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MGK Global Review



Finding a reputable MGK Global review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth review regarding MGK Global to help you make an informed decision before opening your account or trading on their platform.


MGK Global is a forex broker company in Labuan, Malaysia.

MGK GLOBAL is an a-book broker founded in 2015 and offers forex trading services via MetaTrader 4 and MT4 Mobile trading platforms. MGK GLOBAL offers trading of currencies and commodities but is only regulated by the FSA in Malaysia.

The company behind the brand is based in Labuan, a federal territory of Malaysia and a popular offshore financial centre. Being regulated by the Labuan Financial Services Authority (FSA), is not a guarantee of sound practices, but there are certain registration and annual fees applicable to Labuan companies – even though their physical presence in Labuan is not required.

Because offshore brokerages are not required to meet any capital adequacy requirements, to report positions, or to apply client protection rules, investing with such a company may be risky and generally not recommended.

MGK Global is a multi-asset platform that offers more than 167 tradable assets, including Forex trading and Share Dealing.



In the world of forex broker companies being honoured with awards from esteemed organisations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.

Although MGK Global is rated highly by some customers in personal reviews on review websites, there is no information available on the MGK Global homepage or elsewhere about any awards received by them.



A forex account is a trading account held by a trader with a company like MGK Global, that is issued with the primary purpose of trading through its platforms. Usually the number and type of accounts that a trader can open with a broker company differs according to the country in which the brokerage operates, the country of residence of the trader and the regulation authorities under whose jurisdiction it operates.

Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account and certain services or advantages that account holders may get access to.

In the case of Muslim customers, special Islamic accounts, that is swap free accounts, are offered that mirror the other account types, but which operate in accordance to Shariah law.



MGK Global offers two types of trading accounts – a commission-free Normal Account and a so-called Speed Account, which offers tighter spreads, NDD execution with EAs and involves commission.

Both accounts offer variable spreads, leverage levels up to 1:500 and the opportunity to trade in micro lots on the MetaTrader 4 platform.

MGK Global also offers account management (MAM and PAMM) services.

The broker’s trading conditions are typical of an offshore brokerage with a low minimum initial deposit required and high leverage levels offered. Its spreads look attractive, averaging 1 pip on EUR/USD, which is on the lower end of average for the forex market.

MGK Global does offer a demo account but further information on its website is rather scarce, and large parts of the English version’s content is not translated.

Features of the accounts include:

Normal Account:

The website does not give a lot of information; however it indicates the use of a reliable trading platform for forex.

The minimum deposit to open the Normal Account is $30, minimum trade size 001 and maximum leverage is 1:500. Spreads are 1.0 pip on average.

Features of the normal account can be summarised as follows:

  • Widely well-known ideal and reliable trading platform for forex
  • High standards of security
  • Easy-to-use for beginners and professionals alike
  • Unlimited and powerful charts enable traders to analyse the trend

Speed Account (NDD):

Just like the normal account, there is not a lot of information on the Speed Account on the website either, however, the following features can be expected:

Features of SPEED account

  • No re-presentation of price
  • No order limits the width to limit / reverse limit
  • Also supports automated trading tool
  • Fee of $ 7 one way $ 3.5 round trip will take
  • Trade environment the best stable

This account requires no minimum deposit, minimum trade size 001 and maximum leverage is 1:500. Spreads and commissions are from 0.1 pips plus $7/lot.

Demo accounts

Practice accounts are available and can be created for either a Normal account or a Speed account, but the speed account must be in JPY.

You can select a balance between 1 000 and 5 000 000 of the base currency and leverage of 1:100 is automatically set.



MGK Global offers its clients only two payment methods – bank wire transfer and AsianPay with domestic remittance service. For AsianPay, there is a $30 remittance charge and for Bank Wire Transfer there is a $50 remittance charge.

The minimum deposit which is required by the Normal account is $30 and there is no minimum requirement for the Speed account.

Traders can withdraw money using the same methods that they used to deposit and must be withdrawn to the same account they used to deposit.

You can transfer a minimum of $50 per transaction and there is a fee for withdrawals.

MGK Global also states that you will need to pay your own bank fees so be sure to check with your bank if they will charge any.

Withdrawal Processing & Wait Time

This information is not stated on the MGK Global website exactly how withdrawals must be made, but since Bank Wire Transfer is one of the only methods available, one could expect withdrawals to take a minimum of 2 to 5 business days to become available in your bank account.



Cost of trading depends on different factors like commissions, spread and margins.

The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, who do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

While contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, its trading on shares will incur commission. CFD trades on other markets has no commission but do wrap a spread around the market price of a certain instrument.

MGK Global charges deposit fees, varied withdrawal fees according to the payment method and does charge a fee for inactive accounts.

The Normal account uses a spread based system and the Speed account has an added commission of $3.5 per execution, meaning $7 per round lot traded: $3.5 when opening a trade and also $3.5 when closing the trade.

Swap charges are also charged, as is a charge for holding a trade overnight.

Spreads on the Normal account seem to start from around 1 pip, on the Speed account they can be as low as 0.01 pips. These spreads are variable which means they move with the markets. When the markets are volatile the spreads will often widen and be higher.

Different assets also have different spreads, so while EURUSD may start at 1 pip, other instruments such as AUDNZD may start at a higher pip.



Leveraged product trading magnifies a trader’s potential profit – but of course also increase the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

The amount of leverage is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 100 000 USD/JPY, that leverage will equate 100:1.

Traders should always keep in mind that, although a high leverage offered may be a plus point for the brokerage, but trading at such a high leverage should only be attempted by experienced traders that know how to prevent big losses.

MGK Global allows its traders to use a maximum leverage ratio of 1:500, which can be selected when opening an account.

It is available for both account types. If you wish to change the leverage once an account is already open, you need to contact the customer service team.



Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

According to the company website and other sources MGK Global does not offer a No Deposit Bonus       but does offer a Welcome Bonus and on occasion other bonuses. More information on what any of these bonuses entails, is hard to find, however.



The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

Some companies provide an own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested through time. If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best.

MGK Global offers only MetaTrader 4 (MT4), but it is the most popular and reliable FX trading platform worldwide. It is equipped with sufficient technical analysis indicators, extensive back-testing environment, an advanced charting package and a wide range of Expert Advisors (EA), which allow clients to automate their trades.



Most brokers offer all or some of the following market instruments for trading:


Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates.


As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.


Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes which measures the value of a specific section of a stock market.

Precious metals:

This involves the trading of gold, silver and other precious metals as hard commodities that are contract-based tradable.


The high volatility of energy prices due to political, environmental and several other factors, is a typical feature of this product, making it a popular trading choice.


Tradable cryptocurrencies include the following:

Bitcoin (BTC) is the digital currency with the largest market capitalisation and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

MGK GLOBAL offers trading of currencies and commodities and boasts about more than 167 tradable assets, including Forex trading and Share Dealing.




Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like MGK Global is safe and secure to trade with. One of the most reliable benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watching and overseeing its actions and whether the company complies with those regulations.

In general, a so-called “offshore” broker tends to have a less favourable reputation and potential traders should think carefully before investing with them.

Secondly, the safety or clients’ funds should be guaranteed and in the case of the company defaulting or going bankrupts, a safety net of some sorts would come in handy to prevent customers of taking more losses.

MGK Global is approved by the Financial Services Authority of Labuan, Malaysia, with registration number and reference LL08755 and MB / 12/0003.

The broker promises to operate professionally and fair and provide service of the highest quality to customers in accordance with FSA rules and regulations.

Any payments funded to MGK Global accounts by traders are held in a segregated bank account and MGK Global use tier-1 banks for this.



Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted, may also play a role when choosing a broker.

The customer support team of MGK Global can be reached from Monday to Friday between 09:00 and 18:00. MGK Global support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Hindi, Hebrew, Arabic and Russian

MGK Global does not offer LiveChat Support but the contact page offers a few other ways to get in touch, like an online form where you can submit your query to get a reply via email, an email address and physical address should you wish to get in contact that way.



Before starting to trade, potential MGK Global clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If MGK Global ’s website itself does not provide enough means, a trader should explore other informative sources to obtain that skills and knowledge.

MGK Global offers a simple glossary giving the definitions of forex based terms, but apart from this, a trader will need to go elsewhere for educational needs.



Potential traders need to be enabled to do as much as possible research about speculative trading before commencing to do it and while trading with a specific brokerage. Trading successfully relies heavily on knowledge and understanding of the markets and the platforms offered by a broker, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

MGK Global does not offers research options other than via the trading platform itself.



MGK Global is an offshore MT4 forex broker with attractive offerings, but its demo account is often not functional to test its services.  The main disadvantage of this broker is that it is not regulated by reputable authorities and doing business with it can be risky.

MGK Global offers Advanced Financial Chart comparison tools and its easy to use platform is available for use on multiple devices.

MGK Global users benefit from using the MGK Global platform in more than 15 different languages.

They can enjoy competitive spreads but otherwise there is no option to trade CFDs on indices and shares, no choice of trading platforms and very limited payment methods.



MGK Global warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by MGK Global, they are advised to contemplate their investment objectives, financial situation, needs and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use MGK Global ’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While MGK Global promises to make all efforts to fill a trade at the requested price, trading on-line does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor.



Broker’s name MGK Global
Headquarters Labuan, Malaysia
Year founded 2015
Regulating authorities Financial Services Authority of Labuan, Malaysia
Countries not accepted for trade No specific countries listed.
Demo account Yes
Islamic account (swap free) Yes
Institutional accounts No
Managed accounts Yes
Maximum leverage 1:500
Minimum deposit $30
Deposit options Bank wire transfer and AsianPay
Withdrawal options Bank wire transfer and AsianPay
Platform(s) provided MT4
OS compatibility Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
Tradable assets offered Currencies and commodities
Customer support languages English, Italian, Russian, French, Spanish, Arabic and More
Customer service hours Monday to Friday between 09:00 and 18:00.






How many instruments can I trade with MGK GLOBAL?

You can trade the following financial instruments:

  • Currencies
  • Commodities


Which platforms are supported by MGK GLOBAL?



Does MGK GLOBAL offer leverage?

Yes, to a maximum of 1:500


What spreads can I expect with MGK GLOBAL?

You can expect spreads from 1 Pip.


Does MGK GLOBAL charge commission?

Yes MGK Global does charge commission on CFD instruments.


Is MGK GLOBAL regulated?

MGK GLOBAL is only regulated by the Malaysian FSA.


Is MGK GLOBAL a recommended forex trading broker for experts and beginners?

MGK GLOBAL caters for both beginners and experts.


What is the overall rating out of 10 for MGK GLOBAL?





What is the difference between a demo and live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.


Does MGK GLOBAL offer a demo account?



For how long is the demo account valid?

Not indicated.


Which live trading accounts does MGK GLOBAL offer?

Normal Account and Speed Account.


What are the available deposit currencies for a live trading account?

USD, EUR and more




What is the minimum deposit for MGK GLOBAL?

$ 30


How do I make a deposit and withdrawal with MGK GLOBAL?

Bank wire transfer and AsianPay


Does MGK GLOBAL charge withdrawal fees?

MGK Global withdrawal fees vary depending on your selected withdrawal payment method.


This will depend on the payment method used. It can take 2 to 5 days to reflect in your account.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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