MGM Global has been flagged by Central Bank of Ireland 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.
KYC with MGM Global 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: Dedicated account manager|Copy trading available|Good mobile app
Cons: Alert system is basic
I invested $2,000 with MGM Global after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Central Bank of Ireland.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Several red flags with MGM Global: (1) They promise unrealistically high returns, (2) They're not registered with Central Bank of Ireland, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
I requested my data from MGM Global under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Great customer service|Transparent fees|Quick verification
Cons: Would like more payment methods|Mobile app could be improved
The reporting at MGM Global is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Multi-device support|Excellent charting|Automated trading options
Cons: Would like more payment methods|Email notifications too frequent
MGM Global changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Educational resources|Regular platform improvements|Social trading features
Cons: Minimum deposit could be lower|No integrated tax optimization
I opened an account with MGM Global for over three years ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Intuitive for beginners|Responsive team|Stable platform
Cons: No dark mode on mobile
After since last summer with MGM Global 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: Dividend tracking|Clean UI
Cons: Help articles are sometimes vague|Email notifications too frequent
MGM Global seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Smooth onboarding|Segregated accounts|Educational resources
Cons: Limited ETF selection|Minor UI glitches occasionally
I wanted to transfer my portfolio from another broker to MGM Global. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Helpful community forum|Regular updates|Easy withdrawals|Demo account available
Cons: Live chat only during business hours|Onboarding videos are outdated