MGX Brokers

WikiFX | 2024-11-28 10:47

Extracto：MGX Brokers is an unregulated dealer founded in 2020 in Seychelles. It supports MT4 as a trading platform and provides market instruments including Forex, Metals, Commodities, Stocks, Indices, and Cryptos. It supports demo accounts, with a minimum deposit of $100 and leverage up to 1:1000.

MGX BrokersReview Summary
Founded	2020
Registered Country/Region	Seychelles
Regulation	Unregulated
Market Instruments	Forex, Metals, Commodities, Stocks, Indices, Cryptos
Demo Account	✅
Islamic Account	✅
Leverage	Up to 1:1000
Spread	From 0 pips
Trading Platform	MT4
Copy Trading	✅
Min Deposit	$100
Customer Support	Tel: +248 4373403 (Land line office)
	Email: support@mgxbrokers.com
	Address: CT House, Office 8D, Providence, Mahe, Seychelles

MGX Brokers is an unregulated dealer founded in 2020 in Seychelles. It supports MT4 as a trading platform and provides market instruments including Forex, Metals, Commodities, Stocks, Indices, and Cryptos. It supports demo accounts, with a minimum deposit of $100 and leverage up to 1:1000.

Pros and Cons

Pros	Cons
Multiple market instruments	Unregulated
Support demo accounts	Limited payment options
Support Islamic accounts
Multiple account types
Flexible leverage ratios
MT4 platform
Copy trading
Free deposit and withdrawal

Is MGX Brokers Legit?

Although MGX Brokers claims to offer Negative Balance Protection, it lacks valid regulations currently. Traders should carefully consider the risks it brings when choosing to trade with it.

What Can I Trade on MGX Brokers?

MGX Brokers supports 33 currency pairs in the Forex market, precious metals, oil, 13 cryptocurrency pairs, stock indices (Nasdaq, Dow Jones, Nikkei, etc.), as well as CFD contracts on shares of almost 70 companies, including IBM, JP Morgan Chase, Coca-Cola, Mastercard, Tesla, McDonalds, Microsoft, Twitter, UBER, eBay, Alibaba, Deutsche Bank and many more.

Tradable Instruments	Supported
Forex	✔
Metals	✔
Commodities	✔
Stocks	✔
Indices	✔
Cryptos	✔
Bonds	❌
Options	❌
ETFs	❌

Account Type

Apart from demo accounts, MGX Brokers also offers three types of live accounts.

The swap free Islamic account is available for all account types.

Account Type	PRO	ZERO	VIP
Base Currency	USD/EUR	USD/EUR	USD/EUR
Min Deposit	$100	$500	$5 000
Min Lot Size	0.01 Lot	0.01 Lot	0.05 Lot
Stop out	20	40	40
Education	Basic	Advanced	Advanced

Leverage

MGX Brokers offers leverageup to 1:1000, which can potentially bring high returns, but it also comes with high risks.

Account Type	PRO	ZERO	VIP
Max Leverage	1:1000	1:1000	1:500

MGX Brokers Fees

Account Type	Spread	Commission	Crypto Commission
PRO	From 0.9 pips	❌	1 pip
ZERO	From 0.0 pips	0.0035%	0.06%
VIP	From 0.0 pips	0.0025%	0.05%

Product Type	PRO	ZERO	VIP
Forex Pairs	0.9 pips	0.0 pips	0.0 pips
Metals	0.9 pips	0.0 pips	0.0 pips
Cryptocurrencies	1 pip	0.06%	0.05%
CFD Indices	0.9 pips	0.0 pips	0.0 pips
Stocks	0.9 pips	0.0 pips	0.0 pips
Oil	0.9 pips	0.0 pips	0.0 pips

Trading Platform

MGX Brokers offers the leading MetaTrader 4 (MT4). It has been the most popular platform among traders from all over the world for over 15 years. It provides almost endless opportunities for successful trading and analysis of global financial markets. It lets you conduct transactions both from desktop computers and from mobile phones and tablets.