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Score

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/10

MogaFX

Saint Vincent and the Grenadines|2-5 years|
Suspicious Scope of Business|High potential risk|

https://www.mogaforex.com/

Website

Rating Index

Contact

+61291890220
service@mogafxglobal.com
https://www.mogaforex.com/
First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+61291890220

Broker Information

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Company Name

Moga International Group LLC.

Company Abbreviation

MogaFX

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-05-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 501156) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

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MogaFX · Company Summary

Risk Warning

The Australia ASIC regulatory (license number: 501156) claimed by this broker is a suspicious clone, please be aware of the risk!

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

General Information & Regulation

MogaFX, a trading name of Moga International Group LLC., presents itself as a modern multi-asset broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 0 pips on the state-of-the-art MetaTrader4 and MetaTrader5 trading platforms, as well as a choice of four different live account types and 24-hour customer support service. Here is the home page of this brokers official site:

General Information & Regulation

As for regulation, it has been verified that MogaFX has a suspicious clone Australia Securities & Investment Commission (ASIC) license. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and it receives a relatively low score of 1.15/10. Please be aware of the risk.

General Information & Regulation
General Information & Regulation

Market Instruments

MogaFX advertises that it mainly offers four different asset classes, covering Forex Currencies, CFDs, Indices and Commodities.

Market Instruments

Account Types

Apart from demo accounts, MogaFX claims to offer four types of live trading accounts, namely Standard, VIP, ECN and Raw-spread. The minimum initial deposit amount is extremely high-$1,000 for the Standard account, $10,000 for the VIP and Raw-spread account, and $50,000 for the ECN account. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

MogaFX claims to offer flexible leverage for all account types, and the clients can choose the leverage ratio of 1:100, 1:200, 1:400 or 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

MogaFX claims to offer four different account types. Specifically, the spread starts from 2.5 pips on the Standard account and 1.5 pips on the VIP account, while the ECN and Raw-spread account holders can enjoy spreads from 0 pips.

Trading Platform Available

Platforms available for trading at MogaFX are the worlds leading MetaTrader4 and MetaTrader5. Both are available to run via Web Trader and mobile apps (iOS and Android). In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Trading Platform Available
Trading Platform Available

Deposit & Withdrawal

MogaFX says to work with numerous means of deposit and withdrawal choices, consisting of Bank Wire Transfer, Perfect Money, Fasapay, Online Banking, CoinPayments, GCPAY, B2B in PAY, Sticpay, Skrill and Neteller. The minimum initial deposit requirement is as high as $1,000, while there is no mention of what the minimum withdrawal amount is. Deposit and withdrawal fees, as well as their processing time, differ on payment methods, and you can find more details by yourself in the below screenshots.

Deposit
Deposit
Deposit
Withdrawal
Withdrawal
Withdrawal

Customer Support

MogaFXs customer support can be reached by telephone: +61291890220, email: service@mogafxglobal.com or live chat. Company address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

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GRMFX经纪人-果果
more than one year
Quick order and great trading tools. I have traded with several brokers, but I am yet to find a broker like MogaFX. The greatest part is the ability to place orders quickly and the tools they provided to make trading easy even if you are a beginner.
2023-02-28 18:03
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