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As an experienced trader, when I evaluated MGM, several key factors stood out to me, both positive and negative. On the plus side, MGM has a notable history of providing equity brokerage, shares custodian services, corporate finance, and online share trading since 2003. They also offer a choice of trading platforms, including desktop and web-based solutions, which can be convenient for both retail and professional clients looking for different access options. This variety in services and platform flexibility initially struck me as positives for someone seeking broad access to the equities market in Pakistan. However, for me, the disadvantages are far more significant and concerning. MGM operates without any formal regulation from recognized authorities, either in Pakistan or internationally. From my perspective, this lack of regulatory oversight raises substantial risks regarding fund safety, dispute resolution, and general operational transparency. Even after several years in operation, the absence of a demo account or clear, easily accessible information about fees is a red flag; as a trader, I always look for transparency before committing funds. The broker’s business scope is also described as “suspicious” on multiple counts, and the risk ratings are exceedingly low. Because I prioritize security and regulatory backing above all else, I consider the lack of licensing and oversight a dealbreaker, regardless of the service variety offered. For anyone considering MGM, these are serious drawbacks that should be weighed very carefully against any potential benefits. I would exercise the utmost caution before proceeding.