MGK International Forex broker specializes in providing foreign exchange trading services, the company's official website https://mgk-global.com/en/page-openaccount-quick.php, the company's legitimate regulatory information MalaysiaLFSAStraight Through Processing (STP), to enhance the security of the company's address Lot 1-3A, First Floor Paragon Jln Tun Mustapha, 87000 WP Labuan.
MGK International Forex Broker
Basic information
Malaysia
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
MGK International Information
MGK International, founded 5-10 years ago, is registered in France. The broker offers three account types, provides the MT4 trading platform, and supports six deposit methods, making it a versatile choice for traders. However, its regulatory status is suspicious clone.
Pros and Cons
| Pros | Cons |
| Offers three account types | Suspicious clone |
| Provides MT4 trading platform | Demo account unavailable |
| Offers six deposit methods | No information on available trading products |
Is MGK International Legit ?
MGK International is regulated by the Labuan Financial Services Authority (LFSA) of Malaysia and holds license number MB/12/0003. However, its regulatory status is suspicious clone.
Account Type
MGK International offers three main account types: Normal Account, SPEED Account, and MAM/PAMM Accounts.
| Features | Normal Account | SPEED Account | MAM & PAMM Accounts |
| Target Users | General traders and EA programmers | Veteran traders and fast execution needs | Fund managers and investors |
| Trading Method | Non-Dealing Desk (NDD) | Non-Dealing Desk (NDD) | Non-Dealing Desk (NDD) |
| Backtesting Function | Available on MT4 with historical data | Not specified | Not specified |
| Leverage Flexibility | Standard | Flexible, allows customized leverage options | Flexible, adjustable for sub-accounts |
| Trade Execution Speed | Regular execution | Super-fast, minimal delays | Depends on manager's settings and allocation method |
| Spread & Commission | Excellent rates and narrow spreads | Low spreads, fast execution | Cheaper commission and spreads |
| Performance Fees | Not applicable | Not applicable | Automatically deducted based on contract terms |
| Order Allocation | No allocation system | No allocation system | Allocated based on percentage or fixed lots |
| Account Flexibility | Standard trading flexibility | Fast execution with minimal server interference | More flexibility in risk allocation and trade sizing |
| Withdrawals | Client‘s discretion | Client’s discretion | Manager cannot withdraw; clients manage deposits and withdrawals |
| Additional Features | Supports 5 daily bars for accurate EA operation | Sophisticated algorithms for quick execution | Low operating costs due to investor-manager relationship |
Trading Platform
MGK International supports MT4 but does not support MT5.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Mobile and Desktop（Windows & macOS） | Beginner |
| MT5 | ❌ | Mobile and Desktop（Windows & macOS） | Experienced Trader |
Deposit and Withdrawal
MGK International offers six deposit methods, including bitwallet, wire transfer, BXONE, Bitcoin (BTC remittance), Ethereum (ETH remittance), and USDT (Tether remittance). The minimum withdrawal amount is US $50.00 (after transfer fees).
For bitwallet and BXONE, a dedicated account is required, with processing times of 24 hours and an unspecified timeframe, respectively. Wire transfers typically take 2-3 business days, while Bitcoin, Ethereum, and USDT deposits do not require a dedicated account and are reflected within 1-2 business days.
Rating Index
MGK International Similarly Rated Brokers
Latest Reviews
Mark Rutte
Australia
Hey, I've got account at several different brokers and I must say – I'm mostly trading with this one. It seems the most convenient so far. Love their instant withdrawal option! And people in the assistance are very nice and polite. If I had to advice on the broker, I would suggest this one- at least I wouldn't lie.
Positive
2024-05-17
FX1348911518
Nigeria
MT4 trading platform is excellent for automated trading strategies. The EA functionality is very easy to use and allows for setting stop loss orders on the chart with ease. Additionally, order execution is fast and reliable. However, it is worth noting that I have not had much interaction with their customer service team or used their other trading products, so I cannot comment on those aspects.
Positive
2023-03-22
Cuety
New Zealand
MGK International boasts a comprehensive selection of market instruments and a user-friendly trading platform, making it a great choice for traders seeking versatility and ease of use.
Positive
2024-07-30