Company Summary
Note: Mgmex's official website https://www.mgmexport.com/#/ is currently inaccessible normally.
| MgmexReview Summary | |
| Founded | 2018 |
| Registered Country/Region | United States |
| Regulation | No regulation |
| Market Instruments | Commodity Futures |
| Demo Account | / |
| Leverage | / |
| Trading Platform | Mgmex Platform APP |
| Min Deposit | / |
| Customer Support | 24/7 live chat |
Mgmex is a commodity futures trading company which was registered in 2018 in the United States. It is not regulated, and detailed information is limited. This company uses its own trading platform, and it offers 24/7 live chat services. Since it lacks regulation, potential risks cannot be ignored.
Pros and Cons
| Pros | Cons |
| None | Lack of regulation |
| Unavailable website | |
| Limited information |
Is Mgmex Legit?
Mgmex is not regulated by the financial services regulatory authority in the United States. Moreover, the current status shows that client transferring is prohibited.
What Can I Trade on Mgmex?
Mgmex is a commodity futures company, and the products offered by it include USOil, XAGUSD, UKOil, NGAS, NG0W, HO0W, RB0W, and G0W.
Trading Platform
| Trading Platform | Supported | Available Devices |
| Mgmex | ✔ | Mobile (iOS, Android) |
ひよこ
Japan
I installed the app, presented my ID, and opened an account. Deposit money into your personal account several times according to the instructions of customer service. I made a profit on dozens of trades. When I requested a full withdrawal, I was asked to pay a 20% service fee within 3 days. Since I can't pay, I asked them to stop the withdrawal, but it has already been approved. If you don't pay within 3 days, it will be frozen. The transaction was carried out as instructed by Hank, who calls himself Korean, on LINE. The total amount of damage deposited was 9.5 million yen.
Exposure
Ve2523
Indonesia
After trading, I can't access the application and website. All my money cannot be withdrawn.Be careful this guy is doing investment fraud.
Exposure
Nguyễn Khắc Duy
Vietnam
My account was frozen and I was not allowed to withdraw money. And I had to pay extra money to withdraw. I deposited 20,000 USD into my account, my account currently has an interest of more than 100,000 USD. I was not allowed to withdraw money but had to pay an additional 32,000 USD for it. I hope you can help me solve it.
Exposure
HuyenTrang
Vietnam
The exchange asked me to pay money to verify my account and I did. But after I finished depositing money, the exchange froze my account. I asked customer service and received an unsatisfactory explanation and I was asked to continue depositing for verification. The amount in my frozen account is $17374.6576. Please help me
Exposure
tu2319
Vietnam
Asked me to deposit more money to withdraw \
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Natashi
Vietnam
At the beginning of May 2023, there was a person who became acquainted with me and said he was an investment finance expert. They instructed me to open an account and after that I was unable to withdraw from my account. Noticing it a scam I sent a message to the NFA licensing authority. However, this agency does not regulate the Mgmex trading platform. After that, I contacted IT to check the information and this exchange was set up and launched in Hong Kong, China. Everyone beware of this exchange. I hope the mediation center can contact and investigate so I can get my lost money back.
Exposure
Natashi
Vietnam
I can't withdraw money from my investment account. Even though my account is at $1,100,000. I need help.
Exposure