MGM Global Review – Why should you trust this broker?
General Information & First Impressions of MGM Global
MGM Global is a brokerage that provides various trading and investing services to clients around the globe. Its main upsides are a streamlined and straightforward customer experience, powerful features, and a long-term orientation. As you know, these are all significant advantages for traders, making the broker attract a good bit of attention. Our MGM Global review will go over its most important conditions and present the broker.
Of course, we first need to mention the fact that the broker offers its assets as CFDs. There are some strange misconceptions about that being negative, but we consider it a huge plus. Namely, a CFD-based brokerage structure allows traders numerous benefits, such as a wider asset choice pool.
However, that’s not nearly the end, as CFDs by themselves lower costs significantly. They allow the broker to structure service costs via spreads, lowering trading expenses for the vast majority of traders. Additionally, the broker doesn’t add any extra fees, so there are no added costs to using it.
And one thing we haven’t mentioned in our MGM Global review is the broker’s versatility. It offers seven different accounts, with two VIP options, covering every group of traders. The broker is also fairly accessible, only requiring a $250 initial deposit.
Lastly, the website is streamlined and does a great job of guiding users through the service. You won’t ever feel lost or confused about what you get, which is a significant plus. That also goes for the platform, which the broker created specifically tailored to the service. Needless to say, the trading software enriches the experience significantly.
As such, the broker covers all the bases and, even at a glance, looks fantastic. It made us eager to continue exploring for our mgmglobal.com review.
Account and Fund Security
Before we carry on with the other service details, we need to run a security checkup. Sadly, the online brokerage world is dangerously littered with scammers, to the point where users need to practice extreme caution. That’s because even brokers that aren’t scams employ borderline malicious marketing and business tactics.
Of course, that makes the customer experience much more miserable and makes it much more difficult to engage with a broker. It also creates a bit of a minefield, especially for newer traders who may not recognize scam warning signs. Altogether, the situation isn’t great.
That’s why we’ve chosen this part of our MGM Global review to analyze its security. We also recommend doing your own research, as all we’re doing is providing a baseline.
However, we’re glad to say that, during our investigation, the broker didn’t show any malicious intent. Furthermore, it has numerous reassuring features and qualities.
Let’s start with the fact that it covers all basic external security requirements. For example, it employs encryption on all of its web addresses, has authenticators for accounts, and practices fund segregation. In other words, hackers will have a hard time reaching your account, and if they do, they’ll be faced with an authenticator. Even if the broker suffers a breach, your funds will be safe since they are separate from the company’s.
Additionally, the brokerage operates from the UK. As you know, that means it’s under the eye of a lot of the world’s leading regulators. In other words, that further lowers the chance of anything malicious going on. If the broker were fraudulent, it would be very detrimental for it to put in all that effort to make customers feel safe. As such, we’re entirely confident that you won’t face any security issues at all.
Account Info at MGM Global
As we said earlier in our mgmglobal.com review, the broker offers its users seven different accounts. They rank from Bronze to VIP +, and each requires users to reach a particular level of deposits. We like that structure, as it effectively reduces the account costs to nothing.
Of course, we aren’t going to pretend that everyone can easily meet the higher account requirements. That’s why we need to judge the experience at each tier separately, as that’s the only way to cover the full spectrum of traders.
However, the broker makes that fairly easy, as every account significantly outperforms its price point. Even the baseline account has one-on-one lesson rights, which is something you usually get much later on. As such, it’s an invaluable tool for newer traders, as personalized lessons are the quickest way to learn.
Additionally, the cheapest account itself is a powerful tool even without the personal manager and the lessons. Namely, it has access to all of the broker’s baseline services and assets and allows trading at lower spreads than most accounts in its price tier. As such, it offers a competitive trading experience, even if you want to deposit the bare minimum.
However, if you go beyond that, the broker is quite generous. It includes personalized alerts right at the second account, guided trading sessions next, and much more later on. You can even get boosted leverage if you want to maximize the use of your profit.
Additionally, there’s an extremely useful bonus that you can use to double your initial deposit. The broker will double whatever you deposit, so higher initial investments are encouraged.
Altogether, account diversity meaningfully contributes to the service. Here are the exact details of the accounts on mgmglobal.com:
Bronze
Minimum deposit requirement: $250 Dedicated Account Manager Introduction to Trading Platform Guidance on Risk Management Strategies Educational Sessions on Fundamental Market ConceptsSilver
Dedicated Account Manager Introduction to Trading Platform Guidance on Risk Management Strategies Foundational Market Education Sessions Customized Trading AlertsGold
Dedicated Account Manager Introduction to the Trading Platform Strategies and Guidance for Risk Management Fundamental Market Education Sessions Personalized Trading Alerts Risk-Free Trades Hands-on Guided Trading SessionsPremium
Assigned Personal Account Manager Introduction to the Trading Platform Guidance on Risk Management Strategies Fundamental Market Education Sessions Customized Trading Alerts Trades with Zero Risk Hands-on Guided Trading Sessions Qualify for the MGM Global Managed Account ServicePlatinum
Dedicated Account Manager Introduction to the Trading Platform Assistance with Risk Management Strategies Foundational Market Education Sessions Customized Trading Alerts Trades without Risk Interactive Guided Trading Sessions Qualify for the MGM Global Managed Account Service Enhanced Leverage OpportunitiesVIP
Become a Member of the Broker’s Elite VIP Trading Club to Enjoy Exceptional Returns on Your Investment! Benefit from unrestricted entry to the brokerage’s esteemed trading team within a private Telegram group. The top-notch trading experts of the broker will share trades, trading strategies, and risk management strategies. Gain a competitive edge that only a select few traders possess.VIP +
Invest Today, Benefit Tomorrow! Investors with Managed Accounts witness exceptional returns on their investments. Presently, the broker extends an opportunity for you to explore the Managed Account services firsthand with a 30-day trial period. If you seek a remarkable return on investment (ROI), schedule a consultation with your dedicated Account Manager to experience the benefits of the Managed Account.
MGM Global’s Trading Platform
As previously mentioned in our review of MGM Global, the broker utilizes an exclusive platform. It offers a fantastic service, especially when you account that you get double funds from the broker’s bonus.
The platform is a major tool for traders that want to push their advantages to the maximum. It presents the custom and personalized signals you get from the broker while also being an invaluable analysis tool. You’ll get multiple time frames, numerous charting types, and probably more indicators than you’ll ever use. So even at a glance, you’ll be able to spot the data you want, provided you set your parameters properly.
Essentially, the platform offers everything industry-standard software does and more. Additionally, it does so through a much more friendly user interface, leading to much less user frustration.
Altogether, the platform is a fantastic tool, and it complements the rest of the service perfectly.
MGM Global Review: Conclusion
As we said numerous times in our MGM Global review, the brokerage offers a fantastic service across all levels. It’s versatile, with numerous asset types, numerous choices in each type, and seven accounts. Its bonus guarantees a positive initial experience, which you can then take to become an entirely self-sufficient trader. It’s also secure, without any indication of malicious behavior toward its customers.
If you’re in search of a new broker, we’d wager MGM Global is up your alley. Give it a shot, as we’re sure you’ll be satisfied.
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