Mugan Markets offers trading services through 5 live accounts [Classic ECN, Trader ECN, Custom ECN, Classic Cent, Trader Cent] with a $50 minimum deposit for all except the Custom one.
The maximum leverage across all accounts is 1:500, and the minimum order size is 0.01 lots.
Mugan Markets Company Information & Regulation
Mugan Markets is operated by Meydan Ltd and is headquartered in Marshall Islands. The company is incorporated and registered in Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960. This broker was founded in 2015.
Per our investigations, the discussed brokerage is not regulated or supervised by any financial authorities.
Mugan Markets Broker Summary of Key Specifics
Here's a quick overview of the company's notable features and parameters as a Forex broker:
Broker | Mugan Markets |
Account Types | Classic ECN, Trader ECN, Custom ECN, Classic Cent, Trader Cent |
Regulating Authority | None |
Based Currencies | USD, EUR, ZAR, GBP, BTC, NGN, GHS, and KES |
Minimum Deposit | $50 |
Deposit Methods | Crypto, Credit/Debit Cards, Bank Wire Transfers |
Withdrawal Methods | Crypto, Credit/Debit Cards, Bank Wire Transfers |
Minimum Order | 0.01 |
Maximum Leverage | 1:500 |
Investment Options | PAMM |
Trading Platforms & Apps | MetaTrader 4 |
Markets | Forex, Metals, Crypto |
Spread | Varies |
Commission | Varies |
Orders Execution | N/A |
Margin Call / Stop Out | N/A |
Trading Features | None |
Affiliate Program | Yes |
Bonus & Promotions | Deposit Bonus |
Islamic Account | No |
PAMM Account | Yes |
Customer Support Ways | Email, Live Chat, Ticket |
Customer Support Hours | N/A |
Account Types Overview And Comparison
Mugan Markets provides 5 real account types for trading in financial markets. The table below discussed these accounts:
Account Type | Classic ECN | Trader ECN | Custom ECN | Classic Cent | Trader Cent |
Max. Leverage | 1:500 | ||||
Account Currency | USD, EUR, ZAR, GBP, BTC, NGN, GHS, and KES | USD, EUR, ZAR, GBP, NGN, GHS, and KES | USD, EUR, ZAR, GBP, NGN, and KES | USC (USD cents) | USC (USD cents) |
Min. Deposit | $50 | $10,000 | $50 | ||
The broker also provides a demo account for practice trading.
Mugan Markets Broker Account Opening and Identity Verification
The first step towards trading with a brokerage is opening an account on it. For the discussed broker, we will guide you in the next sections.
Signing Up
- Visit the official broker website;
- Click on the "Open Live Account" button;
- Provide your name, email address, country, and phone number in the form;
- Choose the account currency, type, and leverage;
- Set a strong password and confirm the statements;
- After clicking on "Submit", check your inbox to verify your email;
- Now, you have created an account on the broker.
Identity Verification
Complete your profile by providing additional personal details and upload proof of identity and proof of address on the website to verify your account.
What Trading Platform Is Available on Mugan Markets?
The broker offers the popular MetaTrader 4 platform and provides access to MT4 indicators and other technical objects. The terminal is available on these operating systems:
Commissions and Spreads Details
Mugan Markets has set a specific commission/spread structure for each account type:
Account Type | Spread | Commission |
Classic ECN | From 0.9 Pips | Zero |
Trader ECN | From 0 Pips | $16 Per Lot |
Custom ECN | Custom | |
Classic Cent | Zero | |
Trader Cent | 16 USC Per Lot |
The broker does not provide any details regarding other fees and costs.
Available Payment Options in Mugan Markets
The brokerage supports 3 payment methods for deposits and withdrawals:
- Credit/Debit Cards: VISA and MasterCard
- Bank Wire Transfer: Via bank accounts
- Cryptocurrencies: BTC, ETH, USDT, USDC, and BNB
Copy Trading And Other Passive Earning Services
Based on our investigations of the broker, the only passive earning option available is the PAMM service. Traders can deposit their funds into PAMM accounts and earn profits based on the manager's strategies.
Are There Any Available Bonuses?
Mugan Markets offers a 100% deposit bonus of up to $20,000, credited instantly to the client's account. Key Points About The Bonus:
- Minimum deposit to qualify is $250;
- Bonus is withdrawable per T&Cs (a unique feature compared to many brokers);
- Not available on Cent accounts.
We will update this page in case of any changes, new promotions, etc.
Mugan Markets Support Services
The broker provides customer support through 2 channels:
- Email: support@muganmarkets.com
- Ticket System: Available on the broker's website
As opposed to most other brokerages, there is no live chat option available for contacting the support team in Mugan Markets. Also, no data is provided regarding the schedule.
Trust Scores and Evaluations
Lower than average reviews and scores have been submitted on Mugan Markets' Trustpilot and ScamAdviser pages. Here is an overview:
- Trustpilot: 2.3/5 with 70+ reviews
- ScamAdviser: 21/100 Trustscore, 2.3/5 user reviews with 70+ ratings
Conclusion And Final Words
Mugan Markets provides access to 200+ financial products across 3 markets [Forex, metals, crypto].
The broker has received a 2.3/5 score on "Trustpilot" with 70+ user reviews. "ScamAdviser" has given a 21/100 Trustscore to the discussed brokerage.
