Withdrawl Issues with broker Magking Fx

Hi All, I am looking for your advise regarding my deposit withdrawl issue with Magking fx. I am trading on Meta Trader 4 with having broker Magking Fx who actually based in Hong Kong that was my biggest mistake to choose them with out even doing market research now in short my deposit and earn money is stuck with them when ever i submit request for withdrawl the make it INVALID while trying to approach there customer services they dont bother to reply and if they reply simply say contact your broker when actually they are my broker. Please advise on this how to sort it out and recover my money from these scammers. Thanks

Hi, contact with regulator. Regards Greg

Contact the regulator

A problem that sometimes occurs when trying to withdraw money from a broker is when the client asks for the money to be paid into a different account than the one from which the deposit was originally made. Have you changed bank accounts, are you trying to get money back in a different way?

How can I found who is regulator.

I have deposit through binance. I deposit from my bank account to binance account for the first time and second time deposit by card to my binance account and both times I deposit from my binance wallet to magking. Now when I am trying to withdraw in the same way from magking my broker to my digital wallet of binance from
Where I deposit they say it’s invalid and there is no customer services of them to help it out also.

Couple of things to check:

  • Have you verified your Binance account for fiat deposits?

  • Also, if moving non-fiat, perhaps you need to generate a new deposit address in Binance to send to from your broker?

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Woah, are they part of xm? Why is their website exactly similar to XM?

It sounds like the issue could be with Binance and/or your choice of that route to make a deposit with your broker, though I am sorry to say I’m not familiar with how it works.

Firstly, you should try to contact their support through chat portal or the official email and ask them about the trouble& the reason for that. If you are not satisfied with it, you can reach out to the regulator and take the matter with them.

I noticed the same. Something’s definitely fishy there. I wonder how can someone trade without researching much.

Perhaps some people are just too excited to jump straight in without thoroughly thinking of repercussions.

You are right, and that’s why there are more traders who fail than succeed in trading.

Looks like the OP didn’t research well to find a good broker and a good way of making investments. I am not sure why Binance is causing an issue because I have used it and faced no issues with my withdrawals and deposits. It might be something else that we are not aware of.

Only the regulator can help you in this case.

That’s why it is always suggested to do your research well before you risk your money with a broker. I personally find Binance quite difficult to use, so I prefer making payments through my credit card always.