Withdrawal Delays and Regulatory Doubts: Trader Raises Complaint Against Mirrox

BrokersView has noted a trader's complaint alleging that the broker Mirrox (Capital Crest Ltd) has created serious withdrawal difficulties and engaged in behavior that pressured clients into excessive trading.

According to the complaint, the trader's account held more than $60,000, but multiple withdrawal attempts were rejected. Mirrox allegedly required the trader to cancel an earlier large withdrawal request of around $38,000, and instead submit smaller withdrawals of $10,000 each. Although the first withdrawal was eventually processed, the company subsequently delayed further payments, citing "compliance review" and "internal procedures."

The complainant also stated that Mirrox repeatedly pressured them to engage in high-frequency trading and deducted significant overnight swap fees from the account, causing a steady decrease in equity. The trader believes such actions may constitute "artificially induced losses" or "predatory charges," and has filed a complaint with Mirrox's claimed regulator—the Mwali International Services Authority (MISA).

According to BrokersView's records, Mirrox operates under the legal entity Capital Crest Ltd, claiming to be regulated by MISA of the Comoros and to hold an "International Brokerage and Clearing House" license. However, MISA is an offshore regulator whose effectiveness and investor protection mechanisms have long been questioned. BrokersView's database also shows no valid authorization from major financial regulators such as the FCA, ASIC, or CySEC.

Traders facing similar situations have noted that as a third-tier offshore regulator, MISA exerts very limited supervisory power, has no investor compensation fund, and offers minimal enforcement. Therefore, the likelihood of obtaining meaningful assistance through a MISA complaint is considered low.

Meanwhile, a user in the BrokersView Q&A section has also inquired whether Mirrox offers a "welcome bonus." This indicates that the platform continues to attract potential clients through promotional activities. BrokersView cautions traders to be wary of such "bonuses" or "rebate" offers, as these incentives are often used to encourage repeated deposits and high-risk trading, which may expose clients to greater financial risks.

As of recently, the trader reported that Mirrox has stopped responding to emails. BrokersView will continue to follow this case and reminds traders to always verify a broker's regulatory status and track record before depositing funds, in order to avoid potential security risks.

BrokersView Reminder

If you have been a victim of forex fraud or have discovered suspicious or improper practices by a broker, please contact us by submitting a complaint through BrokersView.