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Magna FX

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Operating status: SCAM

Website: https://fx-magna.com/

Broker violations and abnormal records
  • 2024-09-11 BrokersView has reviewed that Magna FX is an unregulated broker

    According to its website, it is located in the UK. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA).

    In essence, Magna FX is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    Magna FX appears to be a scam.

    According to its website, it is located in the UK. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA).In essence, Magna FX is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Magna FX appears to be a scam.

Related Complaints

Q&A

Can I trust Magna FX?

mani
Barbados
2024-09-13
ANSWER Dear Investor,We are concerned that Magna FX is a scam.While Magna FX claims to be in the UK, there are no indications that it is registered with the Financial Conduct Authority (FCA). This means it is not authorized to solicit investors or provide financial services.Therefore, we strongly suggest you avoid using Magna FX due to its unlicensed status. To have a safer trading environment, it is recommended to choose fully regulated brokers.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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