For a company that claims to have achieved a record breaking success, they sure change their websites often. The corporate information about this entity is all over the place, and finding any concrete data is almost out of the question.
As expected, everything you see on the site is intended to prolong the illusion of trading. Our MWM Group review will show you just how rotten this whole organization is, and how you may recover the money from this scam.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | No, this company is a shady entity without a license so they can’t be trusted. |
| Known Websites: | mwm-group.co (inactive)
mwmgroup.co (inactive) mwm-group.com (inactive) mwm-group.info |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | December 2023 |
| Trading Platforms: | None |
| Maximum Leverage: | 1:300 |
| Minimum Deposit: | $5.000 |
| Deposit Bonus: | No |
| Trading Assets: | N/A |
| Free Demo Account: | No |
| How to Withdraw from This Company? | All withdrawal attempts end in failure. Please contact our chargeback service for help. |
Multiple Domains at Work
For fraudulent companies like the MWM Group scam, establishing several domains means increased chances of entrapment of unsuspecting victims while avoiding legal repercussions at the same time. With several of them already being shut down or expiring, it’s evident that this fraudulent campaign isn’t going to last long.
The company behind this dangerous scheme is completely anonymous and not registered or regulated anywhere. While there’s no corporate info disclosed, legal documents suggest Bulgarian courts to have jurisdiction over legal company matters. However, FSC, the financial regulator in that country, hasn’t issued this firm a brokerage license.
In order to avoid falling victim to this unscrupulous broker dealer, please consider signing up with a properly regulated entity, like FairMarkets, for instance.
How the Scam Functions
So far, we’ve managed to count 4 separate websites, with mwm-group.co being the oldest one. While the firm claims to be 20 years on the stock market, the scam dates back to December 2023.
The fraudsters are most interested in these regions:
- United States
- Netherlands
- Sweden
- Poland
- United Kingdom
The company boiler room agents work tirelessly in a fraudulent call center in an attempt to attract their victims. They also use social network portals like YouTube and Medium to influence a larger number of people.
The fraudsters use a predetermined script to manipulate their marks, and urge them to install AnyDesk and TeamViewer remote access software. Abusing these programs lets the con artists clean out their victims’ bank accounts in one swoop. Recovering the money is rather difficult, but possible with the help of our professionals.
Reviews Are Fakes
With all the different websites, MWM Group reviews are expectedly scattered all over the place. A large number of them can be seen on TrustPilot and SiteJabber, though.
Taking the time to read the comments, we’ve noticed that they are all repetitive, and that they do not reflect the actual conditions presented by the broker. This tells us that the ratings were paid content, posted by review seller networks in order to deceive the public.
Why are Real Costs Never Shown
As fraudulent entities like SeguroFX have a tendency to do, this charlatan also tends to hide actual costs. With the lack of transparency when it comes to fees and commissions also comes doubt that this broker is hiding something terrifying. That is sudden taxes and charges that usually come with withdrawals, so beware of firms that are not honest about how much they charge for their services.
The only trading parameter known is the leverage, which starts at 1:100 with the tendency to be increased up to 1:300. All other MWM Group trading costs remain a secret.
Fictitious Trading Amenities
These con artists don’t exactly benefit from actual market exposure. The only thing they need is to make you believe you’re trading something on their platform. If you consider these two facts, then their amenities are well up to the task. If you actually compare this con scheme to how an actual brokerage works, the trading features are abysmally bad.
Invisible Web Platform
The ghost trading software the company only vaguely mentions requires you to first open an account to access it. However, once you get to the trading area, you won’t find anything but a simple web form.
Here, you get prompted to update your personal info and share your bank account details and credit card data. There’s no trace of the software, so our advice is to stay away from this fraudulent portal.
What Assets are Described?
The website attempts to appear professional by introducing CFD and Forex trading markets to site visitors. However, this shady Forex dealer never lists a single trading instrument class.
There’s no information on what tradable assets are available. In addition, since there’s no platform to begin with, we believe that no trading ever takes place here.
Ludicrous Funding Requirements
MWM Group broker only offers tiered live trading accounts, like many other charlatans. The company agents incorporate them into their ruse, promising greater returns for higher investments.
The more expensive ones require an insane amount of cash to fund:
- Bronze – $5,000
- Silver – $15,000
- Gold – $50,000
- Platinum – $100,000
- Diamond – $250,000
- Premium – $500,000
- VIP – $1,000,000
Payments Require Account Managers
Notorious professional advisors and account managers are needed if you want to make a deposit or even a MWM Group withdrawal request. To force you to contact them, the miscreants have not disclosed any information about transactions.
Even if you do everything according to their rules, legal docs warn you that you can have your account closed without any prior notice by the company at any time. Is there a better reason not to invest here?!
Customer Support Not Included
The only contact you, as a client, have with the company is through the boiler room agent that first called you. They are known to often change phone numbers, and your only link to the firm hangs by a thread.
Once they determine they can’t squeeze any more from you, they simply cut you off. There is no help desk, nor any customer service option of any kind.
What Can You Do If You’ve Become a Scam Victim?
Taking everything we’ve seen into consideration, we can firmly conclude that this self-proclaimed company is an online scam in disguise. There are no redeeming qualities when it comes to this firm – it’s rotten to the core.
If your funds are trapped on a closed MWM Group website, feel free to book a consultation with our expert team. You may reach us at any time via the live chat, and have proven recovery strategies.
FAQ Section
What is MWM Group?
It is a fraudulent entity pretending to be a world-leading online forex brokerage.
Is MWM Group Legit?
No, the company is completely illegal, with its only purpose being to steal your money!
How to Get Money Back From an Inactive Broker?
Contact our legal team as soon as possible! We are available around the clock via the live chat, and our first consultation is free of charge.
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