Magking Review: a Disrespectful Forex Trading Scam

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Magking Review
  • Fund Safety
  • Regulation
  • Customer Support


Magking claims that it offers low spread, fast order executions, and uses innovative technology to trade. Moreover, the firm also states it takes high-risk protection measures. Therefore, you will be safe. Unfortunately, this is a shady broker that does not care about investor’s needs.

Magking is a company that is not worth investors’ time the only thing this entity has is a beautiful website. The broker is also offering their clients gifts. They also do have discounts at almost all times. However, this is a method that scammers use to deceive investors into giving them funds.

The company states that it has an award for being the best education provider in the market. The information is provided free of charge to all investors in the market. They urge traders to utilize the opportunity to earn more returns.

Magking does not appear to be an investment entity. It is targeting innocent investors who lack adequate knowledge of the market. One thing that you need to understand is that there are multiple scammers in the market.

Magking Review, Magking Company

All of them have one thing in common which is to claim they are the best. However, these people only want to steal from you. The entity is more of an affiliate marketing website. The broker subjects investors to search for clients for them.

They promise a high affiliate bonus once you invite a new member. Both investors will receive $50. This is just a simple way of deceiving investors and getting their money. The moment there will be no funds coming into their system the entity will close down its operation. Review

The domain name of this platform is suspicious and you might think that this is a different company. Magking states that it offers low spread to their clients. They also have the best insight awaiting their customers.

The company has multiple trading platforms and claims that they offer unparalleled trading conditions. Despite this entity being an offshore entity, they claim to have fund safety for their clients. The entity is unfortunately not licensed by any government in the world.

The only thing that Magking is talking about is the educational services that it offers to its clients. However, we do not know the quality of education to expect from this entity.  The platform is regularly holding competition and promotions to help their clients earn more money.

However, you will not find such quality with legit forex trading companies that are regulated. Invest with the top forex brokers that are licensed and have the best trading conditions in the market. You are protected against a negative balance in your account.  

Moreover, you have the guarantee that your money is safe with them. Scammers have no intention of helping investors earn genuine returns. Therefore, avoid suspicious entities that will leave you high and dry.

The Trading Conditions

Magking is a company that claims it offers free demo to its clients. They also assure their clients that it will provide simple follow tutorial and articles. They also hold local seminars and online lectures.

Considering that this broker is anonymous we wonder how they are able to hold local seminars. The company only presents information to investors that will lure them into joining the entity.  The reality is you are not going to have a better outcome if you decide to give this entity benefit of the doubt.

Magking Scam Review, Magking Features

Magking claims that it offers low spread, fast order executions, and uses innovative technology to trade. Moreover, the firm also states it takes high-risk protection measures. Therefore, you will be safe. Unfortunately, this is a shady broker that does not care about investor’s needs.

The platform offer traders detailed market analysis. They claim to be operating as per the law but the only thing that we see are red flags. The platform is trading on various products like crude oil, gold and other metals.

The entity has an MT4 trading interface for its clients. The entity has a spread of 0.2 pips for the EURUSD currency pair. The maximum leverage that you can expect from them is that of 1:888. This exposes you to high risks and it is a clear indicator that the platform is not reliable.

Magking Withdrawal and Deposits

Traders can deposit funds via Wire Transfers, Credit/Debit cards, and e-wallets. The minimum deposit that you can deposit in this entity is that of $5. The company is targeting all classes of investors.

If you want to test the water with this broker we recommend that you use a bank card since they are safe and you can issue a chargeback whenever you please. Magking is a shady entity that does not feature any information regarding withdrawal.

The main purpose that traders invest in is to be able to earn passive income. Therefore if a broker does not care to present info regarding the cash out it is probably because they have no intention of allowing you to withdraw.

Moreover, the trading conditions of Magking have been copy-pasted from Union Standard International. There is no way that the entity has an intention of generating income for their clients. It will only defraud you and leave you high and dry.

The company cannot be creative and provide the necessary information to their customers. They go ahead and steal information from another website. We do not know what else you need to affirm that this is not the best broker in the industry.

Magking Customer Support and Contact Details

Magking is a company that does not leave any traces behind. The location of this venture is not known. They are operating anonymously and the entity does not have an office address. There is no way that a legit broker would risk their PR in this manner.

The platform knows what they are doing. The dirty scheme additionally does not have a phone number that investors can use to contact them. You can only reach them via online chat or by sending an email. This is not a convenient method of communication.

Magking will not respond to your query it will carry on with its activity as nothing happened. Avoid this broker at all costs because there is nothing positive that will come out of them. They are only going to leave you high and dry with regrets.

Regulation Status

The company features false information claiming to be regulated by multiple financial watchdogs in the market. These include the ASIC, FCA, and Belize regulatory bodies. The company that is overseeing the operation of this entity is Magking Global Limited.

The corporate is allegedly based in Hong Kong. This is misleading and the broker is operating on its own accord. You will not be compensated once this entity decides to leave the market. Moreover, you will live in uncertainty because you do not know when this will happen.

Final Verdict

Magking claims that investors do not need to have experience for them to participate in trading activities. The entity state that it avail multiple trading strategies to investors’. Once the market moves in a favourable pattern them investors will earn.

The broker guarantees that you will have full access to your account. The platform does not have a customer support team. Therefore, your problem will never be handled on time. They are also not regulated and present false information to attract more clients.

Invest with legit forex trading companies that are genuine and reliable. You will earn funds at a reasonable timeline. However, you should not join these entities with the mindset of becoming rich overnight. You need to be patient if you want to make a passive income.

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