Regarding the legitimacy of MagicForex forex brokers, it provides ASIC and WikiBit, (also has a graphic survey regarding security).
Is MagicForex safe?
Rating Index
Business
License
ASIC Revoked 
Is MagicForex markets regulated?
The regulatory license is the strongest proof.
ASIC Appointed Representative(AR)
Australia Securities & Investment Commission
Australia Securities & Investment Commission
Current Status:
RevokedLicense Type:
Appointed Representative(AR)
Licensed Entity:
Magnet Zone Management Pty Ltd
Effective Date:
2018-08-20Email Address of Licensed Institution:
lance.suntup@gleneagle.com.au53748:
No SharingWebsite of Licensed Institution:
www.tricom.com.auExpiration Time:
2018-11-19Address of Licensed Institution:
27 25 BliGh ST Sydney NSW 2000Phone Number of Licensed Institution:
02 8277 6675Licensed Institution Certified Documents:
MagicForex Similar Brokers Safe
Whether it is a legitimate broker to see if the market is regulated; start investing in Forex App whether it is safe or a scam, check whether there is a license.
MagicForex latest industry rating score is 1.57, the higher the score the safer it is out of 10, the more regulatory licenses the more legitimate it is. 1.57 If the score is too low, there is a risk of being scammed, please pay attention to the choice to avoid.