Magic IFS Limited

The safety profile of Magic IFS Limited raises significant concerns. According to WikiFX data, the broker holds no valid forex trading licenses from any major financial authority, resulting in a 'Not Regulated' status. Furthermore, its WikiFX assessment score is 1.52, which reflects fundamental risks related to its regulatory standing. The complete absence of formal oversight means clients' funds are not protected by standard compensation schemes, rendering this a high-risk entity.

No. Magic IFS Limited is not a regulated broker. Despite being registered in the United Kingdom, a thorough check of its regulatory status reveals it does not hold any valid authorization from major financial bodies such as the UK's Financial Conduct Authority (FCA) or other reputable international regulators. This lack of credible oversight is a critical factor for any trader to consider.

The minimum deposit requirement depends on the account type. The Executive account requires $100 to start, the VIP account requires a $5,000 deposit, and the PRO account has a significantly higher entry requirement of $15,000. This tiered structure caters to traders with different capital levels.

The provided broker data does not explicitly specify the trading platforms offered by Magic IFS Limited. Therefore, it is not possible to confirm support for MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms at this time. Prospective clients should verify the available software directly with the broker.