MGS Finance Spreads, leverage, minimum deposit Revealed

MGS Finance Information

　　MGS Finance is an online brokerage firm that operates without regulation. They claim to provide access to a wide range of financial instruments across various markets, including Forex, Cryptocurrency, Stocks & Indices, and Commodities via the MT5 platform.

Pros & Cons

Pros

• Commitment to Offer Tight Spreads and Charge No Fees: One major advantage of MGS Finance is the offering of tight spreads and the absence of transaction fees, it can lead to cost-effective trading for clients.
• Demo account Available: MGS Finance provides a demo account option, allowing traders to test the platform and its features without financial risk. This can be beneficial for new traders or those looking to familiarize themselves with the platform before committing to a live account.

Cons

• Limited information on accounts: One downside of MGS Finance is the limited information available regarding its accounts.
• Unregulated: MGS Finance is not regulated, which increases risks for clients as the company doesn't have to adhere to any established financial standards nor offer protections typically required by financial regulators.

Is MGS Finance Legit？

• Regulatory Sight: MGS Finance is currently not regulated by any recognized financial authority. Traders should exercise caution and conduct thorough research before engaging with MGS Finance.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
• Security Measures: MGS Finance enacts top-notch security controls, including SSL encryption to safeguard traders' account and private information.

Market Instruments

　　MGS Finance provides a diverse range of investment opportunities with over 130 instruments available across multiple markets.

　　Firstly, Forex, or foreign exchange, allows traders to speculate on the fluctuation of exchange rates between different currencies. This market operates around the clock and is the largest financial market globally.

　　Secondly, Cryptocurrencies are digital assets designed to work as a medium of exchange that use cryptography to secure transactions, control the creation of additional units, and verify the transfer of assets. Investors can trade popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin on our platform.

　　Thirdly, Stocks & Indices represent ownership in a company or a group of companies, depending on whether you trade individual stocks or stock indices. This allows investors to benefit from the performance of these companies through price appreciation and dividends.

　　Finally, Commodities include physical goods such as gold, silver, oil, or agricultural products that are traded on exchanges. Investors can diversify their portfolios and hedge against inflation by trading in the commodities market.

Accounts

　　MGS Finance does not offer extensive information regarding its account types but does commit to providing a demo account option for potential clients. While the company's website may lack detailed account specifications, the availability of a demo account suggests a willingness to allow traders to experience the platform and its features before committing to a live account. This emphasis on providing a demo account indicates a focus on offering a risk-free opportunity for traders to familiarize themselves with the platform and its functionalities.

How to Open an Account？

　　To register for a MGS Finance account, please follow these steps:

　　(1) Visit the website.

　　(2) Click on the “Client Portal” button and choose to “Creat an Account”.

　　(3) Fill in the required fields, including:

　　Invitation Code: Enter the invitation code if you have one. (If not applicable, you can proceed without it.)

　　Username: Choose a unique username for your account.

　　Password: Create a strong password for your account's security.

　　Confirm Password: Re-enter the password to ensure accuracy.

　　Real Name: Provide your full legal name.

　　Country: Select your country of residence.

　　Phone Number: Enter your valid phone number.

　　(4) Review the terms of service and privacy policy, and if you agree, check the box.

　　(5) Click on the “Register” button to complete the registration process.

Trading Platform

　　MGS Finance offers the MetaTrader 5 (MT5) platform, available on Android, iOS, and Windows, providing a seamless trading experience across various financial markets. With an adaptable user interface and a dynamic trading environment, MT5 allows users to explore CFDs, stocks, and futures with ease. It offers 12 additional timeframe charts, a multi-threaded strategy tester for Expert Advisors (EAs), and 8 extra technical indicators for enhanced trading capabilities.

Trading Tools

　　MGS Finance provides trading tools including an economic calendar and a holiday calendar.

　　The economic calendar offered by the company presents a schedule of key economic events, such as indicators, reports, and announcements. Traders can utilize this tool to stay updated on upcoming events that may influence market volatility and make more strategic trading decisions.

　　Additionally, the holiday calendar offered by MGS Finance displays important dates when global financial markets are closed in observance of holidays. This information can help traders anticipate potential disruptions in trading activities and adjust their strategies accordingly.

Customer Support

• E-mail: cs@mgs-financial.com
• Contact Form
• Live Chat
• Physical address: Suite 701 Level 7, 77 Castlereagh Street, Sydney NSW 2000, Australia

Conclusion

　　In conclusion, MGS Finance offers some attractive features such as tight spreads, fee-free trading, and useful trading tools like demo accounts and economic calendars. However, the lack of detailed information on accounts and the absence of regulatory information raise concerns about transparency and customer protection. Potential clients should carefully consider these factors before engaging with the firm to ensure a well-informed and secure trading experience.

Frequently Asked Questions (FAQs)

　　Can I test the platform before trading with real money？

　　Yes, MGS Finance offers a demo account feature for traders to test the platform without financial risk.

　　What trading tools are provided by MGS Finance？

　　The firm offers trading tools such as an economic calendar and a holiday calendar to assist traders in making informed decisions.

　　Is there a minimum deposit requirement to open an account？

　　MGS Finance does not specify a minimum deposit requirement on its website.

　　Is MGS Finance a regulated broker？

　　No. MGS Finance has not been regulated by any authorities.

Risk Warning

　　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 provided in this review may be subject to change due to the constant updating of the company's services and policies.