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Contract reading

What MG Group legally published, but does not want you to read

Every clause below is published by MG Group itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Marigold International Bullion Dealers Limited

language arbitragehidden feesole discretionclient moneyunilateral amendmentwithdrawalscomplaint deadlineconclusive evidencedata sharingdeemed acceptance

MG Group's Chinese pages tell you the company cannot move your funds. Clause 7.3 of the client agreement lets it move your money between your accounts without notice. One Chinese page takes 6% of any deposit arriving from someone else's bank account and cancels every trade you made after it. You get two working days to challenge a statement before it becomes final.

Back to MG Group

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
6
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
16
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
26
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 16 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical6
Warning8
Notice2

section 21 of 36is where the deepest clause sits, 58% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical6%Profit at risk. Jump to the clause this comes from.Six percent taken and every trade cancelledCritical10%Account limit. Jump to the clause this comes from.You owe whatever is left after a forced closeCritical2 working daysTime to complain. Jump to the clause this comes from.Two working days to challenge a statement7 working daysWithdrawal limit. Jump to the clause this comes from.Five hours guaranteed, five to seven days contracted

What the documents say

16 clauses worth knowing about, worst first, each quoted from MG Group's own files

01

MG Group tells Chinese readers that client funds sit in separate accounts and that the company cannot move them. Clause 7.3 of the agreement you sign lets MG Group move your spare cash into margin without any call or notice.

Why this matters

The page that persuaded you to deposit and the contract that governs the deposit say opposite things about who controls your balance. Only the contract binds MG Group, and it also gives the company a lien over everything of yours it holds.

Exhibit 1CriticalHarder than usual

MIBD is specifically authorized to transfer excess funds available in the Client’s trading account(s) or any other accounts with MIBD to the Client’s Margin account(s) without any call or notice and utilize the same as Margin thereafter.
Clause 7.3 in Client Agreement, p.5
Read from the broker's site on Open the reference

Where it sits: section 10 of 36 in the Client Agreement, 28% of the way through.

Set against a regulated standard: FCA (UK), ASIC (Australia)

Firms licensed by the FCA or ASIC must hold retail client money separately from their own and may not use it freely. This contract promises a segregated account and then adds the words if applicable.

MG Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

02

If money reaches your account from someone else's bank account, MG Group keeps 6% of it. If you had already traded, it also cancels every trade and rebate dated after that deposit, then freezes the account while it investigates.

Why this matters

Your profits from weeks of trading can be struck out because of where a deposit came from. This rule is published on one Chinese page and appears in no document you sign, yet the contract says it can only be amended in writing by an MG Group officer.

Exhibit 2CriticalRarely seen6%

如发现客户利用非本人（第三方）账户进行存款但未进行任何交易，本公司有权将所有第三方存款扣除百分之六作为相关费用后，将其余额退回存款银行账户；
Quoted in 「防止洗黑钱」措施 (Anti-Money Laundering)
Read from the broker's site on Open the reference
Our own capture of mibd-gold.com, taken on Sep 22, 2026Six percent taken and every trade cancelledVisit this page on the broker's siteDownload the full size image file

What it costsA $5,000 deposit sent from a relative's account comes back as $4,700. The $300 stays with MG Group whether or not you traded.

Our readingA flat percentage of a deposit kept as a fee, plus cancellation of the trades that followed it, is a penalty most firms handle by returning the money in full and closing the account.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Third party deposit, no tradingMG Group keeps 6% of the deposit and returns the rest to the sending bank account.
Third party deposit, after tradingEvery trade and benefit dated after the deposit is cancelled, and 6% is still kept.
Same case, account actionMG Group freezes the account at once, stops all trading, and decides whether to report you.
Suspected manipulationMG Group deducts the profit earned from the activity it suspects.
  • Worse together with Exhibit 10One page adds a charge the contract never mentions while the contract lets MG Group set its own rates without notice.
03

MG Group closes your positions when equity falls to 10% of the margin in use, and clause 5.6 leaves you owing any shortfall that remains. Its Chinese page warns that in a fast market the close may land below 10%.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

You can finish a bad day owing MG Group money on top of losing your deposit. The warning that the 10% level may not hold is printed in Chinese only, so an English reader never sees it.

Exhibit 3CriticalHarder than usual10%

the Client shall at all times be liable for the payment of any debit balance owing in such account(s) with MIBD upon demand, and that in all cases, the Client shall be liable for any deficiency remaining in such account(s) in the event the liquidation thereof in whole or in part by MIBD or by the Client.
Clause 5.6 in Client Agreement, p.3
Read from the broker's site on Open the reference

Where it sits: section 7 of 36 in the Client Agreement, near the start.

Set against a regulated standard: FCA (UK), ESMA (EU), ASIC (Australia)

Firms licensed by the FCA or under ESMA rules must give retail clients negative balance protection, so a client cannot lose more than the money in the account. This contract makes you liable for the deficiency instead.

MG Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Friday and holiday closeEquity under US$3,000 a lot and MG Group locks or closes positions at the closing price.
Equity 10%The system closes your biggest losing position first, then the next, until the margin is covered.
After the close outYou pay any debit balance on demand, and MG Group accepts no liability for the loss.
  • Worse together with Exhibit 4A stop order that quietly expires removes the one thing that would have kept you above the level where this clause starts costing you money.
04

MG Group gives three different answers on how long a stop or limit order lasts. The English page says valid on the day, the downloadable rule says good till week, and the Chinese page calls the same orders good till cancelled and then says they last one day.

Why this matters

A stop loss is what caps your loss while you sleep. You cannot tell from MG Group's own documents whether the one you placed on Monday is still there on Tuesday.

Exhibit 4CriticalHarder than usual3

1. Max 10 lots per deal 2. The account effective must more than US$3000/Lot, otherwise the open positions will be locked or settled at the closing prices. 3. All limit and stop orders are G.T.W (Valid on the day)
Quoted in Trading Rules
Read from the broker's site on Open the reference
05

You have two working days to object in writing to a trade confirmation or account statement. After that, clause 16.3 treats it as accepted and conclusive, and the clock starts when MG Group sends it, not when you read it.

Why this matters

Clause 16.2 counts a notice as delivered once it is posted or faxed, whether it reached you or not. If a wrong trade appears on a statement you never received, your two days can run out before you know it exists.

Exhibit 6CriticalHarder than usual2 working days

Confirmations of the execution of the Client’s orders and statements of the Client’s account(s) shall be conclusive evidence and deemed to be accepted if not objected to in writing by the Client directed to the address of MIBD stated therein (or such other address communicated in writing by MIBD)within two working days after transmitted thereof to the Client, by mail or otherwise.
Clause 16.3 in Client Agreement, p.9
Read from the broker's site on Open the reference

Where it sits: section 18 of 36 in the Client Agreement, 50% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must run a complaints procedure with published response times and must point retail clients to an independent scheme. No document here sets out how to complain at all.

MG Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

06

MG Group guarantees in Chinese that withdrawals through four named Chinese banks arrive within 5 hours. The withdrawal form you sign gives the company 5 to 7 business days, and its own FAQ says arrival depends on each bank's rules.

Why this matters

You may plan around a same day payout and wait a week and a half. The only version of the timing you agreed to is the slow one on the form.

Exhibit 7Warning7 working days

客戶可以隨時從交易帳戶中通過電匯提取所有或部份資金，提款申請可在5-7個工作日匯出。
Quoted in Withdrawal Form, p.1
Read from the broker's site on Open the reference

The numbers that decide when you are closed out do not agree with each other

MG Group publishes three margin figures for the same gold contract: $1,000 a lot in the downloadable rule, $3,000 a lot on the live page, and $1,000 intraday in the Chinese FAQ. The forced close is 10% on the page and 20% in the PDF, and stop orders are said to last a day, a week, or until cancelled. Clause 5.6 then makes you liable for whatever is still owing after MG Group closes your positions.

Trading conditions2 clauses flagged

The trading rule you download says one lot of gold needs $1,000 of margin. The live page says $3,000. The Chinese FAQ says $1,000 intraday, and clause 5.2 lets MG Group change the requirement on positions you already hold.

Why this matters

Margin decides how many lots you can open and how far the price can move before MG Group closes you out. Budget from the wrong sheet and you are near the cut point from your first trade.

Exhibit 5CriticalHarder than usual$3000

2. The account effective must more than US$1000.‐/Lot, otherwise the open positions will be locked or settled at the closing prices.
Quoted in Trading Rule, p.1
Read from the broker's site on Open the reference

Where it sits: section 6 of 36 in the Trading Rule, near the start.

What it costsOn the downloaded rule, $10,000 covers 10 lots at $1,000 each. On the live page, at $3,000 a lot, the same $10,000 covers 3.

  • Worse together with Exhibit 3Sizing a position from the lower figure puts you closer to the forced close that leaves you owing the shortfall.

Clause 4.5 says MG Group need not accept any order, including the matching trade that would settle a position you already hold. The online terms add that it may refuse an instruction without giving any reason.

Why this matters

Being unable to close is how a manageable loss becomes a debt, and clause 5.6 makes that debt yours. MG Group can also suspend your access to the platform at its sole discretion and without notice.

Exhibit 11WarningHarder than usual

MIBD is under no obligation whatsoever at any time to accept any order or enter into any Contract, including but not limited to any matching Contract or any Contract to settle any existing Contract in whole or in part.
Clause 4.5 in Client Agreement, p.3
Read from the broker's site on Open the reference

Where it sits: section 5 of 36 in the Client Agreement, near the start.

The promises are in Chinese, the contract is in English, and they disagree

MG Group's Chinese pages tell investors the company cannot move their funds, that withdrawals through four named Chinese banks arrive within 5 hours, and that $200 opens an account. The English client agreement lets MG Group move money between your accounts without notice, and the withdrawal form you sign says 5 to 7 business days. At the English web address those Chinese pages come up blank.

Language arbitrage2 clauses flagged

MG Group's investor page says $200 opens an account. Its FAQ says there is no minimum at all. Clause 5.2 says you pay a minimum deposit prescribed by MG Group, without naming a figure.

Why this matters

One lot of the gold contract needs $3,000 of margin on the live page, so $200 buys you an account that cannot open a single position. Getting the money back out means a bank wire, and a withdrawal under $50 costs $3.

Exhibit 12Warning$200

最低开户存款只需200美元，客户可先投放小额资金开户并进行交易，体验本公司的优质服务。
Quoted in 投资者保障
Read from the broker's site on Open the reference
Our own capture of mibd-gold.com, taken on Sep 22, 2026The claim, on Investor Protection page, Chinese only, under the heading small account openingVisit this page on the broker's siteDownload the full size image file

What it costs$200 is the advertised minimum. The smallest position on the live rules needs $3,000 of margin, which is 15 times that.

MG Group's English privacy page lets it share your data with any associate company and use it for any purpose connected to its business. The Chinese page at the same address promises the strictest confidentiality under Hong Kong law and says nothing about sharing.

Why this matters

Which promise applies to your passport copy and bank details depends on which language you clicked. No associate company is named, and neither version gives a retention period or a deletion right.

Exhibit 14WarningHarder than usual

any other purposes relating to or in connection with our business or dealings or the business or dealings of any Associated Company.
Quoted in Privacy Policy
Read from the broker's site on Open the reference

Where it sits: section 7 of 21 in the Privacy Policy, 33% of the way through.

The cost of a trade is a range, and the overnight rate has two published values

A $3 fee lands on any MG Group withdrawal under $50, and it appears only in the Chinese FAQ, not on the withdrawal form you sign. Holding one lot of gold overnight costs $6.90 a day on the live table and $5.50 a day in the swaps file on the same site. Clause 17.2 lets MG Group set commission rates from time to time, and the online terms let it charge service fees without notice.

Cost disclosure3 clauses flagged

Take out less than $50 and MG Group charges a flat $3. The withdrawal form you sign says the company adds no fee of its own, and the $3 appears only in the Chinese FAQ.

Why this matters

On a $49 withdrawal that fee is over 6% of your money. The same FAQ says MG Group can change the arrangement at any time without telling you.

Exhibit 8Warning$3

本公司一般不收取存取款手续费，但以下特殊情况除外：如客户单次取款少于50美元将统一收取3美元的手续费用。
Quoted in 常见问题
Downloaded from the broker's site on Open the reference
Our own capture of mibd-gold.com, taken on Sep 22, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

What it costsA $49 withdrawal costs $3, which is more than 6% of it. The same $3 on a $500 withdrawal is 0.6%.

Holding one lot of gold overnight costs $6.90 a day on MG Group's live table and $5.50 a day in the swaps file on the same site. Both charge you whether you bought or sold, and clause 13.1 lets MG Group set the rate conclusively.

Why this matters

This is the cost of simply keeping a position open, and it runs seven days a week because Wednesday is charged three times. Neither published figure is recent, and the FAQ says the real number is whatever the platform shows after you deposit.

Exhibit 9Warning$6.9

GOLD -6.90 -1.70
Quoted in 仓息表
Read from the broker's site on Open the reference

What it costsOne long lot costs $6.90 a day. A full week is seven days of interest, so $48.30, because Wednesday counts three times.

Commission is published as a range of $0 to $50 a lot, with nothing saying which you pay. Clause 17.2 lets MG Group set its rates from time to time, and the supplemental terms let it charge service fees without notice.

Why this matters

You cannot work out the cost of a trade before you place it, and a new charge can appear on your account without warning. The contract puts no ceiling on any of it.

Exhibit 10WarningHarder than usual$50

MIBD shall be entitled to charge or demand payment from Client and the Client agrees to pay upon demand at any time whether prior to or after execution of any order or orders commission at such rate or rates as MIBD shall specify from time to time in respect of each Contract
Clause 17.2 in Client Agreement, p.10
Read from the broker's site on Open the reference

Where it sits: section 18 of 36 in the Client Agreement, 50% of the way through.

What it costsAt the top of the range, $50 of commission on one lot is 5% of the $1,000 margin the downloaded rule asks for that lot.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose costs and charges to a retail client before that client trades. Here the rate is a range and the contract allows fees without notice.

MG Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

MG Group takes the other side and you agree its price is the best one

MG Group is the counterparty to your trades, which its definitions clause states and its introducing broker agreement repeats. Clause 6.2 then has you accept that whatever price MG Group offers is the best price available at the time. No outside benchmark appears anywhere in the contract.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Who you trade against1 clause flagged

The definitions make MG Group a principal in your transactions, and its IB agreement says the company is the counterparty to every trade on the platform. Clause 6.2 then has you accept that whatever price it quotes is the best available.

Why this matters

Your loss is the company's gain, and you have agreed in advance not to question its price. No outside benchmark appears anywhere in the contract.

Exhibit 13WarningStandard wording

“MIBD” means Marigold International Bullion Dealers LIMITED and its successors in title and assigns who act as a principal in transactions with the Client.
Quoted in Client Agreement, p.1
Read from the broker's site on Open the reference

Where it sits: section 9 of 36 in the Client Agreement, near the start.

Hong Kong law, Hong Kong courts, and MG Group free to go elsewhere

MG Group's clause 20 puts the contract under Hong Kong law and the non-exclusive jurisdiction of Hong Kong courts. Non-exclusive leaves the company free to bring proceedings in another court. For a client outside Hong Kong, any claim means travelling to Hong Kong to bring it.

Where a claim goes1 clause flagged

Clause 20 puts the contract under Hong Kong law and the non-exclusive jurisdiction of Hong Kong courts. Non-exclusive means MG Group stays free to bring proceedings in any other court it chooses.

Why this matters

Any claim you bring means bringing it in Hong Kong. Closing your account also needs four working days of written notice, and MG Group may liquidate your positions when it ends.

Exhibit 15NoticeStandard wording

The validity, construction, interpretation and enforcement of this Agreement shall be governed by the laws of Hong Kong SAR and the Parties consent to the non-exclusive jurisdiction of the Hong Kong courts in connection with any suit, action or proceeding arising out of or in connection with this Agreement, provided that nothing contained in this clause shall preclude the taking of proceedings in any other court of competent jurisdiction.
Clause 20 in Client Agreement, p.11
Read from the broker's site on Open the reference

Where it sits: section 21 of 36 in the Client Agreement, 58% of the way through.

Two real registrations, neither of which protects your balance

Marigold International Bullion Dealers Limited holds Hong Kong Gold Exchange membership 023 and a Hong Kong Customs registration for precious metals dealing, both published with their numbers. Neither is a licence to hold client money, and no document in the set names a compensation scheme. Clause 5.8 promises a segregated account and then adds the words if applicable.

Who holds your money1 clause flagged

MG Group holds Hong Kong Gold Exchange membership 023 and a Hong Kong Customs registration for dealing in precious metals and stones. Neither one is a licence to hold client money, and no document in the set names a compensation scheme.

Why this matters

If the company fails, nothing in these documents tells you what would happen to your balance. The only promise of separate accounts is the one clause 5.8 qualifies with the words if applicable.

Exhibit 16NoticeStandard wording

根据香港特别行政区政府公司法成立于2007年6月6日。香港黄金交易所会员号码：023号，获准在香港经营贵金属现货、杆杠式按金交易或及接受全球经纪伙伴业务。
Clause 香港黄金交易所会员：023号 in 资质认证
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must belong to a compensation scheme that pays retail clients if the firm fails, and must say so in their terms. No scheme is named in any document here.

MG Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page says MG Group cannot move client money and the contract authorises it to move that money without notice.

Said in public, in Chinese

客户资金与本公司的营运资金分开存放于不同的账户，存款和取款都在香港持牌银行进行，本公司不能调动客户的资金。

Word for word in English: Client funds are held separately from the company's operating funds in different accounts. Deposits and withdrawals are made through licensed Hong Kong banks. The company cannot move client funds.

Investor Protection page, Chinese only, under the heading clear accounts

In the contract · clause 7.3

MIBD is specifically authorized to transfer excess funds available in the Client’s trading account(s) or any other accounts with MIBD to the Client’s Margin account(s) without any call or notice and utilize the same as Margin thereafter.

02

A 6% charge and a cancellation of trades are imposed by a web page while the contract says its terms change only in writing signed by an officer.

Said in public, in Chinese

如发现客户利用非本人（第三方）账户进行存款并已进行交易，本公司有权将由进行第三者存款起的所有交易及优惠（包括但不限返佣）取消，并将所有第三者存款扣除百分之六相关费用后，将其余额退回存款银行账户。

Word for word in English: If a client is found to have deposited using a third party account and has already traded, the company has the right to cancel all trades and benefits (including but not limited to rebates) from the third party deposit onwards, and to deduct six percent of all third party deposits as related fees before returning the balance to the depositing bank account.

Anti-money-laundering page, Chinese only; the same page is blank at the English address

In the contract · clause 18.3

All provisions of this Agreement shall not in any respect be waived, altered, modified or amended unless such waiver, alternation, modification or amendment be committed to writing and signed by one of the authorized officers of MIBD.

03

The same abbreviation is defined as one day on the page and one week in the downloadable rule.

Said in public, in English

3. All limit and stop orders are G.T.W (Valid on the day)

Trading Rules page, London gold table, Attention row

In the contract

3. All limit and stop orders are G.T.W ( Good Till Week)

04

The margin needed to hold one lot is $3,000 on the live page and $1,000 in the rule the same site offers for download.

Said in public, in English

1. Max 10 lots per deal 2. The account effective must more than US$3000/Lot, otherwise the open positions will be locked or settled at the closing prices. 3. All limit and stop orders are G.T.W (Valid on the day)

Trading Rules page, London gold table, Attention row

In the contract

2. The account effective must more than US$1000.‐/Lot, otherwise the open positions will be locked or settled at the closing prices.

05

A guaranteed 5 hours on the marketing page is 5 to 7 working days on the form you sign.

Said in public, in Chinese

客户透过中国工商银行、中国建设银行、中国农业银行或中国招商银行取款，保证5小时内到账。

Word for word in English: Clients withdrawing through ICBC, China Construction Bank, Agricultural Bank of China or China Merchants Bank are guaranteed to receive the funds within 5 hours.

Investor Protection page, Chinese only, under the heading fast withdrawal

In the contract

客戶可以隨時從交易帳戶中通過電匯提取所有或部份資金，提款申請可在5-7個工作日匯出。

06

The signed form says MG Group adds no fee of its own while the Chinese FAQ charges $3 on withdrawals under $50.

Said in public, in English

MIBD does not add any fees to the transfer fees charged by the remitting bank(s).

Withdrawal Form, the document a client signs to take money out

In the contract

本公司一般不收取存取款手续费，但以下特殊情况除外：如客户单次取款少于50美元将统一收取3美元的手续费用。

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mibd-gold.com

07

The page promises a $200 entry while the contract leaves the minimum to MG Group and one lot needs $3,000 of margin.

Said in public, in Chinese

最低开户存款只需200美元，客户可先投放小额资金开户并进行交易，体验本公司的优质服务。

Word for word in English: The minimum opening deposit is only US$200. Clients can open an account with a small amount of money and trade, to experience the company's quality service.

Investor Protection page, Chinese only, under the heading small account opening

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mibd-gold.com

In the contract · clause 5.2

A minimum deposit prescribed by MIBD shall be paid by the Client prior to opening all new accounts with MIBD.

The documents this reading is based on

26 files, all published by MG Group. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording MG Group publishes.

How this reading was done

Every clause above was read out of a document MG Group publishes itself

This reading was published on .

Documents
25 of 26downloaded from the broker's site, and 25 read in full
Pages opened
24pages walked to find those documents, footer links included
Older copies
8earlier versions downloaded, 7 identical to the copy we hold by fingerprint
Marketing pages
7public pages set against what the contract says
Languages
EN vs ZHthe language it advertises in, against the language it contracts in
Position measured
9clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Marigold International Bullion Dealers Limited

You contract with Marigold International Bullion Dealers Limited, a Hong Kong company, business registration 38044896. It is member 023 of the Hong Kong Gold Exchange, formerly the Chinese Gold & Silver Exchange Society, and that number matches the exchange's own member list. A second registration, Hong Kong Customs number A-B-23-06-00514, covers dealing in precious metals and stones under money laundering rules. Neither is a licence to hold client money, and no document in the set names a compensation scheme. The agreement defines MIBD as acting as a principal in transactions with the client, so the company you pay is the company on the other side of your trade.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

The Hong Kong Gold Exchange membership number 023 on the qualification page checks out against the exchange's own member list, and the Customs registration number is published with its start date beside it. MG Group refuses third party deposits and pays withdrawals only into a bank account in your own name, which closes a common route for account takeover. The Chinese trading rules admit something most firms leave out: a forced close may not happen at the stated level when the market moves fast. No document in the set carries an inactivity fee, a dormancy ladder or a bonus turnover lock.

We read the client agreement end to end, in today's copy and in a 2021 copy. Seven of the eight older files are identical to today's, so we checked those by fingerprint rather than reading them twice. The fee rules, the margin figures and the anti-money-laundering penalties are published in Chinese only. At the English address those same pages are blank. Every Chinese quotation here comes with an English rendering. On the FAQ we read the answers on fees, withdrawals, margin and fund safety, not every answer on the page. We found no complaints procedure, no rebate terms and no client money statement in either language.

How to check any of this yourself

Every quote above links to the MG Group file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document MG Group publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge MG Group on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 22, 2026.

If you represent MG Group and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on MG Group. Whether its licence is real and current is a separate check on the broker profile.

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