Wikilix
MC900 logo

MC900

Regulated
Cyprus
,
Last Updated:
78/100
Overall Score

Trading Conditions

Min Deposit:
USD50
Max Leverage:
N/A
Account Types
ECN AccountNo Swap AccountStandard Account

User Reviews

Total Reviews
This Month
Avg Rating

Funding Methods

4 methods

Credit/Debit Cards (Visa/Mastercard)

credit card
Instant
Fee:
Free
Fee:
Free

Bank Transfer (Wire/SWIFT)

bank transfer
2 days
Fee:
Free
Fee:
A$20

E-Wallets (Skrill, Neteller, PayPal, FasaPay)

e wallet
Instant
Fee:
Free
Fee:
Free

Other (POLi, BPay, Union Pay)

other
Instant
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 82%, 2: License 73%, 3: Software 0%, 4: Spread 0%, 5: Account Type 0%, 6: Symbol 0%
Regulation
82%Excellent
License
73%Good
Software
0%Poor
Spread
0%Poor
Account Type
0%Poor
Symbol
0%Poor

Company Information

Full Name:Magic Compass
Founded:N/A
Headquarters:Cyprus
Enterprise Offices:N/A

Customer Support

Phone:
Live Chat:
business_hours
Response Time:
Languages:
English
Scroll Down
Editorial review
Updated

Broker Summary

What Wikilix has recorded about MC900: its history, the licences it holds, its trading conditions and its fees.

Introduction and Overview

In the rapidly integrating and sophisticated realm of financial trading operations, choosing a trustworthy broker becomes the key imperative for traders wishing to successfully and comprehensively navigate financial markets and opportunities. MC900 markets itself as a broker for financial trade and as a financial services firm that provides traders with access to various financial instruments and trade platforms. But even though MC900 operates online, very limited and trustworthy information is available about this firm.

This paper will try to offer a full discussion on MC900 based on secondary sources, to draw important points such as compliance, market conditions, charges, and user friendliness. The official site of the broker is accessible, but it’s quite limited, and so it’s necessary to consult other references to learn important aspects about MC900.

Background and History

There has been limited data provided about the establishment and development stages of the company, referred to by the name MC900. It has been suggested from the external sources that the broker has remained active for around 2 to 5 years, yet there has been no specific information released about the establishment and key developments in the company.

As there are no credible records available to support the necessary information, the trader/ investor is urged to tread with care before interacting with the services of MC900. Lack of a clear company history stands out as a significant missing piece that contributes to the reliability assessment of the broker.

Important Attributes and Offerings

MC900 allegedly provides account registration processes that include identity verification, which is aimed at meeting regulatory requirements. But this has not been confirmed. The broker is said to facilitate deposits using traditional money and cryptocurrency such as Bitcoin and USDT, though there is no information regarding the safety of deposits.

Details regarding the trading products that can be traded using the MC900 are not revealed in the public domain. Likewise, information on the types of trading accounts that can be opened, the trading platforms that are supported, or any additional tools such as learning centers or market analysis support is not explicitly available.

The above-mentioned factors, though essential

The aspect of regulation is also a key consideration in determining the reliability of any trading broker. For MC900, to the best of my knowledge, there are no known legitimate or authentic licenses from any foreign exchange regulator. The broker is purported to be regulated by CYSEC (Cyprus) and FCA (UK), but these are marked as suspicious by secondary verification.

The risk management index available for MC900 is zero, and this shows the potential risk the traders are exposed to is high by registration. A zero confirmed regulation implies there are no proven guidelines associated with the broker’s regulation and adherence upon registration.

Regulator

License Number

Status

CYSEC (Cy

Unverified

Cred

FCA (UK

Unverified

Suspicious

Other Regulators

N/A

None

Trading Conditions and Platform Technology

----------------------------------------

Detailed information regarding trading terms on MC900, such as spreads, leverage offered, minimum deposits, and commission charges, cannot be disclosed. This information makes it difficult to evaluate just how competitive trading on MC900 proves to be.

Likewise, there is no information available about the platforms for conducting trades that are facilitated by the MC900, whether it supports such platforms as MetaTrader 4 and/or MetaTrader5, or whether it has proprietary and mobile trade platforms.

Trading Condition

Details

Spreads

Not specified

Leverage

Not indicated

Minimum Deposit

Not disclosed

Commissions and Fees

A

Not disclosed

|

-----------------------------------------------

Not provided

Fee Structure

MC900 allegedly processes withdrawal requests in 1 to 3 business days. The withdrawal process sometimes has a zero fee, although the bank may charge otherwise. No specific data exists concerning any deposit fees, inactivity fees, or other possible deductions a trader may encounter.

The reason for this is that it is difficult to analyze the cost structure of the product MC900, given that there is no comprehensive list of the associated fees.

Fee Type

==========

Data

Deposit Fees

Not Applicable

Withdrawal Fees

Commonly free; bank dependent

Inactivity Fees:

Not disclosed

Commission

Not disclosed

User Experience and Market Reputation

Let us highlight the

Being that there is limited information and a lack of customer reviews, it is not possible to determine the user experience when utilizing MC900. Secondary research depicts a broker that should be handled carefully, mostly because it is not clear how it operates as a result of regulatory issues.

Absent any feedback on these aspects from the trading community and without any audits, it is hard to assess the level of customer service, execution speed, or satisfaction levels that are offered by MC900. These are some points that a potential trader should consider before sending any money to a broker.

Conclusion

MC900 prides itself on being a trading broker in the financial services industry, although the fact that little credible information exists, coupled with the lack of government regulations, should raise serious concerns. Little data exsts regarding the company’s background information, the terms and conditions under which it conducts trading, the technology that drives the platform, and the commissions involved. Would-be traders should approach the MC900 with caution and a focus on very thorough diligence before considering working with brokers who have a proven record before the regulatory bodies and clearer levels of operation. The presence of potential risk factors and a lack of clear understanding of the MC900 offerings should act as a warning towards using the MC900 for trading purposes.

Regulation check

Regulatory Licenses

MC900 is listed with a tier-1 or tier-2 licence that we have not yet checked against the regulator's register. An unchecked row is not a finding either way.

0 of 6 checked
6Licences on record
0Confirmed on register
4Tier 1 or 2
2Offshore

How far our check got

  • 6 not yet checked
  • SFCTier 1Hong KongDealing in securitiesNo. AXT242

    What the register says

    Licence number
    AXT242
    Type
    Dealing in securities

    Client protection under this licence

    • No compensation schemeNo mandatory insurance (but strict fund segregation)
    • Client money kept separate
    • Negative balance protection
    • Complaints routeSFC Complaints / FDRC
    • Maximum leverage1:13

    These are the rules SFC sets for the firms it licenses. They are not a statement about how MC900 applies them, or about which of its companies would hold your account.

    About Securities and Futures Commission

    Onshore regulatorGovernment bodyCompensation: No mandatory insurance (but strict fund segregation)Public registerTransparency: high
    Typical cost of this licence
    HKD 500000+
  • SFCTier 1Hong KongAdvising on securitiesNo. AXT242

    What the register says

    Licence number
    AXT242
    Type
    Advising on securities

    Client protection under this licence

    • No compensation schemeNo mandatory insurance (but strict fund segregation)
    • Client money kept separate
    • Negative balance protection
    • Complaints routeSFC Complaints / FDRC
    • Maximum leverage1:13

    These are the rules SFC sets for the firms it licenses. They are not a statement about how MC900 applies them, or about which of its companies would hold your account.

    About Securities and Futures Commission

    Onshore regulatorGovernment bodyCompensation: No mandatory insurance (but strict fund segregation)Public registerTransparency: high
    Typical cost of this licence
    HKD 500000+
  • SFCTier 1Hong KongAsset managementNo. AXT242

    What the register says

    Licence number
    AXT242
    Type
    Asset management

    Client protection under this licence

    • No compensation schemeNo mandatory insurance (but strict fund segregation)
    • Client money kept separate
    • Negative balance protection
    • Complaints routeSFC Complaints / FDRC
    • Maximum leverage1:13

    These are the rules SFC sets for the firms it licenses. They are not a statement about how MC900 applies them, or about which of its companies would hold your account.

    About Securities and Futures Commission

    Onshore regulatorGovernment bodyCompensation: No mandatory insurance (but strict fund segregation)Public registerTransparency: high
    Typical cost of this licence
    HKD 500000+
  • CySECTier 2CyprusFinancial ServiceNo. 299/16

    What the register says

    Licence number
    299/16
    Type
    Financial Service

    Client protection under this licence

    • Compensation schemeUp to €20000 (ICF)
    • Client money kept separate
    • Negative balance protection
    • Complaints routeCyprus Financial Ombudsman
    • Maximum leverage1:30

    These are the rules CySEC sets for the firms it licenses. They are not a statement about how MC900 applies them, or about which of its companies would hold your account.

    About Cyprus Securities and Exchange Commission

    Onshore regulatorGovernment bodyCompensation: Up to €20000 (ICF)Public registerTransparency: high
    Typical cost of this licence
    €50000-100000
  • FSCTier 3OffshoreLebanonFinancial ServiceNo. GB23201764

    What the register says

    Licence number
    GB23201764
    Type
    Financial Service

    Client protection under this licence

    • No compensation scheme
    • Complaints routeFSC Complaints
    • Maximum leverage1:1000

    These are the rules FSC sets for the firms it licenses. They are not a statement about how MC900 applies them, or about which of its companies would hold your account.

    About Financial Services Commission

    Offshore regulatorGovernment bodyNo compensation schemePublic registerTransparency: medium
    Typical cost of this licence
    USD 20000-30000
  • FSATier 3OffshoreSeychellesDealing in securitiesNo. SD184

    What the register says

    Licence number
    SD184
    Type
    Dealing in securities

    Client protection under this licence

    • No compensation scheme
    • Complaints routeFSA Enquiries
    • Maximum leverage1:1000

    These are the rules FSA sets for the firms it licenses. They are not a statement about how MC900 applies them, or about which of its companies would hold your account.

    About The Seychelles Financial Services Authority

    Offshore regulatorGovernment bodyNo compensation schemePublic registerTransparency: low
    Typical cost of this licence
    USD 10000-20000
Where we have checked a licence, it was checked against the issuing regulator's own register. Register wording is quoted as found.See all tier-1 regulated brokers
Deposits & withdrawals

Funding Methods

4 ways to fund an account. 2 with no deposit fee. 3 credit instantly.

4 methods
MethodDeposit feeWithdrawal feeMin depositWithdrawal min / maxProcessing
Credit/Debit Cards (Visa/Mastercard)Credit CardWithdrawals may take up to 5 days depending on broker; no fees typically.FreeFreeUSD 50USD 5Not recordedInstant
Bank Transfer (Wire/SWIFT)Bank TransferThird-party fees apply; withdrawal fees average A$20 at Pepperstone; processing times vary.Not recordedAUD 20USD 50USD 100Not recorded2 days
E-Wallets (Skrill, Neteller, PayPal, FasaPay)E-WalletWithdrawals often instant or up to 3 days; no fees typically; minimum withdrawal $5.FreeFreeUSD 1USD 5Not recordedInstant
Other (POLi, BPay, Union Pay)OtherSubject to geographic restrictions; availability varies by broker and region.Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Fees, limits and processing times as published by MC900, recorded by Wikilix.
Social channels

Social Presence

4 official channels on record.

4 channels
Channels as published by the broker, recorded by Wikilix.

Comments

Share your thoughts and experiences with MC900