MFX-Trading Company

MFX Trading Forex Broker - Complete Information Guide

1. Broker Overview

MFX Trading, also known as MFX Broker, was established in 2006 and is headquartered in St. Petersburg, Russia. The company operates as a private entity under the ownership of Master Services Inc., which is registered in Belize. Over the years, MFX Trading has positioned itself as a prominent player in the forex market, providing services to a diverse clientele that includes both retail and institutional traders from over 160 countries.

The company has undergone significant developments since its inception, including the introduction of various trading products and account types tailored to meet the needs of different traders. One of the key milestones in its history was the launch of its social trading platform, which allows traders to interact and share insights, enhancing their trading experience.

MFX Trading primarily operates in the retail forex market, offering a range of services including forex trading, CFD trading, and binary options. The broker aims to provide a user-friendly trading environment, competitive spreads, and advanced trading technology to attract and retain clients.

2. Regulation and Compliance Information

MFX Trading operates under the regulatory framework of the International Financial Services Commission (IFSC) of Belize. The company holds a license with the registration number IFSC/60/296/TS/14. However, it is important to note that the regulatory oversight provided by the IFSC is often considered less stringent compared to other jurisdictions.

The license allows MFX Trading to offer a variety of financial services, but the lack of rigorous compliance checks raises concerns regarding client fund safety. The company claims to maintain client funds in segregated accounts; however, the absence of a robust investor compensation scheme further heightens the risk for clients.

MFX Trading adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, although the effectiveness of these measures is often questioned due to the company's unregulated status. Potential clients are advised to exercise caution and conduct thorough research before engaging with the broker.

3. Trading Products and Services

MFX Trading offers a comprehensive array of trading products, catering to a broad spectrum of trading preferences. The broker provides access to 28 currency pairs, including major, minor, and exotic pairs, allowing traders to diversify their portfolios.

In addition to forex trading, MFX Trading also offers Contracts for Difference (CFDs) on various assets, including:

• Indices: Access to major global indices.
• Commodities: Trading options for precious metals like gold and silver.
• Stocks: A selection of equities for trading.
• Cryptocurrencies: Plans to expand offerings to include digital currencies.

MFX Trading frequently updates its product offerings to meet market demands, ensuring that traders have access to the latest financial instruments. The broker also provides retail trading services and caters to institutional clients with tailored solutions.

4. Trading Platforms and Technology

MFX Trading supports the widely recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are favored by traders for their advanced capabilities and user-friendly interfaces. The broker offers a customized version of MT4, referred to as MFX Trader 4, which is available on desktop and mobile devices.

Key features of the trading platforms include:

• Web-based trading: Accessible from any device with internet connectivity.
• Mobile applications: Available for both iOS and Android, enabling traders to manage their accounts on the go.
• Execution models: MFX Trading utilizes ECN and Market Making execution methods, providing traders with competitive pricing and fast execution times.

The broker also supports API access for automated trading, allowing clients to implement algorithmic trading strategies seamlessly.

5. Account Types and Trading Conditions

MFX Trading offers several account types to accommodate different trading styles and preferences:

• Standard Account: Minimum deposit of $5, fixed spreads starting at 2 pips, and no commission.
• Micro Account: Designed for novice traders, with a minimum deposit of $1 and the ability to trade micro lots.
• ECN Account: Requires a minimum deposit of $500, offering variable spreads from 0.1 pips and a commission of $2.40 per lot.
• CFD Account: Minimum deposit of $500, with fixed spreads and the ability to trade various assets.

MFX Trading provides leverage up to 1:1000 on forex and 1:500 on commodities, allowing traders to maximize their trading potential. The broker also has a clear policy on overnight fees, which are applicable based on the account type and trading position.

6. Fund Management

MFX Trading supports a variety of deposit methods to facilitate client transactions, including:

• Bank wire transfers
• Credit/debit cards
• E-wallets such as Skrill, Neteller, and WebMoney.

The minimum deposit requirement varies by account type, starting from as low as $1 for the Micro Account.

Deposits are typically processed quickly, while withdrawal requests may take longer, depending on the method chosen. MFX Trading does not charge deposit fees, but potential withdrawal fees may apply based on the chosen payment method.

7. Customer Support and Educational Resources

MFX Trading provides customer support through multiple channels, including:

• Phone
• Email
• Live chat

The support team is available 24/5, covering various time zones to assist clients from different regions. The broker offers support in multiple languages, including English, Spanish, Russian, Chinese, Indonesian, Malay, and Arabic.

In addition to customer support, MFX Trading offers various educational resources, such as:

• Webinars and tutorials
• Market analysis services, including daily market updates and research reports.
• Trading tools, such as calculators and economic calendars.

These resources aim to equip traders with the knowledge and tools necessary to succeed in the financial markets.

8. Regional Coverage and Restrictions

MFX Trading primarily serves clients from regions such as Europe, Latin America, Asia, and the Middle East. The broker has established offices in several countries, including Egypt, Georgia, and Indonesia, to provide localized support.

However, MFX Trading does not accept clients from the United States, which is a common restriction among many offshore brokers. This limitation is crucial for potential clients to consider when evaluating their options.

In summary, while MFX Trading offers a range of trading products and services, potential clients should remain vigilant regarding the broker's unregulated status and ensure they understand the risks involved in trading with such entities.