Microngroup Ltd broker is operating under the name Micron Group since 2023. With alleged headquarters in Belgium, they should be reputable broker with strict regulations and credibility. But if that’s what they offer, we are about to discover in this Microngroup Ltd review.
Considering many irregularities, starting with licensing we can’t expect much from the broker. On top of that, their technology is not something to be jealous of. If you want to compare it with others, feel free to check our BluFX, Amicus Invest and Duke Markets reviews.
The first sign of the Microngroup Ltd scam is their regulation. Primarily because they claim to be licensed by Global Legal Entity Identifier Foundation (GLEIF). But nowhere in the statement is listed the exact website linked to that. Hence, we know it’s fake news.
Nevertheless, they don’t have any Tier 1 regulations. In this case, satisfying choices would be FCA, BaFin and ASIC. Yet, they don’t have it. Instead, the company is already on the warning list of trusted French AMF.
One of the ways to control client’s behavior is the Microngroup Ltd platform. With their web-based software, they can easily manipulate what’s happening on the account. Therefore, inexperienced traders blindly trust them. That’s how they fall into the trap and start depositing more money. It’s not rare that with an unregulated broker, you face unexpected things.
In this case, non-existent fees or taxes for withdrawal, often market crashes or even freeze your account. Not to mention very poor contact options. In case you were facing any issues with this broker, contact us as soon as possible. You could start the refund already today!
Since its registration in 2023, the company managed to spread all across Europe. Yet, traders were not so satisfied with their services. Overall, scammed traders are coming from:
Wherever you are coming from you can have issues with brokers. Feel free to share those with us and let us be your guide towards a solution.
Generally speaking, Tier 1 licensed brokers often offer third-party software. Mainly because of trust issues with clients and they know it. In fact, this broker knows it as well. Yet, instead of MT4/MT5 or cTrader, you can only use their web-based platform. With only scalping strategy and no social or copy trading options, it can’t be compared to the industry-leading software.
In general, web-based software is only accessible in the browser. The same situation is with this scam broker. That’s why we suggest iOS and Android users look for another broker. Unless they are looking for a huge disappointment.
One of the leading instrument classes is missing with Microngroup Ltd scam broker. Seems like they didn’t do their market analysis. Anyway, you can only choose 4 main categories:
Practically, all the account types offer the same. Yet, they require you to deposit more money and they don’t reveal Microngroup ltd fees. In this case, clients can choose between:
Another key fact is missing a demo account. Many unregulated brokers tend to hide their flaws for as long as possible. This is a clear warning sign that you should change a broker.
The first thing crossing your eyesight is their leverage of 1:200, whilst European regulators limit those to 1:30 for retail traders. Not to mention that the company failed to provide information about trading costs. In fact, it’s all built to limit Microngroup Ltd withdrawal.
As can be seen from the company presentation they don’t offer bonuses. Thus, those are hidden in the withdrawal policy. In case that this broker offers you a bonus, just have in mind those are banned in Europe. The reason for that is a shady policy where you can get the whole balance removed.
Another key issue is the withdrawal policy. Most likely you won’t be able to get any withdrawals. Primarily because of this malicious bonus policy. It states that you need to reach an unspecified minimum trading volume. So, it looks like a perfect crime.
Since Microngroup Ltd support is most likely useless, you’ll have to find other ways. Primarily, let us know about your experience with the broker. But at the same time, report it to authorities. Bear in mind that Microngroup Ltd money back option is available. Contact our expert team today for a detailed guide.
No. The company is misleading traders about regulations. Also, they got a warning from French AMF.
The only contact option available is the e-mail and online contact form on the company’s website.
Most likely forever. Simply because of a shady withdrawal policy. If you face any difficulties contact our team as soon as possible for refund assistance.
The company doesn’t reveal any trading costs or any withdrawal fee information.
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