With registered offices in Australia and Saint Vincent and the Grenadines, MogaFX is a modern multi-asset broker that offers a global clientele competitive trading conditions, trading education, and cutting-edge trading tools. They offer a wide range of financial assets — Forex Currencies, Indices, and Commodities — for trading on the popular MetaTrader 4 and MetaTrader 5 platforms. The minimum deposit required to begin trading is $1000.
MogaFX Review, Pros & Cons
- Regulated brokerage firm
- User-friendly trading platforms for desktop, web & mobile
- Educational materials to support traders
- Some trading tools
- Limited account funding options
- Limited trading instruments compared to some other brokers
- A minimum deposit of $1,000
- No USA traders
In this detailed MogaFX review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
MogaFx is an online retail broker that provides traders with all the resources — advanced trading platforms, educational materials, and useful trading tools — needed for trading over 60 financial instruments. Traders get competitive trading conditions, including negative balance protection, leverage of up to 1:500, multiple account types, tight spreads, fast trade execution speeds, and more.
MogaFX International Group Pty Ltd (Moga / AU) ‘s headquarter is located in Sydney, Australia and is regulated by the Australian Securities and Investment Commission (ASIC) and operates under an Australian Financial Services License (AFSL: 501156).
MogaFX International Group LLC (Moga / SV) ‘s headquarter is located in St Vincent and the Grenadines, and is regulated by the Financial Services Authority of Saint Vincent and the Grenadines (FSA), and operates under Saint Vincent and the Grenadines(FSA：532LLC2020).
The broker accepts traders from different parts of the globe provided that their respective country of residence permits online trading with international brokers.
Some MogaFX features and products mentioned within this MogaFX review may not be available to traders from certain countries because of legal restrictions.
MogaFX provides traders with the MT4 and MT5 trading platforms. These are advanced trading platforms that are loaded with a wide array of built-in charting and analytical tools. Both platforms support automated trading via expert advisors (EAs). Beginners and experienced traders will find them useful owing to their easy-to-use interfaces and complex trading functionalities. The MT4 and MT5 trading platforms have similar features and trading capabilities. However, MT5 has more advanced features and capabilities than MT4.
Both the MT4 and MT5 trading platforms are available as desktop applications for Windows and Mac computers; WebTrader that runs directly on modern web browsers (Chrome, Firefox, Safari, and Edge); and a mobile trading app that is compatible with Android and iOS devices and can be downloaded from the respective app stores.
MogaFX Trading Tools
In addition to the tools built into the provided trading platforms, the broker makes available a selection of useful standalone trading tools, such as AutoChartist, Economic Calendar, and Personal Account Managers, on their website.
Traders are provided with several learning resources aimed at improving their trading skills and knowledge. These resources include trading guides, glossaries, an FAQ section, press releases, a trading blog, and market news.
MogaFX offers over 60 financial markets across different asset classes: forex, commodities, indices, and CFDs.
MogaFX Accounts & Fees
The following trading account options are available at MogaFX: Standard ($1,000), VIP ($10,000), and ECN ($50,000) Accounts. Each of the accounts offers low spreads starting from 0.0 pips and leverage of up 1:500. The minimum trade size is 0.01 lots. A demo account is available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this MogaFX review. It is imperative to ensure that you check and understand all of the latest information before you open a MogaFX broker account for online trading.
The broker 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 telephone, email, and Live Chat.
MogaFX Deposit & Withdrawal
Bank transfer and credit/debit cards are accepted at MogaFX for both account deposit and withdrawal purposes.
MogaFX Account Opening
To open a real account, click on the ‘Open Acount’ button on the home page of the broker’s website. After completing the online registration, you may be required to submit your KYC documents.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
MogaFX is an Australian broker that offers multi-asset trading with competitive trading conditions as well as 24-hour support. The broker aims to meet all client’s needs by delivering a trading environment based on transparency, reliance, and quality. Trades are executed on the MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. The broker is regulated by ASIC and SVGFSA.
Trading Foreign Exchange Currency Pair) and/or Contracts for Difference (CFDs) on margin carries a high level of risk to your capital. These derivatives may not be suitable for all investors.