MGLuxembourg has been flagged by Commission de Surveillance du Secteur Financier for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I referred a friend to MGLuxembourg when my bank disappointed me and I searched for alternatives. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Excellent charting|Professional team
Cons: Account statements could be more detailed|Help articles are sometimes vague
After seeing ads for MGLuxembourg online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Commission de Surveillance du Secteur Financier. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
I closed a profitable position at MGLuxembourg and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Responsive team|Clean UI|Easy withdrawals|Clear documentation
Cons: Limited ETF selection|Minor UI glitches occasionally