No, there is no compulsory requirement for money deposit. However, if you wish to trade then you are supposed to deposit money.
The minimum amount should be 500 in Euro, 500 in USD and 500 in GPB. You are free to make the initial deposit in the currencies of your choice
Basically, SWIFT is an identification code and it is unique to each and every bank. SWIFT is needed to transfer money between banks. You can get the SWIFT code from your bank. In case the SWIFT code is only of eight digits, you should add XXX at the end.
We at MGC Logic have kept a wire transfer amount of USD 500 (JPY50,000). We also charge a commission of USD 25 (JPY 2500) added to the wire transfer. We will initiate and complete the wire transfers only if the customer adheres to the guidelines that are available on banking page under the section Wire Transfer.
A copy of the wire transfer should also be sent to us at [email protected].
The process may take up to five business days for the funds to appear in your MGC Logic account.
For your information, there is a window of two businesses that are designated as a period of examination in MGC Logic from the day that the payment request was received. After that examination period, the remittance to the customer will be completed within 5-7 business days. For any information and queries, please do not hesitate to contact us.
You can use credit cards (Mastercard, Visa or Maestro) wire transfer and also debit cards can be used.
In order for a deposit or withdrawal to be activated, proper documentation has to be submitted to [email protected] by e-mail. You can also have it faxed once the MGC Logic account has been established.
The documentation should have the following:
The above are the simple requirements before a customer can deposit and withdraw funds from his or her account.
SWIFT code is a special and unique code for easy identification of every bank from where money is transferred. Contact your bank and they will help you with the right SWIFT code. Some SWIFT codes could have only eight digits in which case XXX has to be inserted at the end.
Personal detail updating is quite simple. You access My Account>> Personal Details for updating it. You can also send a mail to us providing details about the necessary changes and updates that you want to make in your personal details.
There is a “forgot password” button. You need to click on it and this will generate a new password which will be sent to your e-mail.
No, there is no registration fee.
We are a fully-functional MGC Logic Support Team and can be contacted by given phone number for your area in the contact us page. We also are available over mail at [email protected]
MGC Logic has a simple registration process:
Our dedicated team at MGC Logic will be there to help you out. Contact us by mail, phone, and also use our live chat facility available at page bottom.
Go to “My Account” section. You will get all information, history and various details related to portfolios, deposits and withdrawals. You should be logged in for viewing the above information.
You can start off by clicking “call” button, if you believe that the price of the chosen asset will be rise by expiry. The “put” button has to be activated if you feel the price of an asset could move down before expiry time.
Once put and call decision has been made, the amount you plan to invest must be decided. Then your trade will have to be approved. You also can cancel the trade by choosing “X” at any point before the trade has been approved. The updating rates are available in the investment box.
Put means the choice of an option for downward movement of the price of an asset. This is a button to click if an asset is expected to move down before expiry time.
Call refers to a decision based on an expected upward movement of the price of an asset. Hence, this button should be activated if the asset price should move upwards.
A commodity, index, stock, currency pair or any other financial asset that constitutes the basis for creating an option.
Asset Index is the place where you will get all information related to expiry times, brief description, assets available, symbols, trading hours and so on. It is available at homepage.
Many factors determine the return on investment. Percentile is an important factor. It is displayed for the offer you are deciding to trade on. Each option comes with separate percentages. MGC Logic offers percentages ranging from 70 to 85%. This is for cryptos that are traditional. We also offer One Touch options where the percentage of returns could be as high as 550%.
In case of an Option Expire Situation, MGC Logic gives around 10% as ROI. The 10% return gets transferred to the account holder.
Rates are the quoted priced of underlying assets. It is the price offered by MGC Logic, based on live feeds. The rates offered by MGC Logic will be different from market by a few pips. The rates offered and available in a trading session are the rates at which MGC Logic would be selling their options for.
It is the price that an underlying asset will fetch when expiration time happens. This is decided based on feed provider of MGC Logic. This is important as it decides if the option is alive or expired. It could be either in Out of Money or In The Money.
The date and time at which the option expires is the expiration time.
MGC Logic crypto rates keep changing because of a dynamic market. It could change each second. Our pricing engine is impacted by market changes. The rates we offer are in real time. The rates are captured with best of technologies, so no time lag is there. We also offer our customers option to cancel their trade if they were not able to get the expected rates.
We also have a rate analysis that is user friendly. A blinking movement helps to record price fluctuation. We also provide a color indicator. It blinks green with upward movement and red with download movement.
Required measures are taken for total security and complete safety. We have the best of SSL or secure sockets layer. All payments are therefore fully encrypted when made through credit cards. The whole thing is automated and in case of browser malfunction, the customer will get an immediate notification.
There is no need for any software installation. This is because the platform offered by MGC Logic is fully web-based. Customers just have to login to their accounts and trade. All that is needed is an internet connection and a suitable device.
Customers have to use Asset Index Page where they can get details of assets, its description, expiry times, symbols and trading hours. You can use the link available in the Asset Index Page for this purpose.
It is GMT +0 timing. It is synchronized to market time.
Green indicates upward movement and red talks about downward price movement of crypto.
when a crypto nears expiry time, the system automatically changes it to out-of-the-money. If traders believe that the asset might move according to his or her prediction, he or she can delay the expiration time. This is what rollover feature is about. However, the following conditions are to be met:
If the customer is close to expiry time, and believes that the direction he has chosen is on a roll, then he can repeat the action again by clicking on “Double Up”. In other words, the customer can create a new trade following the same conditions and using the same price. Double up could help to double investment and double profits. Other benefits are:
Lack of sufficient funds is the most common for not being able to trade. Trying to trade beyond trading hours could be another reason. Other than the above, for any other reason customers can contact [email protected], or by phone.
This depends on the type of cryptocurrency. For long term and pairs the maximum limit is 1,500 USD or Euro for 60 Seconds and Ladder. the investment amount can reach €/$ 250 and at One Touch Options you can invest up to €/$ 500 per position.
Euro and USD are preferred currencies for opening trading account. Currency selection once fixed cannot be changed and therefore care should be exercised.
No deposit fees for debit card/credit card. Minimum deposit 110 USD or Euro.
Maximum deposit 5,000 USD or Euro.
When deposit is made using wire transfer, transfer fee might have to be paid. 100 Euro or USD is minimum deposit
No maximum deposit amount cap.
No third party funding permitted. You have to fund your crypto deposit account from your own account. No third party funding of your account is allowed. It has to be funded out of your account.
Customers of MGC Logic must adhere to the following instructions for withdrawal.
Once withdrawal request is originated, funds will get transferred. This will follow the same method that was originally used for funding trading account. A withdrawal form is available and it should be filled out. You can find it in My Account>>Withdrawal.
How to fill the form
Ensure all required fields are filled pertaining to client information. All information that is relevant must be fill Credit card details wire transfer details should also be mentioned.
This is based on withdrawal method chosen. Credit/Debit card withdrawal is easy and you need to fill only card holder name and last four digits of card nu For wire transfer, please go by the following guidelines:
Mention your bank as beneficiary bank.
Mention address of beneficiary bank, including city and country.
Provide IBAN details because it is required for international transfers. Account number is not mandatory.
Give full name of beneficiary. It should be the same as that of the bank account. Though not compulsory, intermediary bank filed can be filled.
Also provide SWIFT or BIC code.
Withdrawal form, duly signed must be mailed to [email protected]
Withdrawal form when submitted would take about 3 business days for approval and processing. Funds might be reflected in customer’s account after five days. Your withdrawal request will be processed only if the KYC legal requirements pertaining to the account have been complied with by you.
You can withdraw either through credit card or through wire transfer.
There are no minimum withdrawal amount conditions.
Yes, it is possible. It can be done even after the withdrawal process has been initiated. You can cancel your withdrawal requests and the money can be sent back to your crypto trading account. MGC Logic offers this facility to help tide over situations when the customers may not have enough funds in their trading account. It will allow you to continue trading. Cancellation for withdrawals can be made by mail and even over phone.
The responsibility of tax liabilities rests with the traders who have accounts with MGC Logic. The relevant tax rules that are applicable should be followed and compliance is the responsibility of the traders. A visit to the general terms page will help readers to get more information on the subject matter.