What is MGM Global？
MGM Global operates as an online trading platform based in the United Kingdom. MGM Global operates without regulation, which raises potential concerns regarding the platform's accountability and user protection measures.
Pros & Cons
Pros:
Cons:
Non-regulated: MGM Global operates without regulatory oversight, indicating a lack of adherence to established financial standards and potentially posing risks to users.
Very High Minimum Deposit: The platform requires a substantial minimum deposit of $10,000, which is a significant barrier for traders with smaller capital.
Strict Regional Restrictions: MGM Global imposes strict regional restrictions, prohibiting access from countries such as Afghanistan, Crimea Region, Cuba, Iran, Iraq, Israel, Japan, North Korea, Sudan, Syrian Arab Republic, USA, Yemen, and other sanctioned countries.
Info on Key Trading Conditions Are Missing: Crucial information on key trading conditions such as leverage, spread, and commission is not provided, leaving users in the dark about essential aspects of the trading environment.
Is MGM Global Safe or Scam？
Regulatory Sight: MGM Global operates without regulatory oversight and lacks an official license, making it a non-regulated trading platform. The absence of regulatory authority means that the broker does not adhere to established financial standards and consumer protection measures enforced by regulatory bodies.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
Forex: Traders can engage in the foreign exchange market, choosing from major, minor, and exotic currency pairs. MGM Global offers ultra-low spreads and an easy-to-use trading platform for Forex trading.
Cryptos: The platform supports trading in over 300 cryptocurrencies, providing opportunities to trade these digital assets 24/7, 365 days a year. Cryptocurrency enthusiasts can benefit from the volatility of these markets.
Indices: MGM Global allows users to trade major global indices such as DAX, S&P 500, Dow Jones, and others. Traders can take advantage of trends in these prominent indices.
Commodities: The platform offers trading in popular commodities without the need for physical ownership. Traders can access commodities like corn, coffee, sugar, and more.
Spot Metals: Trading “safe haven” metals, such as gold, is made easy on MGM Global. Traders can benefit from thin spreads and leverage when trading spot metals.
Energies: MGM Global enables users to buy Contracts for Difference (CFDs) on various energy commodities, including crude oil, natural gas, and coal. Traders can explore opportunities in the energy markets with the support of the MGM Global team.
Account Types
MGM Global offers a range of account types with varying features and benefits to cater to different trading preferences:
Bronze Account ($10,000):
Personal Account Manager
Trading Platform Introduction
Risk Management Strategies and Guidance
Basic Market Education Sessions
Silver Account ($25,000):
Personal Account Manager
Trading Platform Introduction
Risk Management Strategies and Guidance
Basic Market Education Sessions
Personalised Trading Alerts
Gold Account ($50,000):
Personal Account Manager
Trading Platform Introduction
Risk Management Strategies and Guidance
Basic Market Education Sessions
Personalised Trading Alerts
Risk-Free Trades
Practical Guided Trading Sessions
Premium Account ($100,000):
Personal Account Manager
Trading Platform Introduction
Risk Management Strategies and Guidance
Basic Market Education Sessions
Personalised Trading Alerts
Risk-Free Trades
Practical Guided Trading Sessions
Eligible for the MGM Global Managed Account Service
Platinum Account ($250,000):
Personal Account Manager
Trading Platform Introduction
Risk Management Strategies and Guidance
Basic Market Education Sessions
Personalised Trading Alerts
Risk-Free Trades
Practical Guided Trading Sessions
Eligible for the MGM Global Managed Account Service
Higher Leverage
Plus, the MGM Global VIP Trading Club enhances the Platinum account with exclusive perks, including personal coaching from Senior Market Analysts and access to a private Telegram group. Members with $500,000 or more in their accounts enjoy curated offers, unique opportunities, and valuable insights from top professionals, providing an elevated and exclusive trading experience. Limited availability adds an element of exclusivity, making it an appealing option for serious traders seeking exceptional returns.
Trading Platform
MGM Global offers a user-friendly and optimized trading platform designed for both beginner and experienced traders. With the MGM Global platform, users can trade various instruments, including cryptocurrencies, forex, and shares, all within a single, easy-to-use wallet. The platform, available as an app or through a web browser, ensures seamless trade execution and provides personalized features such as multiple chart options, specified alerts, and risk management tools. Traders can easily navigate and customize their trading dashboard with a user-friendly interface, enhancing the overall trading experience.
Customer Support
MGM Global provides customer support through various channels, offering assistance 24/5. Traders can contact the support team via telephone at +442037693472, utilize the online contact form on the website, or reach out through email atsupport@mgmglobal.com. The company's physical address is located at 5 Harbour Exchange, E14 9GE, UK.
Conclusion
MGM Global operates as a non-regulated online trading platform. The lack of regulation, coupled with a high minimum deposit requirement and strict regional restrictions, raises concerns about user protection and transparency. While the platform offers various market instruments, including forex, cryptocurrencies, and commodities, the absence of key trading condition information and security measures adds uncertainty to its overall reliability.
Frequently Asked Questions (FAQs)
Q: Is MGM Global regulated？
A: No, MGM Global operates without regulatory oversight and lacks an official license.
Q: What is the minimum deposit requirement？
A: The minimum deposit for an MGM Global account is $10,000.
Q: Does MGM Global support MT4 or MT5？
A: No, it supports neither.
Q: Can I access MGM Global's trading platform on a mobile app？
A: Yes, MGM Global provides a trading platform app, giving users the flexibility to trade on the go.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. 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.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-01-18 18:03
