MRG Review (2025): Is it Safe or a Scam?

When evaluating a forex broker, the most critical metric is its regulatory standing and safety score. Unfortuntately for traders considering MRG (Max Rich Group), the safety indicators are flashing red.

With a dangerously low WikiFX Score of 1.52 out of 10, MRG falls squarely into the high-risk category. This low rating reflects a lack of verified regulation, offshore registration lacking oversight, and official warnings from government authorities. This review analyzes the data to explain why this platform is currently marked as “unsafe” for retail traders.

Regulatory Status and License Check

The primary function of a forex broker review is to verify the safety of user funds. For MRG, the regulatory assessment reveals significant gaps that leave traders vulnerable.

No Valid Regulation

According to the latest WikiFX database search, MRG does not hold a valid license from any Tier-1 regulatory authority (such as the FCA in the UK, ASIC in Australia, or CYSEC in Cyprus). The broke is headquartered in Saint Vincent and the Grenadines.

Saint Vincent and the Grenadines is an offshore jurisdiction known for its relaxed laws regarding company formation. The local Financial Services Authority (FSA) in St. Vincent explicitly states that they do not “regulate, monitor, supervise or license” international business companies (IBCs) engaging in forex trading or brokerage. This means that MRG operates without the oversight required to enforce:

• Segregated Accounts: There is no guarantee that client money is kept separate from the company's operational funds.
• Negative Balance Protection: In valid jurisdictions, traders cannot lose more than their deposit. Unregulated offshore brokers do not offer this legal protection.
• Compensation Schemes: If MRG were to go bankrupt, there is no insurance fund to reimburse traders.

Government Blacklisting (BAPPEBTI Warning)

The most damning evidence against MRG is a specific regulatory disclosure from BAPPEBTI (The Commodity Futures Trading Regulatory Agency regarding Indonesia).

In 2022, BAPPEBTI blocked over 1,200 illegal commodity futures trading websites, and MRG was implicated in this sweep. The regulator categorized these entities as operating illegally without a license and potentially operating under the guise of gambling. Being blacklisted by a government agency is a definitive sign that a broker operates outside the law. When a government body actively blocks a broker's domain to protect its citizens, it serves as the ultimate warning for traders globally.

Exposure: What Users Are Saying

Beyond the lack of paperwork, the actual trading experience reported by users on the WikiFX Exposure Center paints a worrying picture. When a broker score is below 2.0, user complaints are often severe.

Allegations of Chart Manipulation

A recent report filed in March 2024 from an investor in Indonesia highlights specific technical manipulations.

The user, posting under the title “Broker Penipu Hijau”, alleged that MRG engages in unfair candle manipulation. According to the complaint, the broker causes intentional losses for traders by manipulating price movements (candles) that do not match the broader market. This is a common tactic among unregulated “B-Book” market makers who profit directly from client losses.

When a broker controls the platform without third-party auditing, they can introduce “phantom wicks” or artificial slippage to trigger stop-loss orders. The user explicitly warned others to be careful, stating the broker is “severe” and “deceptive.”

Trading Conditions: Fees and Leverage

While safety is the priority, reviewing the trading conditions provided by MRG reveals further risks typical of offshore entities.

Excessive Leverage (1:500)

MRG offers leverage up to 1:500 on its “BASIC” account. While high leverage can look attractive to new traders wanting to maximize small deposits, it is highly dangerous in an unregulated environment. Tier-1 regulators (like the FCA or EMSA) generally cap leverage at 1:30 for retail traders to prevent rapid account liquidation.

By offering 1:500 leverage without negative balance protection, MRG allows traders to take on exposure that can wipe out an account in seconds during minor market volatility.

High Costs and Barriers

The account structure suggests MRG is incentivizing larger deposits to access better trading conditions, a common tactic to extract more capital from unwitting investors:

• BASIC Account: Requires $50 but suffers from wide spreads starting from 2 pips. This is roughly double the industry standard for a “Standard” account, making profitability difficult.
• PREMIUM/SHARIA Accounts: To get a competitive spread of 0.8 pips, a trader must deposit $300 or more.
• INFINITE Account: Demands a massive $50,000 deposit. Given the regulatory status, depositing this amount is exceptionally risky.

Hidden Risks

Even if a trader ignores the user complaints, the “Hidden Risks” associated with MRG are substantial based on its operational profile.

The combination of an “E” Influence Rank and establishment in 2020 suggests the broker has limited market depth and history. Furthermore, the website network (including maxrichgroup.ltd, maxrichgroup.net, and mrgtradernetwork.com) can be indicative of a broker attempting to evade domain blocks. Legitimate brokers typically operate on a single, strong domain authority. Moving between .ltd, .net, and other mirrors is often a technique used to bypass firewall restrictions imposed by regulators like BAPPEBTI.

Conclusion: Is MRG Recommended?

Based on the data, the verdict is clear: MRG (Max Rich Group) is not recommended.

The platform fails the most basic safety checks required for a financial service provider:

1. Low Score: A 1.52 WikiFX score signals imminent risk.
2. No License: It operates out of St. Vincent with no oversight.
3. Blacklisted: It has been officially flagged and blocked by Indonesian regulators (BAPPEBTI).
4. User Complaints: Traders have reported chart manipulation and unfair practices.

Trading with MRG places your capital at significant risk of total loss with no legal recourse. Traders are strongly advised to avoid this platform.

CTA: To find safer alternatives, use the WikiFX App to search for brokers with a score above 7.0 and verified regulatory licenses. Checks can save your capital.