MadCam is probably not the most optimal tool for engraving. On the other hand, if you make your engraving as a 3D cutout you have the most powerful engraving tool ever.
This CAM is optimized for 3D-machining, specially for making moulds, and the focus is really on 3D functionality. So I think you would be disappointed if you didn't try it out seriously before you buy it.
But hey, just try it and see if it works for you! I do make engravings with MadCam, but not in a typical engraving kind of way.