MC

MC is a financial services provider registered in Hong Kong, established on 23 November 2017. It operates under the name Magic Compass New Zealand Limited and is primarily associated with precious metals trading and forex execution services.

The company's registered address is in Auckland, New Zealand, although its primary operations are based in Hong Kong. With a history spanning 5-10 years, the firm has sought to establish itself in the competitive brokerage market.

MC holds regulatory registrations with three entities: the Hong Kong Gold and Silver Exchange Society (HKGX) for precious metals trading, the Cyprus Securities and Exchange Commission (CYSEC) for market making activities, and the New Zealand Financial Service Providers Register (FSPR) for institutional forex execution on a straight-through processing (STP) basis.

However, the legitimacy of these licences has been questioned. The HKGX is actually the Chinese Gold & Silver Exchange Society (CGSE), which is under scrutiny and alleged to be a "fake platform" by some sources. Similarly, the FSPR registration is not equivalent to a full regulatory licence in New Zealand, and the CYSEC status remains unclear. This raises serious concerns about the broker's regulatory standing.

According to its regulatory filings, MC offers services in precious metals trading, market making, and institutional forex execution. The company appears to target both retail and institutional clients, though specific product details are unavailable due to the lack of an official website.

The broker's offering includes leverage and CFD-style trading, common in retail forex brokerage. However, the absence of transparent information on spreads, commissions, or trading platforms makes it difficult to assess its service quality.

No official information on account types is available for MC. Industry databases do not provide details on minimum deposits, leverage options, or account tiers.

This lack of transparency is a significant red flag, as reputable brokers typically publish comprehensive account information.

FXCanary has assigned MC a Scam Risk Score of 85 out of 100, indicating severe risk. This high score reflects the combination of regulatory concerns, absence of verified user reviews, and lack of publicly available information.

Traders are strongly advised to exercise extreme caution when considering this broker. The unverifiable regulatory status and missing official website make due diligence nearly impossible.