Score
Australia
|
5-10 years
| https://www.mogaforex.com/?culture=en-US
Website
Rating Index
Australia
mogainternational.com mogaforex.com mogafx.comNote: 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 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 | Cons |
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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 |
MOGAFX offers many trading assets such as Forex Currencies, Indices, and Commodities.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrency | ❌ |
| Shares | ❌ |
| Metals | ❌ |
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 |
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 | 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 |
MOGAFX requires a minimum deposit of 1,000 USD for the Standard account.
In this article, WikiFX will reveal the top 3 brokers that have received the most complaints in Malaysia within March 2024! Beware users!
In this article, we'll examine MogaFX's key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service.
MOGA is launching a series of bonuses to invite all traders to join and have fun.
MOGAFX offers multiple account types, access to MetaTrader 4, MT5, and cTrader, high leverage up to 1:500, and a wide range of tradable assets including forex, metals, crypto, and stock index CFDs.
MOGAFX does not charge commissions on any account type, but it applies varying spreads. Standard accounts start from 2.5 pips, and the ECN account charges a $6 commission per lot.
Standard accounts start at 2.5 pips, VIP and M1 accounts at 1.5 pips, ECN accounts at 0 pips, and Swap-free accounts at 2.8 pips.
MOGAFX is not considered safe or legitimate because it operates under suspicious clone licenses. This lack of genuine regulation exposes traders to significant financial risks.
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Bitter sweet and sour
Hong Kong
All sales have left and funds cannot be withdrawn.
Exposure
工作狂
Hong Kong
It’s been 4 months and I can’t withdraw money. Don’t let more people be deceived.
Exposure
FX1029994336
Hong Kong
From December 21, 2023, my 27,000 USD can't be withdrawn. It's a scam company by the Taiwanese! The so-called regulation is all lies, please be careful.
Exposure
Venki
United States
MOGAFX is cool in that they give you options for how much leverage you want, which is good because it depends on how much risk you're willing to take. They also have a bunch of different things to trade, like currencies, commodities, and maybe even crypto.
Positive
Abel Gert
Netherlands
I am always busy with forex pairs and commodities. The platform's user experience is top-notch, smooth sailing all the way!
Positive
FX8948351642
Malaysia
unable withdraw a few month almost 1 years
Exposure
Fx4679443
United Kingdom
i want to withdraw my fund from phemexproe but the customer service said currently my a count is in frozen position so i cant withdra w my fund. if i want to unfrozen my account t o do the fund withdraw i have to psy usd25388 8.because of they system problem but_hav e to pay the fixing fee?i think its theyib for × the problem not the customer.
Exposure
Fung0078
Hong Kong
MogaFx does not respond to emails and withdrawal requests are not approved. They subsequently sent an email explaining that the platform was having issues with withdrawals and that MogaFX would be shutting down soon. When I requested the withdrawal, they told me they could not process the withdrawal if it did not meet insurance requirements. I opened a new investment account and then requested a withdrawal. MogaFX If my money doesn't arrive today I will expose you.
Exposure
盈十李兄fu1543649432
Taiwan
MOGA is officially closed ......... The ads kept saying it was fine, but it's finally shutting down. When I saw the 200% WTPA a month, I felt it was a huge risk to use MOGA.
Exposure
Jeff861
Malaysia
can anyone help me contact mogafx to withdraw my usdt?
Exposure
一切向前看
Hong Kong
I was trading normally, but I was not allowed to withdraw money. It was a rubbish platform. I used to be able to contact online customer service, but now no one is online.
Exposure
柴汉卿
Hong Kong
I have applied for withdrawal for a long time. I asked the community and contact, they said my account is locked. I never get reply from contact on the website.
Exposure
Chun2511
Hong Kong
Unable to withdraw money, there is no reply from CS on the platform. My CS told me that the company is going to collapse, but they all laid off and disbanded. Moga 客戶 Tsang Kam Chi lamchunchun23@yahoo.com.hk Tsang Kam Chi 2036031 50422.44usdt Tsang Kam Chi 2036026 51442.78usdt Tsang Kam Chi 2036035 20140.7usdt There are many withdrawal applications, because I can only apply for 5000usdt each time.
Exposure
廖31614
Malaysia
It has been many days since I applied for a withdrawal, but the funds on mt4 were not deducted. I cannot contact customer service. The contact information on the official website is gone. It is suspected that the platform has run away.
Exposure
廖31614
Malaysia
It has been a few days since I requested to withdraw money, but no action has been taken. The funds in mt4 are still the same. Please help. Upload the records of deposits and withdrawals.
Exposure
justink261
Hong Kong
My application for withdrawal on December 22nd showed failure, and then I reapplied for withdrawal and it has not been processed yet. I sent emails and contacted customer service, but no one paid attention to it and it was not processed. A total of 3,000 US dollars was my deposit.
Exposure
嗯123
Hong Kong
Unable to withdraw money, customer service cannot be contacted on the official website. No one cares, and the business manager keeps evading. The platform has suspended businesses.
Exposure
嗯123
Hong Kong
Unable to withdraw money. I have withdrawn money for almost half a month and have not been given out. I followed their strategy and suffered serious losses. The remaining funds are not allowed to withdraw.
Exposure
FX3710398925
Hong Kong
Today, my trading account on the MOGAFX platform is 2032769, with a balance of 1,390 US dollars. It has been more than a week since I applied for a withdrawal. Today, I was informed by the account manager that MOGA has temporarily terminated, and deposits and withdrawals for agent customers and account managers are suspended.
Exposure
゛╭ァonly me℡on
South Africa
It all began when I noticed an interesting movement in the oil market. With the news of a potential oil production cut by major oil countries, I decided to go long on Brent Crude through MOGAFX. Once again, the user-friendly MOGAFX platform provided me with a seamless trading experience. I could monitor the price fluctuations in real-time, and all the necessary tools were readily available, making my trading process exceptionally smooth. As expected, the oil prices surged after the production cut news was confirmed. Excitedly, I decided to close my position. MOGAFX, true to its reputation, processed my trade promptly and efficiently. I was more than satisfied when I saw the profits earned were already reflecting in my account - a testament to their swift and flawless withdrawal process.
Positive