MGL FOREX-Overview of Minimum Deposit, Spreads & Leverage
Abstract：MGL Forex is an unregulated broker, offering trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs with leverage up to 1:500 and spread from 0.1 pips on the MT4 and MGL Forex mobile app. The minimum deposit requirement is $50.
| MGL Forex Review Summary | |
| Founded | 2016 |
| Registered Country/Region | Mongolia |
| Regulation | No regulation |
| Market Instruments | Forex, CFDs indices, oil, Uneth metals, cryptos, CFDs |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 0.1 pips |
| Trading Platform | MT4, MGL Forex mobile app |
| Minimum Deposit | $50 |
| Customer Support | 24/5 support, contact form |
| Tel: +976 70177170 | |
| Email: account@mglforex.mn | |
| Address: Express Taur 12 Davhart 1201 Toot | |
| Facebook, Twitter, YouTube | |
MGL Forex Information
MGL Forex is an unregulated broker, offering trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs with leverage up to 1:500 and spread from 0.1 pips on the MT4 and MGL Forex mobile app. The minimum deposit requirement is $50.
Pros and Cons
| Pros | Cons |
| Various trading products | No regulation |
| Demo accounts | Unclear fee structure |
| MT4 platform | Limited payment methods |
| Low minimum deposit |
Is MGL Forex Legit?
No. MGL Forex currently has no valid regulations. Please be aware of the risk!
What Can I Trade on MGL Forex?
MGL Forex offers trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs.
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs indices | ✔ |
| Oil | ✔ |
| Uneth Metals | ✔ |
| Cryptos | ✔ |
| CFDs | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Leverage
MGL Forex offers maximum leverage at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MGL Forex mobile app | ✔ | Mobile | / |
| MT4 | ✔ | Desktop, mobile, web | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
MGL Forex accepts payments via cash, bank transfer and cryptocurrencies. However, specific info like deposit and withdrawal processing time and associated fees is not revealed.
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