Global Broker Regulation Inquiry App
WikiFX
gnsrael 
1-2 years
Is MagnetFX safe and legit?
Broker Issues
Regulation
07-29
United States
WikiFX
Reply
From my personal experience and research, I consider MagnetFX a legit broker. Being regulated by BAPPEBTI and ICDX means they operate under clear legal oversight. That said, I never take “safe” for granted—forex and commodity markets are volatile, so even with a regulated broker, I use stop-loss orders and careful position sizing to manage my risk.
Similar Questions
What are the cons of IUX?
Tom Rossito - Toronto
08-09
Is Admirals a legit broker?
Thanh Thao
08-10
Is CDO Markets regulated?
tabawan_dreamer
08-04
Is MMA FOREX regulated?
Vladimir
04-15
What particular advantages does Qian Kun Futures offer in terms of its available trading instruments and fee arrangements?
Ibgentle
07-12