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Magic Compass

Cyprus|5-10 years|
Retail Forex License|Medium potential risk|Offshore Regulated|

https://pro.mcint-as.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

11
Server Name
MagicCompass-Live MT4
Server Location China

Contact

https://pro.mcint-as.com/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

Magic Compass GLOBAL CAPITAL LLC

Abbreviation

Magic Compass

Platform registered country and region

Cyprus

Company website

Pyramid scheme complaint

Expose

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WikiFX Risk Alerts
Previous Detection : 2024-11-05
  • The Seychelles FSA regulation with license number: SD184 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

Magic Compass · WikiFX Survey
Good A Visit to Magic Compass in Cyprus -- Office Found
Cyprus

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Magic Compass · Company Summary

Company Summary

Company profile

Proway Global Capital LLC, with over ten years of profound experience in the financial industry, provides professional localized services. We are licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC, License No.: 299/16), the Seychelles Financial Services Authority (FSA, License No.: SD184), Canadian Fintrac MSB (License No.: M22044625), and the Financial Services Authority FSA of Saint Vincent and the Grenadines (Registration No.: 360LLC2020), ensuring the legality and security of transactions. We have service locations in different countries and cities worldwide. We offer clients the MT4 and our proprietary APP trading platforms, covering over 50 popular global financial products including forex, gold, silver, crude oil, indices, cryptocurrencies, and U.S. stocks. With multiple global locations, we provide 24-hours online customer service support, always ready to address client inquiries and ensure hassle-free trading experience.
Aspect Information
Registered Country Cyprus
Company Name Magic Compass GLOBAL CAPITAL LLC
Regulation No license
Tradable Assets forex, offshore Chinese yuan, metals, oil, indices & shares, cryptocurrencies
Leverage Not mentioned
Spread Not mentioned
Trading Platforms MT4, Magic Compass APP
Minimum Deposit Not mentioned
Customer Support 24/7 online chat, WeChat

What is Magic Compass?

Magic Compass is a trading platform that offers a variety of financial instruments, including forex, commodities, indices, shares, and cryptocurrencies. It provides traders with popular tools such as the MetaTrader 4 (MT4) platform for PC and mobile devices, along with its own proprietary Magic Compass APP, enhancing the trading experience with accessible technology.

However, Magic Compass operates without a financial regulatory license, which raises concerns about the security of funds and the overall reliability of the platform.

Magic Compass homepage

Pros & Cons

Pros Cons
Wide range of trading instruments No license
MT4 supported Limited customer support channels
24/7 customer support

Magic Compass offers a wide range of trading instruments, including forex, offshore Chinese yuan, metals, oil, indices & shares, and cryptocurrencies. Additionally, the platform supports MT4 (MetaTrader 4), a popular trading platform known for its powerful features and user-friendly interface. Magic Compass also provides 24/7 customer support, ensuring that assistance is available at any time.

However, there are some drawbacks to consider. Most notably, Magic Compass does not hold any licenses from financial regulatory authorities, which could increase the risk for investors. Moreover, despite offering round-the-clock customer support, the channels through online chat and Wechat are relatively limited.

Is Magic Compass Legit?

The legitimacy of Magic Compass is significantly called into question due to its lack of any financial regulatory license. Operating without a license means that Magic Compass does not adhere to the stringent standards and oversight typically enforced by financial regulatory bodies. This lack of regulation can expose traders to higher risks, including less protection in financial disputes and potential issues with the security of their funds.

Market Instruments

Magic Compass provides a diverse array of market instruments, catering to a wide range of trading preferences and strategies. The platform offers trading in major forex pairs, which is ideal for those interested in the dynamic currency markets. Additionally, it includes offshore Chinese yuan options, appealing particularly to traders looking to diversify or capitalize on Chinese market fluctuations.

For those interested in commodities, Magic Compass offers metals and oil trading, providing opportunities to trade on global commodity price movements. The platform also covers indices & shares, allowing traders to engage with major global stock markets and benefit from broader economic trends.

Furthermore, Magic Compass has embraced the digital age by including cryptocurrencies in its offerings, catering to modern traders who are interested in the burgeoning market of digital currencies.

Trading Platforms

Magic Compass provides its clients with versatile and accessible trading platforms, ensuring a seamless trading experience across various devices. The well-regarded MetaTrader 4 (MT4) platform is available for both PC and mobile devices (iOS and Android), offering traders robust analytical tools, advanced charting capabilities, and automated trading options through Expert Advisors (EAs). MT4 is celebrated for its reliability and comprehensive functionality, making it a favorite among novice and experienced traders alike.

MT4

Additionally, Magic Compass offers its proprietary Magic Compass APP, which likely integrates unique features tailored to the specific needs of its users, enhancing their trading experience with customized tools and resources. This dual-platform approach allows traders to stay connected and manage their trades effectively from anywhere in the world, providing flexibility and control over their trading activities.

Magic Compass investment APP

Trading Tools

Magic Compass enhances its trading platform with an economic calendar, a crucial resource for traders who need to stay informed about significant economic events that can influence market conditions. The economic calendar provided by Magic Compass lists important dates and events such as central bank meetings, economic statistics releases, and other market-moving news from various countries. This tool helps traders anticipate market volatility and plan their trading strategies accordingly.

Conclusion

In conclusion, while Magic Compass provides a range of appealing features such as a broad array of market instruments and access to both MT4 and its proprietary app, potential traders should approach with caution due to significant regulatory concerns. The platform's lack of a financial regulatory license poses risks that are not present in regulated environments, potentially affecting the security of funds and the overall trading experience.

FAQs

Is Magic Compass a legitimate company?

No. It currently has no valid regulations.

What market instruments does Magic Compass offer?

Forex, offshore Chinese yuan, metals, oil, indices & shares, cryptocurrencies

What trading platforms does Magic Compass offer?

MT4 and Magic Compass APP.

How to contact Magic Compass?

24/7 online chat and WeChat.

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