msquaregold.com is a CFD broker, with its domain registered on August 19, 2024, specializing in providing trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies. The platform primarily targets retail and institutional clients, offering online trading services for various financial products and does not provide services to regions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
According to the content disclosed on the msquaregold.com official website, this broker claims to be one of the top 50 financial services companies in the United States and uses "MSquare" as its brand name. The company headquarters is located at 1430 Stout St, Denver, Colorado, United States. However, the company has not disclosed its full company name, registration number, company logo, or corresponding regulatory license number to verify its identity on the website. Additionally, detailed terms of service or other relevant legal documents are also absent from the site.
Upon verification, a company named "M SQUARED INC" was found on the websites of both the U.S. Securities and Exchange Commission (SEC) and the National Futures Association (NFA); however, this company is a non-member of the NFA and was deregistered with the SEC on August 30, 2021.
Furthermore, the design and content of msquaregold.com's website are very similar to those of several known scam broker websites, such as bcgmarkets.com, APOLLO Markets Ltd, and cartaforex.com, all of which use the same template design.
Trading Products and Services
msquaregold.com offers trading for various financial derivatives, including but not limited to:
- Forex Trading: The platform provides trading services for several major forex pairs, such as EUR/USD, USD/CAD, GBP/USD, USD/JPY, and others.
- Precious Metals Trading: Including spot trading of gold (XAUUSD) and silver (XAGUSD).
- Crude Oil Trading: Offering trading services for US Oil (UsOIL).
- Index Trading: Tradable indices include the Nikkei 225 (N225), Germany 30 (GER30), and S&P 500 (US500).
- Cryptocurrency Trading: Providing trading pairs such as Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), and several others.
Account Opening Process
During testing, attempting to open a trading account on msquaregold.com by clicking "Register" on the official website did not redirect to the account registration page, hence it is not possible to register a trading account on their website.
Trading Account Information
msquaregold.com only discloses partial account information on its website, such as spreads, trading leverage, and contract sizes. However, details regarding account types, trading commissions, minimum/maximum trading volume, maximum positions/orders, margin call/stop-out levels, and minimum price increments are not clearly listed.
- Base Currency: USD
- Spreads: Floating spreads, starting from 1 pip
- Leverage: 1:100
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
msquaregold.com claims to offer a trading platform named ST5, supporting web and mobile terminals. However, clicking the mobile download link on their website leads users to download Vlockedxa from the App Store and EVJORERJG from Google Play, both of which may have dubious legality and present potential risks.
Deposits and Withdrawals
msquaregold.com does not clearly list the supported deposit and withdrawal methods, related fees, or minimum deposit/withdrawal amounts on its website.
Summary and Recommendations
Traderknows reminds investors that msquaregold.com is a scam broker website without an actual company entity and lacks any regulatory oversight. The platform's contact options are limited to email, lacking other reliable communication channels. Therefore, investors are advised to choose brokers with transparent information, regulation by authoritative bodies, and a good reputation to avoid potential financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
