MSP Limited, which also goes by the name MSP-lmtd.net, is a shady forex company that has gotten a lot of bad reviews.
Also, the people who sell MSP Limited, also known as MSP-lmd.net, are breaking the law to hide complaints from customers about the broker’s shady business practices.
Most of the reports say that clients can’t get their money back from the broker. Some people complain about how bad their customer service is.
This MSP Limited review will tell you everything you need to know about the company and why you shouldn’t do business with them:
Why You Shouldn’t Use msp-lmtd.net
Several reviews of MSP Limited say that customers can’t get their money back from this company.
Some reviews say that when people complain, the broker gives them different reasons and sometimes just stops replying.
Almost €10,000 is lost by a client of MSP Limited.
Here, the buyer of MSP Limited says that he signed up on MSP-lmtd.net. But he lost EUR 10,000 trading with that broker, so he doesn’t suggest it to anyone.
He says that a man named Adam Sobczyk got in touch with him and forced him to send money to a sketchy dealer. He has now lost his whole deposit.
Another MSP-lmd.net client loses his money.
The person who wrote the last review put $250 into MSP-lmtd.net. Someone from the company had talked to him and persuaded him to put down the deposit.
After three days, the agent made $50. But the writer can’t get any of their money back.
He asks if anyone can help him get through this.
“MSP Limited (msp-lmtd.net) Keeps Making Excuses”
This person went through something similar. The fx exchange put a few dollars into his account.
He then moved his money to a Binance account and turned it into cryptocurrency.
After that, the company asked him to send them an email to prove who he was. Then they wanted another payment from him.
Once he had done all of the things above,
“MSP Limited is not on the FINMA list.”
Here, the writer says that this broker is a scam and that no one should sign up with them. He says that he called Binance and the Swiss financial body FINMA to find out if MSP Limited is registered with them.
The person doing the review found that msp-lmtd.net is not registered with either of these groups.
He says he will make a police report against the company and tells other people who have been hurt by the company to do the same. The reviewer thinks that if the authorities hear about the sham broker more than once, they might have to do something about it.
Don’t do business with MSP Limited!
In this section, the reviewer tells other people that they shouldn’t sign up for an account with this forex company.
He says that if you open an account with them, you’ll lose everything you’ve put in.
This MSP Limited review shows how they cheat people:
In this section, the writer says that he went to msp-lmtd.net by clicking on an ad.
The writer became interested in MSP Limited’s services after reading the information on their website.
So he signed up with them and made an account for himself.
After he set up the account, a company rep called him and told him he needs to put at least $250 into it before he can start investing.
Then, the agent started telling the reviewer about the process’s different steps. He called the writer later and told him that his name was Adam Sobczyk.
Besides that, he sent him a link to the MetaTrader 5 platform download page. Later, though, the writer starts to think that the platform wasn’t the real one but a fake one that was set up.
He knows this for sure because he looked at the platform MSP Limited gave him and compared it to the ones on well-known websites.
The reviewer says that their MT5 platform will show that your deals are making a lot of money, even if they aren’t, so you’ll keep putting more money in.
“MSP Limited gives you a platform that is rigged,”
Adam suggested at first that the writer invests in CFDs to see how he could make a lot of money with little risk.
Also, the returns were around 70% just a few days after the purchase. Adam also told the reviewer that MSP Limited doesn’t charge any account maintenance fees and that the only fee he will owe the broker is a 5% fee on any earnings.
The company rep told the reviewer that if he wanted to spend more money, he would need to set up a Binance account and transfer cryptocurrency from it to his MSP Limited account.
Also, the agent suggested that the reviewer put at least EUR 3800 into the market to get a bonus of $1250, which would help him make more money from the market.
Later, he told the critic that he should add another 5200 EUR to his account. By taking the representative’s advice, the reviewer was able to grow the money in his account to €18,000.
After that, Adam told him to use Binance to send those funds to his bank.
But when he tried to pull out the money, he couldn’t.
When the reviewer got a fake email from Binance, Adam gave the reviewer a link to contact Binance. When the reviewer used the link, he heard back that he needed to add EUR 7,538 to his account before he could exit.
Also, the people who answered said that the payment they wanted was for turning over their cryptocurrency stash.
He thought something was wrong, so he called official Binance’s customer service. They told him that the link he used to send his money had nothing to do with their site.
Binance also couldn’t help him get a refund because the blockchain address was secret.
Later, the person doing the check called FINMA to see if the broker was registered with them. They told him that MSP Limited does not have a license from them.
More reasons why you shouldn’t use MSP Limited Forex Broker
Even though the reviews of MSP Limited above show how this forex broker pulls off its scam, there are more red flags in what they have to offer.
I found a few more red flags on their website, MSP-lmtd.net, which I list below:
High Requirement for the Minimum Deposit
At MSP Limited, you have to put down a minimum of $25,000. The Silver account is their most basic plan. You get your own personal analyst and private meetings with that person once a month.
Also, the trader says that this account comes with a weekly review of the market.
This broker also offers the following types of accounts:
- Gold (at least $50,000 down)
- Platinum (Minimum payment of $100,000)
Some of the things you get with these accounts are a Welcome Bonus and access to experts who are there just for you.
Still, the $25,000 minimum payment is very high compared to what the industry standard is right now. At the moment, dealers with a good reputation ask for a minimum deposit of around $10.
Forex scams often have very high minimum payment requirements.
Eurotrader is another shady seller that uses this method. They have been told many times that they don’t care about what their clients want.
Lies About Laws and Rules
MSP Limited says that it has a license from FINMA, which is Switzerland’s banking regulator.
But many reviewers have called FINMA to report about the broker, only to find out that the company doesn’t have a license to do business in Switzerland.
In other words, FINMA doesn’t protect you when you work with them, which is a huge warning sign.
You should stay away from brokers who are not controlled because they could break the rules of financial regulators and steal your money.
Unreliable Place to Trade
MSP Limited uses an internal trading tool that doesn’t have any special features. When compared to MetaTrader5, which is the most popular trading tool right now, it seems boring and average.
Also, it’s important to note that forex scams often have their trading tool, which makes it easy for them to manipulate trades.
Since several reviewers have said that MSP Limited’s trading site is “rigged,” it seems important to bring this up.
You shouldn’t trade with brokers whose platforms are so bad, especially when you have a lot of other choices.
Hidden Fees
MSP Limited doesn’t say much about the fees it charges on its website, msp-lmtd.net.
If you don’t use your account for 3 months, the broker will charge you an idle fee. This fee is equal to 10% of the total amount in your account.
Besides this, they haven’t said anything about the fees they charge.
They only say that there are fees for filing and handling, but they don’t say how much.
You could end up paying secret fees if the terms are not clear. Scammers steal money from their customers by charging them secret fees. Also, since you agreed to their rules, it’s not easy to get your money back.
Also, the company’s website, MSP-lmtd.net, says that if you want to take money, you might be asked for more proof.
Is MSP Limited Using Illegal Ways to Hide Complaints: When I looked into MSP Limited, I found several fake DMCA complaints on reviews of this broker.
Someone from this company copied the information from the original website, put it on their website, and changed the date to make it look like it was from a long time ago. Then they sent a DMCA notice saying that they were the first ones to post the material.
Fake DMCAs are a form of lying, theft, deception, and identity theft. They are wrong and against the law.
But online scams often use fake DMCA warnings to hide negative reviews and complaints from customers.
You should be very careful with these kinds of businesses. I wouldn’t do business with MSP Limited because they use this bad method.
It shows that the business has no morals and isn’t afraid to break the law.
This review could also get a fake DMCA warning from MSP Limited. But if they do, I’ll say why they’re wrong and add an update here.
Conclusion
After reading the above, it’s clear that MSP Limited is a shady forex company that uses unethical ways to get clients.
The company lies about being registered, and it has been accused of taking money from its clients many times.
MSP Limited is also using illegal marketing methods to hide the bad reviews that their customers have left online. All of this shows that you shouldn’t work with them and should look for another supplier.
MSP Limited isn’t worth taking a chance on.
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