MGM Global Review 2025

Even $300, which MGM Global requests as the minimum deposit, is too much to risk. Boldly lying about having licenses from FCA, CySEC, and ASIC is a level of audacity that even surpasses typical scammers. Such information is easily verifiable, but the calculation was made on inexperienced traders who don't know how to do it. They could have at least mentioned lesser-known regulators or those whose websites don't allow brokers to be checked for licenses. Moreover, they provided a proprietary platform. I'm not saying these are the main signs of scammers, as I know great brokers with proprietary platforms. But if the demo account is unavailable, then you need to think twice before opening a live account.

Scammers like MGM Global use one and the same scheme: they somehow get your phone number and start persuading you to make a deposit. Manipulations and deception come into play. They always promise you the lowest fees, fast withdrawals, and comprehensive assistance. When you deposit money, either trading becomes impossible due to constant platform glitches, or you encounter a banal profit withdrawal block. By the way, closing an account or access to the account is also a common practice among scammers. MGM Global uses precisely this scheme. I avoided becoming a victim by verifying their regulatory status and heeding the warnings of previous victims..

MGM Global is not a brokerage company. Its website is designed to steal your money under the guise of CFD trading. The MGM Global web platform is a simulator where everything is set up so that each of your trades results in a loss, not a profit. Currency quotes are fabricated, and spreads are exorbitant. I lost my entire $1,000 investment. There was nothing to withdraw. I couldn't even start any trading robots, even though I set all the necessary parameters. After reading reviews about MGM Global, I was horrified because some people lost much more money than I did. As I understood, not only did the platform not work properly, but also traders couldn't get their money back due to canceled requests or account blockages.

A year ago, as a novice trader, I lacked an understanding of the broker landscape. MGM Global's website captured my attention, and their claims of regulation seemed credible. Now, I can laugh at my naivety, despite the $300 I lost. Fortunately, the amount was minimal, preventing more significant financial damage. Every one of the 30 trades executed on their platform resulted in losses. This consistent pattern prompted me to research online reviews, where I quickly realized I had fallen victim to scammers. This experience taught me the importance of verifying a broker's regulatory status and diligently researching their reputation before investing.

Right from the start, MGM Global didn't hide that they would interfere with my trading in every possible way. From the very first trades, I noticed price manipulation. Slippages were horrendous, and the spreads were simply enormous. Trading with a profit under such conditions is simply impossible, so I requested my funds back. My withdrawal request was canceled three times, supposedly due to margin deficiencies. But I didn't deposit any more money. I only reduced the amount in the withdrawal request. It didn't help, and they started blatantly ignoring me. The personal manager, who used to call me several times a week, stopped answering my calls. That's how I lost about $500. Don't trust MGM Global's promises!

Recently, I attempted to access my MGM Global account to check the status of my frozen withdrawal. Unsurprisingly, my login was unsuccessful. Subsequent efforts to reset my password were futile as I never received the necessary confirmation. Despite months of communication with their technical support, the withdrawal remains unresolved. This matter will not be rectified. My experience with MGM Global resulted in not only a financial loss of approximately $600 but also a significant waste of time that could have been invested in research or trading with a reputable broker.

For Forex brokers that don't offer demos, I start with the smallest possible amount. MGM Global's account specifications state a starting deposit of $1,000, but you can fund it in installments starting from $300. When I deposited $300, I couldn't trade with leverage. The manager explained that I needed to top up the deposit to at least $1,000, although there was no such information on the website. I decided that I didn't want to continue dealing with a broker who deceives potential clients and requested a withdrawal the next day. However, I didn't receive my funds back either after a week or after six months. At first, they came up with various reasons and accused me of violating the terms of the offer, but then they simply stopped responding.