FX Magnus (Fxmagnus.net) Review: Professional and Secure Trading or a Scam?

FX Magnus - logo

Some brokers out there are nothing more than scams. FX Magnus is a broker that claims to offer professional, simple, and secure trading. However, after conducting our research and analyzing multiple reviews, we are not entirely convinced. We will reveal what we have found.

FX Magnus General Information

Website https://www.fxmagnus.com/, https://www.fxmagnus.net/
Phone Number +447418352237, +442081579459
Email support@fxmagnus.com
Address Harju maakond, Tallinn, Mustamäe linnaosa, Mäealuse tn 3, 12618, Estonia.
Minimum Deposit $250
Assets CFDs
Leverage Up to 1:1000
Trading Platform WebTrader

Registration and Client Portal Review

The official website greets clients with an animated intro. On the video, you can observe the work of the support team, charts, and endless graphs. However, there’s nothing particularly interesting on this platform. It has a standard description of accounts, listing the broker’s advantages, a live chat, and other basic features. In addition, the legal information is indicated in the footer. Interestingly, the broker seems to be Estonian, but only English, Japanese, and Korean languages are presented on the platform.

FX Magnus - website

Creating an account with FX Magnus is quite simple. You will need to fill out a form with your personal information and create a password. Interestingly, system does not verify your contacts. You can enter anything you like, and the broker will not verify it. This is problematic because it can allow fraudulent activities to take place.


The Client Portal looks minimalist. All the main features are collected in a small menu on the left. Here you can top up your account, withdraw funds, access the web terminal, or download the desktop version. In addition, in the client portal, you can contact support, upload documents, or view trading history.

FX Magnus - Client Portal

FX Magnus Trading Conditions

Obviosly, it is a classic CFD broker. It is unlikely to find any exceptional trading conditions here.

Account Types

The brokerage firm adheres to a classic division into several accounts. The Classic starter account only needs to be deposited with $250. At the same time, you will immediately receive the services of a personal manager and even leverage up to 1:100. In addition to this, you will have access to other additional conditions, such as daily recommendations. The next account is called Golden. The minimum deposit for it is already $25,000. Here, there is an increased leverage of up to 1:200, a personal trainer, and VIP support.

Other accounts differ only in leverage and the presence of personal assistants, managers, and other features. However, FX Magnus does not indicate other important things, such as the size of spreads, swaps, or other fees. We should also note that there is no demo account here, only a real trading account.

Trading Platform

The trading platform is quite mediocre. It offers both a web trader and a desktop version, but neither of them stand out in any particular way. The web trader is functional but lacks advanced features and customization options. As for the desktop version, it is clunky and outdated. In addition, it’s worth mentioning that this particular trading platform is often used by scammers to lure traders into fraudulent schemes.

FX Magnus — Deposit and Withdrawal of Funds

Managers offer several methods to deposit funds, including credit cards, bank transfers, and electronic payment systems. However, specific payment systems are not mentioned. Withdrawal options are limited to cards and bank transfers.


FX Magnus requires all traders to go through a verification process. The verification process involves providing the broker with personal identification documents, such as a passport or ID card, as well as proof of address, such as a utility bill or bank statement. Once the documents are submitted, the verification process typically takes a few business days. Upon successful completion of the verification process, clients can start trading on the platform. It is important to note that failure to complete the verification process may result in restrictions on trading activities or account closure.

Additional Options

Among the additional services provided are market analysis, personal support from managers, and training. Unfortunately, the entire broker team remains anonymous, so we cannot judge the quality of the analysis and education they provide.

Is FX Magnus a Scam?

It has not yet impressed us as being straightforward and safe. Some of its problems are visible to the bare eye.

Judging by the languages FX Magnus has added to its website, it appears to be targeting traders from Korea and Japan. However, it is surprising that the company is registered in Estonia. In the Estonian register, there is CLOUDVIEW OÜ, which was incorporated four years ago. However, this company has a specific type of activity, which is not brokerage services but “Other business support service activities.” Additionally, this company has no license for brokerage activities and has a capital of only 2,500 euros, one hired employee, and zero income for the past three years.

Legal data check

We are leading to the conclusion that CLOUDVIEW OÜ is not a broker at all. The project is simply using another company’s data. Furthermore, licenses from local regulators are also required to operate in Korea and Japan. Therefore, this broker is providing services illegally.

Fxmagnus.net Domain Info

The company that FX Magnus calls its manager was registered four years ago. However, this broker operates much less. You will not find dozens of articles about it on the internet or hundreds of reviews. A domain check revealed that it was registered on October 20, 2022.

Domain info

This article has been updated. Like many other scam brokers, the owners of this project changed their domain. The current domain fxmagnus.net expires in December 2024.

Contacts Review

FX Magnus provides a phone number and email address for contact, as well as an office address. However, the office address does not match the company’s legal address, which further confirms our suspicion that the broker is impersonating another legal entity.

Pros and Cons

  • Low minimum deposit.
  • Fake legal data
  • No license
  • High leverage
  • Short operation period
  • Dubious additional services.

Frequently Asked Questions (FAQ)

What Does FX Magnus Offer?

It offers CFD trading on different types of assets.

How Much Money Should I Invest With FX Magnus?

According to the Terms and Conditions, you should deposit at least $250.

Is FX Magnus Safe?

No, it is not. It is another pseudo-broker who didn’t bother to get a license for its work. Instead, it uses the legal details of another company in an attempt to deceive traders.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Michele


    Hello. I couldn’t even last a week with FX Magnus. Everything is done so poorly here that I just lost $250, mostly due to the broker’s own fault. Sometimes their platform freezes at the moment of opening a trade, and it’s no longer as profitable for me. Other times, their managers will spam calls during trading, trying to distract and confuse me. And profitability unexpectedly drops sharply, leaving you with only pennies in return, while you always lose 100% of the amount you bet. I lost half of my money on recommendations from these thieves, who apparently gave me signals not to earn, but to lose. In short, I just lost my whole deposit. Of course, I gained experience, but why do I need such experience?

  2. Nick

    It can be confidently said that FX Magnus is not a legit garbage company.

    There can be no such thing as a CFD broker from Estonia operating in Korea and Japan. In these countries, there is a special attitude towards CFDs. Working with unlicensed brokers there is illegal and even theoretically impossible. What can I say, these scammers hastily put together their site from sticks and mud. It’s funny, just funny, how these scammers behave foolishly. Their legend is not worth a dime.

  3. Noah

    I have already had dealings with them and will not go there again.

    It was enough for me that immediately after registration and transfer of funds, the managers stopped responding to messages for some reason. The employees are just rude and apparently rarely monitor their speech. In general, at some point, I realized that they were scamming me when they rudely asked for more money to be deposited into the account. Of course, I refused. After that, my account was simply blocked. A week later, they called me back and said they had changed their minds. They said it was enough to invest another $1,000 to unlock my account. Of course, I refused.

  4. Kent

    Funds cannot be withdrawn

    This is my personal negative experience of trading with FX Magnus. I got into it by recommendation. A representative of this fraudulent company contacted me on Telegram and offered to trade. Being a novice, I believed and invested.
    And I was lucky that I’m not a wealthy person, so I only invested $250, which I had saved from my salary. Of course, it was impossible to trade on this money. I constantly lost a little bit at a time. Towards the end, I managed to recoup some of the losses and return to the account balance of $180. I hoped to keep this money, but it was foolish to think that I could withdraw it. Of course, they do not process my withdrawal request, so I cannot get my funds back. But I can tell this sad story of how not to do it and who not to trust.

  5. モリ マサノリ




  6. Crow



  7. sun moon

    fx magnus

    fX magnus 단체는 전문적인 사기꾼입니다.
    투자금도 모자라 돈을 부쳐준다고 수수료 까지 받아 사기칩니다.
    절대 속지 마세요.
    그리고 이런 사기집단이 인터넷으로 홍보를 하는데 정부에서는 왜 응징을 하지 않는지 이해가 안 갑니다.
    속지 말아야지만 속은 나의 잘못도 인정하지만 정부에게도 바랍니다.
    빨리 사라질수 있도록 노력해 주세요.이 사기 단체에 대해 알고 싶다면 누구라도 연락주세요.
    위 메일로.

  8. suzume



  9. 거북이

    보증금 수수료 사기당함 인출댐니다

    FXMAGNUS 에 절대 투자하지마세요
    사기입니다. 초기가입금 247달러. 추가거레할려면2500달러지불해야
    거레가 가능함. 거레후 수익 나면 인출해준다하여 인출 요청을 함
    인출할려면 추가수수료 납부해야 출금이됀다고함 추가수수료받아 챙기고
    출금은 안돼고 관리자와 연락도 안돼고 이메일을 보네도 아무 답 이었습니다
    FXMAGNUS 는 사기 샤이트입니다. 보증금 수수료 수익금 모두 사기당하였습나다
    철도 투자하지마세요

  10. Kimdongha

    보증금 수수료 사기당함

    FXMAGNUS 절대투자금지
    초기보증금247달러 추가로 거레을위한 2500달러 관리자가 연락이옴닉다
    거레을하기위해서는 도와준다고 거레후 수익금이9700불 보중금포함
    인출6765불을 인출요청 하고. 나머지는 다음거레금으로 남겨두고
    관리자가 인출을요청함 도와 준다고함
    제무부에서 전화가 결려와서 수수료 을 납부해야 출금이됀다고함
    수수료3차레납부. 2978달러 현금송금하였고. 수수료가 정상적으로입금학인돼면
    1시간네로 지급이완료됀다고함 그후 지급은안좨있습니다 관리자 연락도 안 되는 것입니다 이메일을보네어도 아무런답이없습니다 FXMAGNUS 는 사기 샤이트입니다
    절대투자금지 사기입니다. 보증금 수수료 5725달러모두 사기당하였습나다
    돌려받을 방법이 없나요.