MogaFX review: Regulations, Trading platforms, Broker features, and User ratings.

1.377 • 9 REVIEWS
Moga International Group Pty Ltd Also
Updated: Jan 20, 2024

What is MogaFX?

MogaFX is a forex broker with MT4, MT5 and WebTrader forex trading top platforms. offers over 35 forex currency pairs, CFDs, commodities, gold, silver and oil for your personal investment and trading options.

Please read MogaFX Reviews below and share your live trading experiences with this broker.

July 2022:  Representatives of and have been banned from the FPA's forums.  They both used the same IPs and were posting articles where some or all of the text appeared to have been "borrowed" from other sources without attribution.
September 2021:  An employee of MogaFX created 2 FPA forums accounts, started a thread saying he was a client of MogaFX, then used the second account to agree with himself.  CLICK HERE to see how Spam Cat cooked him before eating him.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $1,000
Established: 2018
Address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent And Grenadines
Contact:, +61291890220
Regional offices:
Regulators: ASIC #501156, SVGFSA #532LLC2020
Prohibited countries: Unknown
Trading platforms: MT4, MT5, WebTrader
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (35+)
CFD: (20+) Gold, Silver, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (BankTransfer/SWIFT), B2BinPay, Bitcoin, FasaPay, GCPay, Neteller, Online Bank Transfer, PerfectMoney, Skrill, SticPay, Tether (USDT)
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), B2BinPay, Bitcoin, FasaPay, GCPay, Neteller, Online Bank Transfer, PerfectMoney, Skrill, SticPay, Tether (USDT)
* Please check broker website for more information
1.377 • 9 REVIEWS

Recent User Reviews of MogaFX

Ho Chi Minh City, Viet Nam (really inside the offices of MogaFX),
Nov 15, 2021,
Registered user

so far so good (I forgot to say that they pay my salary)

Service use: Live Length of use: 0-3 Months
seems to be a very new broker, quite fresh in the market, i was looking for recommendations of signals and the account managers constantly keeps recommending traders so i guess it's good customer service
Forex Peace Army
Review moderation team note
4 Star rating removed.

This review came from a user account created from the same IP as a MogaFX representative's account.  Per FPA policy, the rating on this review has been set to Zero stars.
Limassol, Cyprus,
Dec 28, 2022,
Registered user

Minimum Withdrawal $100 - High slippages

Service use: Live Length of use: 0-3 Months
I had deposited $100 to test MogaFX, but the spreads are not as cheap as advertised, and have received terrible slippage on all executions (I compare daily the executions of multiple Retail FX brokers as part of analyzing, and weed out brokers adding artificial delays or use of virtual dealer software plugins), and after losing $50 and deciding MogaFX is not good broker to continue my trading, they will not process or allow a withdrawal of $50, stating that the minimum withdrawal is $100 (Account Manager reached out to me and said to deposit another $50 in order for the balance to bcoe $100, and then to request a full withdrawal! This kind of stuff is unheard of!).

I prefer to leave the $50 to rot at MogaFX, and inform all investors and traders considering to trade with MogaFX to be aware of this (There is a plethora of better brokers out there guys! Much better conditions to be found elsewhere)
Toronto, Canada,
Nov 3, 2022,
Registered user


Service use: Live Length of use: 0-3 Months
I have record of over 100+ back and forth messages with support saying that "their withdrawal process is filled with too many withdrawals to process" so it's taking time which has now been over a year.

The amount is for 937.18 so for I find it impossible to believe that this would need to take over a year!!!!!!!!!!!!

This is a complete scam and they should be held accountable.

I will only remove this review once my funds are sent to me.
Philippines, Philippines,
Oct 20, 2022,
Registered user

MogaFX doesn’t return my money

Service use: Live Length of use: 0-3 Months
Avoid MogaFX. They don’t return your money!!! They designed their website to defraud individuals who started forex trading.

I put 40,000 usd on their account and requested to withdraw 20,000 after I lost half of my account. They told me that I need to add another 40,000 so I could withdraw my money. They treat you like a fool and stupid. Keep your money safe!
Parana, Brazil,
Aug 12, 2022,
Registered user

MogaFX is not sending my withdrawal and not answering messages

Service use: Live Length of use: 3-6 Months
I have traded with them for a while and decide to withdrawal from my account, and then the issues started. It has been 10 days already since this message that my withdrawal has not been processed. I tried to contact them by internal support ticket and no answer. I also mailed their support at and no answer as well. Seems like a big scam!
Penang, Malaysia,
Feb 10, 2022,
Registered user

Mogafx withdrawal always show processing only

Service use: Live Length of use: 0-3 Months
i m facing withdrawal from mogafx . first withdrawal very fast. second time withdrawal always proccessing only. notice withdrawal control by Taiwan support manager. Not sure anyone facing same problem with me or not. not sure this mogafx broker house is SCAM .

Deposit / Withdrawal History
From 2022/02/01 To 2022/02/11
Deposit / Withdrawal Details
MT4 Account Type Application Date Transfer Date Method Amount Credit Amount Status
2030355 Withdrawal 2022/02/07 11:38:49 - NETELLER 578.00 0.00 Processing
2030355 Withdrawal 2022/02/04 15:00:15 - Skrill 420.00 0.00 Processing
2031667 Withdrawal 2022/02/04 14:53:36 - UnionPay-MY 1,000.00 0.00 Processing
2031668 Withdrawal 2022/02/04 14:26:33 - NETELLER 1,000.00 0.00 Processing
Batu Pahat, Malaysia,
Aug 25, 2021,
Registered user


Service use: Live Length of use: 3-6 Months
MogaFx is a legit forex company. I invested two months ago and i earns about $1000.I suggest this broker for trading. The withdrawer of money from my account is also very fast,just take about 1-2days. Really happy with that
Singapore, Singapore,
Aug 16, 2021,
Registered user

A happy customer.

Service use: Live Length of use: 0-3 Months
I started my trading with MogaFX this July.
My user experience with them so far is excellent.
- I had no problem withdrawing funds.
- Over loss never happened.
- Principal guarantee with a particular strategy was honored duly.
- Account manger was responsive and efficient.

Overall, I am a happy customer.
egypt, Egypt,
Jul 6, 2021,
Registered user

scam broker

Service use: Live Length of use: 0-3 Months
scam broker After completing the withdrawal conditions, you will never be able to withdraw your money.
2 traders have found this review helpful