MGL FOREX Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-07-29 15:30

Abstract：MGL Forex is an unregulated broker, offering trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs with leverage up to 1:500 and spread from 0.1 pips on the MT4 and MGL Forex mobile app. The minimum deposit requirement is $50.

MGL Forex Review Summary
Founded	2016
Registered Country/Region	Mongolia
Regulation	No regulation
Market Instruments	Forex, CFDs indices, oil, Uneth metals, cryptos, CFDs
Demo Account	✅
Leverage	Up to 1:500
Spread	From 0.1 pips
Trading Platform	MT4, MGL Forex mobile app
Minimum Deposit	$50
Customer Support	24/5 support, contact form
	Tel: +976 70177170
	Email: account@mglforex.mn
	Address: Express Taur 12 Davhart 1201 Toot
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MGL Forex Information

　　MGL Forex is an unregulated broker, offering trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs with leverage up to 1:500 and spread from 0.1 pips on the MT4 and MGL Forex mobile app. The minimum deposit requirement is $50.

Pros and Cons

Pros	Cons
Various trading products	No regulation
Demo accounts	Unclear fee structure
MT4 platform	Limited payment methods
Low minimum deposit

Is MGL Forex Legit?

　　No. MGL Forex currently has no valid regulations. Please be aware of the risk!

What Can I Trade on MGL Forex?

　　MGL Forex offers trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs.

Tradable Instruments	Supported
Forex	✔
CFDs indices	✔
Oil	✔
Uneth Metals	✔
Cryptos	✔
CFDs	✔
Bonds	❌
Options	❌
ETFs	❌

Leverage

　　MGL Forex offers maximum leverage at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MGL Forex mobile app	✔	Mobile	/
MT4	✔	Desktop, mobile, web	Beginners
MT5	❌	/	Experienced traders

Deposit and Withdrawal

　　MGL Forex accepts payments via cash, bank transfer and cryptocurrencies. However, specific info like deposit and withdrawal processing time and associated fees is not revealed.