Spam Notice. To secure your privacy FPA mailing list is maintained and
all emails to FPA members are sent through AWeber Communications, Inc. with world stringent Zero Spam Tolerance
policy. One click unsubscribe option is included in every email.
I do not have any experience with this broker. If you used them, please submit your review below.
keenriches, Florida
Rating:
Date of Post:
2008-12-25
Review:
After the Refco fiasco out of which I escaped just in time ! I opened a new account with MG Forex and for starters got terrific service from a russian guy who used to be on their staff, but he suddenly "mysteriously" disappeared and NOBODY at MG Forex would give me even a smidgen of information as to WHERE he went !!!!! This guy took "Customer Service" seriously and was first class. I continued trading with MG Forex, had far more losses then gains for some reason ? and as one other poster wrote: the software is so outdated, a "Lame duck" and IMO too complicated and slow to use. Things steadily went downhill with MG Forex from there and each time I emailed them for something, another person's name was on the signature part of the email, iow, turnover, turnover, turnover !
I let the account sit (with a very very small balance) for over a year and finally recently closed it while back in early 2006, I went yet with another broker with more updated software and am now just getting back to trading.
NJ, USA
Rating:
Date of Post:
2008-10-02
Review:
I put money into their managed accounts. I do not have any experience with their platform. In terms of their managed account I think they have a good strategy for the conservative fund. It will give you steady returns esp while the equity markets are performing so poorly. They had good customer service and also did their admin help was really good. I would def reccomend their managed funds. Be careful though because they have an agressive fund too where more risks are taken.
nezinomas, Europa
Rating:
Date of Post:
2008-08-26
Review:
This firm is good until you are loosing money. Just start working profitable and you'll see their true face. These brokers are truly scams.
Patel, Michigan
Rating:
Date of Post:
2007-10-26
Review:
SCAM Artists. After your profits & account balance. They Liquidate trades for no reasons. Terrible rollover charges have seen upto 63%.
Sean, Hoboken , NJ
Rating:
Date of Post:
2007-10-09
Review:
I chose to trade with MG due to their honesty from the day I opened a demo account. They did not pressure into opening an account, and suggested things to limit my exposure. They walk me through the platform with great patience. I could be very painful. Not long after, I decided to open a real account. Their customer service is top notch, and the platform is user friendly. So far, no complaints
Isaac Iselobhor, Nigeria
Rating:
Date of Post:
2007-09-27
Review:
Before I opened live trading account with Mgforex,they appeared to be the best forex broker around.Immediately I deposited $5,000 into the account,they started manipulating the platform to dubiously take the entire money.Their greatest trick is to close out your profitable position,or refuse to allow you take profit until the market works against you.They are BUCKETSHOP forex rogues.Do not judge with demo account,you will be mislead also.All the emails sent to them were not replied to.If you use a mini account,you will never get what I mean.So,beware.
Pavalan, Singapore
Rating:
Date of Post:
2007-08-02
Review:
I'm still very new to trading forex online. MG's the only broker that I've done some live trading with. Overall I have no complaints really, but like I've said I've never been with any other broker. Orders were fast at the click of the mouse. Had no problems with withdrawals. The charting is ok, got pretty comfortable with it. I've only been trading minis so far so for beginners it's been good...
snoozy, switzerland
Rating:
Date of Post:
2007-07-23
Review:
Been with MG forex since 1998. Stable plattform, exact stops, I think this firm is well practised in surviving and doing well in any economic enviroment. Their basic plattform keeps you away from distractions like broker chat and broker sales and java stations works well for gprs or umts mobile, Like their free charts. Have had requotes but only at news times.
they have a high leverage factor you can save money on their charts they have an info page:forexnews.com
bad: no segregated accounts
requotes have become more frequent
have no experience what they do
if you make big money with them
Roger Wachtman, Toronto, Canada
Rating:
Date of Post:
2007-06-28
Review:
They used to be a quality outfit, but ever since new management has taken over it's been straight downhill. The technology is really outdated and hasn't even had any kind of upgrade in ages. It is hard to believe that some people actually pay a monthly fee to use those mickey mouse charts they pedal. Last year management tried to save money by not having any live updating of their MMS analysis service for ages. That kind of thing doesn't instill much confidence as to their financial viability. After that happened I started having doubts about how long they'd last, so I pulled out enough to cover my initial deposit and just left what I had made so I would be playing with house money anyway if things went sour for them. Needless to say they weren't pleased and tried to railroad me in a number of ways. The bottom line with these people is this: if you don't like brushing your teeth with counterfeit toothpaste, or feeding your dog tainted pet food, or driving on hazardous cheapo tires, stay away because this bucket shop is of the same ilk.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Disclaimer All information posted on this website is of our opinion and the opinion of our visitors, and may not
reflect the truth. Please use your own good judgment and seek advice from a qualified consultant, before believing
and accepting any information posted on this website. We also reserve the right to remove, edit, move or close
any post for any reason.
Spam Notice. To secure your privacy FPA mailing list is maintained and all emails to FPA members are sent through AWeber Communications, Inc. with world stringent Zero Spam Tolerance policy. One click unsubscribe option is included in every email.