Mugan Markets Review – Is it a Scam?

Short answer – yes. Mugan Markets is an offshore brokerage operated by Ed Zimbardi and his partners. This brokerage is unregulated and you WILL lose your money. Guaranteed. All Mugan Market reviews you find on sites like Trust Pilot are fake. They started generating fake reviews in July of 2023 to gear up for launching new scams on this platform.

EDIT: Just a few days after posting this article – this website was DDOS attacked (millions of requests sent to the server to try to take this site offline). This should tell you everything you need to know about the kind of brokerage this is.

This brokerage is a reboot of the scam brokerage named IMGFX. All of the positive reviews about IMGFX are fake and paid for by Ed Zimbardi. IMGFX has lots of fake reviews too but after they stole everyone’s money multiple times, the bad reviews poured in.

Mugan Market hasn’t stolen the money yet, but it will, and that’s a guarantee.

So, you’ve been invited to an opportunity that requires you to open an account with Mugan Markets and you’ve landed on my site. The site seems a little “off” doesn’t it?

I cover scams and Ponzi schemes online. The opportunity you were invited to is 100% a scam and Mugan Market brokerage is also 100% a scam. Stear clear of it.

How is Mugan Markets a Scam?

Mugan Markets is a scam for a few reasons. I’ll get into a few of them. I do this to try to protect people and investors from career scam artists and I’ve never been wrong when I call something a scam. You can check my track record on YouTube. 100% success rate.

Ed Zimbardi is One of the Owners of Mugan Markets

Mugan Markets is partially owned and operated by Ed Zimbardi. Zimbardi is a career conman who has run at least four different scams in the last few years. He has stolen well over $50,000,000 through three different PAMM accounts and a large Ponzi scheme called CryptoProgram (also known as AMSYS).

Mugan Markets is just IMGFX Rebooted and Rebranded

This is a reboot of IMGFX.

Here is proof showing they just duplicated the website and changed names. Look at the title in the top left even though it’s the Mugan Markets website.

IMGFX was closed down and set up again under the Mugan Markets brand. The reason is that Ed Zimbardi used IMGFX to orchestrate multiple PAMM account scams.

People deposited money into IMGFX under the encouragement of Ed and his affiliates. They were paid a percentage every month for some time, and when they wanted to withdraw all of their money, all of a sudden the “chief traders” lost all of the money. The money all disappeared.

The money didn’t disappear because of bad trades, however. It disappeared because there were no traders, Ed faked all of the trades, and the money was simply cashed out through a backdoor of IMGFX. The SAME THING WILL HAPPEN WITH MUGAN MARKETS.

Mugan Markets Other Scams

Other scams have used Mugan Markets. For example, Ed’s friend, Scott Morris, has used Mugan Markets for a scam called Stable Trading. People deposited over $1,000,000 into the Stable Trading scam and guess what? The money disappeared. Scott blames the brokerage. In reality, Scott and Mugan Markets likely teamed up to split the money that was deposited. That’s how these scams work.

Another scam was operated by Corina de Jong (Corina de Van der Kooi). She was arrested in the Netherlands for a suspected fraud of over €56,000,000 Euros. She was using the Mugan Markets brokerage. In court, Ed Zimbardi was brought up as the suspected founder of Mugan Markets.

Mugan Markets Offshore Brokerage

Mugan Markets is an offshore brokerage that’s not regulated. Now, maybe you think it’s a good thing that it’s not regulated because you don’t want to pay taxes and don’t want the government in your business.

Ok, I get it, but you have no protection and no recourse after this brokerage steals your money. And they WILL steal your money.

Even if the opportunity you are presented with has “been paying for months or years”, your money will end up disappearing. You won’t be able to request your money back and you’ll get back less than you put it.