In this section we will analyze the broker MAGNUM FX (also called magnumfx.eu), is a CFD broker. Is MAGNUM FX really recommended to make an investment? Or is it better not to invest with this company? Is it a safe broker? Is a gotcha? We will help you determine it.
You may be wondering why we reviewed MAGNUM FX. It is because we have received some messages from clients asking about the company, and we like to think that our reviews page helps investors, providing key information about the company, we disclose information that every investor should know before leaning or not, for Invest with an investment company.
It is worth mentioning that the MAGNUM FX website does not have a Spanish version, although due to messages from Spanish-speaking clients, we have also decided to review MAGNUM FX.
We carry out this review and assessment, due to the fact that we receive different messages and comments asking about the reliability of the company in question.Are you a representative of this company? Leave a comment responding to customer concerns.
Essential information: Who does it belong to? Where is located? Is it a regulated broker?
The broker mentions being part of: Magnum FX (Cyprus) Ltd.
As to its location, the broker mentions being based in: Cyprus.
If we analyze Broker regulation: Magnum FX is regulated by CySEC (359/18) Cyprus regulatory body.
If now we go on to analyze account types that MAGNUM FX offers, we note that they offer really do not provide information about owning different types of account / plans.
The platforms to operate that MAGNUM FX offers are: MT4.
We will now analyze the different resources and aids for traders that MAGNUM FX provides on its website. We believe that the resources and help provided on the website can be a point in favor of the broker.
MAGNUM FX provides the following help or resources to traders or interested parties: explanation of financial products that MAGNUM FX offers, really not much more than this.
| Other information about MAGNUM FX |
Some more information in case you want to contact the company, or see its website for yourself.
Phone number: + 357 25 053547
Email: [email protected]
>>> Assessment on MAGNUM FX <<
Ending with this section, in our opinion Do we believe that the MAGNUM FX company is reliable? Should you invest your money with the company?
The truth is that, we believe that it is better to be careful because: it is a regulated broker, but in Cyprus, which we consider to be very bad regulation, it is based in unsafe countries (Cyprus). We suggest using caution. The broker is related to a broker with a very bad reputation, ETFINANCE.
Medical Attention: in June 2020 lCONSOB (Italy's financial regulator) has added MAGNUM FX to its blacklist of unauthorized brokers.
We always recommend working only with properly regulated companies, isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest?
You have to understand that one of the few measures that really ensure the clients' money is the regulation of the broker, that is, it is probably the most important thing in any broker; THAT IT HAS A GOOD REGULATION, DO NOT BE FOOLED. Good regulation means that there is an authority to which, in case of misunderstandings or problems, customers can complain.
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, you can also leave a comment on our website with your experience if you are a client of the broker.
We leave a vote open so that traders, clients and users of the broker can vote.