MRG Information
MRG is a brokerage offering many trading assets, including forex pairs, commodities, and indices. It offers four different account types with competitive spreads starting at 0.8 pips, and high leverage up to 1:500 through the trade on the Metatrader4 platform. However, it is not regulated.
Pros and Cons
Is MRG Legit?
MGR is not regulated by any major financial authorities, meaning there is no guarantee that it is a safe platform to trade with.
What Can I Trade on MRG?
MRG offers many market instruments, primarily focusing on forex and CFDs (Contracts for Difference). Also, CentralFx Markets offers CFDs on various assets, including stock indices, commodities, cryptocurrencies, and more.
Account Types
MRG offers four account types, including the Basic account, Premium account, Sharia account, and Infinite account. You can refer to the table for details.
MRG Fees
MRG provides different spreads and commissions based on the selected account type.
For the Basic account, the spread starts from 2 pips, with no commissions.
The Premium account features a spread starting from 0.8 pips, coupled with a $10 commission per lot.
The Sharia account also has a spread starting from 0.8 pips, with a $20 commission per lot.
Leverage
MRG offers different leverage options across its account types. The Basic account provides a high leverage of 1:500, allowing traders greater position control. Premium, Sharia, and Infinite accounts offer a leverage of 1:200, balancing risk and opportunity.
Trading Platform
Deposit and Withdrawal
MRG's minimum deposit requirements vary, with the Basic account setting the entry point at $50, the Premium account at $300, the Sharia account at $3,000, and the Infinite account requiring a substantial $50,000 minimum deposit. However, the fees of deposit and withdrawal are not mentioned.
