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About

We've been proud to connect independent traders to the potential of the global currency markets since 2001. Today, we continue to challenge ourselves to provide traders with what they need to succeed. We will earn your trust and loyalty by delivering an exceptional trading experience with superior execution and low consistent costs. Many brokers claim to have superior execution, but do they have the numbers to back it up? We do. Get the most out of every trade with our clear, competitive pricing. No complicated schemes, no small print. We enforce robust bank review and monitoring guidelines which are set by the Risk Committee of StoneX Group Inc. (NASDAQ: SNEX) All customer deposits are kept separate from our own operating funds and distributed across a global network of custodian banks. FOREX.com is a member of the National Futures Association (NFA). We’re also regulated in six other jurisdictions worldwide through our affiliates.

About

MagnoFx is an online forex and CFD broker designed to provide traders with fast execution, tight spreads, and flexible leverage options. With a minimum deposit of just $10, users can begin trading across forex, indices, commodities, and cryptocurrencies with access to spreads starting from 0.0 pips and commissions as low as $2 per lot. The platform emphasizes speed and reliability, offering ultra-fast execution and leverage up to 500:1 to help traders maximize opportunities. Security is a top priority, with client funds protected and negative balance safeguards in place. Deposits are processed instantly while withdrawals are approved in under 60 minutes, ensuring smooth and timely transactions. MagnoFx also supports a range of devices, allowing traders to access the platform via web, desktop, and mobile for flexible, on-the-go trading.

Platforms Supported

Windows Not Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported

Platforms Supported

Windows Not Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Supported
iPad Not Supported
Android Supported
Chromebook Not Supported

Audience

Independent traders requiring a solution to connect and trade through global currency markets

Audience

Forex traders

Support

Phone Support Supported
24/7 Live Support Supported
Online Supported

Support

Phone Support Not Supported
24/7 Live Support Supported
Online Supported

API

Offers API Not Supported

API

Offers API Not Supported

Screenshots and Videos

Screenshots and Videos

Pricing

No information available.
Free Version Not Supported
Free Trial Not Supported

Pricing

Start trading with $15
Free Version Not Supported
Free Trial Supported

Reviews/Ratings

Overall 0.0 / 5
ease 0.0 / 5
features 0.0 / 5
design 0.0 / 5
support 0.0 / 5

This software hasn't been reviewed yet. Be the first to provide a review:

Review this Software

Reviews/Ratings

Overall 4.9 / 5
ease 4.5 / 5
features 4.3 / 5
design 3.6 / 5
support 3.8 / 5

Pros & Cons from Real Users

Pros

  • I pay far more attention to withdrawals than deposits. A broker can make depositing money effortless, but that tells me very little about the complete experience. With MagnoFX, I wanted to understand the KYC and withdrawal process before treating the account as a serious trading account. The crypto withdrawal route is convenient for me because I already use crypto, and I like knowing that there is a defined verification process rather than discovering the requirements only when I urgently need the money.
  • MagnoFX gives me the basic tools I need to place and manage trades, but the feature I appreciate most is actually the straightforward access to trading information and account management. The economic calendar and charting tools are useful when planning trades, particularly when I want to know whether a major event could disrupt a setup.
  • I am primarily a scalper, so I have different priorities from someone who opens two trades a month. With MagnoFX, I liked the fact that scalping is explicitly allowed and that the RAW account is designed around tight spreads and commission-based pricing. I can enter and exit positions without feeling like the account structure is fighting against a short-term strategy. The ability to use high leverage is also useful for capital efficiency, although I keep my actual risk much lower through position sizing.
  • I mainly trade EUR/USD and GBP/USD around the London open, so I'm less interested in a broker telling me that spreads can be 0.0 and more interested in what happens when the market actually starts moving. With MagnoFX, the thing I've liked most is that I haven't felt like every entry needs an extra cushion just to account for ridiculous spread expansion. I still avoid entering blindly around major news, but during a normal London session the pricing has been workable for the short trades I take. The RAW setup makes more sense for the way I trade because I'm already calculating commission into every position.
  • One of the first things I check with a broker is whether my actual strategy is compatible with the account rules. I don't want to spend months testing something and then discover that the broker doesn't allow the way I trade. With MagnoFx, I specifically looked at things like scalping, MT4 compatibility, account pricing and leverage before moving forward. That gave me a better idea of whether the broker was suitable before I started treating it as a serious trading account.

Cons

  • MagnoFX should make the withdrawal requirements and expected processing times more prominent. I'd rather read the exact conditions before making a withdrawal than discover an additional verification requirement at the end.
  • This is where I think MagnoFX could become much better. I want the platform to tell me how I am trading, not simply allow me to trade. A performance dashboard showing win rate, average winner, average loser, profit factor, drawdown, average holding time, trading-session performance and total commissions would be incredibly useful. Even better would be a monthly report showing how much I actually spent on spreads and slippage.
  • The leverage options need to be treated carefully. Having access to 1:500 leverage is useful, but I would prefer to see more prominent risk-management guidance alongside it, particularly for newer traders.
  • The conditions aren't magically perfect every second. Around major releases, the market gets messy like it does elsewhere, and I wouldn't scalp through NFP expecting the same conditions as a quiet Asian session. I also think people need to stop reading "from 0.0 pips" as meaning they'll see zero on every trade.
  • Checking the rules once isn't enough. Account conditions can change, and traders should keep an eye on the current terms instead of assuming that something they read when opening the account will remain unchanged forever.

Training

Documentation Supported
Webinars Not Supported
Live Online Supported
In Person Supported

Training

Documentation Not Supported
Webinars Not Supported
Live Online Not Supported
In Person Not Supported

Company Information

FOREX.com
Founded: 2001
United States
www.forex.com/en-us/

Company Information

MagnoFx
www.magnofx.com

Alternatives

Alternatives

Categories

Categories

Integrations

MetaTrader 4 Supported
CoinHub Supported
NinjaTrader Supported
OspreyFx Supported
TradersPost Supported
TradingView Supported

Integrations

MetaTrader 4 Supported
CoinHub Not Supported
NinjaTrader Not Supported
OspreyFx Not Supported
TradersPost Not Supported
TradingView Not Supported
Claim FOREX.com and update features and information
Claim FOREX.com and update features and information
Claim MagnoFx and update features and information
Claim MagnoFx and update features and information