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 complaint 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 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
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
The above reviewer had deposited $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”
This person had a similar situation. His account earned a few dollars from the forex exchange.
Then, he transferred his funds to a Binance account and converted it to crypto.
Afterward, the company asked him to send an email for identity confirmation. Then, they asked him for another payment.
Once he completed the above-mentioned steps,
“MSP Limited is Not Registered with FINMA”
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!”
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:
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.
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 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.
Afterward, Adam recommended he 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 respondents said that their requested payment was for the turnover of their crypto wallet.
He suspected something was wrong so he contacted the customer support of official Binance. They told him that the link he had sent his money to had no connection to their platform.
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 its 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. You get a personal analyst and monthly private sessions with the same.
Also, the broker claims to offer weekly market reviews with this account.
Other account types available with this broker are:
- Gold (Minimum deposit of $50,000)
- Platinum (Minimum deposit of $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 compared 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.
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.
You should avoid unregulated brokers as they can break the usual regulations of financial regulators and steal your funds.
Unreliable Trading Platform
The trading platform of MSP Limited is an in-house platform that 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.
The broker charges an inactivity fee if you don’t log in 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.
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.
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. 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.
Conclusion
After going through the above points, it’s clear that MSP Limited is a shady forex broker which uses unethical tactics to get clients.
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.
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Fraudsters stole all of my deposit…don’t trust MSP Limited. They will take all of your money and stop responding!
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.
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.
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?
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.
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.
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.
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.
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.
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.
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.