Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighTwo licences genuinely verified on the regulators' registers (CySEC 299/16 tier 2 and FSA Seychelles SD184 tier 3), but the flagship crypto exchange is unregulated and outside both licences.
Identity & transparency
6/10 · HighThe forex entities are transparent and registry-matched, but the deposit-taking crypto flagship at mcmarkets.com names no legal entity, jurisdiction or licence.
Withdrawals & conduct
5/10 · ModerateSeveral fund-integrity complaints (blocked withdrawals, unresponsive support, fees before payout) on an independent platform, but a modest, unconfirmed pattern amid mixed reviews and a broker that responds.
Reputation
5/10 · ModerateMixed: 40 reviews at 3.7 stars with about 15 percent one-star, low scores on a third-party directory, but genuine positive accounts and public complaint responses.
Website claims
5/10 · ModerateThe forex sites state their real licences accurately, but the crypto site makes unverified 100 percent reserves claims while hiding the operating entity and any regulation.
Operational history
3/10 · LowRoughly ten years of verifiable history: main domain registered 2015, CySEC authorised 2016. Longevity is a genuine mitigating factor.
Who they are
A quick desk file on the company behind the brand.
- Brand: MC Markets (the trading brand of the Magic Compass group).
- Legal entities: Magic Compass Ltd (Cyprus, HE341562) and Magic Compass Global Ltd (Seychelles, reg 8434985-1).
- Registered: Sarlo 9, Agios Athanasios, 4106 Limassol, Cyprus; and IMAD Complex, Ile Du Port, Mahe, Seychelles.
- Websites: magiccompass.com (CySEC site), magiccompassglobal.com (Seychelles CFD site), mcmarkets.com (crypto exchange).
- Licences: CySEC 299/16 (Cyprus, tier 2) and FSA Seychelles SD184 (offshore, tier 3), both confirmed on the official registers.
- Offers: Forex, metals, energies and index CFDs (MT4, MT5, WebTrader), plus crypto spot and perpetual futures up to 50x on mcmarkets.com.
- Not accepted: United States, Canada, Japan, Turkey, and sanctioned countries such as Iran, North Korea and Syria.
- Age claim: Established around 2016 (CySEC authorised 12 April 2016); main domain registered 2015.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Cyprus Securities and Exchange Commission (CySEC)
Financial Services Authority Seychelles (FSA)
Why we reached this verdict
How the evidence adds up.
We rate MC Markets high risk, not a confirmed scam, and here is the reasoning.
- Both claimed licences are real. We opened the CySEC register and saw Magic Compass Ltd, licence 299/16, status Authorised since 12 April 2016, with the approved domain www.magiccompass.com. We opened the Seychelles FSA securities dealer register and saw Magic Compass Global Ltd listed, with the contact email [email protected]. So this is a genuinely licensed group, not an impersonator.
- The catch is scope. The Cyprus licence covers only magiccompass.com, and the Seychelles licence covers securities dealing. Neither licence covers the flagship crypto exchange at mcmarkets.com.
- That crypto exchange offers perpetual futures with up to 50x leverage, takes deposits by crypto wallet and USDC, shows no legal entity, and names no regulator. It claims to be '100%+ reserves' backed but that is self asserted. This is the surface where most client money is at risk, and it sits outside any licence.
- Users report fund integrity problems. On an independent review platform, one trader said a large deposit could not be recovered after a year, another could not withdraw a small balance, and a third described repeated fees and checks blocking payout. Support was described as unresponsive. These are the failures that matter most.
- Balanced against that: roughly ten years of trading history, a mix of positive and negative reviews, the broker publicly responding to complaints, and no warning-list entry naming its own domains. That is why this is elevated risk, not a proven fraud.
- The published figure reflects an unregulated deposit-taking flagship and unresolved money-back complaints, layered on top of genuine but weak offshore protection.
Note on operating history: the 11.5-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1CySEC register shows Magic Compass Ltd, licence 299/16, status Authorised since 12 April 2016, approved domain www.magiccompass.com, Limassol address. Confirms a genuine tier 2 EU licence tied to the anchor domain.
Hard proofCySEC registerE2FSA Seychelles securities dealer register lists Magic Compass Global Ltd with email [email protected] and a Mahe address, confirming the SD184 licence is genuinely held by the anchor entity.
StrongFSA Seychelles registerE3The flagship mcmarkets.com is an unregulated crypto perpetuals exchange (up to 50x, USDC and crypto wallet deposits, Telegram support) that shows no legal entity and names no regulator, while stating it operates under the Magic Compass trademark.
StrongMC Markets websiteE4The crypto site advertises '100%+ reserves' with an 'independently verifiable on-chain' proof of reserves, an unaudited self assertion presented in place of any licence or named custodian.
ModerateMC Markets websiteE5Independent reviews of mcmarkets.com (40 reviews, 3.7 stars) include fund-integrity complaints: a large deposit not returned after a year, a small balance that could not be withdrawn, and repeated fees and checks blocking payout, alongside positive reviews.
ModerateTrustpilotE6Domain records: magiccompass.com registered 2015-02-26, mcmarkets.com 2018-03-15, magiccompassglobal.com 2024-01-10. The oldest domain plus the 2016 CySEC authorisation establish roughly ten years of operating history.
ModerateRDAP (Verisign)E7The broker's regulation page states CySEC licence 299/16 for Magic Compass Ltd and links to the CySEC register, matching what the register shows. Our stored status of 'noRegulation' is refuted.
ModerateBroker regulation pageE8The Seychelles brand site confirms Magic Compass Global Ltd, registration 8434985-1, Securities Dealer Licence SD184, address IMAD Complex, Ile Du Port, Mahe, matching the FSA register entry.
ModerateMagic Compass Global website
The other side
The strongest case in this broker’s favour.
The fair case in this broker's favour is real and we weighed it.
- Unlike most queue cases, the licences check out. Both the CySEC and the Seychelles FSA entries exist on the regulators' own registers and match the group's entities and domains.
- A clone of this brand does exist on other domains (for example magiccompassltd.com, registered in 2024). Magic Compass is the victim of that impersonation, not the impersonator. We did not import any clone findings.
- The FCA warning list does contain an 'MC Markets', but it names a different company, Markets Capital Solutions Limited, disclosed back in 2013. That is a name collision, not this operation.
- The group has genuine longevity: the main domain dates to 2015 and CySEC authorisation to 2016.
- Reviews are mixed rather than uniformly bad, the broker answers complaints publicly, and there are credible positive accounts of stable trading and payouts.
What would change this
What we would need to see to revise the verdict.
Our view would move in either direction on this evidence.
- Toward safer: the mcmarkets.com crypto exchange naming the exact legal entity that holds client funds, bringing it under a recognised licence, and a clear, independently audited proof of reserves.
- Toward safer: a sustained record of paid withdrawals on independent platforms and resolution of the current money-back complaints.
- Toward worse: a regulator warning naming magiccompass.com, magiccompassglobal.com or mcmarkets.com.
- Toward worse: a clustered spike of specific, checkable withdrawal-refusal or advance-fee reports across two or more independent platforms.
- Toward worse: the CySEC or FSA Seychelles licence being suspended, withdrawn or shown as expired.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CySEC register entry (Magic Compass Ltd, 299/16)
Cyprus regulator record: status Authorised, approved domain magiccompass.com.
FSA Seychelles securities dealer register
Open the Securities Dealer tab to find Magic Compass Global Ltd (SD184).
Broker regulation page
Where the group states its CySEC licence and links to the register.
Frequently asked questions
Quick answers about this broker’s safety.
Is MC Markets a scam?
We did not find proof of an outright scam. The Magic Compass group behind the brand holds two genuine licences we verified on the regulators' own registers. However, its flagship crypto exchange is unregulated and there are real complaints about withdrawals, so we rate it high risk.
Is MC Markets regulated?
Partly. The Cyprus entity Magic Compass Ltd holds CySEC licence 299/16 for magiccompass.com, and the Seychelles entity Magic Compass Global Ltd holds FSA securities dealer licence SD184. The crypto exchange at mcmarkets.com is not covered by either licence.
Can I withdraw my money from MC Markets?
Many users do, but several report the opposite: blocked withdrawals, unresponsive support, and repeated fees or documents demanded before payout. Test a small withdrawal before committing larger sums.
Is my money safe with MC Markets?
It depends where you deposit. The EU-regulated Cyprus arm offers investor compensation protection. The offshore Seychelles arm and the crypto exchange offer much weaker or no protection, and the crypto site does not disclose which company holds your funds.
Who owns MC Markets?
The brand is run by the Magic Compass group through Magic Compass Ltd in Cyprus and Magic Compass Global Ltd in Seychelles. The mcmarkets.com crypto exchange says it operates under the Magic Compass trademark but names no specific operating entity.
How old is MC Markets?
The group has roughly ten years of history. The main domain was registered in 2015 and the CySEC licence was granted in April 2016. The crypto exchange domain and the Seychelles brand domain are newer.
What is the Seychelles FSA SD184 licence worth?
It is a genuine offshore securities dealer licence, which we confirmed on the register, but Seychelles is a low-tier jurisdiction. It provides limited client protection and no meaningful compensation scheme compared with EU or UK regulation.
Is MC Markets a clone firm?
No. The group is the real, licensed operator. Clones of the Magic Compass brand exist on other domains such as magiccompassltd.com, but those are impersonators and are not this broker.
Is the mcmarkets.com crypto exchange safe?
It is the riskiest part. It offers up to 50x leverage, takes crypto and USDC deposits through a wallet, shows no legal entity, and is not under either of the group's licences. Its proof of reserves claim is self asserted.
What should I check before depositing with MC Markets?
Confirm licence 299/16 on the CySEC register, identify exactly which entity would hold your funds, avoid high leverage, and test a full withdrawal with a small amount first.
What do I do if I was scammed by MC Markets?
Gather your deposit records, tickets and any fee demands. Complain to the relevant regulator (CySEC for the Cyprus entity, the Seychelles FSA for the offshore entity), your card issuer or bank for a chargeback, and local police or a financial ombudsman.
Does any regulator warn against MC Markets?
We found no regulator warning naming this operation's own websites. An FCA warning-list entry for 'MC Markets' refers to a different, older company and is not this broker.
What we recommend
The practical takeaway from everything above.
Treat MC Markets as high risk and verify before depositing.
- Only the Cyprus entity at magiccompass.com is EU regulated. If you trade there, confirm licence 299/16 on the CySEC register yourself.
- Understand that the crypto exchange at mcmarkets.com is not covered by either licence and does not disclose who holds your funds.
- Avoid large deposits and high leverage until you have tested a full withdrawal with a small amount.
- Keep records of deposits, tickets and any request for extra fees to release funds. A demand to pay before you can withdraw is a red flag.
- Prefer the EU-regulated route over the offshore or crypto surface if protection matters to you.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 29, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.