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• Our Review Method

• Is MPlus Social Scam or Legit Broker?

• What is MPlus Social?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding MPlus Social due to the issues we've identified.

Is MPlus Social Scam or Legit Broker? ▲

Trading with MPlus Social is deemed highly unsafe. Our thorough investigation into MPlus Social, a broker claiming to operate in the forex market, has concluded that it lacks any form of regulatory oversight. The absence of authorization or registration for its operational address raises significant concerns about its legitimacy. It appears that MPlus Social may be engaging in its business activities from a completely undisclosed location, making it a potentially high-risk entity for traders.

Regulatory Status

Upon examination, it is clear that MPlus Social operates under an offshore license, specifically registered in Vanuatu. However, being regulated by the Vanuatu Financial Services Commission (VFSC) does not provide the same level of security and credibility as licenses from more reputable authorities such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC) in Australia. The lack of a solid regulatory framework exposes traders to numerous risks, including the potential for fraud and mismanagement of funds.

Safety of Funds

Given its non-regulated status and the opaque nature of its operational base, the safety of funds cannot be guaranteed with MPlus Social. The broker's claim of association with liquidity providers regulated by the FCA remains unsubstantiated, as no specific names or details are provided. This lack of transparency further erodes the trust in MPlus Social’s ability to provide a secure trading environment.

What is MPlus Social? ▲

MPlus Social emerges as an offshore brokerage entity focusing on the forex, CFDs, indices, and commodities trading markets. Owned and operated by MPlus Global, it claims regulation under the Vanuatu Financial Services Commission (VFSC). However, the credibility of this regulatory body is often questioned due to its lenient regulatory standards compared to more stringent authorities.

Operational Detail

The broker's website lacks crucial operational details, such as a physical address, and instead provides a vague map link purportedly pointing to Cyprus. Additionally, the contact number provided traces back to Cyprus, adding to the ambiguity surrounding its actual location of operations. This absence of clear, verifiable information casts doubt on MPlus Social’s transparency and reliability as a broker.

Target Markets

Although the website supports multiple languages, including English, French, and Italian, there is no evidence to suggest that MPlus Social is regulated in any of the countries where these languages are predominantly spoken. This raises concerns about the broker's legal ability to target and offer services in these regions, potentially putting traders at risk.

Conclusion ▲

Engaging with offshore brokers like MPlus Social carries a high level of risk, and we strongly advise against it. Our exhaustive review process, which scrutinizes over 1000 brokers, has highlighted the importance of trading with brokers that are duly licensed and regulated by reputable authorities. The absence of such regulation in the case of MPlus Social, combined with its lack of transparency and operational ambiguities, leads us to recommend traders to seek alternatives that offer higher levels of security and regulatory compliance.

Pros:

• There are no discernable advantages to trading with MPlus Social due to the significant risks associated with its lack of regulation and transparency.

Cons:

• The broker operates under an offshore license, offering minimal protection.

• The absence of a clear regulatory status significantly increases the risk of fraud.

• Lack of transparency concerning operational details and liquidity providers.

• No evidence of regulation in targeted countries, raising legal concerns.

In light of these findings, traders are urged to exercise caution and prioritize safety by opting for brokers regulated by authoritative bodies such as the FCA in the UK or ASIC in Australia. These entities ensure a higher standard of accountability and protection for traders, making them a safer option compared to the uncertain and potentially unsafe trading environment offered by MPlus Social.