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Suspicious Clone
Score
1.52 /10
Danger
MG
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
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Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index7.05
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
2
Previous Detection :
2024-12-24
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The China Hong Kong CGSE regulation (license number: 023) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
| MG Review Summary | |
| Founded | 2001 |
| Registered Country/Region | Hong Kong |
| Regulation | Suspicious Clone CGSE License |
| Market Instruments | Precious metals |
| Demo Account | Not Mentioned |
| Leverage | Not Mentioned |
| Trading Platform | Not Mentioned |
| Min Deposit | Not Mentioned |
| Customer Support | Contact form |
| Phone: (852) 3998 4916 | |
| Email: account@mgmetals.com.hk | |
MG is a financial provider in Hong Kong with a suspicious fake clone license. Their core businesses include a variety of financial services, real estate, entertainment, publishing, arts and cultures, education and training, multimedia, and environmental protection. Its subsidiary company, Marigold International Bullion Dealers Limited, primarily serves as a precious metal dealer.
Pros & Cons
| Pros | Cons |
| Specialized in Metal Dealing | Suspicious Clone License |
| Unclear Trading Conditions |
Is MG Legit?
MG is not a legiable company since its license is suspected to be a fake clone.
| Regulatory Status | Suspicious Clone |
| Regulated by | The Chinese Gold & Silver Exchange Society |
| Licensed Institution | 萬兆豐國際金業有限公司 |
| Licensed Type | Type AA License |
| Licensed Number | 023 |
What Can I Trade on MG?
Being a precious metal dealer. You can trade metals like gold and silver on MG.
| Trading Asset | Available |
| forex | ❌ |
| metals | ✔ |
| commodities | ❌ |
| indices | ❌ |
| energies | ❌ |
| stocks /shares | ❌ |
| cryptocurrencies | ❌ |
| options | ❌ |
| funds | ❌ |
| ETFs | ❌ |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| EZgold | ✔ | Mobile (iOS, Android) | Beginner |
| MT4 | ❌ | Desktop, Mobile, Web | Beginner |
| MT5 | ❌ | Desktop, Mobile, Web | Experienced trader |
| Trading View | ❌ | Desktop, Mobile, Tablets, Web Browsers | Beginner |
Deposit & Withdrawal
MG offers an upcoming payment app called MGPay for the traders on their platform. However, further details about this app are not provided.
Customer Service
MG provides contact channels including contact form, phone, email, and company address. The website shows that they also have social media, but the links direct you back to the company website instead of the social media page.
MG's customer service is open from Monday to Sunday. During working days, the service is available from 8:00 am to 8:00 pm. On Saturday, the service is available from 9:00 am to 7:00 pm. On Sunday, the service is available from 9:00 am to 9:00 pm.
| Contact Channel | Details |
 | Contact form |
 | (852) 3998 4916 |
 | account@mgmetals.com.hk |
 | Unit F, 18F, MG Tower, 133 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong |
Q&A
Is MG regulated?
No. MG's license is suspected to be a fake clone.
Is MG safe?
MG is not safe since MG is not a regulated platform.
Is MG a good broker for beginners?
No. Beginners should preferably choose a reputable and well-regulated platform.
Risk Warning
Online trading involves significant risk. 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.
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