MGL Forex Account Type

MGL Forex offers three different account types tailored to various trading experiences and needs:

• Standard Account
• Minimum Deposit: $50
• Maximum Leverage: 1:200
• Spread: Starting from 1.1 pips
• Commission: $7 per lot for forex and spot metal trades
• Pro Account
• Minimum Deposit: $5,000
• Maximum Leverage: 1:200
• Spread: Variable (subject to commission)
• Commission: $7 per lot for forex and spot metal trades, $3 for other CFDs including oil
• Institutional Account
• Minimum Deposit: Negotiable (not specified)
• Maximum Leverage: Not specified
• Spread: Not specified
• Commission: Negotiable based on trading conditions

MGL Forex provides a demo account for traders to practice their skills, which is valid for 30 days.

MGL Forex Broker Account Opening Process

To open an account with MGL Forex, follow these steps:

• Visit the MGL Forex Website: Go to mglforex.mn.
• Select Account Type: Choose the account type that suits your trading needs (Standard, Pro, or Institutional).
• Fill Out the Application: Complete the online application form with your personal information, including:
• Name
• Email address
• Phone number
• Address
• Date of birth
• Provide Identification: Submit required identification documents, such as a government-issued ID or passport.
• Fund Your Account: Make an initial deposit via bank transfer. The minimum deposit varies by account type:
• Standard Account: $50
• Pro Account: $5,000
• Accept Terms and Conditions: Agree to the broker's terms and conditions, including risk disclosures.
• Account Activation: Wait for account approval, which typically takes 24 hours. Once approved, you can start trading.

By following these steps, you can successfully open a trading account with MGL Forex and begin your trading journey.