MAGIC KEY LTD: real customer reviews about the company in 2024
Gullibility and inexperience are the main reasons why newcomers often face financial risks and lose money. The first impression from a trading agent can be deceptive, so it is worth being cautious and not believing empty promises. The absence of reviews only serves as a convenient pretext for scammers. Today we will consider one of such intermediaries – MAGIC KEY LTD. We will familiarize ourselves with the results of checking the legal base, terms of cooperation, and other important facts.
Important points about MAGIC KEY LTD
According to information, MAGIC KEY LTD has a large number of satisfied clients. According to statistics, more than 8 million clients from different countries have used the services of the intermediary, and the daily turnover of transactions exceeds 35,000. The company points to active business development and expansion of geography (according to them, they are already operating in 16 countries), however, these claims are unconvincing, considering that the broker’s website is only available in Russian.
Also, thanks to the whois service, it was possible to establish the actual duration of the company’s existence. The domain magic-key.ltd was registered in July 2023. Obviously, in such a short period, the company could not have achieved such impressive results as they claim. Furthermore, the young age of the company explains the lack of reviews about this intermediary.
Trading opportunities with MAGIC KEY LTD can bring many problems. It is important to note that there is no reliable customer service here. The only available way to contact employees is via email. This method is not optimal for effectively resolving issues.
There is no information about the top managers of the company on the website. The lack of access to names and photos creates a certain anonymity, which is characteristic of many dubious forex platforms.
Results of checking the legal base
MAGIC KEY LTD tries to disguise its actions from potential victims. To avoid suspicion, scammers provide scan copies of licenses on their website. However, it is assumed that depositors will not verify the authenticity of these documents. Otherwise, they could see the falsity of the presented papers, which are worthless.
Additionally, the website lists an office address in the UK. The conditions for brokerage activities in this country are quite strict. To operate legally, a trading agent must register as a legal entity and obtain approval from the regulator FCA. In the Companies House database, we found a company named MAGIC KEY LTD, which was registered in October 2021. However, several peculiarities should be taken into account:
- in 2021, this company did not exist,
- the Companies House register is publicly available, so the data from it can be used by anyone,
- the main activity of the real MAGIC KEY LTD is the sale of fuel, ore, metals, and chemicals,
- the company does not have an FCA license and offers services on an illegal basis.
Features of the offer for clients
MAGIC KEY LTD does not bother with a detailed description of its tariff plans. Cooperation terms are only available to authorized users. Nevertheless, the following aspects can be highlighted:
- minimum entry amount – $300,
- maximum leverage – up to 1:400 (for currency pairs),
- free access to informational materials – news, daily analytics, and updates.
Reviews confirming the ability to earn and withdraw profits on this trading platform have not been found yet.
Absence of reviews – why?
There are no reviews about MAGIC KEY LTD due to the recent provision of services by the company. However, the situation is constantly changing, as scammers will not stop their activities.
If you have information, leave your review under this article. The more information provided, the better. This will help other people understand and avoid financial risks.
Scam scheme in MAGIC KEY LTD
In MAGIC KEY LTD, newcomers are persuaded to install a program for remote access. It is assumed that it is necessary for practical training and assistance in making transactions. However, in reality, scammers are interested in gaining access to the user’s personal account and account. In case of a significant amount appearing in the balance, fraudsters will cite a technical malfunction and steal all the money. Proving the fraud of this company’s parties is difficult. It is recommended to seek help from lawyers and try to initiate a chargeback procedure.
Results of comprehensive verification
Cooperation with MAGIC KEY LTD is not recommended as the company lacks legal grounds for activity. The fraudulent organization will continue to deceive and extort funds. This pseudo-broker is blacklisted!
My experience with MAGIC KEY LTD in 2024 was simply terrible. I found their brokers to be unresponsive and lacking in knowledge about the market. When they offered advice, it often felt like it was barely researched or thought through. Their lack of professionalism really shone through when it came to handling my portfolio – they showed no interest in understanding my needs or goals before recommending investments. The fees were also incredibly high for the poor service they provided. Additionally, there were several instances where I had to follow up multiple times just to get a response, which is not something one would anticipate from a professional firm. Overall, I felt as though I was being taken advantage of and regret entrusting them with my finances.