Rating Index
Pros
User-friendly trading platforms (MT4 and MT5) available for traders.
Quick and responsive customer support, addressing issues efficiently.
Integration with TradingView for enhanced trading experience.
Cons
Lack of regulatory oversight raises concerns about safety and legitimacy.
High commission fees compared to industry standards, impacting profitability.
Reported issues with withdrawal processes and customer support responsiveness.
MIDAS EXCHANGE broker Accounts
MidasFX Account Types
MidasFX offers two main types of trading accounts: ECN Account and STD Account. The ECN account is particularly well-suited for beginners, providing a straightforward trading experience with competitive spreads and reliable execution. Key features of the ECN account include:
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Trading Fees: Commission of $5 per 100k traded, variable spreads starting from 0.0 pips.
- Trading Instruments: Forex, cryptocurrencies, indices, and metals.
- Trading Platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
- Minimum Trade Size: 0.01 lot.
- Maximum Number of Positions: 200 for live accounts on MT4 and MT5.
- Negative Balance Protection: Yes.
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Trading Fees: Only spread is charged, variable spreads starting from 0.7 pips.
- Trading Instruments: Same as ECN account.
- Trading Platforms: MT4 and MT5.
- Minimum Trade Size: 0.01 lot.
- Maximum Number of Positions: Same as ECN account.
- Negative Balance Protection: Yes.
- Visit the MidasFX Website: Go to the official MidasFX website.
- Select Account Type: Choose between the ECN or STD account.
- Complete the Registration Form: Fill in your personal details, including email and desired account currency.
- KYC Verification: Submit the required identification documents for KYC verification.
- Initial Deposit: Fund your account with a minimum deposit of $1.
- Access Trading Platforms: Download MetaTrader 4 or MetaTrader 5 to start trading.
- Demo Account Option: You can also create a demo account for practice, which is valid for 30 days.
The STD account, on the other hand, charges only the spread with no additional commission. Key features include:
Both account types require KYC verification and allow various trading styles, including scalping and EA trading.
MidasFX Broker Account Opening Process
To open an account with MidasFX, follow these steps:
The entire process can take as little as 5 to 7 minutes, making it quick and efficient for traders to start their trading journey.
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