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MG Market

China|2-5 years|
White label MT5|Regional Brokers|High potential risk|

https://mgmxtrade.com/index.php

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
PrimesFX-Server MT5
Server Location United States

Contact

https://mgmxtrade.com/index.php

Licenses

No valid regulatory information, please be aware of the risk!

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

Single Core

1G

40G

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Contact number

Broker Information

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Company Name

MG Market

Company Abbreviation

MG Market

Platform registered country and region

China

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-06-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

MG Market · WikiFX Survey

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MG Market · Company Summary

basic-info

General Information

MG Market is an offshore forex broker providing easy access to a massive financial market, and investors have the flexibility to choose from a range of financial instruments, such as currency pairs, Metals, Energies, Indices. With the MG Market platform, four trading accounts are available: Cent, Standard, ECN Pro, and ECN Prime, the minimum deposit to trade with this broker from $10. MG Market does not disclose who runs it, and this forex broker does not hold any regulatory license to show it operates legally. Please be aware of the risk.

Market Instruments

With the MG Market platform, four classes of trading instruments including Currency Pairs, Metals, Energies, and Indices are all available through this brokerage platform.

Account Types

Culture Capital provides four trading accounts for both retail and professional account: Cent, Standard, ECN Pro, and ECN Prime. Traders who want to open a Cent, Standard, and ECN Pro account only need to fund $10 into the account. The ECN Prime account requires a much higher initial deposit, starting at $20,000.

Swap-free account options are available with these four trading accounts.

account-types

How to open an account with MG Market?

Opening an account with MG Market is an easy and simple process:

1. Click the “Open an Account” link, and fill up some required details on the popping-up page.

account

2. Upload your personal data for this company to verify your details.

3. Choose the preferable payment methods, fund your account and start to trade with this forex broker.

Leverage

Concerningly, MG Market allows its clients to use leverage of up to 1:1000, higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.

Since leverage can magnify gains as well as losses, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.

Spreads & Commissions

Spreads and commissions are tightly associated with account types. The Cent account and the Standard account offer a commission-free trading environment, accompanied by wide spread starting at 2.5 pips and 1.5 pips, respectively. The ECN Pro and ECN Prime account provide competitive spreads and charge additional commissions. The ECN Pro account offers spreads from 0.1 pips, with a commission of $88 per lot charged. The ECN Prime account offers spreads from 0.0 pips, with a commission of $3 per lot charged.

Trading Platform

Culture Capital provides access to the industry-leading MT4 trading platform, which can be accessed on any device, Windows, Desktop, IOS, and Android. The MT4 trading platform allows one-click operations for opening and closing trades, setting stops and entry limits, placing direct orders, setting and editing limit and stop loss, as well as charting.

More importantly, EAs (Expert Advisor) are supported for traders to automate trading during all trading session.

Payment Methods

The minimum deposit to invest with MG Markets is $10. This brokerage house allows its clients to make deposits and withdrawals through multiple payment methods, such as VISA, MasterCard, Skrill, Neteller, PayPal, Perfect Money.

payment-methods

Customer Support

MG Markets does not leave any contacts information for clients with any inquires or trading-related issues to get in touch with them.

You can only keep up with MG Markets activities through Facebook, Instagram and Twitter.

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.

User Reviews

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FX1629928471
more than one year
Ever since I signed up for a demo account with MG Market, my contact information has been misused. Every single day, I receive poorly pronounced calls from various domestic and international numbers, trying to sell me suspicious products. It's incredibly frustrating and intrusive. This experience has seriously diminished my trust in the platform's data security measures.
2024-02-28 15:19
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0
0
潇洒哥
more than one year
You can open an account with this company for as little as $10, which is really attractive! Has anyone traded here before and can give me some advice?
2022-12-12 13:42
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