MGX Brokers

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

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.

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.

Leverage

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

MGX Brokers Fees

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.

Deposit and Withdrawal