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Regulated in Australia
Straight Through Processing(STP)
MT4/5 full license
|Risk Management Index||0.00|
Moga International Group LLC
Platform registered country and region
Pyramid scheme complaint
still waiting and processing haven’t get back money
It deducted the money, but the money has not arrived till now... I have informed customer service many times, but it is uesless.
Arranged for Japanese traders to escrow the account and asked to withdraw and withdraw money later. They changed the password while I was sleeping at night. ! The key hosts did not explode
Been struggle to get my invested out from this company and all what i have gotten is disappointment and lies. Couple weeks ago , they promised that my fee will my granted and i waited but got nothing. Having to reach them is a big problem and i have filed a report with the police and wealth watchs and i am hoping to get my investment back
already how many year ago my withdraw still haven’t received
Does not withdraw for a long time. Cannot find anybody over half a year. Keep saying that the online service is limited and cannot help to process.
Fraud platform that does not allow to withdraw. Apply for withdrawal in September 2021. Now, it is April 18, 2022 and the withdrawal is still not successful. It is totally a fraud platform that deceive for deposit.
Moga is a subsidiary of usg, usg does not withdraw, and moga withdraws money very slowly. That day, they threatened me to delete the exposure, otherwise they would not withdraw money. Check out the conversation the new manager had with me. There is evidence, everyone beware of the subsidiary moga. No one is playing usg, so I open a moga to deceive more people. Everyone be careful.
Cannot withdraw for two years. Cannot contact the manager. Now, the account is manipulated to lose
The withdrawal applied for on January 13 has still not been withdrawn until the end of April. Asked the customer service, the answer is the same thing! It's all perfunctory!
To withdraw from the custody plan, the Japanese trader maliciously changed the transaction password to blow up the position in the early morning. Now I have to withdraw 100 usd for a week, and it has not yet arrived.
large fee was requested in order to withdraw. They promise to return all of my money and send mail to cover the withdrawal expenses. I paid the fees, but I never got a penny back. I have all the proof that Mogafx stole at least $54,900 before disconnecting me, and I filed a lawsuit all ready . All appeared to be lost, and I was glad it’s a pyramid scheme scam please don’t do it they lie about making profit.
Delinquent customer for 5-6 months. Failed to withdraw from September to now. Not one payment has been received
I applied for a withdrawal in September 2021, but I have not been able to withdraw until now, and they have always said that withdrawal surges. Bad platform, do not allow withdrawals.
I cannot contact my account manager, neither WeChat nor whatsapp. In October 2022, I have applied for a withdrawal on the official website, but there is no response so far, and there is no response to the official email.
I have submitted withdrawal from March till now, still haven't received my money. I called their number and they say to message the manager. I message them from the member site, they replied that there are so many withdrawals that I am in the queue. But already more than 4 months going on the 5th months, still waiting. I believe they are a scam. I asked someone to visit the Australia and also St Vincent's and Grenadines office, there is no office there. Stay far away from Mogafx everyone.
Online trading involves significant 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.
|MOGAFX Review Summary in 10 Points|
|Regulation||ASIC/FSPR (General Registration)|
|Market Instruments||Forex, commodities, indices|
|EUR/USD Spread||From 2.5 pips (Standard)|
|Trading Platforms||MT4, MT5, cTrader|
|Customer Support||24/7 live chat, phone, email|
MogaFX is a multi-asset broker, offers its clients access to a wide selection of 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. The broker also provides a range of trading platforms (MT4, MT5, cTrader) and tools, as well as education materials for traders of different levels.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
MOGAFX is a regulated broker offering various account types, trading platforms, and trading tools to its clients. The broker has competitive spreads and flexible leverage options. The availability of multiple deposit and withdrawal methods is also a plus.
However, the limited range of trading assets compared to other brokers may be a drawback for some traders. Additionally, some users have reported issues with withdrawals, which is a concern.
|• Licensed by ASIC and FSPR||• Limited product portfolios|
|• Negative Balance Protection||• Withdrawal issues reported by some users|
|• Segregated client trust accounts||• High minimum deposit requirement|
|• Multiple account types available|
|• Demo accounts available|
|• Flexible leverage options|
|• Both MT4 & MT5 supported|
|• Multiple payment methods|
|• 24/7 customer support|
|• Rich educational resources|
There are many alternative brokers to MOGAFX depending on the specific needs and preferences of the trader. Some popular options include:
XTB - a reputable forex and CFD broker with a user-friendly platform, advanced research tools, and competitive pricing.
FBS - a popular forex broker that offers low-cost trading, a wide range of account types, and excellent customer service.
Forex Club - a well-established forex broker with a strong reputation for transparency, low trading costs, and a user-friendly platform.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Two entities behind this MOGAFX licensed in the following authorities:
MOGA INTERNATIONAL GROUP PTY LTD registered Common Financial Service License from Australia Securities & Investment Commission (ASIC), License No. 501156.
MOGA INTERNATIONAL GROUP LIMITED registered Financial Service Corporate License from Financial Service Providers Register (FSPR), License No. 1002414.
MOGAFX also offers Negative Balance Protection and all client funds are held in segregated client trust accounts with top tier banks in accordance with Client Money Laws and Regulations. Based on the above, it appears that MOGAFX is a reliable broker to trade with. However, as with any investment, caution should be exercised, and it is important to conduct your research before making any financial decisions.
It is true that MOGAFX offers a more limited selection of trading assets compared to some other forex brokers. However, it is important to note that they still offer a range of popular assets such as Forex Currencies, Indices, and Commodities, which may be sufficient for many traders.
Demo accounts: The broker provides a demo account with a 30-day risk-free trading period and $100,000 virtual capital, which is a great way for traders to practice their trading strategies and test out the broker's trading conditions before committing to a real account.
Live accounts: MOGAFX also offers a range of six live account types to cater to different types of traders with varying needs and preferences, 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， which may be suitable for different traders.
MOGAFX offers flexible leverage of 1:100, 1:200, 1:400, and 1:500 for Standard, VIP, ECN, Raw-spread, and M1 accounts. However, clients on the Swap-free account can only have a maximum leverage of 1:100.
While leverage can amplify potential profits, it also increases the risk of significant losses. Therefore, it's important for traders to understand the risks involved and use leverage responsibly, especially for beginner traders who should start with lower leverage until they gain more experience.
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. However, the fact that there is no commission charged on any of the accounts is a positive aspect. It is important to note that trading costs can have a significant impact on profits, and traders should carefully consider these costs before opening an account with any broker.
Below is a comparison table about spreads and commissions charged by different brokers:
|XTB||0.1 pips||$3.5 per lot (round trip)|
|Forex Club||0.6 pips||No|
Note that the spreads and commissions may vary depending on the account type and trading platform used by each broker. It's always important to check the broker's website for the most up-to-date information.
MOGAFX provides traders access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the cTrader platform for Desktop and Web. These platforms are available on iOS, Android, and Windows, providing traders with a seamless trading experience across multiple devices. The platforms are user-friendly and equipped with a range of tools and features to help traders analyze the markets, execute trades, and manage their positions effectively.
Overall, MOGAFX's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
|MOGAFX||MetaTrader 4, MetaTrader 5, cTrader|
|XTB||xStation 5, MetaTrader 4|
|FBS||MetaTrader 4, MetaTrader 5|
|Forex Club||StartFX, Rumus, Libertex|
Note that some brokers may offer additional platforms, but the above table includes the primary trading platforms offered by each broker.
In addition to the tools built into the provided trading platforms, the broker makes available a selection of useful standalone trading tools to enhance the trading experience for its clients. The broker offers Autochartist, a powerful tool that provides technical analysis and trading signals for a variety of instruments, including forex, indices, and commodities. Additionally, MOGAFX also offers TradingView, a popular platform that provides advanced charting capabilities, as well as access to a global community of traders.
Moreover, MOGAFX's own platform, MOGA Trade Plus+, offers advanced charting tools, one-click trading, and access to real-time market news and analysis. Finally, the broker offers a unique loyalty program called MOGA Point Reward Mall, which allows traders to earn points that can be redeemed for various rewards, including trading bonuses, gadgets, and other merchandise. Overall, MOGAFX's trading tools and resources provide traders with a comprehensive suite of options to help them make informed trading decisions.
MOGAFX accepts deposits and withdrawals via Bank Wire Transfer, Perfect Money, Fasapay, Online Banking in Thailand, Malaysia, Indonesia, Vietnam, Korea, and Philippines, CoinPayments of Bitcoin and Tether, GCPAY, B2B in PAY of Bitcoin and Tether, Sticpay, Skrill and Neteller.
Some deposits and withdrawals are free, while others may charge some fees. Most deposits are instant, and most withdrawals require 3-5 working days. More details can be found in the below screenshot.
MogaFX offers a 24/7 customer support team who are available to respond to clients general technical, and account-related inquiries. Clients can reach the support team via phone, email, and live chat. They also have an FAQ section on their website, which is helpful for answering common questions. The customer service representatives are generally knowledgeable and respond quickly to queries. The broker also offers support in multiple languages, making it easy for traders from different parts of the world to get assistance.
Overall, MOGAFX's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
|• 24/7 live chat support available||• No social media support for customer service|
|• Multiple languages supported for customer service||• Reports of slow response time and difficulty withdrawing|
|• Quick response time for customer inquiries|
|• FAQ section available for self-help|
|• Personalized support provided for each client|
Note: The information provided in this table is based on online research and user feedback, and may not be exhaustive or representative of all experiences.
MOGAFX offers a variety of educational resources for traders of different skill levels. The broker provides a blog section that covers a wide range of topics related to trading, including market analysis, trading strategies, and industry news. The Account Opening Guide and Trading Guide can help beginners understand the process of opening an account and how to trade different financial instruments.
Additionally, the broker offers an economic calendar that displays important events and data releases that may impact the financial markets. Traders can also access a glossary that provides explanations of common trading terms and concepts. These resources can be useful for both novice and experienced traders who want to improve their knowledge and skills in the financial markets.
Based on the information provided on their website, MOGAFX seems to be a legitimate forex broker with proper licenses. However, it is important to note that some users have reported issues with withdrawals.
It is always recommended to exercise caution and do thorough research before investing with any broker. It is also recommended to check our platform and other reliable sources for information and reviews about the broker before making any decisions. If you encounter any issues with MOGAFX or any other broker, please report it to the relevant authorities and let us know in the Exposure section so that our team of experts can investigate and provide assistance if possible.
As a whole, MOGAFX appears to be a reliable broker with a range of account types and trading platforms to suit different traders' needs. They offer a good range of trading tools and educational resources, and their customer service is available 24/7.
However, it is concerning to see reports of issues with withdrawals from some users, and their product offering is somewhat limited compared to other brokers. Traders should exercise caution and do their own research before deciding to invest with MOGAFX.
|Q 1:||Is MOGAFX regulated？|
|A 1:||MOGAFX holds general registered licenses of Australia Securities & Investment Commission (ASIC) and Financial Service Providers Register (FSPR).|
|Q 2:||Does MOGAFX offer demo accounts？|
|Q 3:||Does MOGAFX offer the industry-standard MT4 & MT5？|
|A 3:||Yes. It supports MT4, MT5 and cTrader.|
|Q 4:||What is the minimum deposit for MOGAFX？|
|A 4:||The minimum initial deposit to open an account is $1,000.|
|Q 5:||Is MOGAFX a good broker for beginners？|
|A 5:||No. It is not a good choice for beginners. Thought it advertises very well, there are too many negative reviews complaining the withdrawal issue.|
MOGA is launching a series of bonuses to invite all traders to join and have fun.