MogaFX Review
45
Review
Fast Facts
Account types
| STANDARD Account | VIP Account | ECN Account | RAW-SPREAD Account | |
|---|---|---|---|---|
| Minimum Deposit | 1'000 USD | 10'000 USD | 50'000 USD | 10'000 USD |
| Maximum Leverage | 1:500 | |||
| Spread from (pips) | ||||
| Commission per lot (USD) | 0 | 8 | 0 | |
| Minimum Trade Size | 0.01 | |||
| Step | ||||
| Execution Type | ||||
| Trading Instruments | CFDs, Commodities, Forex | |||
| Margin Call | ||||
| Stop out | ||||
| Swap Free | ||||
| Currency | USD | |||
Deposits / Withdrawals
- Deposit Methods: Bank Wire Transfer, Perfect Money, FasaPay, UnionPay, Crypto
- Withdrawal Methods: Bank Wire Transfer, Perfect Money, FasaPay, UnionPay, Crypto
- Account Currencies: USD
Contact Info and Support
Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
Traffic information
| Category | Metrics | Meaning |
|---|---|---|
| Ratings | Global Rank | 5346927 |
| Country Code | - | |
| Country Rank | - | |
| Category Rank | - | |
| Engagement metrics | Visits | 0 |
| Bounce Rate | 0 | |
| Pageviews per Visit | 0 | |
| Avg. Visit Duration | 0 | |
| Estimated monthly visits | July 2025 | 2552 |
| August 2025 | 0 | |
| September 2025 | 0 | |
| Traffic sources | Social | - |
| Paid Referrals | - | |
| - | ||
| Referrals | - | |
| Search | - | |
| Direct | - |
About MogaFX
MogaFX presents itself as holding a license from the Australian Securities and Investments Commission (ASIC) under the entity Moga International Group Pty Ltd, license number 501156 (). Simultaneously, it claims regulation by the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA), license number 532LLC2020; however, the SVG FSA does not issue forex broker licenses and does not supervise such entities (). The inconsistency between regulatory jurisdictions highlights a crucial conflict, with the ASIC license being verifiable and SVG FSA claims lacking legitimacy.
Account types include STANDARD, VIP, ECN, and RAW‑SPREAD accounts, all denominated in USD. Minimum deposit requirements range from USD 1,000 for STANDARD to USD 50,000 for ECN, with maximum leverage up to 1:500. STANDARD, VIP, and RAW‑SPREAD accounts have no commission; ECN carries a commission of USD 8. Trading is available via MetaTrader 4, MetaTrader 5, and WebTrader platforms. Features across all account types include support for EAs, hedging, scalping, and news-based trading (NBP) ().
Trading instruments across account types encompass CFDs, commodities, and forex/currency pairs. Islamic (swap‑free) accounts are not offered. Base currency is USD for all accounts. Details such as spreads, swap fees, stop‑out levels, NBP, and formal policies on hedging/scalping are provided via the broker’s site but are not independently confirmed ().
Pros and cons
Pros
- ASIC regulation under license number 501156 offers a verifiable regulatory framework ().
- Wide range of account types and features including automated trading (EAs), hedging, and scalping across MT4, MT5, and WebTrader platforms ().
Cons
- SVG FSA license claim (532LLC2020) is invalid and misleading, as SVG FSA does not regulate forex brokers ().
- High minimum deposit thresholds (up to USD 50,000) and high leverage (1:500) increase risk for retail traders ().
