Magnify Group (magnifygroup.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: m.magnifygroup.online.
After for the past year and a half with Magnify Group (magnifygroup.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Risk management tools|Multi-device support|Instant funding|Tax reports included
Cons: Desktop app not available on Linux|No phone support on weekends
The mobile app from Magnify Group (magnifygroup.com) is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Professional team|Dividend tracking|Fast deposits
Cons: Inactivity fee applies after 12 months
KYC with Magnify Group (magnifygroup.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Full transparency|Educational resources|Demo account available
Cons: Mobile app could be improved|Charting tools need more indicators
Magnify Group (magnifygroup.com) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Comprehensive tools|Dividend tracking|Market news feed|Two-factor authentication
Cons: Would like more payment methods|Limited cryptocurrency options
I joined Magnify Group (magnifygroup.com) after comparing multiple platforms and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Competitive fees|Copy trading available|Helpful community forum|Real-time alerts
Cons: Nothing significant
I found Magnify Group (magnifygroup.com) after a trusted YouTuber reviewed them and the initial impression was positive. But since I opened my account last year later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Real-time alerts|Fast support response
Cons: Search feature is basic
The hidden fees at Magnify Group (magnifygroup.com) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Social trading features|Stable platform
Cons: No integrated tax optimization|Nothing significant
What really bothers me about Magnify Group (magnifygroup.com) is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through my accountant's suggestion and I fell for the polished exterior. Never again.
Pros: Great customer service|Clear documentation|Tax reports included
Cons: Spreads widen during volatile periods
I signed up with Magnify Group (magnifygroup.com) after a friend recommended them and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Multiple order types|Clear documentation|Risk management tools|Reliable uptime
Cons: Inactivity fee applies after 12 months|No fractional shares