Scam

MSP Limited (msp-lmtd.net) – Forex Scam & Fraud

MSP Limited aka msp-lmtd.net is a shady forex broker which has received a ton of negative reviews. 

Also, the marketers of MSP Limited aka msp-lmtd.net are using illegal tactics to bury consumer complaints against the dubious practices of the broker. 

Most of the complaints allege that the broker doesn’t let its clients withdraw their funds. Some complain about the poor quality of their customer support. 

The following MSP Limited review will give you a detailed look into the firm and help you understand why you should avoid doing business with them: 

msp limited broker review

MSP Limited Reviews: Why You Must Avoid msp-lmtd.net

According to various MSP Limited reviews, consumers aren’t able to get their deposited funds from this broker. 

Some reviews say the broker makes various excuses when they complain and sometimes stops responding altogether. 

MSP Limited Client Loses Almost EUR 10,000 

msp limited reviews 

Here, the MSP Limited customer points out that he had signed up on msp-lmtd.net. However, he has lost EUR 10,000 with that broker and he doesn’t recommend anyone to trade there. 

He shares that someone named Adam Sobczyk had contacted him and made him deposit funds into the shady broker. Now, he has lost the entire deposit. 

Another Client of msp-lmtd.net Loses His Investment

msp limited reviews

The above reviewer had made a deposit of $250 at msp-lmtd.net. Someone representing the firm had contacted him and convinced him to make the deposit. 

Three days passed and the agent earned $50. However, the reviewer is unable to make any withdrawals. 

He asks if someone can help him with this process. 

“MSP Limited (msp-lmtd.net) Keeps Making Excuses”

msp limited broker reviews

This person had a similar situation. His account earned a few dollars from the forex exchange. 

Then, he transferred his funds to Binance account and converted it to crypto. 

Afterwards, the company asked him to send an email for identity confirmation. Then, they asked him for another payment. 

See also  Royal Regis - Investigation for Alleged Fraud, Impersonation, and Perjury – Fake Copyright Takedown

Once he completed the above-mentioned steps, 

“MSP Limited is Not Registered with FINMA”

E8aJtyw8jaLIJZ V N6MoQzMn0pyLg0w6coL8w6pdFnq6ZL4jeYv

Here, the reviewer points out that nobody should sign up with this scam broker. He highlights that he contacted Binance and FINMA (Swiss financial regulator) to verify if MSP Limited has a registration with them. 

The reviewer discovered that msp-lmtd.net doesn’t have a registration with either of these entities. 

He says he will file a police report against the company and urges other victims to do the same. The reviewer believes that multiple reports might force the authorities to take some action against the sham broker. 

“Don’t Trade with MSP Limited!”

msp limited broker reviews

Here, the reviewer warns other consumers that they shouldn’t open an account with this forex broker. 

He points out that opening an account with them will cause you to lose your entire investment. 

MSP Limited Review Exposes Their Scamming Process:

Zi8p8YX5J M65KNta7q2v5bCoDlZ5u9yWvJO2v8x

Here, the reviewer shares that he had visited the website msp-lmtd.net by clicking on an ad. 

When he read the information available on their web page, the reviewer developed an interest in the services of MSP Limited. 

So, he registered with them and set up an account as well. 

After he set up the account, a representative from the firm contacted him and told him that he will need to add at least $250 to his account to begin trading. 

Then, the representative began instructing the reviewer about the different steps of the process. Later, he called the reviewer and introduced himself as Adam Sobczyk. 

Furthermore, he sent him a link to download the MetaTrader 5 platform. However, the reviewer later suspects that the platform wasn’t the actual platform and a rigged version instead. 

He is sure of that because he compared the platform MSP Limited offered to him with the ones available on reputed websites. 

See also  Moez Kassam - Probed by DOJ and SEC for Corruption

The reviewer says their MT5 platform would show high profits from your trades regardless of their actual performance so you’ll keep depositing more money. 

“MSP Limited Gives You A Rigged Platform”

Initially, Adam suggested the reviewer should invest in CFDs to see how he can generate great profits with low risk. 

Furthermore, within a few days of the investment, the returns were around 70%. Also, Adam told the reviewer that MSP Limited doesn’t charge any account maintenance fee and the only fee he will owe the broker is the 5% fee on potential profits. 

The company representative told the reviewer that to invest more funds, he would need to set up a Binance account and transfer cryptocurrency from it to his MSP Limited account.

Moreover, the representative recommended the reviewer to invest at least EUR 3800 to get a bonus of $1250 which would help him get more returns from the market. 

Later, he suggested the reviewer add another EUR 5200 to his account. By following the representative’s advice, the reviewer had grown his account’s balance to EUR 18,000. 

Afterwards, Adam recommended him to transfer those funds to his bank through Binance. 

However, when he tried to make the withdrawal, he couldn’t. 

When the Reviewer Received A Fake Binance Email

When the reviewer contacted Binance through the link provided by Adam, he received a response saying he will need to add EUR 7,538 more to his account for the withdrawal. 

Also, the response said that their requested payment was for the turnover of his crypto wallet. 

He suspected something was wrong so he contacted teh customer support of official Binance. They told him that the link he had sent his money to had no connection to their platform. 

See also  GXCM Review – A Dirty Broker In the Market

Moreover, the blockchain address was private so Binance couldn’t help him get a refund as well. 

Later, the reviewer contacted FINMA to find out if the broker had a registration with them. They told him that MSP Limited doesn’t have a license from them. 

Additional Reasons to Avoid MSP Limited Forex Broker: 

While the above MSP Limited reviews explain how this forex broker runs it scam, there are more red flags in their offerings. 

Below are some additional red flags I found on their website, msp-lmtd.net: 

High Minimum Deposit Requirement

The minimum deposit requirement at MSP Limited is $25,000. Their smallest offering is the Silver account. Apparently, you get a personal analyst and monthly private sessions with the same. 

Also, the broker claims to offer weekly market reviews with this account. 

msp-lmtd.net

Other account types available with this broker are: 

  • Gold (Minimum deposit $50,000)
  • Platinum (Minimum deposit $100,000)

Some of the features you get on these accounts include a Welcome Bonus and access to dedicated analysts. 

Still, the $25,000 minimum deposit requirement is extremely high when you compare to the current industry standard. Currently, reputed brokers keep their minimum deposit requirement around $10. 

It’s a common tactic among forex scams to keep their minimum deposit requirement extremely high. 

Another shady broker utilizing this tactic is Eurotrader. They have received plenty of complaints for ignoring their clients’ interests.

Lies About Regulation

MSP Limited claims to have a license from FINMA, the financial regulatory authority in Switzerland. 

cp66yJ54XxaknhEC0fSkoalQiRwcltb05jt0xiLXFC2qv0MtiucKdFOotxDlj6xPHX3MKzWP DZfSlphMBYO7cn KcKb3y8YG6lSxA5Qh9fmT78TE0Y4vCO8sGsKwhV1fdhe8xy0xMcAOofWDb9FlO1lFN6e8GUU24gLZvT C1YqJgwTH w ssvLDA

However, multiple reviewers have contacted FINMA to complain about the broker only to find out that the company doesn’t have a license to operate in Switzerland. 

In other words, you don’t get the protection of FINMA when you’re dealing with them, which is a huge red flag. 

FINMA
(Source)

You should avoid unregulated brokers as they can break the usual regulations of financial regulators and steal your funds. 

See also  Forex CashPower Indicator: Fake Reviews & Scam

Unreliable Trading Platform

The trading platform of MSP Limited is an in-house platform which doesn’t offer any special features. It seems bland and pretty mediocre when you compare it with the most popular trading platform of the current industry – MetaTrader5. 

Also, it’s worth noting that it’s common among forex scams to keep an in-house trading platform as it allows them to manipulate trades easily. 

As several reviewers have complained about how the trading platform of MSP Limited is ‘rigged’, it seems important to highlight this issue. 

You should avoid trading with brokers who use such terrible platforms especially when you have plenty of options to choose from. 

Hidden Fees

On its website, msp-lmtd.net, MSP Limited doesn’t give much information on how much fees it charges.

MSP limited

The broker charges an inactivity fee if you don’t login and trade from your account for 3 months. This fee is 10% of your total account balance. 

Apart from this, they haven’t specified any fees they charge. 

They only mention that they charge some processing and handling fees on withdrawals but don’t specify the amount. 

wjdeD6ZuSaYmUQC0Ob2IMrrrHZQVwuDm1Vnasr4ta22q3xqCo pjEU b1LwZ1QrUMqMDwLgbqxxJ98 bh2A7DTCfmIthQfZHEraSvavGcYC4zNdiLJxC9fHN84BvuQzInhVjFxegy9G3bhJTfrR9udPFcBm

Such ambiguous terms expose you to the risk of paying hidden fees. Scammers use hidden fees to steal their customers’ funds. Furthermore, because you agree to their terms, you can’t get your money back very easily. 

Also, the firm says on its website, msp-lmtd.net that it might ask you to produce additional documents for withdrawals. 

Is MSP Limited Using Illegal Tactics to Hide Complaints:

When I was looking into MSP Limited, I found several fake DMCA notices against several reviews on this broker. 

Someone representing this firm copied the content from the original website, posted it on their site and changed its date to make it seem older. Then, they sent a DMCA notice saying they posted the content originally. 

See also  Cibfx
9AD8aIxmVky76zyq de8GEcf917q1jfdwfVc gTO6oMkxTQC uBGL8BW1Vskt Nmkb98zJfx6Fq8qMoWbWOt8AZUOuixtBZQHESM4coGSoSSF ndp6EMdOT6t y ECb4c4wF0OognoCDbR8Px5vmydose4y0yVt66 HV92aB655QHzT3W886brtD A

Fake DMCAs constitute perjury, fraud, misrepresentation and identity theft. They are illegal and unethical. 

However, using fake DMCA notices is pretty common among online scams as they use them to hide client reviews and complaints. 

You should be extremely cautious of such businesses. In fact, I would suggest you avoid doing business with MSP Limited for using this terrible tactic. 

It shows the company lacks business ethics and isn’t afraid of breaking laws. 

MSP Limited might post a fake DMCA notice against this review as well. However, if they do, I’ll rebut it and add an update here. 

Conclusion

After going through the above points, it’s clear that MSP Limited is a shady forex broker which uses unethical tactics to get client.s 

The company lies about its registration and has received countless complaints for stealing funds from its clients. 

Moreover, MSP Limited is using illegal marketing tactics to bury the negative reviews their victims have posted online. All of this suggests that you should avoid dealing with them and find a different broker. 

MSP Limited is not worth the risk.

1.9 Total Score
Scam

MSP Limited is a shady forex broker which has received multiple complaints for not allowing its clients to withdraw funds. They use unethical and illegal marketing tactics to get more customers and bury negative reviews.

2.6Expert Score
Trust
2.5
Experience
3
Concern for Clients
2.1
Ethics
2.7
1.2User's score
Trust
1.3
Experience
1.3
Concern for Clients
1.2
Ethics
1.2
PROS
  • None
CONS
  • Post fake DMCA notices
  • Lie about regulation
  • Poor trading platform
  • Too many negative reviews
  • High minimum deposit
Add your review  |  Read reviews and comments
11 Comments
Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. 0.6
    Trust
    20
    Experience
    10
    Concern for Clients
    10
    Ethics
    10

    Fraudsters stole all of my deposit…don’t trust MSP Limited. They will take all of your money and stop responding!

    Helpful(0) Unhelpful(0)You have already voted this
  2. 0.6
    Trust
    20
    Experience
    10
    Concern for Clients
    10
    Ethics
    10

    MSP Limited takes money from you and doesn’t tell you about it. My accout balance reduced suddenly and is now very small. Now I cannot make a withdrawal request.

    They charge a lot of fees.

    + PROS: Scam
    - CONS: Scam
    Helpful(1) Unhelpful(0)You have already voted this
  3. 0.75
    Trust
    20
    Experience
    20
    Concern for Clients
    10
    Ethics
    10

    Why didn’t I find this review before???

    I had registered at msp limited a few weeks ago but I had no idea they were a scam. I thought I would make some good profit but no, it was all a ruse. When I tried to get my money back, they wouldn’t let me. It has been 2-3 weeks and there has been no progress whatsoever. My money is stuck. Don’t sign up on msp limited. They are definitely a scam.

    Helpful(1) Unhelpful(0)You have already voted this
  4. 0.6
    Trust
    10
    Experience
    10
    Concern for Clients
    20
    Ethics
    10

    Yeah they are a fraud.

    MSP limited took over $1000 from me!

    They are not letting me withdraw. Whenever I ask about my money, they tell me to wait for a few days and blame it on something.

    I have been waiting for too long now. I should have known they are too good to be true. How do I get my money back? Can someone help?

    + PROS: None
    - CONS: Lying company, thieves
    Helpful(1) Unhelpful(0)You have already voted this
  5. 0.6
    Trust
    10
    Experience
    10
    Concern for Clients
    20
    Ethics
    10

    MSP Limited is a scam. Those thieves took my money and didn’t let me withdraw. They kept making excuses and now I have lost my over $500 because of them. I don’t know how I will get my money back. But one thing is clear to me, the whole website is a scam.

    + PROS: No
    - CONS: Scammers Stole my money Make excuses all the time
    Helpful(1) Unhelpful(0)You have already voted this
    • Scammers are everywhere man. I lost a lot of money through another forex scam and since then I have been very careful when selecting brokers. Don’t be disheartened brother, there are plenty of good brokers out there.

  6. 0.75
    Trust
    10
    Experience
    20
    Concern for Clients
    10
    Ethics
    20

    What?! This is news to me. I can bet one of those guys at MSP limited told me they are a properly licensed company. They are lying to customers out there!! I would have never spent my money there if I knew they were unlicensed. FINMA and other authorities should do something about their warnings. I didn’t hear about their warning anywhere. I have deposited several hundred euros in my trading account.

    Helpful(1) Unhelpful(0)You have already voted this
  7. There are so many scammers in the forex industry man. I am not surprised to see another new one, especially when everything is going to shit. I feel sorry for everyone who fell for this scam tho.

  8. Reply
    MSP Limited is a scam
    November 3, 2022 at 4:38 pm
    0.5
    Trust
    10
    Experience
    10
    Concern for Clients
    10
    Ethics
    10

    I just sent my friend this review. He has been pestering me to sign up on this nonsensical scam for this past week. This should shut him up for good lol.

    Helpful(1) Unhelpful(0)You have already voted this
  9. 0.5
    Trust
    10
    Experience
    10
    Concern for Clients
    10
    Ethics
    10

    Do not sign up on MSP limited.

    I am not able to withdraw any money from my trading account here. The customer service doesn’t respond and I only get replies from bots. This company is a total scam.

    Helpful(1) Unhelpful(0)You have already voted this
  10. 0.75
    Trust
    10
    Experience
    20
    Concern for Clients
    10
    Ethics
    20

    OMG no… please no…I had added 250EUR to my msp limited account just last week. I don’t like what I’m reading here. I will request a withdrawal right away.

    Helpful(1) Unhelpful(0)You have already voted this

Leave a reply

Your total score

Gripeo
Logo
Register New Account