How to Verify MMG Trades and Report Suspected Fraud

Before depositing money into MMG Trades or any online trading platform, Ugandans should take the following steps.

1. Verify its regulatory status

Contact the Capital Markets Authority (CMA) Uganda through its official website at cmauganda.co.ug. Ask whether MMG Trades, its operating company and the specific trading services it offers are authorised to serve Ugandan residents. Request confirmation of the company’s registered legal name and licence details. Do not rely solely on claims made on the platform’s website or by its agents.

2. Verify the company’s identity

Check the legal name of the business operating the platform, its country of registration, registered address and the identity of the entity receiving customer deposits. If the operator claims to hold a foreign licence, verify that licence directly with the named regulator.

3. Report suspected misconduct

If you have experienced unexplained withdrawal delays, withheld funds, misleading representations or other suspicious activity, report the matter to the relevant authorities:

• Capital Markets Authority Uganda: cmauganda.co.ug — for concerns about investment services and regulatory authorisation.
• Uganda Police Force: upf.go.ug — for suspected fraud, theft or other potentially criminal conduct. You can also visit your nearest police station.
• Bank of Uganda: bou.or.ug — where the complaint involves a regulated financial institution or a relevant payment service.

4. Preserve your evidence

Keep copies of deposit and withdrawal receipts, mobile money transaction IDs, account statements, screenshots of trading activity, conversations with agents, website addresses and any promises made about profits or withdrawals. Never share your account password, PIN or one-time verification codes with anyone claiming to investigate your complaint.

5. Submit a report to FraudAlertUG

If you believe you have encountered suspicious activity involving MMG Trades, submit a report through the FraudAlertUG reporting form. Include the date, amount involved, transaction evidence and a description of what happened. Clearly distinguish personal experience from information you have heard from others. Do not publish sensitive personal or financial information publicly.

Important Notice

A platform’s absence from a regulator’s published list is a reason to seek clarification, but it is not, by itself, proof of fraud or illegality. FraudAlertUG encourages independent verification and evidence-based reporting. Until the platform’s authorisation has been confirmed, users should exercise caution and avoid risking money they cannot afford to lose.

Have you used MMG Trades in Uganda? Share a factual account through our reporting channel to help others assess the risks. Reports may be reviewed before publication to protect privacy and reduce the spread of unverified allegations.