Score
MGFX
United States|5-10 years| http://www.mgfxcg.com/zh-cn/
Website
Rating Index
Contact
Licenses
Licensed Institution：MG FINANCIAL LLC
License No.：0308808
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United States
5-10 years Suspicious Regulatory License Suspicious Scope of Business United States Common Financial Service License Unauthorized Suspicious Overrun High potential riskUsers who viewed MGFX also viewed..
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Company Summary
General Information & Regulation
MGFX is forex broker registered in United States, mainly target the Chinese Market. WinMarket is operating without any license whatsoever, so investing with this broker can be risky.
Markets Instruments
MGFX advertises that it can offers a wide range of trading products, including forex currency pairs, commodities, indices, stocks, cryptocurrencies.
Minimum Deposit
The minimum initial deposit is $200. Although this amount is reasonable for most brokers, given the fact that MGFX is not subject to any regulation, traders are not advised to register real trading accounts here.
Leverage
MGFX says to provide leverage of up to 1:500. Trading with an unregulated broker offering generous broker is not a good option. High leverage levels provide huge profit potential, but they also involve great risks because any losses incurred will be multiplied.
Spreads & Commissions
MGFX advertises that its spreads as low as 0 pips, but through a demo account we saw that theyre actually not attractive at all – floating around 2.5 pips on the EUR/USD pair.
Trading Platform Available
MGFX offers the MetaTrader4 (MT4), which is still considered one of the best forex terminals. The MT4 offers top-notch charting with many indicators, multiple types of orders, as well as wide range of Expert Advisors for automated trading. And those who have some knowledge of coding can create EAs and Indicators of their own.
Deposit& Withdrawal
MGFX accepts card payments, wire transfers. It should note that out of these three only credit cards can grant you the ability to file a chargeback, and in quite the long period of time – 540 days from the date of the transaction.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- United States Common Financial Service License Unauthorized
- Suspicious Overrun
- High potential risk
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FX1250823786
Pakistan
it's a scam! I see it at Facebook. it's gold scam!
Exposure
2021-04-28
bobby
Hong Kong
Other platforms’ trading software don’t include the red long lower shadow line in the pictures. The loss stops got whacked.
Exposure
2019-04-03
FX5959562515
Hong Kong
The withdrawal in MGFX has been unavailable since 20th.The customer service always said that he has helped to urged relevant department.Since 15:00 yesterday,the website was disabled and the customer service were out of contact.
Exposure
2018-12-25
FX5959562515
Hong Kong
MGFX fraud platform induced clients to deposit fund and trade,giving no access to withdrawal.Hope Fxeye bring justice to me.
Exposure
2018-12-25
FX4359119368
Hong Kong
On the afternoon of December 20th, the quotations could not be updated. After I re-downloaded the trading software, all the operation records were gone, and the account balance was all blank. After that, I found that the official website could not be opened. When I turned to the customer service personnel, they said that the system upgradation would take a week. Today, I tried the company’s phone call, only to find it is empty. Later, I found the customer service personnel deleted my QQ account... I just deposited money on 17 ... Now there is no information.
Exposure
2018-12-21