MGX Brokers Forex Broker

MGX BrokersReview SummaryFounded2020Registered Country/RegionSeychellesRegulationUnregulatedMarket InstrumentsForex, Metals, Commodities, Stocks, Indices, CryptosDemo Account✅Islamic Account✅LeverageUp to 1:1000SpreadFrom 0 pipsTrading PlatformMT4Copy Trading✅Min Deposit$100Customer SupportTel: +248 4373403 (Land line office)Email: support@mgxbrokers.comAddress: 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 ConsPros Cons Multiple market instrumentsUnregulatedSupport demo accountsLimited payment optionsSupport Islamic accountsMultiple account typesFlexible leverage ratiosMT4 platformCopy tradingFree deposit and withdrawalIs 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 TypePROZEROVIPBase CurrencyUSD/EURUSD/EURUSD/EURMin Deposit$100$500$5 000Min Lot Size0.01 Lot0.01 Lot0.05 LotStop out204040EducationBasicAdvancedAdvancedLeverage MGX Brokers offers leverageup to 1:1000, which can potentially bring high returns, but it also comes with high risks.Account TypePROZEROVIPMax Leverage1:10001:10001:500MGX Brokers FeesAccount TypeSpreadCommissionCrypto CommissionPROFrom 0.9 pips❌1 pipZEROFrom 0.0 pips0.0035%0.06%VIPFrom 0.0 pips0.0025%0.05%Product TypePROZEROVIPForex Pairs0.9 pips0.0 pips0.0 pipsMetals0.9 pips0.0 pips0.0 pipsCryptocurrencies1 pip0.06%0.05%CFD Indices0.9 pips0.0 pips0.0 pipsStocks0.9 pips0.0 pips0.0 pipsOil0.9 pips0.0 pips0.0 pipsTrading 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 MT4✔Desktop, mobileBeginnersMT5❌/Experienced tradersDeposit and WithdrawalFunding OptionAccepted CurrencyMin Deposit/Withdrawal Deposit/Withdrawal FeeDeposit/Withdrawal TimeCredit/Debit CardsUSD$5 USD❌InstantBank TransfersUSD/EUR50 USD/EUR❌1-5 business days