MetFX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://my.metfx.com/register, about the company's legal and temporary regulatory information, the company's address Griffith Corporate Centre, Beachmont, 1510, Kingstown, St. Vincent and the Grenadines.
Note: MetFX's official website - https://metfx.com/ is currently inaccessible normally.
MetFX Review SummaryMetFX, the trading name of Met Tech Global Ltd, is a brokerage company with its domain registered in 2003 and currently does not maintain functional website, that's why we can only gather all the information in this article from Internet.
The company offers trading services in forex, commodities, cryptocurrencies, shares and indices. Minimum dpeosit is affordable at $50, with a tight spread from 0 pips. And the broker claims to offer the world-renowned MetaTrader 5 platform to enhance customer experience.
However, it cannot be negleceted that the broker currently operates without any valid regulation, which indicates possible less compliance to industry and customer protection.
Pros | Cons |
Diverse tradable assets | Regional restrictions |
Demo accounts available | No regulation |
MT5 platform | Inactivity fees charged |
Acceptable minimum deposit | Chargeback fees for credit card payments |
Popular payment otions | Long withdrawal process |
Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of MetFX, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.
Tradable Instruments | Supported |
Forex | ✔ |
Commodities | ✔ |
Cryptocurrencies | ✔ |
Shares | ✔ |
Indices | ✔ |
Bonds | ❌ |
Options | ❌ |
ETFs | ❌ |
There are three trading accounts offered by MetFX, namely Standard, Islamic and ECN. You can open a demo account for ECN account.
Account Type | Min Deposit | Spread | Commission (per round lot) | Crypto Commission |
ECN (live, demo) | USD 100 | From 0 pips | USD 4 | 0.3% |
STANDARD (live) | USD 50 | From 0.8 pips | USD 6 | |
ISLAMIC (live) | USD 200 | From 1.6 pips | USD 8 | 0.4% |
MetFX offers varying leverage levels of up to 1:100, allowing you to maximize your position with limited initial deposit.
But it's always advised to use leverage prudently due to significantly amplified losses at the same time as gains.
When it comes to trading platforms available, MetFX gives traders the world's most widely-used MetaTrader5 platform. MT5 is known as one of the most successful, efficient, and competent forex trading software, featuring an array of technical analysis indicators, trading signals, financial calendar and more.
Trading Platform | Supported | Available Devices | Suitable for |
MT5 | ✔ | Web, desktop, mobile | Experienced traders |
MT4 | ❌ | / | Beginners |
MetFX accepts deposits and withdrawals via Bank Wire, Credit/Debit Cards, Sticpay, cryptocurrencies of Bitcoin, Ethereum, and others.
As for the processing time of withdrawal requests, it usually takes up to 5 business days to process.
MetFX charges a monthly inactivity fee of $30 for accounts being inactive for over 3 months.
Unreasonabley, there's another charge of $250 if client of this company issue chargeback for credit card payments. We suggest you not to agree such unfair clause when trading with this broker.
GRMFX12
Belarus
I used to use MetFX for forex trading, but I wouldn't choose it anymore. First of all, the broker does not seem to be regulated by a transparent and reliable regulator, which worries me. Secondly, the trading conditions are not very favorable, such as spreads and trading fees are higher than other brokers, which means that my profit potential is limited. In addition, MetFX's trading platform is not very stable and often suffers from glitches and delays.
Neutral
2023-03-29
GRMFX12
Belarus
Finally, customer service is also less than satisfactory, making it difficult to reach customer service staff and get effective help. In conclusion, I cannot recommend MetFX to anyone else for Forex trading.
Neutral
2023-03-29