Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
8/10 · CriticalNo valid financial licence: a Saint Lucia IBC is not regulation, and the Mwali (MISA) registration is a non-recognised offshore registration whose stated term ended in November 2025; not on any BAPPEBTI or tier-1 register.
Identity & transparency
5/10 · ModerateDiscloses a real legal entity, a Saint Lucia number and a Bangkok office, but runs a Saint Lucia shell from Thailand, makes an unverifiable Bulgarian custody claim, and operates several mirror domains.
Withdrawals & conduct
4/10 · ModerateNo confirmed pattern of refused or stolen withdrawals; the documented complaints centre on widening spreads and platform stability, which are service-quality issues and are capped accordingly.
Reputation
6/10 · HighIndependent aggregators rate it unregulated and high risk, but the negative signal is driven by its offshore status and generic scam-farm pages rather than a documented multi-platform fund-theft pattern.
Website claims
6/10 · HighPresents a near-worthless, lapsed MISA registration as regulation and claims unverified segregated custody at a Bulgarian bank; no fabricated tier-1 licence or guaranteed-profit claims were found.
Operational history
3/10 · LowVerified long history (online since 2014, entities from 2009 and 2015) lowers this, offset by repeated entity and jurisdiction churn and removed New Zealand registrations.
Who they are
A quick desk file on the company behind the brand.
- Brand: Maxrich Group / MRG (MRG Traders Network)
- Legal entity: Maxrich Group LTD
- Registered: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia (IBC 2023-00526)
- Operating office: 571 RSU Tower, Sukhumvit, Bangkok, Thailand (phone prefix +66)
- Website: mrg.ltd (the website recorded on the MISA licence is mrgforex.com)
- Only licence: Mwali (MISA) brokerage registration T2023410, term to 20 Nov 2025, a near-worthless offshore registration
- Offers: retail forex and CFDs, leverage up to 1:500, minimum deposit from 50 USD, tiered accounts, cashback bonus
- Not accepted: USA citizens
- Age claim: online since 2014; brand traces to New Zealand entities from 2009 and 2015 (both removed)
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Mwali International Services Authority (MISA)
Why we reached this verdict
How the evidence adds up.
We rate Maxrich Group high risk because it takes retail deposits with no meaningful regulation, while we found no proof of outright theft.
- No valid financial licence. A Saint Lucia IBC is only a company registration, and the Mwali (MISA) registration comes from a registrar that mainstream regulators do not recognise and that the Comoros central bank has publicly disavowed. Its stated term also ended on 20 November 2025.
- Unlicensed where it sells. The broker markets to Indonesian and Thai clients but holds no BAPPEBTI or Thai licence. The only BAPPEBTI-registered 'MRG' is an unrelated Indonesian company, PT MRG Mega Berjangka. Offshore sites like this are routinely blocked in Indonesia, and the operation runs several mirror domains.
- Real but churned history. Company records show Maxrich forex entities in New Zealand from 2009 and 2015 that were later removed, then a 2023 Saint Lucia company and a new main domain in late 2024. The brand is old, but the entity and address standing behind client money keep changing.
- Weak reputation. Independent review sites flag it as unregulated and high risk. The complaints we saw focus on widening spreads and platform problems rather than documented stolen funds.
- No confirmed fraud. We found no regulator fraud action, no court record, and no verified pattern of refused withdrawals. That is why this is a high-risk warning rather than a confirmed-scam finding.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Mwali (MISA) register lists Maxrich Group LTD (MISA company HY01123440) with brokerage licence T2023410, issued 20 Nov 2023 and ending 20 Nov 2025, and records the licensed website as mrgforex.com, an anchor domain. The stated term has passed.
E2The MISA authorised brokerage list still shows Maxrich Group LTD at entry 125 flagged Active, even though the individual licence record gives an end date of 20 Nov 2025, showing the registrar does not keep status current. MISA is a non-recognised Comoros registrar.
E3The broker's own About page names Maxrich Group LTD, Saint Lucia registration 2023-00526, a Rodney Bay registered address, and a Bangkok operating office. A Saint Lucia IBC is a company registration, not a forex licence, and Saint Lucia does not license forex brokers.
E4New Zealand Companies Office records show two former Maxrich forex entities: Maxrich New Zealand (Foreign Exchange) Limited (incorporated 2009, removed) and Maxrich Group Limited (incorporated 2015, removed, with an Indonesian director). This shows a long brand lineage and repeated entity churn.
E5maxrichgroupltd.com was registered in March 2014, and an archived 2016 snapshot shows genuine Maxrich Group content, confirming the operation is a real, long-running business rather than a fresh site with a fake history.
E6The current main domain mrg.ltd was registered on 4 Dec 2024 and a further Indonesian domain, mrg-idn.com, on 16 Mar 2026, alongside older domains; the operation runs multiple domains, a pattern used by offshore brokers to keep operating after regional blocks.
E7The BAPPEBTI register shows the licensed Indonesian MRG is PT MRG Mega Berjangka (formerly PT Askap Futures), a separate Jakarta company. Maxrich Group LTD is not on the BAPPEBTI licensed-broker list, so it is unlicensed for the Indonesian retail clients it markets to.
E8A third-party review site flags maxrichgroupltd.com as unregulated and high risk, but the content is generic and carries no specific, verifiable user complaints with amounts or dates.
E9The About page claims client funds are held in a segregated account at 'Pireus Bank, Bulgaria', an unverifiable custody claim that is also misspelled, with no supporting evidence.
E10The live site presents the Mwali (MISA) registrar as its regulatory credential in the footer, even though that registration is near-worthless and its stated term ended on 20 Nov 2025.
ModerateMaxrich Group LTD websiteE11The broker discloses a consistent legal entity, Saint Lucia registration number, Bangkok office and contact details across its site and the registers, is not impersonating a regulated brand, and publicly warns clients about impersonators using its name.
ModerateMaxrich Group LTD website
The other side
The strongest case in this broker’s favour.
In fairness, several things point away from an outright scam:
- The company is genuinely old. Archived pages show Maxrich content from 2016, and the main brand domain dates to 2014, so this is not a throwaway site.
- It discloses a real legal entity, a Saint Lucia registration number, and a physical Bangkok office with a phone number, and it openly warns clients about impersonators using its name.
- It holds a genuine, if weak, MISA registration that appears on the Mwali registrar's own records, rather than a fabricated or stolen licence number.
- It is not impersonating any well-known regulated firm. Maxrich and MRG are its own brand.
- We did not find a cluster of specific, checkable complaints about stolen withdrawals, which is what an active fund-theft operation usually generates.
What would change this
What we would need to see to revise the verdict.
We would revise this rating if:
- A cluster of specific, verifiable complaints appeared describing refused or reversed withdrawals, frozen accounts, or demands for extra fees to release funds. That would move it toward likely scam.
- A financial regulator published a fraud warning or enforcement action naming Maxrich Group LTD or its domains.
- The broker obtained and evidenced a genuine tier-1 or tier-2 licence covering the clients it serves. That would move it toward lower risk.
- Clear evidence emerged that client funds are genuinely segregated and protected.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Mwali (MISA) licence verification for Maxrich Group LTD
Shows licence T2023410, issued 20 Nov 2023, term to 20 Nov 2025.
Mwali (MISA) authorised brokerage list
Entry 125 lists Maxrich Group LTD, licence T2023410.
New Zealand Companies Office: Maxrich Group Limited (removed)
Former New Zealand entity, incorporated 2015, now removed.
New Zealand Companies Office: Maxrich New Zealand (Foreign Exchange) Limited (removed)
Earliest Maxrich forex entity, incorporated 2009, now removed.
BAPPEBTI register: the licensed Indonesian MRG is a different company
PT MRG Mega Berjangka is BAPPEBTI-licensed and unrelated to Maxrich Group LTD.
Frequently asked questions
Quick answers about this broker’s safety.
Is Maxrich Group a scam?
It is a high-risk, effectively unregulated offshore broker. We did not find proof of outright theft, but it has no meaningful regulation, so there is no safety net if it delays or refuses to pay you.
Is Maxrich Group a fraud?
No regulator or court has found Maxrich Group LTD guilty of fraud, and we found no fraud-related enforcement action or court record naming it. It is, however, an unregulated offshore broker, so we assess the risk to client money as high.
Is Maxrich Group regulated?
No. It is a Saint Lucia company (registration 2023-00526, which is not a licence) with a Mwali (MISA) offshore registration that regulators do not recognise and whose term ended in November 2025. It holds no tier-1 or tier-2 licence.
What is the MISA licence worth?
Very little. Mwali International Services Authority is a Comoros island registrar, not a real financial supervisor, and the Comoros central bank has disavowed its licences. It gives you no compensation scheme and no meaningful oversight.
Can I withdraw my money from Maxrich Group?
Some users report normal activity, but because the broker is unregulated there is no authority to help if a withdrawal is delayed or refused. Test small amounts, keep records, and never pay an extra 'fee' or 'tax' to unlock a withdrawal.
Is my money safe with Maxrich Group?
Your funds are not protected by any recognised regulator or compensation scheme. The site claims funds sit in a Bulgarian bank, but we could not verify this. Treat your capital as at risk.
Who owns Maxrich Group?
The current entity is Maxrich Group LTD, a Saint Lucia company operating from Bangkok, Thailand. Earlier New Zealand companies tied to the brand (from 2009 and 2015) were removed from the register.
How old is Maxrich Group?
The brand has been online since about 2014 and traces back to a 2009 New Zealand entity, so it is a long-running operation. It re-registered in Saint Lucia in 2023 and launched its current main site, mrg.ltd, in late 2024.
Is Maxrich Group a clone of another broker?
No. Maxrich and MRG are its own brand and it is not impersonating a well-known regulated firm. Note that a separate, unrelated Indonesian company, PT MRG Mega Berjangka, shares the MRG initials but is a different, locally licensed business.
Is Maxrich Group legal in Indonesia?
It is not licensed by BAPPEBTI, Indonesia's futures regulator, and offshore forex sites like this are routinely blocked there. The BAPPEBTI-licensed MRG is a different company. Trading with an unlicensed broker leaves you without local protection.
What should I check before depositing with any broker?
Confirm a tier-1 or tier-2 licence on the regulator's own register, check that the licensed website matches the site you use, read independent reviews for withdrawal complaints, and start with a small test withdrawal before sending larger amounts.
What do I do if I was scammed by Maxrich Group?
Stop depositing, gather evidence (transfers, chats, IDs), contact your bank or card issuer about a possible chargeback, and report to your national regulator or police. Be wary of 'recovery' services that ask for an upfront fee, as many are second scams.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since September 18, 2026
- September 18, 2026CurrentHigh risk (unverified)56% risk
- September 18, 2026High risk (unverified)66% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
If you are considering, or already using, Maxrich Group:
- Treat it as an unregulated offshore broker. Do not deposit money you cannot afford to lose.
- Understand that a Saint Lucia IBC and a Mwali (MISA) registration give you no compensation scheme and no real complaint route.
- If you are in Indonesia or Thailand, check your national regulator's licensed-broker list first. Maxrich Group LTD is not on them.
- Keep records of deposits, chats, and withdrawal requests. If a withdrawal is refused, or an extra 'fee' or 'tax' is demanded before release, stop paying and report it to your local authority.
- Prefer brokers licensed by a tier-1 or tier-2 regulator such as the FCA, ASIC, CySEC, or MAS.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 18, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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