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Score

1.48 /10
Danger

MIGOTRADE

Saint Vincent and the Grenadines

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.migotrade.com

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Score

Regulatory Index0.00

Business Index6.76

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

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

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40G

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Warning: Low score, please stay away!
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

MIGOTRADE · Company summary

Note: MIGOTRADE's official website: https://www.migotrade.com/ is currently inaccessible normally.

MIGOTRADEReview Summary
Founded2020
Registered Country/RegionSaint Vincent and the Grenadines
RegulationNo regulation
Market InstrumentsForex, indices, shares, commodities, cryptocurrency, metals
Demo Account❌
LeverageUp to 1:200
EUR/USD SpreadFloating around 1.0 pips
Trading PlatformSirix webtrader
Min Deposit/
Customer Support/

MIGOTRADE Information

MIGOTRADE is an unregulated broker, offering trading on forex, indices, shares, commodities, cryptocurrency, and metals with leverage up to 1:200 and EUR/USD spread floating around 1.0 pips via Sirix trading platform.

Pros and Cons

Pros Cons
Various trading productsNo regulation
Tight spreadsInaccessible website
No demo accounts
No MT4/MT5 platform
No contact channels

Is MIGOTRADE Legit?

No. It is registered in Saint Vincent and the Grenadines. It has no valid regulations currently. It does not offer guaranteed funds or segregated accounts.

Is MIGOTRADE Legit?

What Can I Trade on MIGOTRADE?

MigoTrade claims to provide a diverse range of trading instruments, encompassing major and minor forex pairs, market indices, shares, commodities, cryptocurrency, and metals for CFD trading.

Tradable Instruments Supported
Forex ✔
Indices ✔
Commodities ✔
Shares ✔
Cryptocurrency✔
Metals ✔
Bonds❌
Options❌
Mutual Funds❌
ETFs❌

Account Type

Here are four account types MIGOTRADE offers:

Account TypeMin Deposit
BronzeNot mentioned
Gold
Platinum
Diamond

Leverage

The broker provides leverage up to 1:200.

MIGOTRADE Fees

EUR/USD spread is floating around 1.0 pips.

The broker reserves the right to introduce additional fees and charges and the right to change existing ones at any time. An administrative fee of 5% or 25 USD is required, in case the broker decides clients do not hold some minimum required amount in the account, determined by their sole discretion.

Trading Platform

MigoTrade utilizes the Sirix webtrader, developed by Leverate, as its trading platform. The Sirix webtrader is available in both web-based and mobile app versions.

Trading PlatformSupported Available Devices Suitable for
Sirix webtrader✔Web, Mobile/
MT4❌/Beginners
MT5❌/Experienced traders
Trading Platform

Deposit and Withdrawal

The broker accepts deposit payments done via VISA, MasterCard or Migopay.

It accepts withdrawal payments done via Neteller, credit card, wire transfer, MoneyBookers and Migotrade Mastercard.

The broker charges a deposit and a withdraw commission, but not specified.

User Reviews

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FX1378302353
more than one year
I tried accessing MIGOTRADE's website but it seems to be down. This is not surprising given the fact that MIGOTRADE is registered in Saint Vincent and the Grenadines, which is a known offshore destination for forex companies. The lack of proper regulation in this jurisdiction makes it easy for unscrupulous companies to take advantage of unsuspecting traders.
I tried accessing MIGOTRADE's website but it seems to be down. This is not surprising given the fact that MIGOTRADE is registered in Saint Vincent and the Grenadines, which is a known offshore destination for forex companies. The lack of proper regulation in this jurisdiction makes it easy for unscrupulous companies to take advantage of unsuspecting traders.
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2023-03-20 10:16
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海83851
more than one year
This company is only about scammers and altogether taking your money. The silence of the customer support service when you need withdrawal help should tell you their true ambition.
This company is only about scammers and altogether taking your money. The silence of the customer support service when you need withdrawal help should tell you their true ambition.
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2023-03-10 18:25
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