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MOGAFX -

Score

1.86 /10
Danger

MOGAFX

Australia

Scam Brokers

5-10 years

Suspicious Regulatory License

cTrader

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://www.mogaforex.com/

Influence

C

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Comparison

Quantity 149

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.89

Risk Management Index0.00

Software Index6.45

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

Moga International Group LLC

Company Abbreviation

MOGAFX

Platform registered country and region

Australia

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 5
Previous Detection : 2025-02-01
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

Exposure

149 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

I withdraw many times still not doing anything

unable withdraw a few month almost 1 years

2024-03-27 00:16
Unable to Withdraw

Unable to withdraw

From December 21, 2023, my 27,000 USD can't be withdrawn. It's a scam company by the Taiwanese! The so-called regulation is all lies, please be careful.

2024-04-10 06:36
Unable to Withdraw

Unable to withdraw funds

Unable to withdraw money, customer service cannot be contacted on the official website. No one cares, and the business manager keeps evading. The platform has suspended businesses.

2023-12-22 14:13
Unable to Withdraw

Unable to withdraw funds on mogafx and will not be processed

My application for withdrawal on December 22nd showed failure, and then I reapplied for withdrawal and it has not been processed yet. I sent emails and contacted customer service, but no one paid attention to it and it was not processed. A total of 3,000 US dollars was my deposit.

2023-12-27 19:45
Unable to Withdraw

This company has been gone for a year.

All sales have left and funds cannot be withdrawn.

2024-06-19 00:53
Unable to Withdraw

Can't withdraw

I have applied for withdrawal for a long time. I asked the community and contact, they said my account is locked. I never get reply from contact on the website.

2024-01-11 20:53
Unable to Withdraw

The platform cannot be contacted and funds cannot be withdrawn.

It has been a few days since I requested to withdraw money, but no action has been taken. The funds in mt4 are still the same. Please help. Upload the records of deposits and withdrawals.

2023-12-27 23:28
Unable to Withdraw

scamadviser.c

i want to withdraw my fund from phemexproe but the customer service said currently my a count is in frozen position so i cant withdra w my fund. if i want to unfrozen my account t o do the fund withdraw i have to psy usd25388 8.because of they system problem but_hav e to pay the fixing fee?i think its theyib for × the problem not the customer.

2024-03-06 04:01
Unable to Withdraw

Unable withdraw and no supoprt team reply email and all the phone call cant reach

can anyone help me contact mogafx to withdraw my usdt?

2024-01-13 17:52
Unable to Withdraw

The platform has turned off the withdrawal function, turned it gray and cannot be clicked.

I was trading normally, but I was not allowed to withdraw money. It was a rubbish platform. I used to be able to contact online customer service, but now no one is online.

2024-01-12 11:03
Unable to Withdraw

Unable to withdraw funds, the strategy is losing money, and it is suspected that it took user's loss

Unable to withdraw money. I have withdrawn money for almost half a month and have not been given out. I followed their strategy and suffered serious losses. The remaining funds are not allowed to withdraw.

2023-12-21 21:48
Unable to Withdraw

Unable to withdraw money, there is no reply from CS on the platform. My CS told me that the company is going to collapse, but they all laid off and disbanded.

Unable to withdraw money, there is no reply from CS on the platform. My CS told me that the company is going to collapse, but they all laid off and disbanded. Moga 客戶 Tsang Kam Chi lamchunchun23@yahoo.com.hk Tsang Kam Chi 2036031 50422.44usdt Tsang Kam Chi 2036026 51442.78usdt Tsang Kam Chi 2036035 20140.7usdt There are many withdrawal applications, because I can only apply for 5000usdt each time.

2024-01-08 09:23
Unable to Withdraw

The platform's score should be reduced to 2 and turns to a fraud platform.

It’s been 4 months and I can’t withdraw money. Don’t let more people be deceived.

2024-04-22 23:02
Unable to Withdraw

Unable to withdraw

MOGA is officially closed ......... The ads kept saying it was fine, but it's finally shutting down. When I saw the 200% WTPA a month, I felt it was a huge risk to use MOGA.

2024-01-17 14:04
Unable to Withdraw

Unable to withdraw money and cannot contact the platform

It has been many days since I applied for a withdrawal, but the funds on mt4 were not deducted. I cannot contact customer service. The contact information on the official website is gone. It is suspected that the platform has run away.

2023-12-28 18:31
Resolved

I requested a withdrawal and MogaFx assured me that it would arrive today.

MogaFx does not respond to emails and withdrawal requests are not approved. They subsequently sent an email explaining that the platform was having issues with withdrawals and that MogaFX would be shutting down soon. When I requested the withdrawal, they told me they could not process the withdrawal if it did not meet insurance requirements. I opened a new investment account and then requested a withdrawal. MogaFX If my money doesn't arrive today I will expose you.

2024-02-14 15:11
    MOGAFX · Company summary

    Note: MOGAFX's official website: https://www.mogaforex.com/?culture=en-US is currently inaccessible normally.

    MOGAFX Review Summary
    Founded2020
    Registered Country/RegionAustralia
    RegulationSuspicious Clone
    Market InstrumentsForex, commodities, indices
    Demo AccountYes
    LeverageUp to 1:500
    SpreadFrom 0 pips
    Trading PlatformMT4, MT5, cTrader
    Min Deposit$1,000
    Customer Support+61 291890220
    service@mogafxglobal.com, service@mogafx.com

    MOGAFX Information

    MogaFX is a multi-asset broker, offering its clients access to many trading assets, including forex, indices, and commodities. MOGAFX offers six account types with different minimum deposit requirements and flexible leverage options up to 1:500 through MT4, MT5, and cTrader. However, it requires a high minimum deposit of 1,000 USD.

    Pros and Cons

    ProsCons
    • Supports MT4, MT5, and cTrader
    • Suspicious Clone
    • Offers six account types
    • A high minimum deposit of 1,000 USD
    • High leverage up to 1:500

    Is MOGAFX Legit?

    MOGAFX has a Straight Through Processing(STP) regulated by the Australian Securities and Investments Commission (ASIC) in Australia with a license number of 501156, and it is a Financial Service Corporate regulated by the Financial Service Providers Register (FSPR) in New Zealand with a license number of 1002414. However, both licenses are Suspicious Clone.

    Regulatory StatusSuspicious Clone
    Regulated byStraight Through Processing(STP)
    Licensed InstitutionSPECTRE FINANCIAL GROUP AUSTRALIA PTY LTD
    Licensed TypeStraight Through Processing(STP)
    Licensed Number501156
    Regulatory StatusSuspicious Clone
    Regulated byThe Financial Service Providers Register (FSPR)
    Licensed InstitutionMOGA INTERNATIONAL GROUP LIMITED
    Licensed TypeFinancial Service Corporate
    Licensed Number1002414
    Is MOGAFX Legit?
    Is MOGAFX Legit?

    What Can I Trade on MOGAFX?

    MOGAFX offers many trading assets such as Forex Currencies, Indices, and Commodities.

    Tradable InstrumentsSupported
    Forex✔
    Commodities✔
    Indices✔
    Cryptocurrency❌
    Shares❌
    Metals❌

    Account Type

    MOGAFX provides a demo account with a 30-day risk-free trading period and $100,000 virtual capital. MOGAFX also offers six live account types including Standard, VIP, ECN, Raw-spread, M1, and Swap-free accounts. Each account has different minimum deposit requirements, $1000, $10,000, $50,000, $10,000, $10,000, and $5,000 respectively. You can refer to the table for details.

    Account TypeMinimum depositSpreads fromMinimum lot sizeLeverage
    Standard1,000 USD2.5 pips0.011:100, 1:200, 1:400, 1:500
    VIP10,000 USD1.5 pips0.011:100, 1:200, 1:400, 1:500
    ECN with low spread50,000 USD0 pips0.011:100, 1:200, 1:400, 1:500
    RAW-SPREAD10,000 USD0 pips0.011:100, 1:200, 1:400, 1:500
    M110,000 USD1.5 pips0.011:100, 1:200, 1:400, 1:500
    SWAP-FREE5,000 USD2.8 pips0.011:100

    MOGAFX Fees

    Spreads differ from various trading accounts. The spread starts from 2.5 pips on the Standard account, from 1.5 pips on the VIP and M1 accounts, from 0 pips on the ECN and Raw-spread accounts, and from 2.8 pips on the Swap-free account. There is no commission charged on any of the accounts.

    Trading Platform

    Trading PlatformSupportedAvailable DevicesSuitable for
    MetaTrader 4 (MT4)✔PC and MobileInvestors of all experience levels
    MetaTrader 5 (MT5)✔PC and MobileInvestors of all experience levels
    cTrader✔PC and MobileInvestors of all experience levels

    Deposit and Withdrawal

    MOGAFX requires a minimum deposit of 1,000 USD for the Standard account.

    News

    ExposureMarch Recap: Most Complained Brokers in Malaysia

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    WikiFX
    2024-04-02 16:43
    March Recap: Most Complained Brokers in Malaysia

    NewsWikiFX Reviews MogaFX in Depth

    In this article, we'll examine MogaFX's key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service.

    WikiFX
    2023-09-22 16:37
    WikiFX Reviews MogaFX in Depth

    NewsMOGA Winter Cashback Giveaway, Double Profits with Double Promotions

    MOGA is launching a series of bonuses to invite all traders to join and have fun.

    WikiFX
    2022-10-13 08:56
    MOGA Winter Cashback Giveaway, Double Profits with Double Promotions
    About More

    User Reviews

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    User comment

    12

    Comments

    Write a review

    Venki
    more than one year
    MOGAFX is cool in that they give you options for how much leverage you want, which is good because it depends on how much risk you're willing to take. They also have a bunch of different things to trade, like currencies, commodities, and maybe even crypto.
    MOGAFX is cool in that they give you options for how much leverage you want, which is good because it depends on how much risk you're willing to take. They also have a bunch of different things to trade, like currencies, commodities, and maybe even crypto.
    Translate to English
    2024-07-18 17:57
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    Abel Gert
    more than one year
    I am always busy with forex pairs and commodities. The platform's user experience is top-notch, smooth sailing all the way!
    I am always busy with forex pairs and commodities. The platform's user experience is top-notch, smooth sailing all the way!
    Translate to English
    2024-05-08 16:12
    Reply
    0
    0
    99+