Brokers  /  MagKing

MagKing

Severe risk
🇭🇰 Hong Kong · 5-10 years · since 2020-12-25 · MagKing
ASICFCAVFSC
Visit site ↗
2.6/5
★★★★★ ★★★★★
4 reviews ›
3
Licenses ›
2
Withdrawal issues ›
—
Min. deposit ›
—
Max leverage ›
0
Account types ›
85/100
Scam risk ›
0
Clone sites ›
▲ 0% positive▼ 100% negative
Independent ratingshow third parties score this broker
WikiFX1.53/10
Trustpilot2.6/5
Forex Peace Army—/5
85
Severe risk
Scam Risk Scoremonitored · 2026-07-05
Lower riskHigher risk
  • Listed as “Fake Broker” in industry watchdog records
  • Identified as a clone / impersonator firm
  • Withdrawal complaints in ~100% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing9735%
Company age2215%
Clone / impersonation10012%
Withdrawal & exposure complaints1212%
Offshore registration458%
Transparency (site/info/social)7510%
Real-user sentiment508%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameMagKing
Headquarters🇭🇰 Hong Kong
Founded2020-12-25
Years operating5-10 years
Employees0
Official websiteforex40.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods—
Withdrawal methods—
Instruments—

Regulation & licenses · 3

RegulatorLicense typeLicense No.RegionStatus
ASICMarket Making (MM)302792Australia—
FCAForex Execution License (STP)798776United Kingdom—
VFSCForex Trading License (EP)41706Vanuatu—

Review analysis AI

Rating mismatch — Industry-tracker scores run far lower than real users do (gap -1.83)

Across 2 recent Trustpilot reviews, 100% are 1–2 star. The single most common complaint is being unable to withdraw funds (2 reports) — the classic warning sign in forex.

0
Period:
What users complain about
Where reviewers are from
🇩🇪 DE1
🇺🇸 US1

Real user reviews

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About MagKing

MagKing is a forex and CFD broker based in Hong Kong, with records dating to 2020-12-25. It reports oversight from ASIC, FCA, VFSC.

FXCanary’s verdict is “Severe.” The combination of weak regulation and user complaints means your capital could be at serious risk.

On Trustpilot, MagKing holds a real-user score of 2.6/5 across 4 reviews. Withdrawal problems appear 2 times — always test a small withdrawal first.

Overview compiled by FXCanary from regulatory records and public data. full MagKing review