Is MAGIC COMPASS safe and legit？ Full review
MAGIC COMPASS is a Cyprus-based broker that was established in 2016 and is regulated by the Cyprus Securities and Exchange Commission (CYSEC). It offers three account types with a fully digital account-opening process, and it operates on the MT5 platform under a full MT4/5 license. Customer service is available in English and covers Cyprus, although response times may be lengthy, and the broker does not offer biometric login. Multiple disclosures are also noted. Its influence rating is D, with the strongest presence in the United States.
Regulatory Compliance and Security
MAGIC COMPASS is regulated by the Cyprus Securities and Exchange Commission (CYSEC), which supervises the entity MAGIC COMPASS LTD under regulation number 299/16. The regulatory status is compliant, with a safety level of Level 1.
Account Type
MAGIC COMPASS offers 3 account types.
Trading software
MAGIC COMPASS uses the MT5 trading platform, which is fully licensed, and the platform experience is rated as perfect. MT5 offers broad customization, support for multiple languages, and clear expense reports, though it lacks two-step login and biometric authentication.
MT4/5 Server Distribution:
- MagicCompass-live (Hong Kong)
- MagicCompass-live (United Kingdom)
Customer Service
MAGIC COMPASS customer service supports 6 languages and covers 1 service region (Cyprus). Most inquiries can be answered by phone or email, though response times may be lengthy.
⚠️ Most users can receive a response, but the waiting time may be lengthy.
Influence
MAGIC COMPASS has an influence rating of D, with its influence mainly distributed in the United States and an average influence index of 4.27.
5-10 years
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