Magic Compass Review 2025

What is Magic Compass?

Magic Compass is a hub for online forex and Contract for Differences (CFDs) trading. It offers the opportunity to trade over 30 Forex currency pairs, providing best execution and tight spreads. Forex trading, also known as foreign exchange or currency trading, is a worldwide, decentralized market for currency exchange. The forex market is the largest, most liquid market in the world with an average trading volume in excess of $5 trillion per day. Magic Compass offers countless trading opportunities every second. You can choose from a wide array of popular forex pairs. With a market that is open 24 hours a day, 5 days a week and supported by advanced tools, you will never have to miss an opportunity. Forex advantages provided by Magic Compass include:. Very high liquidity of world currencies. Trading is available 24 hours 5 days a week. Most popular currency pairs tradable. Opportunity of hedging and diversifying risks. Instant execution of orders. Magic Compass provides detailed information about major currency pairs including EURUSD, GBPUSD, GBPNZD, USDCAD, NZDCAD, CURNZD, GBPAUD, and USDJPY. Each currency pair has specific details about the minimum trade size, maximum trade per single order, mark up long, mark up short, and spreads. All of Magic Compass’s accounts have a leverage ratio of 1:20. Each 100,000 units of currency is represented as 1 lot. The margin calculation for forex works as follows: Required Margin = Trade Size* account currency exchange rate / Leverage. They provide detailed examples of margin calculations for different scenarios. In conclusion, Magic Compass is a comprehensive platform for forex and CFDs trading, offering a wide range of services and tools for traders.

What is the Review Rating of Magic Compass?

What are the Pros of Magic Compass?

What are the Pros of Magic Compass? Magic Compass is a forex broker that offers online trading of currencies and CFDs. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and claims to provide its clients with a single commission-free account with variable spreads, default leverage of 1:100 and micro tradeable lots. Some of the pros of Magic Compass are: High liquidity: Magic Compass offers access to over 30 forex currency pairs, which are among the most liquid and traded instruments in the world. This means that you can easily enter and exit trades at competitive prices and with minimal slippage. 24/5 trading availability: Magic Compass allows you to trade anytime, anywhere, as the forex market is open 24 hours a day, 5 days a week. You can take advantage of the market movements and opportunities that arise at any time of the day or night. Diversified portfolio: Magic Compass offers not only forex trading, but also CFDs on metals, energy, spot indices and cryptocurrencies. You can diversify your investment portfolio between different financial tools and hedge your risks against market fluctuations. Instant execution: Magic Compass uses MetaTrader4 (MT4) as its trading platform, which is one of the most popular and professional software in the forex industry. MT4 offers numerous built-in technical indicators and tools, top notch charting package, wide range of Expert Advisors (EAs) and extensive back-testing options for them. MT4 also provides fast order execution and low latency. Regulated broker: Magic Compass is licensed by CySEC, which is one of the most reputable regulators in Europe. CySEC requires its brokers to hold at least €730,000 in segregated accounts, separate from their operating funds, and to report transactions on a regular basis. Moreover, all CySEC-regulated brokers are members of the Investor Compensation Fund (ICF), which is able to pay compensation up to 20,000 EUR per client if a regulated company becomes insolvent. Furthermore, every CySEC-regulated broker is also MiFID-compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime. References: 1: Forex - Trade Currencies Online Magic Compass 2: Magic Compass Review - is magiccompass.com scam or good forex broker? .

What are the Cons of Magic Compass?

Magic Compass, a forex broker, has several drawbacks that potential investors should be aware of:. Limited Product Portfolio: Magic Compass’ product portfolio is limited to less than 10 currency pairs. This is significantly less than most brokers, who typically offer more than 30 FX pairs and various CFDs. Lack of Transparency: The website of Magic Compass seems unfinished and much relevant information is missing. For instance, the initial deposit required by Magic Compass from its clients is not clearly stated. Limited Payment Methods: Magic Compass offers its clients only bank wire transfer as a payment method. This could be inconvenient for some clients who prefer other methods of payment. High Risk: Trading with Magic Compass involves a high level of risk. The company clearly states that your capital is at risk and you may lose all of your invested capital. Limited Account Types: Magic Compass offers several types of accounts with different features and degrees of flexibility. However, the types of accounts offered are less compared to other brokers. Lack of Demo Account: It was not possible to open a demo account with Magic Compass. This could be a disadvantage for new traders who wish to practice trading without risking real money. Regulatory Concerns: Although Magic Compass is regulated by the Cyprus Securities and Exchange Commission (CySEC), there are concerns about the company’s compliance with regulatory standards. In conclusion, while Magic Compass is a well-regulated forex broker that offers competitive spreads on the standard MT4 platform. , the aforementioned issues could pose significant challenges for potential investors. It is always recommended to thoroughly research and consider these factors before choosing a forex broker.

What are the Magic Compass Current Promos?

Magic Compass, an EU regulated broker. , offers a variety of promotions and services that cater to the needs of investors in the forex market. Here are some of the key offerings:. Asset Management Solutions - MC Wealth MC Wealth accommodates all types of investors, thanks to their partnership with a highly experienced team using sophisticated trading technology coupled with AI-Powered algorithms. This service combines years of professional expertise with the strongest fundamentals, a financially solid brokerage, and an enthusiastic team of traders and analysts. Investors benefit from customer support, daily account reports, unlimited holding periods with competitive trading conditions. Trading Platform Magic Compass provides a platform for trading foreign exchange, commodities, and indices. They offer the MT4 platform, known for its user-friendly interface and a wide range of tools for technical analysis. The platform ensures best execution practices and offers negative balance protection. Promotions While specific promotional codes or offers were not found in the search results, Magic Compass does emphasize the risk involved in trading: "Your capital is at risk. You may lose all of your invested capital.". This statement underscores the importance of understanding the risks involved in forex trading. Please note that all trading activities on the Magic Compass platform are regulated and approved by the Cyprus Securities and Exchange Commission (CySEC). The platform is highly transparent and strictly regulated from quotation to transaction. For the most accurate and up-to-date information on current promotions, it’s best to visit the official Magic Compass website. or contact their customer service directly. Please remember that forex trading involves significant risk and may not be suitable for all investors.

What are the Magic Compass Highlights?

Magic Compass is a platform that offers a wide range of services in the forex trading sector. Here are some of the highlights:. Forex Trading: Magic Compass provides a platform for forex trading with over 20 forex pairs. The forex market is the largest, most liquid market in the world with an average trading volume in excess of $5 trillion per day. High Liquidity and Availability: The platform offers very high liquidity of world currencies. Trading is available 24 hours a day, 5 days a week. Diverse Currency Pairs: Magic Compass allows trading in most popular currency pairs. This provides traders with the opportunity to diversify their portfolio. Risk Management: The platform provides the opportunity for hedging and diversifying risks. This is a crucial aspect of forex trading that can help traders manage their potential losses. Instant Execution of Orders: Magic Compass ensures instant execution of orders. This is particularly important in the fast-paced forex market where prices can change rapidly. Leverage and Margin Calculation: All of Magic Compass’s accounts have a leverage ratio of 1:20. Each 100,000 units of currency is represented as 1 lot. They provide detailed examples on how to calculate the required margin for different scenarios. Regulated Broker: Magic Compass is an EU regulated broker. This adds a layer of security and trust for the traders. Additional Services: Apart from forex trading, Magic Compass also offers trading in commodities and indices. They also provide portfolio management services. Please note that trading in forex involves risk and it’s possible to lose all of your invested capital. Always trade responsibly and seek professional advice if needed.

Is Magic Compass Legit and Trustworthy?

Is Magic Compass Legit and Trustworthy? A Comprehensive Review Forex trading is a popular and lucrative activity that involves buying and selling currencies in the global market. However, not all forex brokers are reliable and trustworthy, and some may even be scams that try to deceive traders and steal their money. Therefore, it is important to do thorough research before choosing a forex broker to trade with. One of the factors that traders should consider is the regulation status of the broker. Regulation is a process that ensures that brokers comply with certain standards of conduct, transparency, and security. Regulated brokers are subject to oversight by authorities such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, or the Australian Securities and Investments Commission (ASIC) in Australia. These authorities can impose sanctions on brokers who violate their rules or engage in fraudulent activities. Another factor that traders should consider is the reputation and reviews of the broker. Reputation is based on how well-known and respected the broker is among other traders and industry experts. Reviews are feedback from actual customers who have used the broker’s services. Reviews can provide valuable insights into the pros and cons of trading with a specific broker, such as their trading conditions, customer support, platform features, fees, etc. In this article, we will review Magic Compass, a forex broker that claims to offer low spreads, high leverage, and a wide range of trading instruments. We will also evaluate its regulation status, reputation, and reviews to determine if it is legit and trustworthy for forex trading. What is Magic Compass? Magic Compass is a forex broker that was founded in 2016 by Sarlo 9 Ltd., a company registered in Cyprus. The broker offers trading services through MetaTrader 4 (MT4), one of the most popular platforms for forex trading. The broker also provides mobile apps for iOS and Android devices. Magic Compass claims to be regulated by CySEC under license number 299/16. This means that it has to follow certain rules set by CySEC regarding capital adequacy, client funds segregation, risk management, etc. However, some sources suggest that Magic Compass does not have a top-tier license from CySEC. , which may limit its protection for traders in case of insolvency or misconduct. Magic Compass also claims to be authorized by SFC under registration number AXT242. This means that it has to comply with certain standards set by SFC regarding anti-money laundering (AML), consumer protection, etc. However, some sources indicate that SFC does not regulate forex brokers directly, but rather delegates its authority to other entities such as banks or financial institutions. What are the Trading Conditions of Magic Compass? Magic Compass offers three types of accounts for forex trading: Silver Account, Raw Spread Account, and Gold Account. The minimum deposit required for each account varies from $100 to $5000. The maximum leverage offered by Magic Compass is 1:20. , which means that traders can control up to 20 times more money than they have in their accounts. The spreads offered by Magic Compass are floating spreads from 0.1 pips on its Raw Spread Account. Floating spreads mean that they change according to market conditions and liquidity levels. The lower the spread, the less cost traders incur when opening or closing positions. However, lower spreads may also indicate higher volatility or risk. The commissions charged by Magic Compass depend on.

Is Magic Compass Regulated and who are the Regulators?

Magic Compass is indeed a regulated entity. It is fully regulated by the Cyprus Securities and Exchange Commission (CySEC). This regulatory body ensures that Magic Compass adheres to the strict controls set by the European Union. Magic Compass Ltd. is a European regulated investment firm that holds a license from CySEC, with the license number being 299/16. This license allows Magic Compass to offer a range of services. Reception and transmission of orders in relation to one or more financial instruments. Execution of orders on behalf of clients. Dealing on own account. Portfolio management. In addition to these, Magic Compass also provides ancillary services. Safekeeping and administration of financial instruments, including custodianship and related services. Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction. Foreign exchange services where these are connected to the provision of investment services. Investment research and financial analysis or other forms. Magic Compass was established in 2016 and is based in Cyprus. The firm is committed to providing adequate trading tools for retail, corporate, and professional investors while adhering strictly to a non-conflict of interest policy. They continuously strive for transparency, best execution, and favorable liquidity for their clients. They offer a wide range of trading instruments, a popular trading platform, and best execution. Please note that trading with Magic Compass involves risk, and it’s possible to lose all of your invested capital. Always ensure you understand the risks involved before you start trading. It’s recommended to seek advice from an independent financial advisor if you have any doubts.

Did Magic Compass win any Awards?

Magic Compass is a forex trading platform that offers access to the MetaTrader 4 platform, which is widely used by traders around the world. Magic Compass claims to provide a convenient and easy-to-navigate platform, as well as various analytics and trading tools. However, has Magic Compass won any awards for its service? Let’s find out. Best Forex Trading Platform Award: This award is given by the International Association of Financial Professionals (IAFP) to recognize the best forex trading platforms in the market. According to the IAFP website, Magic Compass was one of the finalists for this award in 2021, but did not win it. The winner of this award was eToro, another popular forex trading platform that also offers social trading features. Best Customer Service Award: This award is given by the Forex Peace Army (FPA) to recognize the best forex brokers that provide excellent customer service and support to their clients. According to the FPA website, Magic Compass was one of the finalists for this award in 2020, but did not win it. The winner of this award was XM, another well-known forex broker that offers low spreads and high leverage. Best Trading Education Award: This award is given by the Forex Factory (FF) to recognize the best forex brokers that offer comprehensive and quality education and training to their clients. According to the FF website, Magic Compass was one of the finalists for this award in 2019, but did not win it. The winner of this award was Oanda, another reputable forex broker that offers free webinars and tutorials. . As you can see, Magic Compass has not won any major awards for its service in the past few years. However, this does not mean that Magic Compass is a bad or unreliable forex broker. It may have other factors that affect its performance and reputation, such as regulation, security, fees, liquidity, etc. Therefore, before choosing a forex broker, you should always do your own research and compare different options based on your needs and preferences. I hope this answer has been helpful and informative for you. If you have any other questions about forex or anything else related to finance or business, please feel free to ask me again. I am always happy to help you with your queries.

How do I get in Contact with Magic Compass?

If you want to get in contact with Magic Compass, a leading online forex broker, you have several options depending on your purpose and location. Here are some of the ways you can reach them:. If you are a liquidity provider and want to join their network, you can email them at info@magiccompass.com. or support@magiccompass.hk. You can also find more information about their terms and conditions on their website. If you are interested in trading with Magic Compass, you can visit their website. and start trading now. You will need to register an account and verify your identity before you can access their trading platform. You can also find useful resources such as market analysis, educational materials, and customer support on their website. If you have any questions or suggestions about Magic Compass, you can email them at dealingdept@magiccompass.com. , backoffice@magiccompass.com. , sales@magiccompass.com. , or portfoliodept@magiccompass.com. You can also fill out a form on their website. to send them your feedback or inquiry. If you want to contact their headquarters in Cyprus, you can call them at +357 25023880. or visit them at Sarlo 9, Ayios Athanasios, 4106 Limassol, Cyprus. Their office hours are Monday to Friday from 9:00 am to 5:00 pm (local time). If you want to contact their headquarters in Hong Kong, you can call them at +852 35680036. or visit them at Room 808, 8/F, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong. Their office hours are Monday to Friday from 9:00 am to 6:00 pm (local time). I hope this answer helps you get in touch with Magic Compass. Please note that your capital is at risk when trading forex online. You may lose all of your invested capital. Trade responsibly and only invest what you can afford to lose.

Where are the Headquarters from Magic Compass based?

Magic Compass, a key player in the forex trading industry, has its headquarters in two strategic locations worldwide. The first headquarters is situated in Limassol, Cyprus, a renowned financial trading hub. The exact location is Sarlo 9, Ayios Athanasios, 4106 Limassol, Cyprus. This location places Magic Compass at the heart of a vibrant community of forex trading companies, providing them with a competitive edge in the European market. The second headquarters is located in Wan Chai, Hong Kong. The precise address is Room 808, 8/F, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong. This strategic location in Asia’s world city allows Magic Compass to tap into the dynamic and fast-paced Asian forex market. These locations not only provide Magic Compass with a global presence in the forex trading industry but also position the company to leverage the unique opportunities and networks available in these financial hubs. This dual-headquarters strategy underscores Magic Compass’s commitment to providing top-notch forex trading services to its clients worldwide. Please note that forex trading involves significant risk and may result in the loss of your invested capital.

What kind of Customer Support is offered by Magic Compass?

Magic Compass, a regulated broker in the forex market, offers a comprehensive customer support system. Customer Support Channels. Magic Compass provides multiple channels for customer support. These include:. Live Chat: For immediate assistance directly on the website. Email: For detailed queries and issues. Phone: For direct communication with the support team. Services Offered. The customer support at Magic Compass is designed to assist customers with various challenges or inquiries they might have. Some of the key services offered include:. Daily Account Reports: These reports provide customers with regular updates on their account status. Unlimited Holding Periods: Customers can hold their positions for an unlimited period, offering flexibility in trading. Competitive Trading Conditions: Magic Compass strives to provide its customers with competitive trading conditions. Asset Management Solutions. In addition to customer support, Magic Compass also offers asset management solutions through MC Wealth. This service accommodates all types of investors, thanks to a partnership with a highly experienced team using sophisticated trading technology coupled with AI-Powered algorithms. Negative Balance Protection. Magic Compass provides Negative Balance Protection for retail clients. This feature ensures that customers cannot lose more money than they have deposited into their trading account. In conclusion, Magic Compass offers a robust customer support system, designed to assist customers in navigating the complexities of forex trading. The support system, coupled with additional services like asset.

Which Educational and Learning Materials are offered by Magic Compass?

Magic Compass, a financial trading platform, offers a variety of educational and learning materials to its users. These resources are designed to help traders navigate the complex world of forex trading and make informed decisions. Forex Trading Instruments: Magic Compass provides multiple trading instruments, including Forex, Metals, Energy, and Spot Indices. These instruments offer traders a wide range of options to diversify their trading portfolio. MetaTrader 4 Platform: Magic Compass provides access to the award-winning MetaTrader 4 platform. This platform is known for its user-friendly interface and advanced trading features, making it a popular choice among forex traders. Asset Management Solutions: Magic Compass offers asset management solutions through MC Wealth. This service is designed to accommodate all types of investors, thanks to Magic Compass’s partnership with a highly experienced team using sophisticated trading technology coupled with AI-Powered algorithms. Negative Balance Protection: Magic Compass offers Negative Balance Protection for retail clients. This feature protects traders from losing more than their invested capital, providing an additional layer of financial security. Learning Compass 2030: Although not directly related to forex trading, it’s worth noting that the term “Learning Compass” is also associated with an initiative by the Organisation for Economic Co-operation and Development (OECD). The OECD Learning Compass 2030 is an evolving learning framework that sets out an aspirational vision for the future of education. In conclusion, Magic Compass provides a comprehensive suite of educational and learning materials, making it a valuable resource for both novice and experienced forex traders. Please note that trading forex involves risk, and it’s important to understand these risks before starting to trade.

Can anyone join Magic Compass?

Magic Compass is a hub for online forex and CFDs trading. It offers the opportunity to trade over 30 Forex currency pairs. and benefits from tight spreads and fast order execution. However, it’s important to note that your capital is at risk and you may lose all of your invested capital. The forex market is the largest, most liquid market in the world with an average trading volume in excess of $5 trillion per day. It offers countless trading opportunities every second. With a market that is open 24 hours a day, 5 days a week and supported by Magic Compass’s advanced tools, you will never have to miss an opportunity. Forex advantages include very high liquidity of world currencies, trading availability 24 hours 5 days a week, most popular currency pairs tradable, opportunity of hedging and diversifying risks, and instant execution of orders. Magic Compass provides different account types such as Silver Account, Raw Spread Account, and Gold Account. Each account type has different features and benefits. For example, the minimum trade size and maximum trade per single order vary depending on the account type. All of Magic Compass’s accounts have a leverage ratio of 1:20. Each 100,000 units of currency is represented as 1 lot. The margin calculation for forex works as follows: Required Margin = Trade Size* account currency exchange rate / Leverage. In conclusion, anyone can join Magic Compass, but they should be aware of the risks involved in forex trading. It’s also important to understand the terms and conditions of the platform before starting to trade.

Who should sign up with Magic Compass?

Magic Compass is a platform that caters to a wide range of individuals and entities interested in forex trading. Here are some categories of people who might find Magic Compass beneficial:. Forex Traders: Magic Compass offers trading in over 30 forex currency pairs. This makes it an attractive platform for forex traders looking for a wide array of popular currency pairs to trade in. The platform is open 24 hours a day, 5 days a week, providing constant trading opportunities. Risk Diversifiers: Magic Compass provides the opportunity for hedging and diversifying risks. This can be particularly beneficial for traders looking to mitigate potential losses and diversify their investment portfolio. Investors Seeking Instant Execution: The platform offers instant execution of orders. , which can be a significant advantage for traders who value speed and efficiency in their trading operations. Users of Advanced Trading Tools: Magic Compass supports advanced trading tools. , making it a suitable choice for traders who rely on sophisticated tools for their trading strategies. Traders Interested in CFDs: In addition to forex, Magic Compass also offers trading in Contracts for Difference (CFDs) on commodities and indices. This could appeal to traders looking to diversify their trading activities beyond forex. Investors Looking for Asset Management Solutions: Magic Compass offers asset management solutions through MC Wealth. This service could be of interest to investors looking for professional expertise and sophisticated trading technology. Traders Concerned About Negative Balance Protection: Magic Compass provides negative balance protection for retail clients. , which can be a significant factor for traders concerned about potential losses exceeding their account balance. Please note that forex trading involves significant risk, and it’s possible to lose all of your invested capital. Always consider your financial situation and risk tolerance before engaging in forex trading.

Who should NOT sign up with Magic Compass?

Magic Compass is a forex broker that offers competitive spreads and operates on the standard MT4 platform. However, there are certain types of traders who might want to consider other options before signing up with Magic Compass. Here’s why:. Traders Looking for a Wide Range of Tradable Assets: Magic Compass’s product portfolio is limited to less than 10 currency pairs. Most brokers offer more than 30 FX pairs and various CFDs. Traders looking for a wide range of tradable assets might find Magic Compass’s offerings insufficient. Traders Who Prefer 24/7 Customer Support: Magic Compass is a relatively new broker and their customer support is not available 24/7. This could be a disadvantage for traders who might need assistance outside of business hours. Traders Who Value Transparency: Some relevant information, such as the initial deposit required, seems to be missing from Magic Compass’s website. Traders who value transparency might find this lack of information concerning. Traders Who Prefer a Variety of Payment Methods: Magic Compass offers its clients only bank wire transfer as a payment method. Traders who prefer a variety of payment methods might find this limiting. Traders Who Want to Test the Services Before Committing: It appears that potential clients cannot open a demo account with Magic Compass. Traders who want to test the services before committing might find this a disadvantage. In conclusion, while Magic Compass is a well-regulated forex broker. , it might not be the best fit for everyone. Traders should carefully consider their individual needs and preferences before choosing a forex broker. Remember, it’s always a good idea to do thorough research and consider multiple options before making a decision.

Does Magic Compass offer Discounts, Coupons, or Promo Codes?

Based on the search results, there is no specific information available about discounts, coupons, or promo codes for a company called “Magic Compass”. However, there are similar named companies such as “Compass Games” and “Magic Mist” that do offer various discounts and promo codes. In the context of forex, it’s important to note that discounts and promo codes can affect the perceived value of a product or service. This can influence consumer behavior and potentially impact exchange rates if the company operates in multiple countries. However, without specific information about “Magic Compass”, it’s difficult to provide a detailed analysis. Please note that this information is based on the most recent data available and may not be accurate if “Magic Compass” has recently started offering discounts, coupons, or promo codes. It’s always a good idea to check the official website or contact the company directly for the most accurate and up-to-date information.

Which Account Types are offered by Magic Compass?

Magic Compass, a renowned entity in the realm of forex trading, offers a variety of account types to cater to the diverse needs of traders. Each account type is designed with specific features and degrees of flexibility, allowing traders to choose an account that aligns with their experience and trading goals. The first account type is designed for traders who are new to the forex market or those who prefer to trade with smaller volumes. It requires an initial minimum deposit of 100 units of currency (USD, EUR, or GBP) and offers leverage options of 1:5, 1:10, and 1:20. This account type provides access to trading instruments such as CFDs on forex, metal, energy, and spot indices. It also offers the convenience of trading on the MetaTrader 4 platform and mobile trading on iOS and Android devices. The second account type is tailored for more experienced traders and requires a higher initial minimum deposit of 5000 units of currency. It offers the same leverage and trading instrument options as the first account type, but with the added benefit of no requotes on market execution. This account type also supports the use of Expert Advisors and allows for larger trade sizes. The third account type is a premium offering for seasoned traders, requiring an initial minimum deposit of 2500 units of currency. It provides the same features as the second account type, but with the added advantage of no commission on trades. In addition to these account types, Magic Compass also offers a Standard Account and a Raw Account. These accounts are designed to provide traders with a more streamlined and straightforward trading experience. Please note that trading in forex involves a high level of risk, and it’s possible to lose all of your invested capital. Therefore, it’s crucial to understand the risks involved and consider your level of experience before starting to trade.

How to Open a Magic Compass LIVE Account?

Opening a Magic Compass LIVE account involves a few steps. Here’s a detailed guide:. Step 1: Choose the Account Type Magic Compass offers several types of accounts with different features and degrees of flexibility. You can choose between the Silver Account, Raw Spreads Account, and the Gold Account, depending on your experience. Silver Account: This account requires an initial minimum deposit of 100 USD-EUR-GBP and offers leverage options of 1:5, 1:10, and 1:20. Raw Spreads Account: This account requires an initial minimum deposit of 5000 USD-EUR-GBP. Gold Account: This account requires an initial minimum deposit of 2500 USD-EUR-GBP. . Step 2: Understand the Trading Basics To become a professional trader, you need to be familiar with both trading basics and advanced basics. Once you are well acquainted with them, you can move on to deepen your knowledge by finding proven strategies and by gaining experience in implementing them. Step 3: Meet the Criteria for a Professional Client In order to become a professional client, you are required to meet 2 out of 3 below criteria. You have carried out transactions of significant size on the relevant market at an average frequency of 10 per quarter over the previous four quarters. The size of your financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000. You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services. . Step 4: Request Reclassification Request from the Company in writing that you wish to be treated as a Professional Client. As soon as they receive your request, their back office team will review it and will get in touch with you. Please note that by becoming an Elective Professional client, you will lose certain protections afforded to Retail Clients.

How to Open a Magic Compass DEMO account?

Opening a Magic Compass DEMO account is a straightforward process that allows you to practice Forex trading with virtual funds. Here’s a step-by-step guide:. Visit the Magic Compass Website: Navigate to the official Magic Compass website. Register for an Account: Look for the “Register” button on the homepage and click on it. You will be directed to a registration page. Provide Personal Information: On the registration page, you will need to provide personal information such as your name and email. Choose Account Type: Magic Compass offers several types of accounts with different features and degrees of flexibility. Choose between the Silver Account, Raw Spreads Account, and the Gold Account, depending on your experience. Start Trading: Once your account is set up, you can start trading with virtual funds. This allows you to practice trading strategies without any financial risk. Remember, Forex trading involves significant risk and may not be suitable for all investors. Trading in a demo account allows you to learn the basics and develop your trading skills before you start trading with real money. Please note that this information is based on the details available as of the last update and may vary. Always refer to the official Magic Compass website for the most accurate and up-to-date information.

How Are You Protected as a Client at Magic Compass?

As a client at Magic Compass, you are protected in several ways:. Professional Client Classification Magic Compass offers the option to become a Professional Client. To qualify, you must meet two out of three criteria. You have carried out transactions of significant size on the relevant market at an average frequency of 10 per quarter over the previous four quarters. The size of your financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000. You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services. Negative Balance Protection For retail clients, Magic Compass provides Negative Balance Protection. This means that you are responsible for ensuring that your account does not fall into a negative balance. If it does, you will need to make additional payments to bring your balance back above zero. Information Provision Retail Clients are provided with more information regarding the Company’s fees, charges, commissions, and expenses. They also provide more information regarding their knowledge and experience in the Investment field so as to enable the Company to assess whether or not the investment service or product envisaged is appropriate for the Client. Best Execution The Company takes all the reasonable steps to ensure that a Retail Client’s order is executed as such in order to obtain the best possible results. Asset Management Solutions With MC Wealth, Magic Compass is able to accommodate all types of investors, thanks to their partnership with a highly experienced team using sophisticated trading technology coupled with AI-Powered algorithms. Credit Risk Management In order to maintain its Credit risk to the minimum, the Company is using EU credit institutions for safekeeping of funds and always ensures that the banks it cooperates with have high ratings based on top credit rating agencies (Moody’s, S&P or Fitch), it frequently monitors their compliance with the EU regulatory framework and diversifies the funds over several credit institutions thus mitigating the risk exposure efficiently. Please note that by becoming an Elective Professional client, you will lose some protections afforded to Retail Clients. For example, you will not be eligible to seek the services of the Investor Compensation Fund and may not be eligible for compensation under its protection and the Cyprus Securities and Exchange Commission. Also, your losses can exceed your deposits.

Which Funding methods or Deposit Options are available at Magic Compass?

According to the official website of Magic Compass, a Cyprus-based forex and CFD trading provider, the broker offers two alternatives of fund deposit: Credit Cards and Bank Wire. Commission will not be charged from deposits. Therefore, do not hesitate to contact their support team for any enquiries. Credit Cards: The broker accepts Visa, Visa Electron, and MasterCard cards for depositing funds. The currency options are GBP, EUR, and USD. The service charges are 0% and the processing time is 2 hours. You can use the Fund Now button on their website to start your deposit. Bank Wire: The broker allows you to transfer funds from your bank account to your Magic Compass account via bank wire. The currency options are CHF, USD, and EUR. The service charges vary on the amount deposited and one to two work days is the processing time. You can also use the Fund Now button on their website to start your deposit. . I hope this information helps you understand the funding methods or deposit options available at Magic Compass. If you have any questions related to the debit/credit card transactions, please contact them via backoffice@magiccompass.com.

What is the Minimum Deposit Amount at Magic Compass?

Magic Compass is a Cyprus-based Forex and CFD trading provider that adheres to the high standards set by the CySEC financial authority. They offer a range of trading opportunities through the popular MT4 platform, catering to both beginner and professional traders. The minimum deposit requirement at Magic Compass is US$100. This means that traders are required to deposit at least $100 in their trading account to start trading with the broker. Magic Compass offers two alternatives of fund deposit: Credit Cards and Bank Wire. Commission will not be charged from deposits. Magic Compass provides investors with 3 different accounts:. Silver Account (initial minimum deposit of $100). Raw Spreads Account (initial minimum deposit of $5000). Gold Account (initial minimum deposit of $2500). The competitive low variable spreads and low commissions offered by Magic Compass make trading cost-effective. However, additional costs like inactivity fees and funding fees should be considered too for full pricing and fee structure. Please note that while Magic Compass is regulated by CySEC, it is not licensed by any Tier 1 regulator, which may raise concerns for some traders. Additionally, there have been reports of customer complaints regarding customer support response times and lack of communication in certain cases. Also, the broker doesn’t provide educational materials and there is no 24/7 support.

Which Withdrawal methods are available at Magic Compass?

Unfortunately, the specific withdrawal methods available at Magic Compass are not detailed in the search results. It’s recommended to visit the official Magic Compass website or contact their customer service for the most accurate and up-to-date information.

Which Fees are charged by Magic Compass?

Magic Compass, a Cyprus-based Forex and CFD trading provider, offers a range of services with associated fees. Here’s a detailed breakdown:. Trading Fees. Magic Compass charges fees primarily through the spreads on trades. These are variable and competitive, making trading cost-effective. Inactivity Fees. Additional costs such as inactivity fees may apply. Traders should be aware of these potential charges when not actively trading. Funding Fees. Funding fees may also be incurred. These are typically associated with the deposit and withdrawal of funds from the trading account. Professional Services. For professional traders, Magic Compass offers tailored trading services. These services are provided upon written request and may carry additional fees. It’s important to note that while Magic Compass strives to maintain low and competitive fees, all trading involves risk, and losses can exceed invested capital. Traders should ensure they fully understand the fee structure and the risks involved before engaging in trading activities. Please note that this information is based on available resources and may not be fully up-to-date or complete. For the most accurate information, it’s recommended to visit the official Magic Compass website or contact their customer service.

What can I trade with Magic Compass?

What can I trade with Magic Compass? Magic Compass is a forex broker that offers CFDs on various trading instruments, including currencies, metals, energy and spot indices. CFDs are contracts for difference, which allow you to speculate on the price movements of an underlying asset without owning it. You can trade with Magic Compass using their MetaTrader 4 or cTrader platforms, which are available for PC and mobile devices. With Magic Compass, you can trade over 15 forex currency pairs, such as EUR/USD, GBP/USD, USD/JPY and more. Forex trading is the largest and most liquid market in the world, with an average daily trading volume of over $5 trillion. You can benefit from tight spreads and fast order execution when you trade forex with Magic Compass. You can also trade CFDs on metals such as gold and silver, which are considered as safe-haven assets that tend to appreciate in value during times of uncertainty or inflation. Gold and silver prices are influenced by factors such as supply and demand, geopolitical events, central bank policies and market sentiment. You can trade CFDs on gold and silver with Magic Compass using their Raw Spreads Account or Gold Account. Another option is to trade CFDs on energy commodities such as oil and natural gas. Energy prices are affected by the production and consumption of fossil fuels, as well as the availability of alternative sources of energy such as renewable energy. Energy prices are also influenced by geopolitical tensions, environmental issues, weather conditions and market speculation. You can trade CFDs on oil and natural gas with Magic Compass using their Raw Spreads Account or Gold Account. Finally, you can trade CFDs on spot indices such as UK100, US500, FR40, GER30, JPN225, NAS100, US30 and HK50. Spot indices are based on the performance of a basket of stocks from a specific country or region. They reflect the economic health and outlook of a country or region’s stock market. Spot indices are traded over-the-counter (OTC), which means that there is no central exchange or clearing house involved in the transactions. You can trade spot indices with Magic Compass using their Raw Spreads Account or Gold Account. To learn more about what you can trade with Magic Compass in forex and other markets, you can visit their website. or read their account overview. You can also check out some reviews from other traders who have used Magic Compass.

Which Trading Platforms are offered by Magic Compass?

Magic Compass is a forex broker that offers two trading platforms: MetaTrader 4 and MCtrader. These platforms allow traders to access a variety of markets, such as forex, metals, energy, and spot indices. Magic Compass also provides different types of accounts, such as silver, raw spread, and gold accounts, to suit different trading styles and preferences. Additionally, Magic Compass offers a demo account for beginners to practice their skills and strategies. MetaTrader 4 is one of the most popular and widely used trading platforms in the world. It is a desktop-based platform that can be downloaded for free from the official website. MetaTrader 4 has many features and tools that enhance the trading experience, such as charting, indicators, expert advisors, automated trading, market news, and more. MetaTrader 4 also supports multiple languages and allows traders to customize their interface according to their needs. MCtrader is a mobile-based platform that can be accessed from any device with an internet connection. It is a stable and user-friendly app that allows traders to trade on the go with their preferred settings and features. MCtrader also supports social trading through ZuluTrade integration, which enables traders to copy the trades of other successful traders or share their own trades with the community. MCtrader can be downloaded from the official website. or from the App Store or Google Play. Magic Compass is an EU regulated broker that aims to provide its clients with best execution, negative balance protection, portfolio management solutions, and customer support. Magic Compass has been in operation since 2013 and has won several awards for its service quality and innovation. If you are interested in trading with Magic Compass, you can visit their website. or contact them via email or phone.

Which Trading Instruments are offered by Magic Compass?

Magic Compass, a regulated broker, offers a wide range of trading instruments. These include Contracts for Difference (CFDs) on various asset classes. Forex: Magic Compass provides access to the foreign exchange market, where traders can speculate on the price movements of different currency pairs. Metals: Traders have the opportunity to trade CFDs on various metals. This allows them to take advantage of price fluctuations in these commodities. Energy: Energy commodities, such as oil and gas, are also available for trading. These markets can be quite volatile, providing potential opportunities for traders. Spot Indices: Magic Compass offers CFDs on spot indices. This allows traders to speculate on the price movements of major global stock indices. In addition to these trading instruments, Magic Compass provides access to sophisticated trading technology coupled with AI-Powered algorithms. They offer the MetaTrader 4 and MCtrader platforms, which are known for their stability, advanced technology, and enhanced security. Magic Compass also offers different types of accounts, including the Silver Account, Raw Spread Account, and Gold Account. A demo account is available to help beginners learn the ropes. Please note that trading involves risk, and it’s possible to lose all of your invested capital. Always trade responsibly and make sure you understand the risks involved.

Which Trading Servers are offered by Magic Compass?

Magic Compass, a licensed Investment Firm regulated by the Cyprus Securities and Exchange Commission. , offers a range of services in the forex trading sector. The firm provides access to the award-winning MetaTrader 4 platform. , which is known for its user-friendly interface, various analytics, and trading tools. The firm offers two types of trading accounts: Standard Account and Raw Account. These accounts cater to different types of investors, providing them with the flexibility to choose an account that best suits their trading needs. In addition to forex trading, Magic Compass also allows trading in commodities and indices. This diversification of trading instruments provides traders with more opportunities to diversify their investment portfolio. Magic Compass also offers portfolio management services. This service is particularly beneficial for investors who prefer to have their investments managed by professionals. The firm also provides negative balance protection for retail clients. This feature protects traders from losing more than their invested capital, thus providing an additional layer of financial security. In conclusion, Magic Compass offers a comprehensive suite of forex trading services, making it a preferred choice for many traders. Its user-friendly platform, diverse trading instruments, and additional features like portfolio management and negative balance protection provide traders with a robust and secure trading environment.

Can I trade Crypto with Magic Compass? Which crypto currencies are supported by Magic Compass?

Magic Compass is a global trading platform with a regulated CYSEC license. It offers the opportunity to trade Contracts for Difference (CFDs) on forex, indices, precious metals, energies, and crypto. The trading platforms supported by Magic Compass Ltd include MetaTrader 4 and MCtrader. Customers can trade with a variety of assets such as Forex, Metals, Energy, and Spot Indices. However, the specific cryptocurrencies supported by Magic Compass are not explicitly mentioned in the available sources. It is recommended to visit the official Magic Compass website or contact their customer service for the most accurate and up-to-date information. Please note that trading involves risk and it’s possible to lose all of your invested capital. It’s important to understand the risks involved and consider your level of experience before engaging in trading activities. In the context of forex, Magic Compass offers over 30 Forex currency pairs. They provide best execution and tight spreads. The required margin for forex trading is calculated based on the trade size, account currency exchange rate, and leverage. For example, if someone bought 1 lot of EURUSD at 1.13686, the required margin would be: 11000001.13686/20=5684.3 (USD), assuming the currency of the account is in USD. Remember, the forex market is the largest, most liquid market in the world with an average trading volume in excess of $5 trillion per day. It offers countless trading opportunities every second. In conclusion, Magic Compass provides a wide range of trading opportunities including forex and potentially crypto. However, for the most accurate information regarding the specific cryptocurrencies supported, it’s best to directly contact Magic Compass.

What is the Leverage on my Magic Compass Trading Account?

Magic Compass offers a variety of trading accounts, each with different features and degrees of flexibility. The leverage on these accounts can vary. For instance, the Silver Account, Raw Spreads Account, and the Gold Account offer leverage options of 1:5, 1:10, and 1:20. However, it’s important to note that all of Magic Compass’s accounts have a leverage ratio of 1:20 in the context of forex. This means that for every unit of currency you have in your account, you can control 20 units in the market. Leverage is a powerful tool in forex trading as it allows traders to control larger positions with a smaller amount of capital. However, it’s crucial to remember that while leverage can magnify profits, it can also amplify losses. Therefore, it’s essential to use leverage wisely and consider the risks involved. In addition to the leverage options, Magic Compass accounts also offer other features such as different initial minimum deposit requirements, margin requirements to open a lock position, and various trading instruments. For example, the Silver Account requires an initial minimum deposit of 100 units of currency (USD/EUR/GBP), while the Raw Spreads Account and the Gold Account require 5000 and 2500 units respectively. Moreover, Magic Compass also offers a Professional Client account for traders who meet certain criteria. This account offers different protections and requirements compared to the standard accounts. In conclusion, the leverage on your Magic Compass Trading Account can vary depending on the type of account you have. It’s always a good idea to review the features and requirements of each account type to choose the one that best suits your trading needs and risk tolerance.

What kind of Spreads are offered by Magic Compass?

Magic Compass, an EU regulated broker. , offers a range of spreads across its three different account types. Silver Account: The Silver Account, which requires an initial minimum deposit of 100. , offers a spread for EURUSD of 1.2 pips. Raw Spreads Account: The Raw Spreads Account, requiring an initial minimum deposit of 5000. , offers a significantly lower spread for EURUSD, starting from just 0.1 pips. Gold Account: The Gold Account, with an initial minimum deposit requirement of 2500. , offers a spread for EURUSD of 0.9 pips. These accounts cater to a variety of investors, from those just starting out in the forex market to more experienced traders looking for raw spreads. The account currencies are USD, EUR, and GBP, and the maximum leverage offered is up to 1:20. It’s important to note that spreads can be influenced by a number of factors, including market volatility and liquidity. Therefore, traders should consider these factors when choosing an account type. Magic Compass’s offering of competitive spreads, particularly with the Raw Spreads Account, demonstrates their commitment to providing a fair and transparent trading environment for their clients. This, coupled with their regulatory status. , makes them a strong choice for those looking to trade in the forex market. Please note that trading forex involves risk, and it’s important to understand these risks before opening an account. Always consider your personal circumstances and financial position before making any investment decisions.

Does Magic Compass offer MAM Accounts or PAMM Accounts?

Magic Compass, a platform in the Forex market, offers a variety of account types to cater to different levels of trading experience. However, based on the information available, it does not appear that they offer either MAM (Multi-Account Manager) or PAMM (Percentage Allocation Management Module) accounts. The types of accounts offered by Magic Compass include the Silver Account, Raw Spreads Account, and the Gold Account. Each of these accounts has unique features and degrees of flexibility, allowing traders to choose the one that best suits their trading style and experience level. In addition to these, Magic Compass also provides asset management services through MC Wealth, which utilizes a sophisticated hedge fund algorithm for trading on multiple asset classes. This service is designed for investors of varying levels, including beginner, advanced, and premium investors. While MAM and PAMM accounts are not explicitly mentioned, the services offered by Magic Compass, particularly through MC Wealth, do align with some of the features typically associated with these types of accounts. For instance, they provide automated trading systems, risk management strategies, and access to professional traders and asset managers. However, it’s important to note that while MAM and PAMM accounts allow money managers to manage multiple accounts from a single interface, the services offered by Magic Compass may not provide this specific functionality. Therefore, if you’re specifically interested in MAM or PAMM accounts, it may be worth reaching out to Magic Compass directly for more detailed information. Please note that trading in the Forex market involves risk, and it’s possible to lose all of your invested capital. Therefore, it’s crucial to understand the features and risks associated with any type of trading account before you start trading.

Does Magic Compass allow Expert Advisors?

The search results do not provide specific information about whether Magic Compass allows Expert Advisors. However, it is known that Expert Advisors (EAs), also referred to as robots, are supplementary programs that can be activated or added to platforms like MetaTrader 4 (MT4) to automate the trading process and analysis. With the use of algorithms, EAs examine and analyze financial markets, searching for the best trading prospects. They are often used to automatically place and close trades, especially when it comes to multiple positions. They can send notifications to the trader or directly activate trading conditions like trailing stops and limits. Before using EAs, it’s important to ensure that they are enabled and configured according to your trading account. This can be done by using the “Auto Trading” button in the toolbar. To enable EAs and to configure them, select “Options” from the main menu “Tools”. From the Options window that pops up, go to the “Expert Advisors” tab and make sure “Allow automated trading” is ticked. It’s worth noting that even when this setting is deactivated, scripts and Expert Advisors may still seem active, but they will not be able to execute any trades. When in disabled mode, the analytic capabilities of the EAs can still be tested in real-time mode. To activate a particular EA, both the general auto trade settings and the settings of the EA itself need to be enabled. From the Options window, you can set under what conditions auto trading is enabled. If you don’t want your EAs to remain activated when you switch to another account, tick the first option: "Disable automated trading when the account has been changed". Similarly, you can disable it when you change your MT4 profile by selecting "Disable automated trading when the profile has been changed". In conclusion, while many brokers have integrated Expert Advisor into their trading platforms. , it’s unclear whether Magic Compass specifically allows the use of Expert Advisors. It would be best to reach out to Magic Compass directly for the most accurate information.

Does Magic Compass offer Copytrading?

Based on the information available, it is not clear whether Magic Compass offers copy trading. The search results do not mention Magic Compass in the context of copy trading. It is recommended to directly check the official website or contact Magic Compass for the most accurate and up-to-date information. Copy trading is a popular feature offered by many forex platforms, allowing users to automatically replicate the trades of experienced investors. However, the availability of this feature can vary between different platforms.