Broker Review

MGC Logic Review

MGC Logic Review

Details

Broker MGC Logic
Website URL https://mgclogic.com/
Founded 2019
Headquarters 8 Capthall, Roseau Valley, Commonwealth of Dominica, 0052
Support Number +44 2080 - 894010
Support Types phone , email
Languages English
Trading Platform Web Platform
Minimum 1st Deposit $250
Minimum Trade Amount 0.01
Maximum Trade Amount different for each contract
Bonus Deposit bonus
Leverage 1:5
Spread floating
Free Demo Account Open Demo
Fees Yes
Account Types basic , bronze , silver , gold , platinum
Deposit Methods debit/credit card , wire transfer , e-wallets
Withdrawal Methods debit/credit card , wire transfer , e-wallets
Number of Assets 32 cryptocurrency contracts
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 90
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General Information

A cryptocurrency brokerage company owned and operated by New Olympia Inc, MGC Logic is mainly focused on offering trading services related to crypto-assets. Traders who want to work with the company will be able to trade a wide variety of CFDs based on cryptocurrencies. There’s a growing tendency to move away from traditional exchange platforms, which is why brokers like MGC Logic came to life. In our current review, we’ll try to describe some of the most important features, in order to help people decide whether it’s worth to trade with this company.

Trading Platform

Clients who want to work with MGC Logic will be able to trade via a web-based platform that’s compatible with any type of device. There’s no installation required and access to the platform is possible as long as we have a browser available. Among the most important features, we must mention are TradingView Charts, Price Alerts, One-click Trading, Popularity Bar, Reports and Heatmap.

Charting is by far one of the most important features, given that traders will get access to plenty of tools they can use to analyze charts. With 9 different time frames, 7 chart types, indicators, templates and many drawing tools, this is where technical traders want to be. It may still be an inconvenience for traders who really want to use a software platform or a mobile app for their phone.

Cryptocurrency Trading

In terms of trading conditions for cryptocurrencies, there are 32 different cryptocurrency pairs available at the present time. Clients of MGC Logic can trade a few fiat-crypto pairs denominated in EUR, USD, and AUD. On top of that, there are plenty of cross crypto pairs to trade one crypto against others. OMG, XMR, STR, XRP, DASH, BCN, and ZEC are a few of the cryptocurrencies available other than BTC, ETH, and LTC.

Leverage is 1:2 or 1:5 depending on the cryptocurrency pairs, while position sizing goes as low as 0.03 for BTC pairs. The limit is set higher for cryptocurrencies that are cheaper. The bottom line is that clients can get involved even with smaller volumes. Spreads are ok, not too high, nor too low, while traders should not forget about the overnight swaps, which apply given that we’re dealing with CFDs.

Education

For traders who want to learn more about how to trade cryptocurrencies, the MGC Logic Trading Academy is where they can find a lot of information on that matter. Traders News, weekly market reviews and video chart analysis will help clients to get further insight into the latest market developments both from a technical and fundamental point of view. The company also offers access to trading signals, depending on what type of account a client holds.

Summary

MGC Logic is a cryptocurrency trading offer that comes with an interesting offer. Their main advantage is the wide coverage of cryptocurrency pairs, both fiat and cross, meaning traders will have many choices at their disposal. It’s up to each trader to consider whether these trading features are appropriate and whether they should work with MGC Logic.