Magic Compass
Regulatory Agencies
Magic Compass Review 2025: What Is Magic Compass ?
Magic Compass is a forex broker established in 2016 and headquartered in Limassol, Cyprus. Regulated by the Cyprus Securities and Exchange Commission (CySEC), Magic Compass operates under strict compliance standards that ensure the protection of client funds and ethical trading practices. The broker has built a solid reputation over its operational history, prioritizing transparency and security for its users. Its regulation by a respected authority adds a layer of trust and credibility, making it a viable choice for traders seeking reliable brokerage services in the forex market.
The broker offers a diverse range of trading instruments, including CFDs on over 20 forex pairs, metals, energy, and indices. Traders can utilize the popular MetaTrader 4 platform for desktop trading or the MCtrader app for mobile access, ensuring flexibility and convenience. Magic Compass provides responsive customer support via multiple channels, although it does not operate 24/7. With competitive spreads and features like Negative Balance Protection, the broker aims to enhance the trading experience for its clients, making it a notable option for those looking to trade in the forex market.
Is Magic Compass Safe and Regulated?
Magic Compass operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CySEC), a respected authority in the financial services sector. This regulation is pivotal, as it mandates strict compliance with established standards surrounding transparency, fund security, and ethical trading practices. By adhering to these stringent guidelines, Magic Compass reinforces its commitment to safeguarding client funds and fostering a fair trading environment.
The compliance framework established by CySEC encompasses various protective measures, including mandatory audits, client fund segregation, and adherence to Anti-Money Laundering (AML) regulations. Such measures are designed to mitigate risks associated with financial trading and ensure that investor interests are prioritized. For instance, the segregation of client funds from the broker’s operational capital is a critical aspect that protects investors’ assets in the event of financial difficulties faced by the broker.
Furthermore, Magic Compass enhances operational safety through the implementation of Negative Balance Protection. This feature serves as an essential risk management tool, preventing clients from incurring losses that exceed their initial deposits. As a result, traders can engage in the market with a greater sense of security, knowing that their financial exposure is limited.
Investor confidence is further bolstered by the transparency of Magic Compass’s operations. Regular disclosures and a responsive customer support framework demonstrate the broker’s commitment to accountability and effective communication. This approach not only addresses client concerns promptly but also fosters a trustworthy relationship between the broker and its clients.
While the regulatory framework and compliance measures are robust, it is crucial for potential investors to remain aware of any regional restrictions and the overall market environment. These factors can influence trading outcomes and should be considered carefully. Nevertheless, the regulatory oversight provided by CySEC, coupled with Magic Compass’s comprehensive compliance practices, positions the broker as a reliable option for traders seeking to navigate the forex market with confidence.
Magic Compass Licenses and Regulation Details
Comprehensive overview of regulatory authorities and their licensing status
Licenses Notes
Magic Compass is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 299/16. This regulation mandates adherence to strict compliance standards, ensuring transparency and security for client funds. CySEC requires periodic audits and the segregation of client funds from the broker’s operational capital, providing an essential layer of protection for investors. The implementation of Negative Balance Protection further enhances safety, preventing clients from incurring losses beyond their deposits. Overall, the regulatory oversight from CySEC establishes a framework that prioritizes investor interests within the trading environment offered by Magic Compass.
Is Magic Compass Legit or a Scam?
Safety Evaluation
Regulatory Impact and Risk Interpretation
The regulation by the Cyprus Securities and Exchange Commission (CySEC) imposes stringent compliance standards on Magic Compass, enhancing trader safety and trustworthiness. This oversight mandates regular audits, fund segregation, and adherence to ethical trading practices. Such measures protect clients’ interests, ensuring their funds are secure and handled transparently. The implementation of Negative Balance Protection further mitigates risks, preventing clients from incurring losses beyond their deposits. This regulatory framework provides a solid foundation for traders, enabling them to navigate the forex market with confidence and security. Overall, the robust compliance measures contribute to a reliable trading environment, fostering trust and accountability.
Should You Trade with Magic Compass? Key Pros and Cons Explained
A Balanced Overview of Magic Compass Review 2026: Regulated Forex Trading Broker’s Advantages and Risk Factors
Pros
- Regulated by the Cyprus Securities and Exchange Commission (CySEC)
- Offers competitive spreads starting from 0.1 pips
- Wide range of tradable assets including CFDs on Forex, Metals, Energy, and Indices
- Provides access to MetaTrader 4 and the MCtrader mobile app
- Negative Balance Protection safeguards clients from exceeding their deposits
Cons
- Maximum leverage of 1:20 may be lower than some competitors
- Customer support is not available 24/7
- Regional restrictions limit service availability in certain jurisdictions
- Withdrawal fees of 3.5% apply to all withdrawals
- No support for cryptocurrency trading
Magic Compass Complaints and User Reviews 2025: What Real Traders Say
Authentic User Feedback Based on Verified Trading Activity
I’ve been trading with Magic Compass for a while now and overall, I’m quite satisfied. The spreads are competitive, and I appreciate the variety of instruments available. The customer service could be a bit faster since they aren’t 24/7, but they are helpful when you reach them. The demo account feature was great for me as a beginner, allowing me to practice without risking my funds. The regulatory backing from CySEC gives me peace of mind as well.
Unfortunately, my experience with Magic Compass has been quite frustrating. I made a withdrawal request a few weeks ago, and it’s still pending. I understand they have a processing time, but this feels excessive. I’ve sent multiple emails but haven’t received a satisfactory response. It’s disappointing, especially since they are regulated by CySEC. I expected better service considering that.
Magic Compass is okay, I guess. The platform is easy to use, and I like the trading tools they provide, especially the economic calendar. However, I’ve had mixed feelings about their customer service. Sometimes they are quick to assist, other times not so much. The fees are clear, but I wish they didn’t have the withdrawal fee. Overall, it’s a decent broker, but I think there’s room for improvement.
I’m really impressed with my experience at Magic Compass! Their platform is solid, and I love the mobile app for trading on the go. I’ve found the spreads to be quite favorable and the negative balance protection is a big plus for me. I feel secure trading here, especially knowing they are regulated by CySEC. I also appreciate the educational resources they offer. Highly recommend it!
Magic Compass Trading Platforms and Market Instruments
Trading Platforms
How Magic Compass Review 2026: Regulated Forex Trading Broker Delivers Secure and Efficient Trading Access
- Customizable interface
- Over fifty pre-installed technical indicators
- Three different chart types
- Nine time frames
- Seamless trading on mobile devices
- Retains powerful features from MT4
- Flexible trading anytime and anywhere
- User-friendly interface
Exploring Magic Compass Trading Ecosystem and Supported Markets
Magic Compass offers a robust trading ecosystem that includes a variety of financial instruments, primarily focusing on CFDs across multiple asset classes. Traders can access over 20 forex pairs, metals like gold and silver, energy contracts including oil and natural gas, and spot indices. This diverse range enables market participants to explore various trading opportunities while benefiting from competitive conditions. The trading platforms available, such as the widely used MetaTrader 4 and the mobile-friendly MCtrader app, ensure both flexibility and accessibility. The technical capabilities of these platforms are designed to support efficient trading, featuring fast execution speeds and secure encryption to protect user data. Additionally, the platforms facilitate automated trading through Expert Advisors (EAs) and API integrations, enhancing overall trading strategies. By integrating Copy Trading, Magic Compass allows users to replicate the strategies of successful traders, promoting collaborative investment techniques. The broker’s commitment to safety is evident through its compliance with the strict regulations set forth by the Cyprus Securities and Exchange Commission (CySEC), incorporating measures like Negative Balance Protection and fund segregation to safeguard client assets. Overall, Magic Compass provides a comprehensive trading environment that balances innovation with a strong emphasis on client security and transparency.
Magic Compass Account Types and Minimum Deposit
Magic Compass provides a selection of account types tailored to various trading needs, including the Silver Account, Gold Account, and Raw Spread Account. The Silver Account, designed for beginners or those preferring a low-risk approach, requires a minimum deposit of $100. It offers leverage of up to 1:20 and allows for market execution without requotes, facilitating seamless trading of CFDs across forex, metals, energy, and indices. In contrast, the Gold Account is aimed at more experienced traders with a minimum deposit of $2500, providing the same benefits as the Silver Account but without any commission fees. The Raw Spread Account, intended for advanced traders, necessitates an initial deposit of $5000 and features tighter spreads along with a commission structure, allowing for more precise trading conditions. All account types benefit from negative balance protection, ensuring that traders’ losses do not exceed their deposits, and are supported by the reputable regulation of the Cyprus Securities and Exchange Commission (CySEC). Additionally, leverage options across account types range from 1:5 to 1:20, accommodating different trading strategies and risk appetites. Overall, Magic Compass’s account offerings cater to a diverse range of traders, promoting an inclusive trading environment while maintaining high standards of security and compliance.
Magic Compass Fees, Spreads, and Withdrawals
Cost Transparency, Trading Spreads, and Funding Efficiency
Magic Compass maintains a transparent and competitive fee structure designed to cater to various trading needs. The broker offers floating spreads that can start from as low as 0.1 pips, providing traders with the ability to benefit from favorable market conditions. For account types such as the Silver and Gold Accounts, there are no commissions charged, while the Raw Spread Account does incorporate a commission structure, which is typical for accounts aimed at more experienced traders. However, the specific commission details for the Raw Spread Account are not disclosed, allowing for flexibility based on trading volumes. When it comes to deposit and withdrawal processes, Magic Compass primarily utilizes bank wire transfers, supporting currencies like CHF, USD, and EUR. Notably, there is a minimum withdrawal amount set at EUR 50, and a fee of 3.5% is applied to withdrawals to cover transaction costs. Clients can expect their deposit and withdrawal requests to be processed within 1-2 working days, although delays may extend this timeframe, particularly for deposits due to verification procedures. Additionally, traders should be aware that overnight or swap fees apply, although specific rates are not provided. Transparency is a key aspect of Magic Compass’s operations, and clients are encouraged to familiarize themselves with the potential for hidden costs, including any inactivity fees that may be applicable. Overall, the broker’s commitment to clarity and security reinforces its reliability as a trading partner in the forex market.
Deposit and Withdrawal Methods
Secure, Transparent, and Efficient Fund Transactions
Deposit Method
- Credit/Debit Cards -
- E-Wallets -
- Bank Transfers 1-2 working days
- Cryptocurrencies -
Withdrawal Method
- Credit/Debit Cards -
- E-Wallets -
- Bank Transfers 1-2 working days
- Cryptocurrencies -
Deposit and Withdrawal Notes
Magic Compass provides a streamlined process for managing deposits and withdrawals, primarily utilizing bank wire transfers for both operations. Clients can deposit in major currencies such as CHF, USD, and EUR. The minimum deposit amount is set at $100 for the Silver Account, $2500 for the Gold Account, and $5000 for the Raw Spread Account. When it comes to withdrawals, a minimum amount of EUR 50 is required, alongside a fee of 3.5% applied to each withdrawal to cover transaction costs. Generally, deposit and withdrawal requests are processed within 1-2 working days, though delays may occur, particularly for deposits due to potential verification processes. If all necessary documentation is submitted promptly, withdrawal requests can potentially be processed on the same day during standard business hours. Verification requirements include providing necessary documentation to comply with KYC regulations, which is essential for securing client funds and ensuring a safe trading environment. While Magic Compass does not support e-wallets or cryptocurrencies, it maintains a focus on secure and efficient banking methods. Clients are advised to be aware of any regional restrictions that may apply based on their location, as some jurisdictions may not be eligible for services offered by the broker.
Safety & Regulation FAQs
Expert Answers on Magic Compass Review 2026: Regulated Forex Trading Broker’s Safety and Regulation
How does Magic Compass ensure the safety of client funds?
Magic Compass safeguards client funds through strict regulatory oversight by the Cyprus Securities and Exchange Commission (CySEC). This includes mandatory fund segregation, ensuring that client assets are kept separate from the broker's operational capital. Such measures are essential for protecting investor interests and enhancing overall financial security. Additionally, the implementation of Negative Balance Protection mitigates the risk of clients incurring losses that exceed their deposits, thereby reinforcing the broker's commitment to safety and compliance.
What regulatory body oversees Magic Compass's operations?
Magic Compass is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is recognized for enforcing rigorous compliance standards within the financial services sector. This regulatory framework mandates transparency, ethical trading practices, and the protection of client funds, thereby establishing a trustworthy environment for traders. Compliance with CySEC regulations is a cornerstone of Magic Compass's operational integrity, ensuring accountability in its financial dealings.
Does Magic Compass provide any protection against negative balances?
Yes, Magic Compass offers Negative Balance Protection, which is a critical feature designed to prevent clients from incurring losses that exceed their initial deposits. This risk management tool enhances client security by ensuring that traders have a safety net in volatile market conditions. By implementing such protective measures, Magic Compass demonstrates its commitment to fostering a fair and secure trading environment for all its users.
What are the implications of being regulated by CySEC for Magic Compass clients?
Being regulated by the Cyprus Securities and Exchange Commission (CySEC) provides Magic Compass clients with a layer of protection and assurance regarding the broker's practices. This regulation requires adherence to strict compliance standards, including regular audits and transparency in operations. Such guidelines are designed to protect investors' interests and ensure ethical trading practices, ultimately fostering trust and credibility in the services provided by Magic Compass.
How does Magic Compass handle withdrawals and what fees are associated?
Magic Compass handles withdrawals primarily through bank wire transfers, requiring a minimum amount of EUR 50 for processing. A fee of 3.5% is applied to all withdrawals to cover transaction costs. The processing of withdrawal requests typically occurs within 1-2 working days, although delays may arise due to verification procedures. Clients are encouraged to be aware of these fees and the potential for processing delays, reinforcing the broker's commitment to transparency in its financial operations.
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