Below is a comprehensive analysis of MogaFX (Moga International Group LLC), based on the requested criteria, including online complaints, risk assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, and potential brand confusion. The analysis draws on available information, critically evaluated to provide a balanced perspective.

1. Online Complaint Information ¶

MogaFX has garnered significant negative feedback across multiple platforms, with numerous complaints centered on withdrawal issues, unresponsiveness, and allegations of fraudulent behavior. Key points include:

• Trustpilot Reviews: Out of 34 reviews, MogaFX has a mixed TrustScore, with some users reporting smooth withdrawals and positive experiences, while others label it a scam. Complaints include prolonged withdrawal delays (e.g., months without funds), accounts being locked, and unresponsive customer support. One user reported being unable to withdraw $1,000 since 2021, and another mentioned a $700,000 account being inaccessible after being shut out.
• Forex Peace Army: Reviews highlight issues such as refusal to process withdrawals unless additional deposits are made (e.g., a user was asked to deposit $40,000 to withdraw $20,000). Others reported high slippage, uncompetitive spreads, and a minimum withdrawal requirement of $100, which prevented smaller withdrawals.
• WikiFX: The broker has a low WikiFX score due to numerous complaints, including withdrawal failures (e.g., $27,000 stuck since December 2023) and allegations of being a scam operated by Taiwanese entities.
• ScamAdviser and Other Platforms: ScamAdviser rates mogafx.com with a low trust score, citing a Tranco ranking indicating low website traffic and potential scam indicators. Users on reviews.io reported losing significant sums and needing third-party intervention to recover funds. Analysis: The volume and consistency of complaints about withdrawal issues and unresponsiveness are significant red flags. While some positive reviews exist, they are outnumbered by negative ones, and some positive reviews appear suspiciously generic or promotional, raising concerns about authenticity.

2. Risk Level Assessment ¶

Based on the complaints and other factors, MogaFX presents a high-risk profile for traders. Key risk indicators include:

• Withdrawal Issues: Repeated reports of delayed or rejected withdrawals, often with excuses like “too many withdrawal requests” or requirements to deposit more funds, suggest potential liquidity issues or intentional stalling tactics.
• High Minimum Deposits: The minimum deposit for a Standard account is $1,000, which is 10 times the industry average of ~$100. This is a barrier for retail traders and increases financial exposure.
• High Leverage: MogaFX offers leverage up to 1:500, which is risky for inexperienced traders and banned in many regulated jurisdictions (e.g., the EU and Australia limit leverage to 1:30). High leverage can amplify losses, and offering it in unregulated entities raises concerns about client protection.
• Low Trust Scores: Platforms like ScamAdviser and WikiFX assign low trust scores due to complaints, suspicious regulatory claims, and lack of transparency.
• Website Functionality: Reports indicate the website and trading platforms (e.g., web-based trader) have been non-functional since January 2024, with no updates to MetaTrader 4 servers, suggesting potential abandonment or operational failure. Risk Level: High. The combination of withdrawal issues, high financial entry barriers, risky trading conditions, and operational red flags indicates significant risk for investors.

3. Website Security Tools ¶

The security of mogafx.com raises concerns based on available analyses:

• SSL Certificate: The website uses an SSL certificate, ensuring encrypted data transmission, which is standard for financial platforms. However, SSL alone does not guarantee legitimacy.
• ScamAdviser Analysis: The site’s trust score is low, partly due to its hosting in a high-risk country (see IP and Hosting Analysis) and lack of transparency in ownership.
• Broken Functionality: Multiple reports note that the website has been non-operational since January 2024, and links to web-based trading platforms are broken. This suggests poor maintenance or potential abandonment, increasing security risks for users with active accounts.
• No Advanced Security Features: There is no mention of two-factor authentication (2FA), IP whitelisting, or other advanced security measures for user accounts, which are common among reputable brokers. Analysis: While basic encryption is present, the non-functional website, low trust scores, and lack of advanced security features are concerning. Users should be cautious about sharing personal or financial information.

4. WHOIS Lookup ¶

A WHOIS lookup for mogafx.com provides the following insights:

• Domain Age: The domain was registered on October 5, 2020, making it relatively young (less than 5 years old). Young domains are often associated with higher scam risks, as established brokers typically have older domains.
• Registrar: The domain is registered through GoDaddy, a common registrar, which is neutral in terms of risk.
• Registrant Information: WHOIS data is likely redacted for privacy, as is standard with modern domain registrations. This limits transparency about the true owners, which is a minor red flag in the context of financial services.
• Domain Updates: The domain was last updated in February 2025, suggesting it is still active, but this contrasts with reports of the website being non-functional since January 2024. Analysis: The young domain age and lack of transparent registrant information are minor concerns. The discrepancy between recent domain updates and reported website issues suggests operational inconsistencies.

5. IP and Hosting Analysis ¶

The IP and hosting details of mogafx.com raise additional concerns:

• Hosting Location: The server is based in a country flagged as high-risk by the International Banking Federation for fraud and corruption. This increases the risk profile, as reputable brokers typically host servers in regulated jurisdictions like the US, UK, or EU.
• IP Address: Specific IP details are not provided in the references, but the high-risk hosting location is a consistent concern across analyses.
• Hosting Provider: The provider is not explicitly named, but the association with a high-risk jurisdiction suggests it may not be a top-tier provider like AWS or Google Cloud, which reputable brokers often use. Analysis: Hosting in a high-risk jurisdiction is a significant red flag, as it may indicate attempts to evade regulatory oversight or accountability. This aligns with complaints about unresponsiveness and withdrawal issues.

6. Social Media Presence ¶

MogaFX’s social media presence is limited and poorly documented:

• Official Channels: The website does not prominently link to official social media accounts (e.g., Twitter/X, Facebook, LinkedIn), which is unusual for a broker aiming to build trust.
• User Mentions: Posts on platforms like Trustpilot and Forex Peace Army mention MogaFX, but these are primarily complaints rather than organic engagement. There is no evidence of active community engagement or marketing campaigns on social media.
• Suspicious Reviews: Some positive reviews on Trustpilot appear promotional and may be from fake accounts or employees, as noted by Forex Peace Army, which banned MogaFX representatives for posting fake reviews. Analysis: The lack of a robust social media presence and reliance on potentially manipulated reviews suggest limited transparency and engagement. Reputable brokers typically maintain active, verified social media accounts to communicate with clients.

7. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

• Withdrawal Delays and Refusals: Numerous users report inability to withdraw funds, with excuses like “processing queues” or requirements to deposit more money.
• High Minimum Deposits: The $1,000 minimum deposit is unusually high, potentially targeting inexperienced traders with large sums while deterring smaller, cautious investors.
• Uncompetitive Spreads and Slippage: Users report spreads higher than advertised (e.g., over 1 pip on EURUSD) and significant slippage, indicating poor trading conditions.
• Website and Platform Issues: The website’s non-functionality since January 2024 and broken web-based trading platforms suggest operational failure or abandonment.
• Fake Reviews and Spam: Forex Peace Army documented MogaFX employees posting fake reviews and spamming forums, indicating attempts to manipulate public perception.
• High Leverage in Unregulated Entities: Offering 1:500 leverage through the St. Vincent and the Grenadines entity, which lacks strong regulation, is risky and potentially predatory.
• Unverified Office Locations: Users report that claimed offices in Australia and St. Vincent and the Grenadines do not exist, suggesting false claims about physical presence. Analysis: The cumulative effect of these red flags—particularly withdrawal issues, fake reviews, and operational failures—strongly suggests that MogaFX is not a trustworthy broker.

8. Website Content Analysis ¶

The content on mogafx.com (as described in references) includes standard broker offerings but also raises concerns:

• Claims of Regulation: The website claims regulation by the Australian Securities and Investments Commission (ASIC) for Moga AU and registration with the St. Vincent and the Grenadines Financial Services Authority (SVG FSA) for Moga SV. However, ASIC regulation applies only to wholesale clients, and SVG FSA is not a robust regulator, offering minimal oversight.
• Trading Platforms: MogaFX promotes MetaTrader 4 (MT4), MetaTrader 5 (MT5), and a proprietary copy trading tool, MOGA Trade Plus+. However, the web-based platform is reported as non-functional, and spreads are uncompetitive.
• Educational Content: The site offers a Trading Academy with webinars, tutorials, and market analysis, which is positive but standard for brokers. There are no unique features that distinguish it from competitors.
• Risk Warnings: The website includes standard risk warnings about forex trading and leverage, which is required but does not mitigate other concerns.
• Promotional Offers: References mention bonuses (e.g., 2022 New Year Promotion), but terms include high trading volume requirements (e.g., $100,000 turnover for a $5 bonus), making them difficult to access. Analysis: The website’s content is professional but generic, with exaggerated claims about regulation and trading conditions. The non-functional platform and restrictive bonus terms undermine credibility.

9. Regulatory Status ¶

MogaFX’s regulatory status is complex and misleading:

• Moga AU (Australia): Moga International Group Pty Ltd is regulated by ASIC (license number 501156) but only for wholesale and sophisticated clients, not retail traders. ASIC is a reputable regulator, but this limited scope means retail clients do not benefit from its protections.
• Moga SV (St. Vincent and the Grenadines): Moga International Group LLC is registered with the SVG FSA (company number 532 LLC 2020) and regulated by the Mwali International Services Authority (MISA), both of which are weak regulators with minimal oversight. MISA is particularly criticized for lax standards.
• Moga NZL (New Zealand): Moga International Group LIMITED is licensed by the New Zealand Financial Markets Authority (NZ FMA, FSP number 1002414), but this is a recent incorporation (2022), and its scope is unclear.
• WikiFX Warning: MogaFX is listed on WikiFX’s Scam Brokers list, with expired licenses and illegal operations noted.
• Misleading Claims: The website emphasizes ASIC regulation to appear trustworthy, but most clients (especially international ones) fall under the unregulated Moga SV entity, which lacks client fund segregation or compensation schemes. Analysis: The ASIC regulation is limited to a small client base, and the SVG and MISA affiliations offer little protection. The emphasis on ASIC while routing most clients to an unregulated entity is deceptive and a major red flag.

10. User Precautions ¶

To protect themselves, users considering MogaFX should take the following precautions:

• Avoid Depositing Funds: Given the high volume of withdrawal complaints, refrain from depositing money until MogaFX resolves these issues and improves transparency.
• Verify Regulatory Status: Check the specific entity (Moga AU, SV, or NZL) you are dealing with and confirm its regulatory scope. Use official regulator websites (e.g., ASIC, NZ FMA) to verify licenses.
• Test with Small Amounts: If you must engage, deposit the minimum amount ($1,000) and attempt a withdrawal early to test reliability.
• Use Chargeback-Friendly Payment Methods: Opt for credit cards or payment methods like Skrill, which allow chargebacks within 540 days, rather than cryptocurrencies or wire transfers.
• Research Reviews: Cross-reference reviews on Trustpilot, Forex Peace Army, and WikiFX, but be wary of overly positive reviews that may be fake.
• Monitor Account Activity: Regularly check account access and platform functionality, as reports of sudden lockouts are common.
• Consult Professionals: If scammed, contact services like MyChargeBack for chargeback assistance or local authorities to report fraud. Analysis: Users must exercise extreme caution due to the high risk of financial loss. Prioritizing regulated brokers with strong oversight (e.g., FCA, CySEC) is safer.

11. Potential Brand Confusion ¶

MogaFX’s branding and naming may cause confusion with other entities:

• Similar Names: The name “MogaFX” is close to other financial or trading platforms, such as “Moglix” (an Indian B2B marketplace, unrelated to forex). This could confuse users searching for legitimate platforms.
• Mogflix.com: A separate domain, mogflix.com, has an extremely low trust score (6.6/100) and is flagged as suspicious, potentially causing confusion with mogafx.com. It is unclear if the two are related, but the similarity in naming is a risk.
• Multiple Entities: MogaFX operates under different entities (Moga AU, Moga SV, Moga NZL), which may confuse clients about which entity they are dealing with and its regulatory status.
• Misleading Regulation Claims: The emphasis on ASIC regulation may lead users to assume all MogaFX services are tightly regulated, when most clients fall under the unregulated Moga SV entity. Analysis: The potential for brand confusion, especially with unregulated or suspicious entities like mogflix.com, increases the risk of users mistakenly engaging with MogaFX. The use of multiple entities with varying regulatory statuses further complicates trust.

12. Conclusion and Recommendations ¶

MogaFX (Moga International Group LLC) presents a high-risk option for traders due to the following:

• Critical Issues: Widespread complaints about withdrawal failures, non-functional platforms, and unresponsive support strongly suggest scam-like behavior or severe operational issues.
• Regulatory Weaknesses: While the Moga AU entity is ASIC-regulated, it serves only wholesale clients. The Moga SV entity, which handles most international clients, operates under weak regulation (SVG FSA, MISA), offering little protection.
• Red Flags: High minimum deposits, fake reviews, unverified office locations, and a non-functional website since January 2024 indicate untrustworthiness.
• Risky Conditions: High leverage (1:500), uncompetitive spreads, and restrictive bonus terms are predatory for retail traders. Recommendations:
• Avoid MogaFX: Given the high risk and numerous red flags, traders should steer clear until significant improvements are made (e.g., resolving withdrawal issues, enhancing regulatory oversight).
• Choose Reputable Brokers: Opt for brokers regulated by top-tier authorities like the FCA (UK), CySEC (EU), or ASIC (for retail clients), with transparent operations and positive user feedback.
• Due Diligence: Always verify a broker’s regulatory status, read independent reviews, and test platforms with small deposits before committing significant funds.
• Report Issues: If you have lost money to MogaFX, report to local authorities and consider services like MyChargeBack for recovery. Final Note: The evidence overwhelmingly points to MogaFX being an unreliable and potentially fraudulent broker. Traders should prioritize safety by choosing well-regulated alternatives with proven track records.

If you need further details or analysis on specific aspects (e.g., a deeper dive into a particular complaint or regulatory document), please let me know!