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Main Group FX Review: Invest Safely With Maingroupfx.com

Main FX Group Review

The safety of your funds is the most important factor to look for when searching for a broker. And that brings us to our Main Group FX review, which is about a top-tier regulated brokerage that you can trust. Find out everything they have to offer by reading on. 

The broker is based in Australia and has been established only recently, in 2022. Since then, they maintained a good reputation and offered their traders an opportunity to become profitable by providing good trading conditions. 

However, further research is required to proclaim them qualified as a good brokerage company, so make sure to stay until the end. Additionally, if you stumble upon Eukrypto, make sure to check our evaluation. 

About Main Group FX

Both novice and seasoned traders can access a variety of products, such as Forex, CFDs, indices, and commodities, through the trading services provided by Main Group FX PTY LTD. The information about the owner is hidden on WHOIS using a paid service, however, we were able to pull up info about the CEO, Kariem Farag.

Additionally, the broker offers support and educational materials to assist novice traders in learning the fundamentals of trading, along with reasonable pricing, minimal spreads, and quick execution. The trading platform offers a wide range of charting and technical analysis tools and is quite customizable. 

The website itself looks well-designed and full of information about account types, leverage, spreads, education, and more. However, it seems that the company has some unfavorable feedback, so keep reading our Main Group FX review to learn more. 

Company Type Broker
Legal name Main Group FX Pty Ltd
Regulation Regulated by ASIC
Registered in 465 Victoria Ave, Chatswood, NSW 2067, Australia
Established 2022
Website maingroupfx.com.au
Financial Authorities Warnings
  • No official warnings
Contacts
If a withdrawal is possible Potential issues reported;
Fees
  • Hidden fees
If Active on Social Media: Yes
Investor Protection: Yes
Activity areas Australia, Cyprus, United Kingdom, Bulgaria, Spain;
Main threats Unfavorable feedback; Potential withdrawal issues;
Main perks Regulated by top-tier authority; 

Main Group FX Regulation

Unlike Universe-Markets, MainGroupFX is regulated by the Australian Securities & Investments Commission (ASIC) under the ACN number 665 904 236 and ABN number 44 665 904 236. The license was obtained after a year of operating, on February 2023, which could indicate they were operating without one during that time. 

Additionally, the broker offers fund protection with negative balance protection and safe-keeping client funds in segregated accounts. These measures help to ensure that customer funds are kept safe and secure. 

Don’t let regulatory status fool you; sometimes even regulated brokers can pose a threat. Make sure to check reviews, and trading conditions, and weigh the pros and cons before committing to a brokerage. 

Main Group FX Features

Trade CFDs on forex on over 55+ major, cross, and exotic currency pairs benefit from the industry’s tightest spreads. Additional assets that are available for trade include stocks, indices, metals, and energies. For seasoned traders, the company is a great choice due to the trading conditions it offers. 

Newbies can also profit from this company as there is a variety of educational material available, including e-books, glossaries, webinars, tutorials, videos, blogs, and tools like market news and an economic calendar. 

Instead of Main Group FX MT4, trading is available on a popular and well-known platform MetaTrader 5 for a minimum of $250, or you can make use of the web trader if that is what you prefer. The maximum leverage they offer is 1:30, which is the cap as per the Australian Securities & Investment Commissions.

There is no demo account to test the service before committing, however, hedging strategies, copy trading, and negative balance protection are offered, which can be convenient to a large group of traders. 

Main Group FX Account Types

There are a variety of options to choose from and each brings different features and additional benefits. Here is a breakdown of what you can expect: 

Basic

  • Spreads: From 1 pip 
  • Commission: 1 pip
  • Account Manager

Standard

  • Spreads: From 0.8 pip
  • Commission: 0.9 pip
  • Weekly Market Analysis
  • Trading Central

Advanced

  • Spreads: From 0.5 pip
  • Commission: 0.7 pip
  • Weekly Market Analysis
  • Trading Central

Premium

  • Spreads: From 0.3 pip
  • Commission: 0.5 pip
  • Weekly Market Analysis
  • Trading Central
  • Funded Account: 15k
  • Unlimited No-Fee Withdrawals

Pro

  • Spreads: From 0 pip
  • Commission: 0.3 pip
  • Trading Central
  • Funded Account: 30k
  • Unlimited No-Fee Withdrawals
  • Portfolio Assessment With Our Chief Trading Analyst

Main Group FX Reviews

The 17 comments on Trustpilot are mixed feedback, and the broker has a score of 3.5 stars. Considering they were established only last year, the number of reviews seems decent. The majority of the comments are favorable, however, more than 30% experienced some issues. 

Once the trader deposited $25,000, he was promised a 3% return each month, however, it’s been four months and he didn’t get one cent. One trader waited eight months for a withdrawal, another waited for two, and as you read the unfavorable comments you will notice most of them are regarding withdrawals. 

Instead of processing an instant withdrawal like it’s mentioned on the website, they try asking for more money and make you wait for a long time. If you’re experiencing the same issue, make sure to report them to the ASIC regulator. 

Payment Options and Process

There is a vast array of payment options to choose from, including credit/debit cards that offer instant payment, or any of the popular e-wallets like Skrill, Neteller, Korapay, GCash, and more. Additionally, you can also pay using a wire transfer or even cash. 

Requesting a withdrawal is easy; all you need to do is log in and press the button. The minimum withdrawal amount is 50$ and it’s processed on the same payment method used for depositing your funds. The withdrawal should be instant, however, there are some potential issues according to other traders. 

Weighing the Pros and Cons

Pros Cons
  1. Regulated by ASIC
  2. Diverse Range of Tradable Assets
  3. Comprehensive Educational Material
  4. Various Account Types
  5. Multiple Payment Options
  1. No Demo Account 
  2. Potential Issues Reported With Withdrawals
  3. Mixed Feedback From Traders
  4. Hidden Fees

Can I Make Money While Trading Online?

In conclusion, Main Group FX is a decent brokerage, however, there are potential withdrawal issues, so make sure to report them to ASIC if you have a bad experience. Either way, there are more reliable alternatives to choose from that offer great conditions. To find them all, check out our website for more information. 

Now, onto the real deal. If you are looking for a reputable and effective AI analysis bot, check out AI.F. Its features exceed normal due to its ability to process billions of data points quickly and provide insightful recommendations. 

No matter if you’re a seasoned trader or a newbie, you can enjoy the perks AI.F offers. It’s especially suitable for beginners due to the ability to skip years of education and stop relying on shady agents like this one. 

Call us now and start your profitable trading journey but before you commit, we invite you to try our bot for 14 days for free. Reach out immediately to grab this one-time opportunity to become a profitable trader. 

FAQ Section

What is Main Group FX?

MainGroupFX is a brokerage company based in Australia, that offers a platform to trade forex, indices, commodities, and CFDs.

Is Main Group FX Regulated?

Yes, the broker is regulated by a top-tier authority ASIC in Australia.

Is Main Group FX Legit?

Yes, the company is a legitimate business that is regulated by ASIC, so it’s a great choice for Australian investors.

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