MogaFX Review

MogaFX Review

MogaFX is a contemporary online trading broker that was recently launched in 2020 with offices in Australia and Saint Vincent and the Grenadines. The broker offers access to trade forex, indices, and commodities using the MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. Their clients benefit from various competitive trading conditions, including negative balance protection, leverage of up to 1:500, multiple account types, tight spreads, fast trade execution speeds, and more. The minimum deposit required to begin trading is $1,000.

MogaFX Review Introduction

In this MogaFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.

You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers, including MogaFX.

MogaFX Platforms & Tools

The broker’s clients can buy and sell the various available financial assets using the popular MT4 and MT5 trading platforms. These are advanced trading platforms that MetaQuotes, a Russian software company, developed. They are replete with advanced trading tools and extended trading capabilities; little wonder they are the choicest trading platforms in the industry. Nevertheless, beginners and experienced traders will find them helpful owing to their easy-to-use interfaces and complex trading functionalities. The MT4 and MT5 trading platforms are available in desktop, web, and mobile versions.

MogaFX Review Trading Platforms
MogaFX Review Trading Platforms

The broker provides traders with some standalone trading tools to make up for those that are lacking in the available trading platforms. These useful trading tools include AutoChartist, Personal Account Managers, and an Economic Calendar that shows the schedule of future market events and their expected impacts on the financial markets.

MogaFX Research & Education

The broker’s website contains a good selection of educational resources — trading guides, glossaries, an FAQ section, press releases, a trading blog, and market news — to help traders make informed trading decisions.

MogaFX Review Blog
MogaFX Review Blog

MogaFX Trading Accounts

MogaFX offers various live trading account options. The account types and their corresponding minimum deposit requirements are as follows: Standard ($1,000), VIP ($10,000), and ECN ($50,000) accounts. In addition, there is a demo account option to help traders to familiarize themselves with the broker’s platform before opening a live trading account.

MogaFX Review Account Types
MogaFX Review Account Types

MogaFX Account Funding

At MogaFX, all account deposit and withdrawal requests are processed using bank transfers and credit/debit cards.

Forex Robotron Banner
Forex Robotron Banner

MogaFX Customer Service

The broker’s clients can send all their trading inquires to a responsive client support team who are available 24/7 and can be contacted via telephone, email, and Live Chat.

MogaFX Regulation

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).

MogaFX Review Summary

Overall, MogaFX is an online trading broker that provides traders with unhindered access to the global financial markets. They provide traders with the MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. There are various learning resources and valuable trading tools to assist traders. The minimum deposit required to start trading is $1,000. ASIC and SVGFSA regulate the broker.

It is worth mentioning that some of the trading products and services in this MogaFX review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the MogaFX broker website, which you can visit by using the link below.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MogaFX

7.6

Spreads

7.5/10

Liquidity

7.5/10

Commissions

7.5/10

Support

7.5/10

Regulation

8.0/10

Features

  • Advanced trading platforms
  • Educational materials
  • AutoChartist and other helpful trading tools