Magna FX Review
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Review
Fast Facts
Contact Info and Support
Traffic information
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| Ratings | Global Rank | - |
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| Engagement metrics | Visits | 0 |
| Bounce Rate | 0 | |
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| Estimated monthly visits | July 2025 | 0 |
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| Top keywords | magna fx | 60 ◦ $50 |
About Magna FX
Magna FX operates under domain fx-magna.com (also known to use magna-fx.com) and claims to be based in the United Kingdom. It offers trading in forex, CFDs, and cryptocurrencies via multiple account types—including Basic, Silver, Gold, Platinum, and VIP—with leverage up to 1:100 for forex and up to 1:20 for crypto. Spreads reportedly range from 0.4 to 2.1 pips, with commissions between 1.5% and 5%, and it provides an economic calendar as an educational tool. Contact details include a phone number and email support@magna‑fx.net. ()
Regulatory bodies in multiple jurisdictions have issued warnings against Magna FX. The British Columbia Securities Commission warns that Magna FX is not registered to trade or advise on securities or derivatives in BC. () Additionally, the Ontario Securities Commission issued an investor warning on November 19, 2024, stating that Magna FX (operating at domains www.fx‑magna.com, www.fx‑magna.net, and www.magna‑fx.com) is not registered in Ontario to trade in securities. () Furthermore, the Autorité des marchés financiers (AMF) in Québec published a warning on February 27, 2024, highlighting that Magna FX is not registered and not authorized to solicit investors in Québec. ()
Despite claiming a UK location, no matching record exists in the UK Financial Conduct Authority’s registry. BrokersView labels the broker as unregulated and operating as a scam. ()
Pros and cons
Pros
- Offers a variety of account types across multiple asset classes (forex, CFDs, crypto)
- Low advertised spreads from 0.4 pips
- Provides educational tool (economic calendar)
Cons
- Completely unregulated; no valid licence from FCA or other authorities
- Regulatory warnings issued in BC, Ontario, and Québec citing unauthorised operations
- High commissions (1.5%–5%) and risky leverage
- Numerous user reports of withdrawal issues, unresponsive support, and potential scam tactics ()
