MGX Foundation has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". MGX Foundation found at www.mgxfoundation.com is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Do not believe the bonus offer from MGX Foundation. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through word of mouth in my investment club and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Automated trading options|Demo account available|Educational resources|Multiple order types
Cons: Slow to add new assets
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Appears in regulatory warnings database|Uncertain regulatory status
I am in a dispute with MGX Foundation 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.
Pros: Two-factor authentication|Multi-device support|Market news feed|Segregated accounts
Cons: Limited cryptocurrency options