Magic Compass Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-12 10:30

Abstract：Magic Compass, founded in 2015, is an international electronic trading company. The company is regulated offshore by FSA. Its trading instruments cover over 50 popular products including forex, gold, oil, etc.

Magic CompassReview Summary
Founded	2015
Registered Country/Region	Cyprus
Regulation	CySEC, Seychelles Financial Services Authority, Canadian Fintrac MSB
Market Instruments	Forex, Gold, Silver, Crude Oil, Indices, Cryptocurrencies, U.S. Stocks, Offshore Chinese Yuan, Metals, Shares
Demo Account	✅
Leverage	Up to 1: 400
Spread	EUR/USD: The average spread is 2.1 pips.
Trading Platform	MT4 & Magic Compass investment APP
Min Deposit	$100
Customer Support	24/7 online consultation with a professional customer service team
	We Chat Official Accounts

Magic Compass Information

　　Magic Compass, founded in 2015, is an international electronic trading company. The company is regulated offshore by FSA. Its trading instruments cover over 50 popular products including forex, gold, oil, etc.

Pros and Cons

Pros	Cons
Diverse Instruments	Limited customer support channels
Support MT4	Residents or passport holders from jurisdictions including Canada, the United States, and Belgium are unaccepted.
STP Forex Trading Platform
Self-developed trading APP software
24/7 online consultation

Is Magic Compass Legit?

　　Magic Compass claims to be regulated by CySEC, Canadian Fintrac MSB, and the St. Vincent and the Grenadines Financial Services Authority (FSA). As verified by WikiFX, its license is regulated by the Seychelles Financial Services Authority.

What Can I Trade on Magic Compass?

　　Magic Compass offers multiple popular products for traders, including forex, gold, silver, crude oil, indices, cryptocurrencies, U.S. stocks, and more.

Tradable Instruments	Supported
Stocks	✔
Forex	✔
Funds	❌
Bonds	❌
Futures	✔
Cryptocurrencies	✔
Precious metals & Commodities	✔
Indices	✔

Leverage

　　Each trading product has a different leverage, with a maximum of 1:400.

Breed type	Margin Mode	Margin/Leverage
FX	Fixed Leverage	400x
Crypto	Fixed Leverage	50x
Stock	Fixed Margin	400 - 1500 USD
Metal	Fixed Leverage	400x
Energy	Fixed Leverage	75x
Index	Fixed Leverage	50x - 200x

Magic Compass Fees

　　Magic Compass spreads

　　Each trading product has a different spread. For more details, please refer to the contract information on the official website.

Breed type	Symbol	Contract size	Average Spread
FX	EURUSD.g	100000 base currency	2.1
FX	GBPUSD.g	100000 base currency	2.7
Crypto	BTCUSDT	1	Float
Crypto	ETHUSDT	20	Float
Stock	AAPL	100 share	0.4
Stock	BIDU	100 share	0.7
Metal	XAUUSD.g	100 ounce	0.5
Metal	XAGUSD.g	5000 ounce	0.04
Energy	UKOIL.g	1000 barrels	0.05
Energy	USOIL.g	1000 barrels	0.05
Index	HK50.g	50 HKD/spot	10
Index	GER30.g	10 EUR/spot	3.8

　　Non-Trading Fees

Non-trading Fees	Magic Compass
Deposit Fee	$100（Min）
Withdrawal Fee	Normal circumstances：Fee waivedWithdrawal amount is less than $50：$3 feeTrading volume (closed position margin) is less than 50% of the total deposit：10% fee of the withdrawal amount
Inactivity Fee	None

Trading Platform

　　Magic Compass provides the MT4 and Magic Compass investment APP.

Trading Platform	Supported Devices	Key Features
MT4	PC	· Real-time Synchronization of International Market
	IOS	· Diverse Financial Products
	Android	· Smart Trading System
	Web browser	· In-depth Analysis Function
Magic Compass investment APP	Android	· Support Transactions of Various Types
	iOS	· Support EA SmartTransaction
		· Audible Reminder ofReaching Set-price
		· Powerful Chart Analysis Function
		· Friendly and IntuitiveTrading Interface
		· Excellent TransactionExecution Function

Deposit and Withdrawal

　　Magic Compass has a minimum deposit requirement of $100 and may charge withdrawal fees depending on the circumstances.

　　Deposit

Type	Minimum/Maximum Limit
Deposit	Minimum deposit: $100 per transaction
Fast/Bank Transfer	Maximum deposit: $7,000 per transaction
Cryptocurrency	Maximum deposit: $30,000 per transaction

　　Withdrawals

　　Withdrawals have no amount limit but may incur a fee. Deposits are unlimited and can be made anytime. Withdrawals are processed during financial department hours (Monday to Friday, 09:00-18:00), typically within 1 business day, depending on bank processing time (1-3 business days).