Global Broker Regulation Inquiry App
WikiFX
No Regulation
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/10
MGL Forex
Mongolia
|
5-10 years
|
Suspicious Regulatory License
|
White label MT4
|
Regional Brokers
|
High potential risk
https://www.mglforex.mn/
Website
Rating Index
MT4/5 Identification
MT4/5
White Label
MGLForexFinancial-Demo
United States
8
Influence
C
Influence index NO.1
Mongolia 3.15MT4/5 Identification
MT4/5 Identification
White Label
8
Server Name
MGLForexFinancial-Demo MT4
Server Location United States
United StatesInfluence
Influence
C
Influence index NO.1
Mongolia 3.15Surpassed 21.40% brokers
Biz Area
Search Statistics
Advertising
Social Media Index
Contact
+976 70177170
account@mglforex.mn
https://www.mglforex.mn/
Экспресс Таур 12 давхарт 1201 тоот
Licenses
No valid regulatory information, please be aware of the risk!
Warning: Low score, please stay away!
2025-10-29
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
Registered Region Mongolia
MongoliaOperating Period
5-10 years
Company Name
Mongolian Forex Broker
Customer Service Email Address
account@mglforex.mn
Contact Number
+97670177170
Company Website
Related Software
Biz Area
Website
Company Summary
News
Wiki Q&A
Comment
MT4/5
White Label MT4
2
MT4 Servers
0
MT5 Servers
265.50
Average execution speed/ms
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
Meta Trader 4
Perfect
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Official website
Website
mglforex.mn
198.54.115.179
Server Location
United StatesICP registration
--
Most visited countries/areas
--
Domain Effective Date
--
Website
--
Company
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Company Summary
| MGL Forex Review Summary | |
| Founded | 2016 |
| Registered Country/Region | Mongolia |
| Regulation | No regulation |
| Market Instruments | Forex, CFDs indices, oil, Uneth metals, cryptos, CFDs |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 0.1 pips |
| Trading Platform | MT4, MGL Forex mobile app |
| Minimum Deposit | $50 |
| Customer Support | 24/5 support, contact form |
| Tel: +976 70177170 | |
| Email: account@mglforex.mn | |
| Address: Express Taur 12 Davhart 1201 Toot | |
| Facebook, Twitter, YouTube | |
MGL Forex Information
MGL Forex is an unregulated broker, offering trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs with leverage up to 1:500 and spread from 0.1 pips on the MT4 and MGL Forex mobile app. The minimum deposit requirement is $50.
Pros and Cons
| Pros | Cons |
| Various trading products | No regulation |
| Demo accounts | Unclear fee structure |
| MT4 platform | Limited payment methods |
| Low minimum deposit |
Is MGL Forex Legit?
No. MGL Forex currently has no valid regulations. Please be aware of the risk!
What Can I Trade on MGL Forex?
MGL Forex offers trading on forex, CFDs indices, oil, Uneth metals, cryptos, and CFDs.
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs indices | ✔ |
| Oil | ✔ |
| Uneth Metals | ✔ |
| Cryptos | ✔ |
| CFDs | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Leverage
MGL Forex offers maximum leverage at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MGL Forex mobile app | ✔ | Mobile | / |
| MT4 | ✔ | Desktop, mobile, web | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
MGL Forex accepts payments via cash, bank transfer and cryptocurrencies. However, specific info like deposit and withdrawal processing time and associated fees is not revealed.
Keywords
- 5-10 years
- Suspicious Regulatory License
- White label MT4
- Regional Brokers
- High potential risk
Wiki Q&A
sweetosh 
1-2 years
How to open an account with MGL Forex?
To open an account with MGL Forex, click the "live account" button on the homepage, fill in the required information, agree to the Terms & Conditions, and confirm the submission to create your account.
Broker Issues
Leverage
Platform
Instruments
Account
07-31
United States
Arnold Joseph
1-2 years
What withdrawal methods does MGL Forex support?
The specific withdrawal methods are not provided in the available information. Given the lack of regulation, it’s advisable to exercise caution when withdrawing funds.
Broker Issues
Withdrawal
Deposit
07-30
United States
LoukiaCharilaou
1-2 years
What is the spread on MGL Forex?
The spread on MGL Forex varies depending on the account type. For the STANDARD Account, the spread starts from 1.5 pips, for the ECN Account from 0.6 pips, and for the PRO Account from 0.1 pips. The ISLAMIC Account also has a spread from 1.5 pips.
Broker Issues
Fees and Spreads
07-29
United States
LoukiaCharilaou
1-2 years
What trading platforms does MGL Forex provide?
MGL Forex provides MetaTrader 4 (MT4) as its main platform, along with dedicated applications for both Android and iOS, ensuring flexibility and convenience for traders across different devices and operating systems.
Broker Issues
Instruments
Leverage
Platform
Account
07-27
United States
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