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MGL global Forex Broker provides real users with 2 positive reviews, 1 neutral reviews and 2 exposure review!

MGL global Broker Review

1.27

WikiFX monitor

Business

Influence E

License

No license

MGL global Review 5

Latest All(5) Positive(2) Neutral(1) Exposure(2)
Neutral

Decent spreads, but laggy trading platform lacks features.

Pierre Dupont
2024-06-28
Positive
Market Volatility Surges After Italian Referendum: Opportunities Amid Uncertainty

Better than most. No one likes being whip-sawed out of a FTSE trade on a Monday morning though (post Italian referendum.) As a financial markets professional, obviously I intend to ramp up my activity as much as possible.

Jason池
2024-05-17
Positive
Speedy Trade Execution, Zero Fees: Unbeatable Trading App with Seamless Cash Transactions

Wonderful trading app very fast execution of trade zero commission , all devices zero fee's , cash deposit and withdrawal Excellent

FX1670584849
2024-04-30
Exposure
Unable to withdraw money and request payment. Definitely a scam group

I was introduced to the LINE group through SNS and participated in a study session hosted by Shuichi Sasagawa. After that, I was introduced to Yuki Takamura of MGL Global by Yoko Takahashi, a member of the group, and upon Takamura's invitation, I opened an investment management account. Then, on Takamura's instructions, a total of 10,500,000 yen was transferred several times. Regarding the reason why the transfer destination is not in the name of MGL but in the name of another corporation in Japan, Takamura said, ``In order to convert from yen to dollars before remittance, it is necessary to transfer the money to an account under a different name.'' There is an explanation. Background leading to this agreement 1. I saw a high school investment study group interviewed by Shuichi Sasagawa on SNS and joined the same LINE group 2. Yoko Takahashi introduced MGL Yuki Takamura to the registered LINE group 3. Yuki Takamura encouraged me to trade at MGL and opened an account. After that, the investment funds will be transferred to the bank according to Takamura's instructions. 4. I was introduced to BTCUSD on LINE, a group led by Shuichi Sasagawa, and each time I received instructions to deposit additional funds for investment management, and made the transfer because I was told that the risk of trading would increase if I had little funds. After that, Yuki Takamura told him that ``Minoru Fukuda'' (Shuichi Sasagawa's mentor) had given him a priority offer to trade in crude oil, so let's invest, so he started trading in crude oil. 5. After the oil settlement, he asks Takamura to withdraw the money, but he receives a request for money that he was not informed about from the beginning, such as ``You will need to pay a 5 million yen guidance fee to withdraw the money.'' I accepted the request and made the deposit, but this time I was told that I had to pay 20 million yen in taxes, so I was asked to remit the money again. This will of course be rejected. MGL Global's Yuki Takamura, Shuichi Sasagawa, Minoru Fukuda (Minoru Fukuda), Yoko Takahashi, and others are definitely a group of fraudsters. I'm also going to the police. Should we forgive such a fraudulent group?

FX2172368756
2024-03-29
Exposure
Yuki Takamura, a Japanese supporter, refuses to accept withdrawals unless he pays a fee that was not included in the previous guidance.

Exchange with Yuki Takamura (T) on MGL via Line Below, I will show the main exchanges between me and T in chronological order. (Me) Good morning. Crude oil futures were successfully settled. Thank you.  In that case, as I have been saying, I would like to withdraw money to give my wife peace of mind, but is it possible to do so today? thank you. (T) Congratulations on your payment. After settlement, you will need to pay 15% of the crude oil revenue as a commission. Mr. Senda's crude oil revenue is $229,500, and according to the calculation, the payment amount is $34,425, which is 5,111,975 yen when converted to Japanese yen. Please let us know when your payment is ready. We will prepare a dedicated account for you. After payment, you can freely withdraw money after logging into the CRM fund management system. (Me) Is it not possible to pay the fees with funds? (T) Yes, you must pay the fee to our dedicated account through your bank account. Do I currently need to apply for a dedicated account and make payments? (Me) This is yet another story that I don't know. Does this mean that I cannot withdraw money at all without paying the fee? Is it possible to withdraw even just $70,000? (T) Yes, that's right. If the fees have not been paid, no withdrawals will be possible. Once the fee has been paid, you can withdraw the funds yourself. (Me) I feel like I've been deceived.  Why do you always come out later? I want to stay here forever, but I feel a growing sense of distrust. (T) There is no deception at all. You can withdraw funds by paying a fee. Currently, many users pay fees and withdraw funds. (Me) Good morning. Mr. Fukuda announced that he would not be teaching for a while. Therefore, please settle the funds on the exchange. When it is ready, I will contact you with your bank account information. Thank you. (T) I'm smart. The fee to be paid is 5,111,975 yen. Please contact us when you are ready. Once again, we will prepare a bank account exclusively for payment. Thank you. (Me) No, it's the opposite. Please pay the funds in your account. thank you. (T)Currently, you can withdraw the full amount of $1,152,118.43 from your account by paying a fee of JPY 5,111,975. 1,152,118.43 dollars is converted to 174,227,957 yen at the current exchange rate. Please contact me when you are ready. thank you. (Me) No, please deduct 5,110,000 yen and transfer the amount to this designated account. (T) We do not have the authority to deduct fees from your account. Payments must be made through a personal bank account. (Me) Whether or not you have the authority is your problem. We are currently preparing a lawsuit against MGL Global in Colorado. We also plan to report to WikiFX and the police. If payment is not received within 24 hours, we will report the above to all relevant authorities and initiate a lawsuit. Please consider this. (T) I'm smart. We will also take appropriate legal measures to protect our rights and interests. Failure to pay may affect your credit rating and that of your family. In serious cases, your property may be liquidated by the court. Thank you. (I) I have nothing to lose anymore. If we take legal action, the actual situation in Japan will become clearer and we will get what we want. Please do it. (T) We recommend that you complete the fee payment as soon as possible in order to proceed with the withdrawal process. This will help avoid further deterioration of the situation. (I) I will reply to you exactly what you said. Please prepare the payment immediately. Others, K2! Mr. Sasakawa, who was teaching at a group line called Sasakawa Investment School, also made a comment that he personally guaranteed that the funds could be withdrawn if the fee was paid. I also received a photo of my personal driver's license, but it has now been deleted from the line along with my comments. If necessary, we will submit additional materials. Thank you.

チャーリー
2024-03-26

  

MGL Global 2025 Review: Everything You Need to Know

  MGL Global has emerged as a notable player in the forex brokerage sector since its inception in 2023. The broker offers a comprehensive trading platform with a wide range of assets, including forex, stocks, commodities, and cryptocurrencies. However, mixed reviews and concerns about its regulatory status raise questions about its reliability.

  Note: It is essential to consider that MGL Global operates across different regions, which may affect its regulatory compliance and user experience. This review aims to provide a balanced perspective based on various sources to ensure accuracy and fairness.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 6
Tools and Resources 5
Customer Service and Support 4
Trading Setup (Experience) 7
Trustworthiness 5
User Experience 6

  We assess brokers based on user feedback, expert opinions, and factual data from multiple sources.

  

Broker Overview

  Founded in 2023, MGL Global is headquartered in the United States and claims to operate under the oversight of the Financial Crimes Enforcement Network (FinCEN). While it offers access to a variety of trading instruments, including forex, commodities, and cryptocurrencies, its regulatory status remains questionable, with claims of an unauthorized license from the National Futures Association (NFA). The trading platform provided is a user-friendly web-based system that supports a range of trading tools and features.

  

Detailed Section

  Regulatory Regions:

  MGL Global is reported to be regulated by FinCEN, but it holds an unauthorized license from the NFA, which raises concerns about its legitimacy. According to sources, the broker has been associated with potential fraudulent activities, and users are advised to exercise caution.

  Deposit/Withdrawal Currencies/Cryptocurrencies:

  The broker supports various funding methods, including bank transfers and credit/debit cards. However, specific details regarding deposit and withdrawal currencies were not consistently mentioned across sources. Some reports suggest that cryptocurrencies like Bitcoin are available for trading, but the selection is limited.

  Minimum Deposit:

  MGL Global does not specify a minimum deposit requirement, which can be appealing for new traders. However, the lack of clarity regarding this aspect may deter potential clients seeking transparent terms.

  Bonuses/Promotions:

  There is little information on available bonuses or promotions, which is a common feature among competitive brokers. The absence of promotional offers may limit MGL Global's attractiveness compared to other brokers.

  Tradeable Asset Classes:

  MGL Global offers a diverse range of assets, including stocks, commodities, forex, and cryptocurrencies. This variety allows traders to diversify their portfolios and explore different market opportunities.

  Costs (Spreads, Fees, Commissions):

  The broker reportedly offers competitive spreads, potentially as low as 0 pips. However, commission fees of $7 per lot for forex and metals have been noted, which could impact overall trading costs. Users should be aware of these fees when planning their trading strategies.

  Leverage:

  MGL Global offers leverage options up to 1:500, which can be attractive for experienced traders looking to maximize their trading potential. However, high leverage also increases the risk of significant losses.

  Allowed Trading Platforms:

  The primary trading platform offered is a web-based interface, which is user-friendly and equipped with various analytical tools. However, the absence of more advanced platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5) may limit options for experienced traders.

  Restricted Regions:

  While MGL Global caters to a global audience, specific restrictions based on regulatory compliance were not detailed in the sources. Traders should verify whether they can access the platform from their respective regions.

  Available Customer Service Languages:

  Customer support is available in English, Japanese, and other languages. However, the quality of support has been criticized, with reports of slow response times and limited availability of live chat options.

  

Ratings Revisited

Category Rating (out of 10)
Account Conditions 6
Tools and Resources 5
Customer Service and Support 4
Trading Setup (Experience) 7
Trustworthiness 5
User Experience 6

  

Detailed Breakdown

  •   Account Conditions:

      MGL Global offers a flexible account setup, but the lack of a clear minimum deposit requirement may create uncertainty. User reviews indicate mixed experiences regarding account management.

  •   Tools and Resources:

      The trading platform includes basic analytical tools, but the overall resource offering is limited. Users seeking comprehensive educational resources may find this lacking.

  •   Customer Service and Support:

      Customer service has received negative feedback, particularly regarding response times. The absence of live chat support further diminishes the user experience.

  •   Trading Setup (Experience):

      The trading setup is straightforward and user-friendly, making it suitable for beginners. However, advanced traders may find the platform lacking in sophisticated features.

  •   Trustworthiness:

      Concerns about regulatory compliance and potential fraudulent activities have been raised. Users are advised to conduct thorough research before engaging with the broker.

  •   User Experience:

      Overall user experience is mixed, with some appreciating the trading interface while others express concerns about customer support and transparency.

  •   In conclusion, while MGL Global presents itself as a viable option for traders, potential users should carefully consider the risks associated with its regulatory status and customer service quality. As always, conducting thorough research and due diligence is crucial before committing to any trading platform.