Rating Index
Pros
Access to a variety of financial instruments, including forex, CFDs, commodities, and indices.
Positive customer support and execution speed ratings, indicating efficient service.
Established presence in the UAE with over 14 years of experience in the industry.
Cons
Unregulated status raises concerns about safety and security for clients' funds.
Limited trading platform options, as it does not support popular platforms like MT4 or MT5.
Negative reputation with multiple complaints and warnings from review services, suggesting potential reliability issues.
MEVP broker Accounts
MEVP Account Type
MEVP offers various types of trading accounts tailored to different trading needs. However, it's important to note that MEVP is an unregulated broker, which means that it lacks the oversight that typically governs more established trading platforms. The main account types available are:
Standard Account: This is the most common type of account, allowing traders to engage in forex trading with standard lot sizes. It typically requires a minimum balance ranging from $2,000 to $10,000.
Mini Account: Designed for beginner traders, this account type allows transactions using mini lots, which are worth $10,000. The minimum deposit for a mini account is generally lower, often between $250 to $500.
Managed Account: In this account type, professional managers handle trading decisions on behalf of the investor. Managed accounts may require a higher initial investment, usually starting from $2,000 for pooled funds.
Micro Account: Some brokers offer micro accounts that trade in $1,000 lots, suitable for traders with limited experience or capital. These accounts can often be opened with as little as $25.
Select Account Type: Choose the account type that suits your trading goals and risk tolerance.
Provide Personal Information: Fill out the account application with personal details, including your name, address, social security number, and employment information.
Submit Identification: You may need to provide identification documents, such as a passport or drivers license, and proof of address.
Fund Your Account: After your application is approved, you must fund your account. This can typically be done through an electronic transfer from your bank account or by mailing a check.
Start Trading: Once your account is funded, you can start trading on the platform provided by MEVP.
MEVP Broker Account Opening Process
Opening a broker account with MEVP involves several straightforward steps:
Please be aware that due to MEVP's unregulated status, it is advisable to proceed with caution and conduct thorough research before opening an account.
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