MAGIC COMPASS

Magic Compass is a Cyprus-based investment firm established on 6 May 2019 and registered at Sarlo 9, Ayios Athanasios, 4106 Limassol, Cyprus. The company operates as a retail forex and CFD broker, providing traders with access to multiple financial markets through a single account. It is part of the European regulatory framework, supervised by the Cyprus Securities and Exchange Commission.

The broker's official website positions it as a provider of trading and investment solutions, with a focus on delivering a user-friendly experience via the MetaTrader 4 platform. Magic Compass also offers supplementary tools such as economic calendars and real-time quotes, aiming to support traders in their decision-making process.

Magic Compass is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 299/16. This regulatory status subjects the broker to the oversight of an EU-recognized authority, requiring adherence to capital adequacy, client fund segregation, and reporting standards. CySEC regulation also permits the firm to offer services across other EU member states through passporting.

The broker’s regulatory standing is a key indicator of its legitimacy. CySEC is a well-established regulator, and compliance with its rules provides a baseline of investor protection. However, clients should be aware that CySEC regulation does not offer the same level of compensation coverage as some other jurisdictions.

Magic Compass offers three distinct account tiers: Silver, Gold, and Raw Spread. The Silver Account requires a minimum deposit of 100 USD/EUR/GBP and offers a maximum leverage of 1:5. The Gold Account has a minimum deposit of 2,500 and increases the leverage ceiling to 1:20. The Raw Spread Account targets more active traders with a higher minimum deposit of 5,000, but the maximum leverage on this account remains at 1:10 according to the known facts, although the website indicates leverage is available across all accounts in a range (1:5, 1:10, 1:20).

All accounts allow trading in the same instruments—Forex, Metals, Energy, and Spot Indices—and are denominated in USD, EUR, or GBP. The broker does not charge extra margin for opening lock positions, provided the margin level remains above 100%. The Raw Spread Account is advertised with raw spreads, meaning the spread is passed through as received from liquidity providers with no additional markup.

The broker exclusively offers the MetaTrader 4 (MT4) platform, a widely recognized trading terminal in the retail forex industry. MT4 is available for desktop (Windows and Mac), iOS, and Android devices, allowing traders to access their accounts from various devices. The platform includes features such as preinstalled indicators, real-time alerts, and support for automated trading via Expert Advisors.

Magic Compass provides CFDs on over 20 forex pairs, as well as metals, energy commodities, and spot indices. The broker claims fast order execution and tight spreads, although specific spread details are not disclosed on the website. The choice of instruments is relatively standard for a retail CFD broker, with no offerings in stocks or cryptocurrencies.

Client fund protection is a priority for Magic Compass, which offers Negative Balance Protection as a key safeguard. This ensures that traders cannot lose more money than they have deposited, a feature required under CySEC regulation. The broker accepts deposits via bank wire, Visa, Visa Electron, and MasterCard, with no service charges applied and processing times of approximately two hours for card deposits.

Third-party deposits are not permitted, and all withdrawals are processed back to the original funding source. The broker provides a dealing desk and back-office support via email. The registered address and contact details are clearly listed on the website, adding a layer of transparency.

Magic Compass is a modestly sized broker operating under CySEC regulation, with a clean record according to aggregated industry databases. Its account structure caters to a range of trader budgets, although the high minimum deposit for the Raw Spread Account may deter some retail clients. The exclusive use of MT4 is both a strength (familiar platform) and a limitation (no MT5 or proprietary alternatives).

For traders who prefer a regulated European broker with negative balance protection and straightforward account options, Magic Compass offers a functional setup. However, the absence of independent user reviews means that real-world trading conditions remain unverified, suggesting that potential clients should exercise due diligence before committing funds.