freetrade
mgk global
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Overview
freetrade was founded in 2016 and is headquartered in United Kingdom, while mgk global was established in 2011 and is based in Cayman Islands. freetrade holds licences including Financial Conduct Authority. Registered in England and Wales (no. 09797821), while mgk global is regulated by Financial Conduct Authority (FCA) among others. freetrade serves 890,000+ clients worldwide; mgk global has 10,000+. The minimum deposit is $0 at freetrade and $250 at mgk global.
| Feature | freetrade | mgk global |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Financial Conduct Authority. Registered in England and Wales (no. 09797821) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F278 |
| Founded | 2016 | 2011 |
| Country | United Kingdom | Cayman Islands |
| Clients | 890,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between freetrade and mgk global, directly affecting your bottom line as a trader. freetrade has a lower barrier to entry with a minimum deposit of $0 (vs $250 at mgk global). mgk global charges withdrawal fees while freetrade does not, giving freetrade an edge for frequent withdrawers. mgk global charges deposit fees; freetrade does not. Overall, freetrade scores higher on fees in our assessment.
| Feature | freetrade | mgk global |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
freetrade offers MT4, MT5, cTrader, a proprietary platform, while mgk global supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. freetrade supports social and copy trading features, which mgk global does not offer. freetrade edges ahead on platform breadth and functionality in our scoring.
| Feature | freetrade | mgk global |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how freetrade and mgk global compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | freetrade | mgk global |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. freetrade accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while mgk global supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | freetrade | mgk global |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both freetrade and mgk global offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | freetrade | mgk global |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |