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/10

MGX Brokers

Seychelles Seychelles | 2-5 years |
Questionable Regulatory License | White label MT5 | Regional Brokers | High Potential Risk

https://www.mgxbrokers.com/

Website

Rating Index

MT4/5 Verification

MT4/5 Verification

White Label

4
Server Name
MGXBrokers-RealMT5
Server LocationFranceFrance

Contact

+248 4373403
https://www.mgxbrokers.com/
CT House, Office No. 8D, Providence, Mahe, Seychelles

license Forex License

risk

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
2

Basic Information

Registered Region
Seychelles
Operating Period
2-5 years
Company Name
Maximus Global Limited
Email
support@mgxbrokers.com
Contact Number
+2484373403
Account Info
Related Personnel
Verified Site
Relationship Map
Related Companies
Employees
About Us
Wiki Q&A
Comment
MT4/5
White Label MT5
White Label MT5
0
MT4 Servers
2
MT5 Servers
93.00
velocityIcon
Average Execution Speed/ms

Properly licensed MetaTrader brokers provide robust systems and continuous support, backed by mature operations, advanced technology, and strong risk controls.

Meta Trader 5
Meta Trader 5
Perfect

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Official Website

Verified Site

  • mgxbrokers.com
    206.54.167.11
    Server Location
    United States United States
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    --
    Website Name
    --
    Company
    --

Relationship Map

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MGX Brokers

Related Companies

MAXIMUS GLOBAL LIMITED(Seychelles)
Seychelles
MAXIMUS GLOBAL LIMITED(Seychelles)
Active
Seychelles
Registration No.
--
Est. Date
MAXIMUS GLOBAL LIMITED(United Kingdom)
United Kingdom
MAXIMUS GLOBAL LIMITED(United Kingdom)
Active
United Kingdom
Registration No.
14530667
Est. Date
Employees

Company Profile

Company Profile

Review summary

MGX BrokersReview Summary
Founded2020
Registered Country/RegionSeychelles
RegulationUnregulated
Market InstrumentsForex, Metals, Commodities, Stocks, Indices, Cryptos
Demo Account
Islamic Account
LeverageUp to 1:1000
SpreadFrom 0 pips
Trading PlatformMT4
Copy Trading
Min Deposit$100
Customer SupportTel: +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.

MGX Brokers' homepage

Pros and Cons

Pros Cons
Multiple market instrumentsUnregulated
Support demo accountsLimited 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.

No license
Domain information

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 TypePROZEROVIP
Base CurrencyUSD/EURUSD/EURUSD/EUR
Min Deposit$100$500$5 000
Min Lot Size0.01 Lot0.01 Lot0.05 Lot
Stop out204040
EducationBasicAdvancedAdvanced
Account comparison

Leverage

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

Account TypePROZEROVIP
Max Leverage1:10001:10001:500

MGX Brokers Fees

Account TypeSpreadCommissionCrypto Commission
PROFrom 0.9 pips1 pip
ZEROFrom 0.0 pips0.0035%0.06%
VIPFrom 0.0 pips0.0025%0.05%
Product TypePROZEROVIP
Forex Pairs0.9 pips0.0 pips0.0 pips
Metals0.9 pips0.0 pips0.0 pips
Cryptocurrencies1 pip0.06%0.05%
CFD Indices0.9 pips0.0 pips0.0 pips
Stocks0.9 pips0.0 pips0.0 pips
Oil0.9 pips0.0 pips0.0 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.

Trading PlatformSupported Available Devices Suitable for
MT4Desktop, mobileBeginners
MT5/Experienced traders
Trading Platform

Deposit and Withdrawal

Funding OptionAccepted CurrencyMin Deposit/Withdrawal Deposit/Withdrawal FeeDeposit/Withdrawal Time
Credit/Debit CardsUSD$5 USDInstant
Bank TransfersUSD/EUR50 USD/EUR1-5 business days
Deposit and Withdrawal

Company Profile

  • 2-5 years
  • Questionable Regulatory License
  • White label MT5
  • Regional Brokers
  • High Potential Risk

Wiki Q&A

Can MGX Brokers be considered a credible broker?

MGX Brokers, operating as Maximus Global Limited, presents a complex profile. It has been operating for 2 to 5 years from Seychelles, offering accounts like PRO, ZERO, and VIP with minimum deposits from $100 to $5,000 and leverage as high as 1:1000. The broker provides services on the MT5 platform with an average execution speed of 126.17 ms. However, its primary regulatory license from the Seychelles FSA (SD065) holds an 'Unverified' status, and it lacks oversight from major, globally recognized financial authorities. The absence of this verifiable, high-tier regulation significantly impacts its overall credibility and the level of investor protection afforded to clients.

04-02
United States

Which financial regulator oversees MGX Brokers?

MGX Brokers holds a Derivatives Trading License (SD065) from the Seychelles Financial Services Authority (FSA). According to WikiFX assessment, the status of this specific license is 'Unverified'. The broker does not appear to hold any additional, verifiable licenses from major regulatory bodies such as the UK's FCA, Australia's ASIC, or Cyprus's CySEC. This means it operates without the robust investor compensation schemes and stringent conduct rules typically enforced by top-tier regulators.

04-02
United States

What is the official website of MGX Brokers?

The official website URL for MGX Brokers is not currently publicly disclosed in its primary corporate profile.

04-02
United States

¿Qué significa que un bróker tenga múltiples licencias regulatorias?

Cuando un bróker posee múltiples licencias regulatorias, generalmente significa que opera en diferentes jurisdicciones y debe cumplir requisitos normativos de varios organismos supervisores, lo que puede reflejar mayor capacidad operativa internacional. No obstante, la solidez de la supervisión puede variar entre reguladores, especialmente en el caso de licencias offshore. Se recomienda verificar si el bróker cuenta con licencias de organismos principales como FCA o ASIC y revisar su historial regulatorio mediante WikiFX.

In a week

¿Cómo identificar si un bróker presenta un perfil de riesgo elevado?

Un bróker puede evaluarse como de mayor riesgo considerando factores como la situación regulatoria, las reclamaciones de usuarios, la seguridad de los fondos y la coherencia de la información pública disponible. En general, los brókers sin regulación válida, con problemas frecuentes de retirada o con un elevado número de reclamaciones suelen presentar mayores niveles de riesgo. En WikiFX pueden consultarse el estado regulatorio, la puntuación integral, los registros de exposición y las opiniones de usuarios como referencia adicional.

In a week

Apakah dana masih dapat dipulihkan setelah terjadi penipuan investasi?

Pemulihan dana setelah terjadi penipuan investasi dapat menjadi proses yang sulit, namun tindakan cepat dapat membantu mengurangi potensi kerugian. Disarankan untuk menyimpan catatan transaksi dan komunikasi, menghubungi pihak bank untuk mencoba menghentikan atau membekukan pembayaran, serta melaporkan kejadian kepada otoritas setempat. Investor juga dapat menggunakan kanal pengaduan di WikiFX untuk meningkatkan visibilitas kasus.

In a week

What is a clone broker website?

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

04-02
United States

Bagaimana cara membandingkan broker secara efektif?

Untuk membandingkan broker secara efektif, investor dapat menilai status regulasi, skor keseluruhan, lingkungan trading, kondisi akun, dan umpan balik pengguna. Disarankan memprioritaskan informasi lisensi dan regulator terlebih dahulu, kemudian membandingkan indikator seperti spread, kecepatan eksekusi, serta persyaratan deposit minimum. Fitur perbandingan multidimensi di WikiFX dapat membantu proses analisis secara lebih sistematis.

In a week
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