MGK International Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-12 12:07

Abstract：MGK International, founded 5-10 years ago, is registered in France. The broker offers three account types, provides the MT4 trading platform, and supports six deposit methods, making it a versatile choice for traders. However, its regulatory status is suspicious clone.

MGK InternationalReview Summary
Founded	5-10 years
Registered Country/Region	France
Regulation	Regulated by LFSA (Suspicious Clone)
Demo Account	❌
Trading Platform	MT4
Customer Support	Email: info@mgk-global.com

MGK International Information

　　MGK International, founded 5-10 years ago, is registered in France. The broker offers three account types, provides the MT4 trading platform, and supports six deposit methods, making it a versatile choice for traders. However, its regulatory status is suspicious clone.

Pros and Cons

Pros	Cons
Offers three account types	Suspicious clone
Provides MT4 trading platform	Demo account unavailable
Offers six deposit methods	No information on available trading products

Is MGK International Legit ?

　　MGK International is regulated by the Labuan Financial Services Authority (LFSA) of Malaysia and holds license number MB/12/0003. However, its regulatory status is suspicious clone.

Account Type

　　MGK International offers three main account types: Normal Account, SPEED Account, and MAM/PAMM Accounts.

Features	Normal Account	SPEED Account	MAM & PAMM Accounts
Target Users	General traders and EA programmers	Veteran traders and fast execution needs	Fund managers and investors
Trading Method	Non-Dealing Desk (NDD)	Non-Dealing Desk (NDD)	Non-Dealing Desk (NDD)
Backtesting Function	Available on MT4 with historical data	Not specified	Not specified
Leverage Flexibility	Standard	Flexible, allows customized leverage options	Flexible, adjustable for sub-accounts
Trade Execution Speed	Regular execution	Super-fast, minimal delays	Depends on manager's settings and allocation method
Spread & Commission	Excellent rates and narrow spreads	Low spreads, fast execution	Cheaper commission and spreads
Performance Fees	Not applicable	Not applicable	Automatically deducted based on contract terms
Order Allocation	No allocation system	No allocation system	Allocated based on percentage or fixed lots
Account Flexibility	Standard trading flexibility	Fast execution with minimal server interference	More flexibility in risk allocation and trade sizing
Withdrawals	Client‘s discretion	Client’s discretion	Manager cannot withdraw; clients manage deposits and withdrawals
Additional Features	Supports 5 daily bars for accurate EA operation	Sophisticated algorithms for quick execution	Low operating costs due to investor-manager relationship

Trading Platform

　　MGK International supports MT4 but does not support MT5.

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Mobile and Desktop（Windows & macOS）	Beginner
MT5	❌	Mobile and Desktop（Windows & macOS）	Experienced Trader

Deposit and Withdrawal

　　MGK International offers six deposit methods, including bitwallet, wire transfer, BXONE, Bitcoin (BTC remittance), Ethereum (ETH remittance), and USDT (Tether remittance). The minimum withdrawal amount is US $50.00 (after transfer fees).

　　For bitwallet and BXONE, a dedicated account is required, with processing times of 24 hours and an unspecified timeframe, respectively. Wire transfers typically take 2-3 business days, while Bitcoin, Ethereum, and USDT deposits do not require a dedicated account and are reflected within 1-2 business days.