Rating Index
Pros
Low minimum deposit requirement of $1, making it accessible for new traders.
Offers a variety of account types tailored to different trading styles, including ECN and standard accounts.
Provides negative balance protection, which helps safeguard traders from losing more than their initial investment.
Cons
Lacks regulation by a top-tier financial authority, raising concerns about safety and trustworthiness.
There are reports of counterfeit MetaTrader platforms, which may affect the trading experience.
High potential risk associated with trading, particularly due to the leverage offered (up to 1:1000).
Mides broker Accounts
Mides Account Type
Mides offers various account types tailored to different trading needs. The primary accounts available are:
- ECN Account
- 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, Cryptos, Indices, Metals.
- Trading Platforms: MT4, MT5.
- Stop Out Level: 40%
- Margin Call Level: 100%
- Negative Balance Protection: Yes.
- Standard (STD) Account
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Trading Fees: Only spread is charged (no commission); variable spreads starting from 0.7 pips.
- Trading Instruments: Forex, Cryptos, Indices, Metals.
- Trading Platforms: MT4, MT5.
- Stop Out Level: 40%
- Margin Call Level: 100%
- Negative Balance Protection: Yes.
Choose Your Account Type: Decide between the ECN and STD account based on your trading style and needs.
Account Registration:
- Visit the Mides website and navigate to the account opening section.
- Fill out the online application form with your personal information, including your name, address, and contact details.
- KYC Verification:
- You will need to complete the Know Your Customer (KYC) verification by providing necessary identification documents.
- Funding Your Account:
- After your account is verified, you can fund your account using various payment methods. The minimum deposit to start trading is $1.
- Start Trading:
- Once your account is funded, you can start trading on the Mides platform using MT4 or MT5.
Both account types allow for a minimum trade size of 0.01 lots and have a maximum trade size of 1000 lots on MT4 and 100 lots on MT5.
Mides Broker Account Opening Process
Opening an account with Mides is a straightforward process that can be completed online. Here are the steps involved:
The entire process can take as little as 5 to 7 minutes to complete, making it accessible for traders of all experience levels.
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