MelbourneFX

Absolutely a scam they want to get hold of you superannuation and ghost you when you say no. Don't trust a word Johnny Kay saying to you he won't help me get the money out that I've already invested Show details

Over the last five months with MelbourneFX, I’ve learned more than I did in my previous two years trading on my own. When I decided to take trading seriously, I knew I needed proper guidance and structure. [Name Removed] made sure I understood each step and never felt lost along the way. He explained things clearly and helped me build confidence… Read more

instead of rushing decisions. For beginners especially, this feels like a supportive place to grow, learn, and trade with more clarity, patience, and realistic expectations over time.

Absoloute scam,,,,,Started with $500 USD now have $0.34 cents. What the hell does the Australian Federal Government do in their 1000's of offices...??? Show details

100% SCAM - Melbourne fx. I have just lost $120K AUD. These scammers don’t want you to withdraw any money. Every time you request a withdrawal, it ends up with you not being able to get those funds. They promise to grow your account, to increase its value through various events, and they try to convince you to leave your money there under the… Read more

pretense of growing it. Eventually, they claim that you’ll be able to withdraw every week, but in reality, that never happens. Over time, you might withdraw small amounts, but they actually push you to invest more and more. If you try to ask for a significant withdrawal, they become aggressive right away. These scammers will try every trick to convince you to leave your money in, promising that it will grow, but in truth, that money becomes their own and not yours. Everything you’ve invested ends up as their property. They’re interested in growing your account, and it does grow up to a certain point. But then, they start opening unprofitable positions without you knowing, and they close the profitable ones on purpose so that your account starts losing money. When you ask them why they’re doing this, they’ll claim they don’t have access to your account and that it must be you who does it. This is not a safe business with them.

You’re investing in a demo trading platform, and the only real money there is yours! Everything else is virtual and simulated.

They also have a psychologist (Big boss) who listens to all the conversations whenever the broker talks to you and tries to convince you to invest more money. They know exactly where to push you, and this psychologist oversees the entire process, ensuring they can get all the money from you. A vivid example of this is Alex Stein. He’s a broker, and he let it slip once about how it all works.

People please BE AWARE!

Just another scam report. Melbourne FX has now taken 13000usd from my trading account & will not return it. Surely, I can cancel this account & receive my money back. I was told to put more money into it to be able to withdraw the money. How can anybody be that stupid. DO NOT USE MELBOURNE FX. IT IS A SCAM. Show details

Absolute [Content Removed] Ask yourself do you have 100% control on this platform? Account managers will choose the time when you have to be broke, they all set the time to kick you out, easy process, they will find out how much you can afford the money, once they find your max funds limit , you have to count probably days on this platform n prepare to lose all money in minutes. Nothing in your control

Melbourne FX / Sydney FX are the same. SCAM SCAM. ASIC REPORTS THAT MELBOURNE FX AND SYDNEY FX ARE A SCAM. POSITIVE REVIEWS SUBMITTED BY MELBOURNE FX SCAM DO NOT TRUST SILVERGREENGOLD etc. Please, I implore you to view Sydney FX - Buzza08 negative review. The Trading Platform isn't real. Both Sabotage these Ghost Platform's. SCAM SCAM SCAM ALERT… Read more

ALERT ALERT SCAM SCAM SCAM ALERT ALERT ALERT SCAM SCAM SCAM Check out my withdrawl attachment of $341K USD. Pending. Melbourne FX do the same. Investor beware. Do not believe their lies, do not deceive wallets whereby Sydney FX / Melbourne FX instruct you on how to get around security check's. WAKE UP AUSSIE'S. DO NOT TRANSFER ANY $$$ and if you feel obligated to transfer $$$ because you signed a Bonus Agreement. These Bonus Agreement's are a TRAP. SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM

Scam of a company. I invested a small amount for the first two weeks, which made a small profit. Then to continue I had to invest more - I put in $2000 AUD which then started making money. I was always wary of this but my account manager John Copper (John Cooper) maintained the risk was very minimal because of the AI intelligence used.… Read more

Well......stock market went haywire and my MINIMAL RISK was a joke - I lost all of my profit in three days. I then closed my open trades as I didn't want to lose any more. I went to withdraw the money I had except they cancelled my transaction. When I questioned this I was told by my account manager that I had traded by myself, which was a complete load of rubbish. When I looked at my transactions, someone had traded on NaturalGas, something I had never even looked at. I made numerous phone calls, none of which were pleasant and then suddenly the money reappeared back in my account. I am still trying to withdraw the balance of my money but it's not letting me. I want nothing to do with this company. BEWARE anyone wanting to deal with them.

This is definitely a [Content Removed] site... You get calls outside of business hours, which should be a major tipoff... You also get multiple people who claim to know your file, and are insanely eager to get you to spend large amounts of money in short order - even to setup... What do I mean by insanely eager? Try this, I signed up on… Read more

Sunday night, shortly before midnight, and yet somehow I got a caller who claimed to be from New South Wales trying to get me to part with $400 for an initial investment. I said I wanted to wait up to two weeks until I could get second opinions, before putting money in. They said they would respect my decision, and "would put it on my file".

Not even twelve hours pass, and I miss three calls whilst at work - ALL FROM DIFFERENT landlines! I call back one, and get put back onto another call centre operator, who claims I don't have a file, and that I need to put my money in now. I ended the call saying I was going to wait at least a week. And now, before I even start work, I got another call, this morning, with a particularly inept operator who quickly lost his cool, and decided to try and force me into spending immediately without respecting my decisions.

Unfortunately I lost my temper by this point and gave a few insults when he started threatening me, and hung up on him...

It’s definitely a [Content Removed] site. If you deposit money and place orders yourself, you'll be charged high transaction fees. Plus, everything inside involves high-leverage investments, and if you're not careful, you could lose all your principal in no time. The broker can place orders directly using your account from their backend, which is… Read more

very suspicious. Ever since I became a member, I’ve been bombarded with harassing phone calls every day. When I finally tried to close my account and asked the broker to stop contacting me, I still kept receiving tons of spam calls.

To make things worse, since they're calling from another country, the calls always come after 8 PM—sometimes even at 10:30 PM when I’m already asleep. Yet, the broker still keeps calling, and it’s extremely frustrating.

If you're thinking of signing up, be prepared to deal with endless harassment!

Beware of MelbourneFX, many traps to hold and burn your hard earned cash – I realised that the same “Powered by Unlimited LTD” is the umbrella running many sites including: melbournefx.io, sydfx.io, unlimitedfx.io, wallstreet-fx.io and many others. I have been trading for 8 years and started with SydneyFX (exactly the same website as MelbourneFX) in July 2024 I was approached by an Account Manager (AM) and below is a… Read more

detailed account of my experience:

++Withdrawal: 0/10: WARNING!!! Signing a ‘Bonus Agreement’ effectively locks withdrawals unless a near-impossible trading volume is met. You need to meet a ridiculous volume trading of 50,000 * (Bonus + Total Deposit). In my case, this equates to $2.6 billion in trading volume, generating $850,000 in commissions for SydneyFX. The terms were not disclosed upfront at all, and [Name Removed] provided misleading explanations. All for $3000 bonus that we signed only after a few weeks. [Name Removed] conned us by saying that this bonus comes in handy when you trade. The agreement only refers to Bonus Agreement but they lock you in the rest of your funds. We disagreed with this interpretation, [Name Removed] said No. We asked to change him, we received a No (all Account Managers are all busy). We asked to speak to someone to discuss the terms, we received a simple No from [Name Removed]. [Name Removed] is the gatekeeper who tells us what we can and cannot do with our account.

++ Trading strategy: ANOTHER TRAP!!! You will be recommended to enter Index such as Nasdaq100 (NQ100), Bitcoin BTCUSD, Ethereum ETHUSD, Solana SOLUSD depends on your interest. Do not enter as they charge a huge mark up in commission (more than 800% than industry standards). They will ask you to profit at minimal points (30 for NQ100) daily so they can earn this exorbitant commission. This will burn your account before you know it. When the market turn south, they will ask you to HEDGE!!! This hedge along with your existing trades + daily commissions quickly evaporate your funds and profits if any. They will ask you to deposit more, and this repeats.

++ SydFX regulation and legitimacy: 0/10 SydneyFX is not regulated. The company claims association with Unlimited LTD (registration number Rego No: HY00723418), but this registration is not listed under CySEC. They have a range of other website: https://sydfx.io/ , https://melbournefx.io/, https://unlimitedfx.io/, https://wallstreet-fx.io and many others. They all operate under the same group in different skins. Tracing the funds in crypto, you can see they eventually end up in Kraken wallets before being disappeared!!!

++ Service: 1/10 : there is no reliable customer support. The assigned account manager [Name Removed], is manipulative and unprofessional. Despite numerous calls and emails, requests such as change the account manager or addressing withdrawal issues remain unresolved. Withdrawal attempts, even for a small amounts like $50, are consistently rejected despite a significant account balance of $130,000+

++Commission charge: 1/10: SydFX charges exorbitant commissions compared to industry standards. For example, trading 1 lot of AUDUSD incurs a fee of apprx $25.73, while reputable Australian platforms like CMC or FXCM charge around $2.99 – a markup of over 860%.

++Trading Platform: 1/10 : the platform lacks essential features and is overly simplistic. It does not show commissions for CFDs, has no “close all” or one-click trading functions, which are critical for strategies like scalping.

++Arbitrage 1/10: the arbitrage strategy initially appeared profitable. Trades involved buying and selling BTCUSD- labelled products (BTCUSD.UNL, BTCUSD.SLC, BTCUSD.WSE) to generate daily profits through swaps (a long swap of -25 for buying and a short swap of 75 for selling). However, SydFX retains the ability to disable this arbitrage mechanism at any time by turning them into negative swaps. In short, you shall lose your money daily.

++Conclusion: based on the above, MelbourneFX, SydneyFX is definitely an elaborate [Content Removed]. Avoid all of their “Powered By Unlimited LTD” umbrella. If you are considering depositing or adding funds, please do not proceed. If you have funds deposited, avoid further deposits at all costs. The trading volume targets are unattainable, and the system is designed to trap you. You will end up blowing up your account before you can touch your money.