MGLuxembourg

I am in a dispute with MGLuxembourg over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.

My withdrawal request from MGLuxembourg has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.

My card was charged twice by MGLuxembourg on the same day. I had to dispute it with my bank. MGLuxembourg then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.

I want to warn everyone about MGLuxembourg. They have been flagged by Commission de Surveillance du Secteur Financier as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.

I had a dispute with MGLuxembourg and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.

After doing some research AFTER the fact (I know, I should have done this first), I discovered that MGLuxembourg is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.

For anyone considering MGLuxembourg, please be aware that this company has been flagged by Commission de Surveillance du Secteur Financier. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.

After for nearly two years with MGLuxembourg 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.

After spending since mid-2025 trying to make MGLuxembourg work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.

Customer support at MGLuxembourg seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.