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Scam Brokers
Score
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The WikiFX Score of this broker is reduced because of too many complaints!
MOGAFX
Australia|2-5 years| Suspicious Regulatory License|cTrader|Suspicious Scope of Business|Suspicious Overrun|High potential risk|
https://www.mogaforex.com/?culture=en-US
Website
Rating Index
Influence
Influence
C
Influence index NO.1
Luxembourg 3.05Surpassed 18.60% brokers
Biz AreaSearch StatisticsAdvertisingSocial Media Index
Contact
+61 291890220
service@mogafxglobal.com
https://www.mogaforex.com/?culture=en-US
First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines
The WikiFX Score of this broker is reduced because of too many complaints!
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
Open Now
Contact number
English
+61 291890220
English
+61 291379799
Other ways of contact
Broker Information
More
Company Name
Moga International Group LLC
Abbreviation
MOGAFX
Platform registered country and region
Australia
Company website
Pyramid scheme complaint
Expose
Check whenever you want
Download App for complete information
This platform is a Ponzi Scheme. Please stay away!
5
Previous Detection :
2024-12-14
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
- The number of the complaints received by WikiFX have reached 69 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
- The AustraliaASIC regulation (license number: 501156) claimed by this broker is suspected to be clone. Please be aware of the risk!
- The New ZealandFSPR regulation (license number: 1002414) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 10,000 USD |
| Minimum Spread | from 1.5 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (33+) Bank transfer PerfectMoney BTC USDT |
| Withdrawal Method | (32+) Bank transfer PerfectMoney BTC USDT |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 10,000 USD |
| Minimum Spread | from 0 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (33+) Bank transfer PerfectMoney BTC USDT |
| Withdrawal Method | (32+) Bank transfer PerfectMoney BTC USDT |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 50,000 USD |
| Minimum Spread | from 0 |
| Products | -- |
| Currency | BTC,ETH,LTC,LINK,XRP,XLM,DOT |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (33+) Bank transfer PerfectMoney BTC USDT |
| Withdrawal Method | (32+) Bank transfer PerfectMoney BTC USDT |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 10,000 USD |
| Minimum Spread | from 1.5 |
| Products | -- |
| Currency | BTC,ETH,LTC,LINK,XRP,XLM,DOT |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (33+) Bank transfer PerfectMoney BTC USDT |
| Withdrawal Method | (32+) Bank transfer PerfectMoney BTC USDT |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 1,000 USD |
| Minimum Spread | from 2.5 |
| Products | -- |
| Currency | BTC,ETH,LTC,LINK,XRP,XLM,DOT |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (33+) Bank transfer PerfectMoney BTC USDT |
| Withdrawal Method | (32+) Bank transfer PerfectMoney BTC USDT |
| Commission | -- |
LUSAPAY
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 0.50% | Floating | -- | CNY |
Alogetway
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.50% | Floating | -- | CNY |
P88
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.50% | Floating | -- | MYR , VND , PHP , IDR |
H2P
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.50% | Floating | -- | MYR , VND , PHP , IDR |
TVPAY
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.50% | Floating | -- | MYR , VND , THB |
WALAO PAY
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.50% | Floating | -- | IDR , THB , VND , MYR |
PAYMENT ASIA
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 3.50% | Floating | -- | PHP |
Wire transfer
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | According to the fees shown on the bank chart | Floating | -- | AUD , USD |
Skrill
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | According to the fees shown on the bank chart | Floating | -- | USD |
Neteller
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | According to the fees shown on the bank chart | Floating | -- | USD |
FASYPAY
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | According to the fees shown on the bank chart | Floating | -- | USD |
Sticpay
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.5%+0.3USD | Floating | -- | USD |
EUPaymentz
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 7.00% | Floating | -- | USD |
LUSAPAY
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 1.25% | Floating | -- | CNY |
Alogetway
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 2.50% | Floating | -- | CNY |
P88
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | MYR , VND , INR |
H2P
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | MYR , VND , IDR |
WALAO PAY
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | THB , IDR , VND , MYR |
TVPAY
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | VND , THB |
PAYMENT ASIA
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 2% | Floating | -- | PHP |
Wire transfer
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 40 USD | Floating | -- | USD , AUD |
Wire transfer-Myanmar
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | MMK |
Wire transfer-Cambodia
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | USD |
Skrill
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 1% | Floating | -- | USD |
Neteller
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 1% | Floating | -- | USD |
FASYPAY
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | USD |
PerfectMoney
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | USD |
Sticpay
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 2.5%+0.3USD | Floating | -- | USD |
EUPaymentz
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 10 USD | Floating | -- | USD |
BitEx
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 1U/5U | Floating | -- | CNY , USDT |
BitEx
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | 2.50% | Floating | -- | USDT |
CoinPayments
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 10 USD | Floating | -- | USDT |
GCPAY
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | -- | Floating | -- | USDT |
CoinPayments
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | -- | Floating | -- | USDT |
GCPAY
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | -- | Floating | -- | USDT |
B2Binpay
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 25 USD | 10 USD | Floating | -- | USDT |
B2Binpay
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | <250USDT : 10 USDT; >250USDT : 1% | Floating | -- | USDT |
Wire transfer-Myanmar
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | -- | Floating | -- | MMK |
PerfectMoney
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | -- | Floating | -- | USD |
Wire transfer-Cambodia
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| 0.01USD | -- | Floating | -- | USD |
Platform Capital Ratio
--% 
-- --
100%--% 100%
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
cTrader
Perfect
cTrader
Perfect
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MOGAFX · Company Summary
Note: MOGAFX's official website: https://www.mogaforex.com/?culture=en-US is currently inaccessible normally.
| MOGAFX Review Summary | |
| Founded | 2020 |
| Registered Country/Region | Australia |
| Regulation | Suspicious Clone |
| Market Instruments | Forex, commodities, indices |
| Demo Account | Yes |
| Leverage | Up to 1:500 |
| Spread | From 0 pips |
| Trading Platform | MT4, MT5, cTrader |
| Min Deposit | $1,000 |
| Customer Support | +61 291890220 |
| service@mogafxglobal.com, service@mogafx.com | |
MOGAFX Information
MogaFX is a multi-asset broker, offering its clients access to many trading assets, including forex, indices, and commodities. MOGAFX offers six account types with different minimum deposit requirements and flexible leverage options up to 1:500 through MT4, MT5, and cTrader. However, it requires a high minimum deposit of 1,000 USD.
Pros and Cons
| Pros | Cons |
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Is MOGAFX Legit?
MOGAFX has a Straight Through Processing(STP) regulated by the Australian Securities and Investments Commission (ASIC) in Australia with a license number of 501156, and it is a Financial Service Corporate regulated by the Financial Service Providers Register (FSPR) in New Zealand with a license number of 1002414. However, both licenses are Suspicious Clone.
| Regulatory Status | Suspicious Clone |
| Regulated by | Straight Through Processing(STP) |
| Licensed Institution | SPECTRE FINANCIAL GROUP AUSTRALIA PTY LTD |
| Licensed Type | Straight Through Processing(STP) |
| Licensed Number | 501156 |
| Regulatory Status | Suspicious Clone |
| Regulated by | The Financial Service Providers Register (FSPR) |
| Licensed Institution | MOGA INTERNATIONAL GROUP LIMITED |
| Licensed Type | Financial Service Corporate |
| Licensed Number | 1002414 |
What Can I Trade on MOGAFX?
MOGAFX offers many trading assets such as Forex Currencies, Indices, and Commodities.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrency | ❌ |
| Shares | ❌ |
| Metals | ❌ |
Account Type
MOGAFX provides a demo account with a 30-day risk-free trading period and $100,000 virtual capital. MOGAFX also offers six live account types including Standard, VIP, ECN, Raw-spread, M1, and Swap-free accounts. Each account has different minimum deposit requirements, $1000, $10,000, $50,000, $10,000, $10,000, and $5,000 respectively. You can refer to the table for details.
| Account Type | Minimum deposit | Spreads from | Minimum lot size | Leverage |
| Standard | 1,000 USD | 2.5 pips | 0.01 | 1:100, 1:200, 1:400, 1:500 |
| VIP | 10,000 USD | 1.5 pips | 0.01 | 1:100, 1:200, 1:400, 1:500 |
| ECN with low spread | 50,000 USD | 0 pips | 0.01 | 1:100, 1:200, 1:400, 1:500 |
| RAW-SPREAD | 10,000 USD | 0 pips | 0.01 | 1:100, 1:200, 1:400, 1:500 |
| M1 | 10,000 USD | 1.5 pips | 0.01 | 1:100, 1:200, 1:400, 1:500 |
| SWAP-FREE | 5,000 USD | 2.8 pips | 0.01 | 1:100 |
MOGAFX Fees
Spreads differ from various trading accounts. The spread starts from 2.5 pips on the Standard account, from 1.5 pips on the VIP and M1 accounts, from 0 pips on the ECN and Raw-spread accounts, and from 2.8 pips on the Swap-free account. There is no commission charged on any of the accounts.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader 4 (MT4) | ✔ | PC and Mobile | Investors of all experience levels |
| MetaTrader 5 (MT5) | ✔ | PC and Mobile | Investors of all experience levels |
| cTrader | ✔ | PC and Mobile | Investors of all experience levels |
Deposit and Withdrawal
MOGAFX requires a minimum deposit of 1,000 USD for the Standard account.
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