Reported as a scam / unregulated
Why MGF Capital is on the register
While MGF Capital’s website claims to be registered with the Australian Securities and Investments Commission (ASIC), it conspicuously omits critical details such as its legal entity name, license number, and registered business address, making independent verification extremely difficult. During our investigation, we did locate a similarly named entity in ASIC’s public register: MGF CAPITAL PTY LTD, which has held an ASIC license since 2012. However, this legitimate company has not registered any domain names with ASIC, and more tellingly, the website of MGF Capital was only bulit in January 2025. This significant time gap strongly suggests that the platform may be impersonating the licensed entity by misappropriating its regulatory credentials to appear legitimate. Given these red flags, MGF Capital appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you to the right next step. A free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.