Overall Score50 / 100The Wikilix trust rating of NGEL PARTNERS, out of 100, built from the five factors below.Our investigation rated it high risk and could not verify it, and it holds a valid LFSA MB/20/0048 licence.Regulation46%Identity70%Client terms44%Trading offer72%Service51%Score last calculated 2026/10/28
Fair50 to 64. A mixed record: some strengths, some open questions. Read the details before you deposit.Why: Our investigation rated it high risk and could not verify it, and it holds a valid LFSA MB/20/0048 licence.
50 out of 100 · 76% checkedThe share of the record we could verify. What we could not check counts as unknown and pulls the score toward the middle, never down.
Do not trust
High risk
Fair
Good
Excellent
Our investigation rated it high risk and could not verify it, and it holds a valid LFSA MB/20/0048 licence.
Capped at 50 · High risk, unverified
We checked NGEL PARTNERS on 2026-10-28 across its regulation, company record, client terms, trading offer and service, and could verify 76% of its record. Its strongest valid licence is LFSA MB/20/0048. The score was held at 50 because our investigation rated it high risk and could not verify it. What would move the score: licence held by the onboarding entity, policy risk, critical clauses. Our published investigation found it is high risk and could not be verified, with 7.6 years of track record. Its client terms have not been reviewed yet.
Score last calculated 2026/10/28
Regulation
Is someone watching them?
46out of 100
Poor
Counts for 35% of the score93% checked
What we checked
Best licence in force45
LFSA MB/20/0048 in force with a caveat · Oct 13, 2026Source
Whether a financial authority supervises this broker: the licences it holds, whether we verified them on the official register, how strong that regulator is and what protection it gives clients. Worth 35 points of 100.
Identity
Who is behind it, and for how long?
70out of 100
Good
Counts for 15% of the score100% checked
What we checked
Registry-verified entity50
3 entity(ies) recorded with a registration number · Oct 13, 2026
Verified age90
Verified track record 7.6 years · Oct 13, 2026
Transparency50
Scam check identity transparency 5/10 · Oct 13, 2026
Site integrity100
Website reachable and not redirecting · Oct 13, 2026Source
What this measures
Who is behind it and for how long: a company registration we verified, years of verified history, how openly it names its entity, address and owners, and whether its website is intact. Worth 15 points.
Client terms
Are the client terms fair?
44out of 100
Poor
Counts for 15% of the score20% checked
What we checked
Policy riskNot checked yet
No published policy review
Critical clausesNot checked yet
No published policy review
Withdrawal rails20
6 rail(s): 0 fee-free of 6 known, 0 instant of 6 known, minimum $0.01 · Oct 13, 2026Source
Language parityNot checked yet
No published policy review
What this measures
How fair the client agreement is: the risk found in our policy review, the number of critical clauses, withdrawal rules, and whether the terms say the same in every language. Worth 15 points.
Trading offer
What does trading cost, and is it disclosed?
72out of 100
Good
Counts for 20% of the score60% checked
What we checked
All-in EURUSD costNot checked yet
No EURUSD spread known
Pricing disclosed per account type100
6 of 6 pricing cells filled across 2 account type(s) · Oct 13, 2026Source
Instrument breadth100
forex 70, crypto ?, cfd/indices/commodities/stocks ? · Oct 13, 2026Source
Platforms95
1 platform(s) (MetaTrader 5), web, mobile · Oct 13, 2026Source
What trading costs and how clearly it is disclosed: pricing per account type, the all-in cost of EURUSD, instruments, platforms, leverage against regulated limits and the minimum deposit. Worth 20 points.
Service
How do they treat clients?
51out of 100
Fair
Counts for 15% of the score90% checked
What we checked
Fund-integrity complaints70
Scam check withdrawal complaints 3/10 · Oct 13, 2026
Support channels33
2 of 6 support checks (phone, email, 24/7 chat, 2+ languages, messenger, complaints email) · Oct 13, 2026
Reputation footprint40
Scam check reputation 6/10 · Oct 13, 2026
WIKILIX communityNot checked yet
0 approved review(s), fewer than 10
What this measures
How clients are treated: support channels, complaints about withdrawals and reputation from our investigation, and reviews by WIKILIX members. Worth 15 points.
56%Scam riskScam risk is our overall estimate that this broker is unsafe, from 0% (safe) to 100% (almost certainly a scam). It blends the six risk areas below, weighted by how strong the evidence is. Higher means riskier.
High risk (unverified)Our overall call, based on the evidence we could verify. From safest to worst: Appears legitimate, Insufficient evidence, High risk (unverified), Likely scam, Confirmed scam. A separate "Not a broker" verdict is used when it does not really offer trading.Confidence: MEDIUMHow sure we are of this verdict, based on how much solid, checkable evidence we found. Shown as Low, Medium or High.
3.0/5Safety rating 3 out of 5
The Wikilix safety rating, from 1 to 5 stars. It mirrors the scam risk (5 = safest, 1 = riskiest), so a higher risk percentage means fewer stars.
Probably not an outright scam, but we rate Ngel Partners high risk at 56 percent. Its Malaysian licence is genuine and appears on the regulator's own register, yet the broker's own website claims UK…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation7/10 · HighIs it overseen by a strict, well-known financial regulator? Offshore-only or missing licences score higher.Scored 0 (clean) to 10 (worst). This area is 7/10 (High).Identity & transparency5/10 · ModerateHow openly it shows who and where it is (legal entity, address, owners). Hidden details score higher.Scored 0 (clean) to 10 (worst). This area is 5/10 (Moderate).Withdrawals & conduct3/10 · LowCredible reports of clients being unable to withdraw their money. More such reports score higher.Scored 0 (clean) to 10 (worst). This area is 3/10 (Low).Reputation6/10 · HighWhat independent reviews, regulators and watchdogs say about it. A poor track record scores higher.Scored 0 (clean) to 10 (worst). This area is 6/10 (High).Website claims9/10 · CriticalWhether the site claims (awards, years active, licences) actually check out. False claims score higher.Scored 0 (clean) to 10 (worst). This area is 9/10 (Critical).Operational history6/10 · HighHow long and how consistently it has genuinely operated. Brand-new or murky history scores higher.Scored 0 (clean) to 10 (worst). This area is 6/10 (High).
Editorial review
Updated
Broker Summary
What Wikilix has recorded about NGEL PARTNERS: its history, the licences it holds, its trading conditions and its fees.
NGEL PARTNERS Broker Overview
NGEL PARTNERS is a forex and CFD broker trading under the name Ngel Partners PTE. LTD, with a registered office in Labuan, Malaysia. It has been operating since 2019, offers MetaTrader 5 as its only platform, and opens live accounts from 200 USD with leverage capped at 1:200. No regulator has been confirmed for it, so WIKILIX classifies it as an offshore broker.
The offering is narrow and openly described on the broker's own site: two live account tiers, one platform, and six funding routes split between bank wire, one e-wallet and four crypto channels.
NGEL PARTNERS Regulation and License
NGEL PARTNERS displays licence number MB/20/0048 on its own website. WIKILIX has not been able to confirm that licence on the issuing authority's own register, and the record does not settle which authority issued it, so it stands as a claim rather than a licence in force.
The broker also publishes a company registration. A company registration establishes only that a company exists: it is not financial regulation, and it does not create a regulator's record of the firm or any oversight of how client money is handled.
Is NGEL PARTNERS Regulated?
No. There is no confirmed financial regulation for NGEL PARTNERS. The broker advertises a licence number, but that claim has not been verified on the register of the authority said to have issued it, which is why the broker is classified as offshore rather than regulated.
NGEL PARTNERS PTE. LTD.
Two company names sit behind the NGEL PARTNERS brand. The first is Ngel Partners, carrying Labuan registration number LL16146 and a registered address at Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca Ranca, F.T. Labuan, Malaysia 87000. The second is NGEL PARTNERS PTE. LTD., number 201908964W, incorporated on 19 March 2019.
Number 201908964W appears on the record twice, once as an active Malaysian entry and once as a Singapore entry recorded as dissolved. Neither company has been confirmed against an official corporate registry, so the corporate structure behind the brand should be read as unconfirmed.
Is NGEL PARTNERS Safe?
There is no confirmed regulation behind NGEL PARTNERS, so a client has none of the protections that come with it: funds would not be covered by a compensation scheme, and there is no confirmed authority to take a complaint to. A Labuan company registration does not substitute for that.
One further point is worth weighing, which is that one of the companies recorded against the brand is shown as dissolved. Set against it, the broker has traded under the same brand and the same website since 2019, publishes its trading and funding terms openly, and runs MetaTrader 5 on its own named server.
NGEL PARTNERS Account Types
There are two live account tiers. The Standard Account opens from 200 USD and charges no commission, with spreads quoted as variable. The ECN Account opens from 10,000 USD and charges 0.5 pips one way instead.
The 10,000 USD entry point is the main practical difference between them, since both tiers share the same leverage cap.
NGEL PARTNERS Spreads, Commissions and Fees
Spreads are variable rather than fixed. The Standard Account carries no commission and the ECN Account is charged at 0.5 pips one way.
The fee that matters most here is on the way out: withdrawals carry 1 percent, with a minimum of 20 USD and a cap of 100 USD, on every method the broker offers. Deposits are advertised at no charge.
NGEL PARTNERS Leverage
Leverage is capped at 1:200, and that cap applies to the Standard and the ECN account alike.
NGEL PARTNERS Trading Platforms
MetaTrader 5 is the only platform NGEL PARTNERS offers, running on the broker's own NgelPartnersPteLtd server. It is available as a Windows download and for macOS, the web browser, Android and iOS, and Expert Advisors are supported. There is no MetaTrader 4 and no platform of the broker's own making.
NGEL PARTNERS Deposits and Withdrawals
Six funding routes are offered: bank wire, Neteller, Bitcoin, Ethereum, and USDT on both the ERC20 and TRC20 networks. Minimums are 300 USD by bank wire, 200 USD by Neteller, 200 USDT on either USDT network, and 0.01 BTC or 0.01 ETH on the two coin routes.
Bank deposits are credited in two to three business days and paid out in three to five, Neteller credits in about six hours and pays out in one to two business days, and the crypto routes are quoted at one to two hours in each direction. Two crypto conditions apply: crypto withdrawals are processed on weekdays only, and withdrawing in crypto requires having deposited in crypto. Crypto amounts are converted at the market price at the time of remittance, so the sum paid out can differ from the sum requested.
NGEL PARTNERS Support
Support is in English only, by phone on +60 087504220, by email at support@ngelpartners.com, and by live chat during business hours. The customer consultation centre is open on weekdays from 09:00 to 18:00 GMT+8 and closed at weekends and on public holidays, and the broker runs a on its own site.
NGEL PARTNERS Pros and Cons
In its favour:
MetaTrader 5 on the broker's own server, across desktop, web and mobile
A low 200 USD entry point on the Standard Account, with no commission
Funding terms, fees and processing times published openly on the broker's own site
No deposit fees
Against it:
No confirmed financial regulation, and the advertised licence number is unverified
One of the companies recorded against the brand is shown as dissolved
A 1 percent fee on every withdrawal, with a 20 USD minimum
A 10,000 USD minimum on the ECN tier
Support in English only
NGEL PARTNERS Review and Assessment
NGEL PARTNERS is a small offshore operation with a coherent but narrow product: one platform, two account tiers, and a funding mix weighted towards crypto. What a prospective client is really deciding is whether to accept an unverified licence claim and an unconfirmed corporate structure in exchange for a 200 USD entry point, because there is no confirmed regulator standing behind the account.
The withdrawal terms deserve a second look before any deposit, in particular the fee charged on every withdrawal and the rule that a crypto withdrawal requires a crypto deposit.
Website archive
Captured
Website snapshots
8 full-page captures of NGEL PARTNERS's own site, archived so what they said can still be read after the pages change.
No tier-1 or tier-2 licence is in force. The regulation NGEL PARTNERS holds is lighter, and each licence's record says what its regulator requires.
1 of 1 checked
Licences on recordEvery licence or registration recorded for this broker, whether the broker claims it or our check found it.
1
Confirmed on registerLicences we located on the issuing regulator's own public register, with a screenshot taken at the time.
1
Tier 1 or 2Licences from tier-1 or tier-2 authorities (FCA, ASIC, CySEC and peers), the strongest client protection. A registration we could not confirm as a licence is not counted.
0
OffshoreLicences from offshore registers, which typically carry no compensation scheme and lighter oversight.
0
WIKILIX
Licence intelligence
The only licence on file
Licence Verification Record
Labuan Financial Services AuthorityMB/20/0048
Wikilix read the LFSA register on Oct 13, 2026. This is what it said.
Jurisdiction
Malaysia
Authority strength
Tier 3
Register status
Active
Checked Oct 13, 2026
What our check found
A money-broking licence issued under Labuan's financial services law. It permits the holder to arrange and transmit currency transactions as an intermediary for commission, and licence records classify this category as a transmission authorisation. It is not a dealing or market-making licence, and Labuan carries no investor compensation scheme. Client protection: Low. No compensation scheme and no deposit guarantee. The regulator can act against the licensee, but a client whose funds went missing would rank as an ordinary creditor.
Client protection under this licence
Compensation schemeDeposit insurance up to RM 100,000 per depositor
Client money kept separate
Complaints routeLabuan FSA complaints channel
Maximum leverage1:96
These are the rules LFSA sets for the firms it licenses. They are not a statement about how NGEL PARTNERS applies them, or about which of its companies would hold your account.
A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
1The refused countries come from the risk disclaimer in the footer of every page of the broker's website (https://www.ngelpartners.com/, as of 13 October 2026): "NgelPartners does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea and listed / relevant parties of Consolidated United Nations Security Council Sanctions Lists."
2That wording says "certain jurisdictions such as", so the five named states are a sample rather than a closed list. No other jurisdiction is named anywhere on the site, so no other country is added.
3The reference to "listed / relevant parties of Consolidated United Nations Security Council Sanctions Lists" covers persons and entities, not countries, so it adds no country.
4Dependent territories: the United States is named but none of its territories are, so Puerto Rico, Guam, the US Virgin Islands, American Samoa and the Northern Mariana Islands fall under the US block. The United States Minor Outlying Islands are left out, having no resident population. Cuba, Sudan, Syria and North Korea have no dependent territories.
5No accepted list is given. The live registration form at https://traders.ngelpartners.com/open-live-account offers an unfiltered selector of 249 countries, the full world list down to Antarctica, Bouvet Island and Pitcairn, and applies no country filter at all: the United States, Cuba, Sudan, Syria and North Korea are each offered alongside every other jurisdiction. A selector that filters nothing states no acceptance policy, so it adds no country to the accepted list.
6The registration form and the footer disclaimer therefore disagree, and the disagreement is recorded rather than settled: the disclaimer refuses five jurisdictions the form still offers. Sources: https://www.ngelpartners.com/ and https://traders.ngelpartners.com/open-live-account
7The client agreement in force, the Terms of service dated 1 January 2020 that every registrant must accept, linked from the registration form at https://traders.ngelpartners.com/public_media/2c/45/2c771580-86d2-11ee-b75f-8be732a84c45.pdf, was read in full across its 33 clauses and contains no country or jurisdiction eligibility provision of any kind.
8The broker's Legal Documents page at https://www.ngelpartners.com/about3.html links an AML/CFT policy and a Terms of service copy, and both linked files are missing from the site, so no restriction list could be read from either.
9The site publishes no dedicated countries page: no restricted, prohibited, accepted or where-we-operate page is served on any candidate path, and there is no sitemap. The Help Center at https://www.ngelpartners.com/help_center.html carries notices, an FAQ and a user guide, none of which mention a country restriction, and the separate help centre it links has been closed.
10The deposit, withdrawal, financial security and affiliate pages at https://www.ngelpartners.com/fund1.html, fund2.html, fund3.html and partnership1.html were read and state no country restriction.
11The site is published in English only, with no language variants, so no market-specific policy could be read from a localised version.
12Iran is written to no list: no page on the broker's own domains names Iran, restricts it or markets to it, and the registration form offers it like every other jurisdiction.
Deposits & withdrawals
Funding Methods
6 ways to fund an account. 6 with no deposit fee.
6 methods
Method
Deposit fee
Withdrawal fee
Min deposit
Withdrawal min / max
Processing
Bank Wire TransferWire TransferDeposits are credited in 2 to 3 business days, minimum 300 USD, with no maximum stated. Withdrawals take 3 to 5 business days, minimum 300 USD, and carry a 1 percent fee with a 20 USD minimum and a 100 USD cap (https://www.ngelpartners.com/fund2.html). The deposit fee is advertised as reduced from 3 percent to 0 percent. Funds are sent as an overseas SWIFT transfer to the company's bank account and the sender's name must match the registered account name. A separate policy note on the withdrawal page says bank withdrawals complete within 2 to 5 business days. The site labels this channel Bank Wire.
Free
1%
USD 300
USD 300/—Not recorded
Up to 3 days
NetellerE-WalletDeposits are credited in about 6 hours, minimum 200 USD, maximum 10,000 USD, with no deposit fee. Withdrawals take 1 to 2 business days, minimum 200 USD, and carry a 1 percent fee with a 20 USD minimum and a 100 USD cap (https://www.ngelpartners.com/fund2.html). The withdrawal page states no maximum, so the 10,000 USD cap shown is the deposit limit. Deposits have to be pushed from a Neteller account the client logs into directly, using the company's merchant ID and a transfer code, because automatic debits are not available.
Free
1%
USD 200
USD 200/USD 10,000
Up to 6 hours
BitcoinCryptocurrencyThe minimums are denominated in BTC, not USD: 0.01 BTC to deposit and 0.01 BTC to withdraw. Both directions are quoted at 1 to 2 hours with no maximum stated. The deposit fee is advertised as reduced from 3 percent to 0 percent; withdrawals carry a 1 percent fee with a 20 USD minimum and a 100 USD cap (https://www.ngelpartners.com/fund2.html). Crypto amounts are converted at the market price at the time of remittance, so the amount credited or paid out can differ from the amount applied for; network gas costs can delay withdrawals, crypto withdrawals are processed on weekdays only, and withdrawing in crypto requires having deposited in crypto (https://www.ngelpartners.com/help_center.html).
Free
1%
USD 0.01
USD 0.01/—Not recorded
Up to 2 hours
EthereumCryptocurrencyThe minimums are denominated in ETH, not USD: 0.01 ETH to deposit and 0.01 ETH to withdraw. Both directions are quoted at 1 to 2 hours with no maximum stated. The deposit fee is advertised as reduced from 3 percent to 0 percent; withdrawals carry a 1 percent fee with a 20 USD minimum and a 100 USD cap (https://www.ngelpartners.com/fund2.html). Crypto amounts are converted at the market price at the time of remittance, so the amount credited or paid out can differ from the amount applied for; network gas costs can delay withdrawals, crypto withdrawals are processed on weekdays only, and withdrawing in crypto requires having deposited in crypto (https://www.ngelpartners.com/help_center.html).
1The minimums are denominated in USDT, not USD: 200 USDT to deposit and 200 USDT to withdraw. The amount currency fields hold USD because that column takes only three characters. Both directions are quoted at 1 to 2 hours with no maximum stated. The deposit fee is advertised as reduced from 3 percent to 0 percent; withdrawals carry a 1 percent fee with a 20 USD minimum and a 100 USD cap (https://www.ngelpartners.com/fund2.html). Crypto amounts are converted at the market price at the time of remittance, network gas costs can delay withdrawals, crypto withdrawals are processed on weekdays only, and withdrawing in crypto requires having deposited in crypto (https://www.ngelpartners.com/help_center.html). · applies to 2 methods
MetaTrader 5 on the broker's own NgelPartnersPteLtd server: Windows installer, with Mac, web, iOS and Android access advertised and Expert Advisor support.
Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca Ranca, 87000 F.T. Labuan, Malaysia
Peer comparison
Brokers worth comparing
4 other brokers on the record share what NGEL PARTNERS offers — its country, regulator, account types or platforms — set beside it on the same measures.
Ngel Partners quotes around 70 forex pairs. The broker does not publish counts for its other instrument classes, so WIKILIX does not state a figure for them.
WIKILIX has not found Ngel Partners to be fraudulent, and it has not been able to confirm the broker's licence either. What is on record is that no regulator has been confirmed for it, that one of the companies recorded against the brand is shown as dissolved, and that every withdrawal carries a 1 percent fee with a 20 USD minimum.
Those are grounds for caution rather than a finding of fraud.
Ngel Partners publishes one phone number, +60 087504220, and one email address, support@ngelpartners.com. Live chat is offered during business hours, and the broker runs a on its own site.
Its customer consultation centre is open on weekdays from 09:00 to 18:00 GMT+8 and closed at weekends and on public holidays. Support is in English.
Ngel Partners offers two live account types. The Standard Account opens from 200 USD and charges no commission, with spreads quoted as variable, and the ECN Account opens from 10,000 USD and charges 0.5 pips one way.
Both tiers cap leverage at 1:200.
It depends on the method. Bank wire withdrawals are quoted at three to five business days, Neteller at one to two business days, and the four crypto routes at one to two hours.
The minimum withdrawal is 300 USD by bank wire, 200 USD by Neteller, 200 USDT on either USDT network, and 0.01 BTC or 0.01 ETH on the two coin routes.
Ngel Partners charges 1 percent on withdrawals, with a minimum of 20 USD and a cap of 100 USD, and that applies to every method it offers. Deposits are advertised at no charge.
Crypto withdrawals carry two extra conditions: they are processed on weekdays only, and withdrawing in crypto requires having deposited in crypto. Crypto amounts are converted at the market price at the time of remittance, so the sum paid out can differ from the sum requested.
Ngel Partners has been operating since 2019, which places it in the five to ten year band. The company registration associated with the brand is dated 19 March 2019.
Two company names sit behind the Ngel Partners brand: Ngel Partners, registered in Labuan, Malaysia under number LL16146, and NGEL PARTNERS PTE. LTD., number 201908964W, incorporated on 19 March 2019.
Number 201908964W appears on the record twice, once as an active Malaysian entry and once as a Singapore entry recorded as dissolved. Neither company has been confirmed against an official corporate registry, so the corporate structure behind the brand should be treated as unconfirmed.
According to WIKILIX data, Ngel Partners offers a maximum leverage of 200:1. This leverage level applies to their trading accounts, including ECN accounts, which have variable spreads and commission fees.
The minimum deposit amount to open an account with Ngel Partners is generally $200 USD, depending on the funding method. For example, bank wire transfers require a minimum deposit of $300 USD, while cryptocurrency deposits can be as low as 0.01 units.
Ngel Partners offers several funding methods including bank wire transfer, Neteller, Bitcoin, Ethereum, and USDT (ERC20 and TRC20). Deposit minimums vary by method, starting from as low as 0.01 units for cryptocurrencies and $200 for e-wallets, with withdrawal fees typically set at 1%.
Ngel Partners offers MetaTrader 5, and it is the only platform on record for the broker. It runs on the broker's own NgelPartnersPteLtd server and is available as a Windows download and for macOS, the web browser, Android and iOS, with Expert Advisor support.
No regulator has been confirmed for Ngel Partners. The broker displays licence number MB/20/0048 on its own website, but that claim is not confirmed on the issuing authority's own register. WIKILIX therefore treats it as a claim, not a licence in force, and classes the broker as offshore.
The company registration the broker publishes, number LL16146 in Labuan, Malaysia, is a corporate registration. It shows that a company exists and is not financial regulation.
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