Mahamudra

Note: Mahamudra's official site - https://www.192.com.hk/en is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

What is Mahamudra？

Mahamudra Company Limited is a financial trading platform that has been operational for approximately 5-10 years. It is a company that has been registered in New Zealand.

The company purports to be regulated by the Financial Service Providers Register (FSPR) and the Chinese Gold & Silver Exchange Society (CGSE) but it has been highlighted as a potentially suspicious clone of an established company. This allegation raises concerns about the legitimacy of Mahamudra's regulatory status.

Mahamudra currently lacks an official website, which substantially limits the potential for transparency and the possibility of gleaning further information about the company's operations and services.

Pros & Cons

Pros:

• Experienced Broker: With a history spanning 5-10 years, Mahamudra has been in the financial trading industry for a relatively substantial duration, which often equates to invaluable experience.

• MT4 Offered: The broker provides customers with the popular wide-used trading platform MT4.

Cons:

• Suspicious Clone Regulatory Licenses: The claim about Mahamudra's regulation by the Financial Service Providers Register (FSPR) and the Chinese Gold & Silver Exchange Society (CGSE) is understood to be potentially untrue, given suspicions about it being a clone firm. This presents an element of risk and uncertainty for investors.

• Unavailable Website: The absence of an official website restricts transparency and access to critical information about the company's operations, which raises questions about the broker's legitimacy.

• Delayed Customer Support: Whether through their provided phone number, QQ contact, or email, customers have reported delays in response to Mahamudra's customer service, which can be disheartening and problematic.

Is Mahamudra safe or scam？

Mahamudra Company Limited purports to be regulated both in New Zealand by the Financial Service Providers Register (FSPR) and in Hong Kong by the Chinese Gold & Silver Exchange Society (CGSE). However, there are suspicions that both registrations might be clone licenses, which raises serious concerns about the firm's regulatory status and consequently its security.

In New Zealand, the license number provided is 572807 with the registered institution being BHP TRADING GROUP LIMITED. The effective date of this purported license is October 6, 2017, and the party can be contacted via an email address, solomonpac@yahoo.com, and a phone number, +61 405 939 933. The license type mentions “No Sharing”, which may suggest that it cannot be used in conjunction with other operations. The purported office address is in Auckland.

In Hong Kong, the license number is 192. There isn't an effective date or expiry date available for the license.

Mahamudra, an investment platform, has had three primary issues lodged against it by its users. Firstly, numerous users reported being unable to withdraw their funds, even after pursuing this with the platform, with one user even resorting to police involvement after a requested withdrawal of 200,000 was never received. Secondly, there have been complaints suggesting that the platform may be functioning as a pyramid scheme. Finally, users highlighted a severe lack of response from the customer service of Mahamudra. In a notable case, an insider is alleged to have revealed a fund chain issue that was causing withdrawal problems, raising suspicions of illicit activity on the platform.

What's more, an inspection team investigated the reported New Zealand office of Mahamudra and found no trace of the company. The building at the specified address did house three companies, but none were named Mahamudra. Moreover, Mahamudra's CGSE A1 (No. 192) and FSPR (No. 572807) licenses have been cancelled, indicating that the company operates without regulation.

Trading Platforms

Mahamudra Company Limited provides its users with the MetaTrader 4 trading platform, one of the industry's most renowned trading software. MetaTrader 4, also known as MT4, is equipped with a range of tools and features that aid traders in performing comprehensive market analysis, managing trades efficiently, and even automating their trading strategies using Expert Advisors.

User Exposure on WikiFX

Three clients made accusations of incidents where they had applied for fund withdrawal, yet received no action or response from Mahamudra. In one report from January 17, 2018, the client alleged that they were unable to withdraw 200,000 (currency unspecified), despite Mahamudra assuring that the process was being managed. The funds did not arrive and further attempts to contact the firm were unsuccessful.

Likewise, in a report from December 2018, a client voiced the same concern when a withdrawal request made on November 20 was unserviced by December 6. They also reported that customer service did not respond to their inquiries and suggested suspicious behavior from the platform's side.

Lastly, another user complained about the withdrawal of 1000 USD not being fulfilled even after nine days. This exposed clear payment issues with Mahamudra, contradicting what the account manager allegedly promised about the safety and expediency of fund transfers.

Customer Support

The customer support of Mahamudra can be reached via various channels. You can contact them by phone at either +852 3705 5878 or +852 5971 4268. They are also reachable on WeChat with the user ID mahamudra_cs and on QQ with the ID 3069535977. Additionally, you can reach them over email at info@192-hk.com.

Conclusion

Mahamudra Company Limited, a veteran trading platform of 5-10 years, offers services through the familiar MT4/5 platforms. Despite its seemingly robust offering, Mahamudra sports a number of red flags including suspicions of cloned regulatory licenses from FSPR and CGSE, unavailable website, potentially delayed customer support, and being a white-label broker on the MT4/5 platform. What's more, Mahamudra Company Limited is an illegal broker with expired licenses and has been listed on WikiFX's Absconded list, indicating a high level of risk for potential clients. Given these concerns, investors are advised to exercise caution when dealing with this broker.

Frequently Asked Questions (FAQs)

Q: What regulatory licenses does Mahamudra claim to hold？

A: It alleges to be regulated by FSPR and CGSE, although both are suspected to be clone licenses.

Q: How can I contact Mahamudra's customer support？

A: Mahamudra can be reached via Phone: +852 3705 5878; +852 5971 4268; Wechat: mahamudra_cs; QQ:3069535977; Email: info@192-hk.com.

Q: What trading platforms does Mahamudra offer？

A: The firm provides services through the MT4 platforms.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.