Home -
MOGAFX -

Score

1.87 /10
Danger

MOGAFX

Australia

Scam Brokers

5-10 years

Suspicious Regulatory License

cTrader

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://www.mogaforex.com/

Add brokers

Comparison

Quantity 149

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.97

Risk Management Index0.00

Software Index6.45

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

Moga International Group LLC

Company Abbreviation

MOGAFX

Platform registered country and region

Australia

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 5
Previous Detection : 2025-04-30
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

Exposure

149 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

I withdraw many times still not doing anything

unable withdraw a few month almost 1 years

FX8948351642
2024-03-27 00:16
Unable to Withdraw

This company has been gone for a year.

All sales have left and funds cannot be withdrawn.

Bitter sweet and sour
2024-06-19 00:53
Unable to Withdraw

The platform's score should be reduced to 2 and turns to a fraud platform.

It’s been 4 months and I can’t withdraw money. Don’t let more people be deceived.

GONGZUOKUANG
2024-04-22 23:02
Unable to Withdraw

Unable to withdraw

From December 21, 2023, my 27,000 USD can't be withdrawn. It's a scam company by the Taiwanese! The so-called regulation is all lies, please be careful.

FX1029994336
2024-04-10 06:36
MOGAFX · Company summary

Note: MOGAFX's official website: https://www.mogaforex.com/?culture=en-US is currently inaccessible normally.

MOGAFX Review Summary
Founded2020
Registered Country/RegionAustralia
RegulationSuspicious Clone
Market InstrumentsForex, commodities, indices
Demo AccountYes
LeverageUp to 1:500
SpreadFrom 0 pips
Trading PlatformMT4, MT5, cTrader
Min Deposit$1,000
Customer Support+61 291890220
service@mogafxglobal.com, service@mogafx.com

MOGAFX Information

MogaFX is a multi-asset broker, offering its clients access to many trading assets, including forex, indices, and commodities. MOGAFX offers six account types with different minimum deposit requirements and flexible leverage options up to 1:500 through MT4, MT5, and cTrader. However, it requires a high minimum deposit of 1,000 USD.

Pros and Cons

ProsCons
  • Supports MT4, MT5, and cTrader
  • Suspicious Clone
  • Offers six account types
  • A high minimum deposit of 1,000 USD
  • High leverage up to 1:500

Is MOGAFX Legit?

MOGAFX has a Straight Through Processing(STP) regulated by the Australian Securities and Investments Commission (ASIC) in Australia with a license number of 501156, and it is a Financial Service Corporate regulated by the Financial Service Providers Register (FSPR) in New Zealand with a license number of 1002414. However, both licenses are Suspicious Clone.

Regulatory StatusSuspicious Clone
Regulated byStraight Through Processing(STP)
Licensed InstitutionSPECTRE FINANCIAL GROUP AUSTRALIA PTY LTD
Licensed TypeStraight Through Processing(STP)
Licensed Number501156
Regulatory StatusSuspicious Clone
Regulated byThe Financial Service Providers Register (FSPR)
Licensed InstitutionMOGA INTERNATIONAL GROUP LIMITED
Licensed TypeFinancial Service Corporate
Licensed Number1002414
Is MOGAFX Legit?
Is MOGAFX Legit?

What Can I Trade on MOGAFX?

MOGAFX offers many trading assets such as Forex Currencies, Indices, and Commodities.

Tradable InstrumentsSupported
Forex✔
Commodities✔
Indices✔
Cryptocurrency❌
Shares❌
Metals❌

Account Type

MOGAFX provides a demo account with a 30-day risk-free trading period and $100,000 virtual capital. MOGAFX also offers six live account types including Standard, VIP, ECN, Raw-spread, M1, and Swap-free accounts. Each account has different minimum deposit requirements, $1000, $10,000, $50,000, $10,000, $10,000, and $5,000 respectively. You can refer to the table for details.

Account TypeMinimum depositSpreads fromMinimum lot sizeLeverage
Standard1,000 USD2.5 pips0.011:100, 1:200, 1:400, 1:500
VIP10,000 USD1.5 pips0.011:100, 1:200, 1:400, 1:500
ECN with low spread50,000 USD0 pips0.011:100, 1:200, 1:400, 1:500
RAW-SPREAD10,000 USD0 pips0.011:100, 1:200, 1:400, 1:500
M110,000 USD1.5 pips0.011:100, 1:200, 1:400, 1:500
SWAP-FREE5,000 USD2.8 pips0.011:100

MOGAFX Fees

Spreads differ from various trading accounts. The spread starts from 2.5 pips on the Standard account, from 1.5 pips on the VIP and M1 accounts, from 0 pips on the ECN and Raw-spread accounts, and from 2.8 pips on the Swap-free account. There is no commission charged on any of the accounts.

Trading Platform

Trading PlatformSupportedAvailable DevicesSuitable for
MetaTrader 4 (MT4)✔PC and MobileInvestors of all experience levels
MetaTrader 5 (MT5)✔PC and MobileInvestors of all experience levels
cTrader✔PC and MobileInvestors of all experience levels

Deposit and Withdrawal

MOGAFX requires a minimum deposit of 1,000 USD for the Standard account.

News

ExposureMarch Recap: Most Complained Brokers in Malaysia

In this article, WikiFX will reveal the top 3 brokers that have received the most complaints in Malaysia within March 2024! Beware users!

WikiFX
2024-04-02 16:43
March Recap: Most Complained Brokers in Malaysia

NewsWikiFX Reviews MogaFX in Depth

In this article, we'll examine MogaFX's key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service.

WikiFX
2023-09-22 16:37
WikiFX Reviews MogaFX in Depth

NewsMOGA Winter Cashback Giveaway, Double Profits with Double Promotions

MOGA is launching a series of bonuses to invite all traders to join and have fun.

WikiFX
2022-10-13 08:56
MOGA Winter Cashback Giveaway, Double Profits with Double Promotions
About More

User Reviews

More

User comment

11

Comments

Write a review

幸运&
more than one year
Espero que más personas puedan ver mi reseña y mantenerse alejados de este estafador. mogafx no tiene ninguna supervisión confiable, y todo lo que dice en su sitio web es mentira. Abrí una cuenta estándar en su sitio web e invertí 1000 dólares estadounidenses, y ahora no puedo sacar el capital y los intereses.
Espero que más personas puedan ver mi reseña y mantenerse alejados de este estafador. mogafx no tiene ninguna supervisión confiable, y todo lo que dice en su sitio web es mentira. Abrí una cuenta estándar en su sitio web e invertí 1000 dólares estadounidenses, y ahora no puedo sacar el capital y los intereses.
Translate to English
2022-11-24 14:23
Reply
0
0
Venki
more than one year
MOGAFX is cool in that they give you options for how much leverage you want, which is good because it depends on how much risk you're willing to take. They also have a bunch of different things to trade, like currencies, commodities, and maybe even crypto.
MOGAFX is cool in that they give you options for how much leverage you want, which is good because it depends on how much risk you're willing to take. They also have a bunch of different things to trade, like currencies, commodities, and maybe even crypto.
Translate to English
2024-07-18 17:57
Reply
0
0
99+