/
Website Availability: Yes
Official Address: Level 19, 580 George Street, SYDNEY NSW 2000
Regulation: Exceeded
Warned By: Not Recommended By Review Website Like Fraud Complaints
Domain Status
- Domain Name: MSQRTRADE.COM
- Registry Domain ID: 2877898394_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.namecheap.com
- Registrar URL: http://www.namecheap.com
- Updated Date: 2024-05-03T09:09:57Z
- Creation Date: 2024-05-03T07:17:30Z
- Registry Expiry Date: 2025-05-03T07:17:30Z
Three account categories are available for trading services from Australian broker MSquare: STP Pro, Commission, and Standard. MSquare operates without regulatory monitoring, although posing as a reputable broker, which raises serious questions about its reliability. This post will discuss the dangers of using this platform for trading and the need for caution on the part of traders.
Lack of Regulatory Supervision
One of the most concerning aspects of MSquare is its lack of regulatory supervision. The Australian Securities and Investments Commission (ASIC) or any other accredited financial regulator does not regulate the company, despite its stated Australian base. This means MSquare operates in a legal grey area, offering no real protection for its users. Without regulation, the company is not bound by laws that safeguard client funds or ensure transparency in its operations.
Limited Customer Support Options
Another red flag with MSquare is its limited customer support. Traders often rely on brokers for guidance and quick issue resolution, especially when dealing with their hard-earned money. Unfortunately, MSquare provides minimal customer support, making it difficult for traders to get the help they need in case of problems or misunderstandings. This lack of accessible support further diminishes trust in the platform.
Account Types and Promises
MSquare offers three account types:
- STP Pro: Supposedly designed for professional traders, offering tighter spreads and direct market access.
- Commission Account: Traders pay a commission per trade in exchange for reduced spreads, which may seem attractive at first glance.
- Standard Account: Geared towards beginners, this account type features higher spreads and no commission fees.
While these account types appear tailored for different levels of traders, the lack of regulatory oversight makes any promises from MSquare questionable.
Risks of Trading with MSquare
Due to its unregulated status and poor customer service, trading with MSquare presents several risks. Traders face the possibility of losing their investments without any recourse. Furthermore, the broker’s unregulated nature means it can alter terms, spreads, or even withhold withdrawals without facing legal consequences.Conclusion
MSquare may seem like a viable broker at first glance, but the lack of regulation and limited customer support make it a risky choice for traders.
MSquare Review – How to Claim a Refund from MSquare?
If you have already fallen victim to MSquare fraud, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back from MSquare.
Be aware of schemes like Forex Trading Deceptions, Cryptocurrency Cons, Internet Dating Scams or Romance Fraud, Pump and Dump Tactics, Ponzi Schemes, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Robo-Advisors Deceptions, and Binary Options Deceptions.
Also, read about Titan Capital Markets Review
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Note: The MSquare review is influenced by some existing reviews online and we have created an original review based on known facts. We are not responsible for any legal actions taken by any entity favoring MSquare company.