MFM Securities Forex Broker

Registered inSt. Vincent and the GrenadinesRegulated byNo effective regulation at this timeYear(s) of establishment2-5 yearsTrading InstrumentsCurrency pairs, indices, commodities, metals, energy, stocks, cryptocurrenciesMinimum Initial Deposit$15Maximum Leverage1:1000Minimum spread0.0 pips onwardsTrading PlatformMT4, MT5Deposit and Withdrawal MethodBank wire transfer, credit/debit card, cryptocurrencies, online bankingCustomer ServiceEmail/phone number/address/live chatFraud Complaints ExposureYesGeneral information MFM Securities is an online forex broker registered in St. Vincent and the Grenadines. It declares to have a VFSC regulation, but our group tends to verify it as a clone one. It offers a range of trading instruments, including currency pairs, indices, commodities, metals, energy, stocks, and cryptocurrencies. MFM Securities provides different account types, including a demo account for risk-free trading and live accounts with minimum deposit requirements ranging from $15 to $100, depending on the account type. The broker offers the popular trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for accessing the markets.Pros and ConsProsConsWide range of trading instrumentsSuspicious clone with no effective regulationDemo account availableReports of fraud complaintsLow minimum initial depositLack of transparency in regulatory statusMultiple deposit/withdrawal optionsPotential issues with trading conditionsAccess to popular trading platforms (MT4, MT5)Limited educational resources for tradersMultilingual customer supportConcerns about the broker's business practicesIs MFM Securities Legit? Based on the information provided, it appears that MFM Securities claims to be regulated by the Vanuatu Financial Services Commission (VFSC) with license number 700451. However, the regulatory status of MFM Securities is suspicious and has been flagged as a clone.Market nstIuments MFM Securities provides access to a diverse range of trading markets. These instruments include: 1. Currency Pairs: Clients can trade major, minor, and exotic currency pairs in the forex market. This allows them to participate in the global currency exchange and take advantage of fluctuations in exchange rates. 2. Indices: MFM Securities offers trading on a range of stock indices, such as the S&P 500, Dow Jones Industrial Average, FTSE 100, and more. Trading indices allows investors to speculate on the performance of a basket of stocks representing a particular market or industry. 3. Commodities: Clients can trade various commodities, including agricultural products (such as wheat, corn, and soybeans), energy commodities (such as crude oil and natural gas), and precious metals (such as gold, silver, and platinum). Trading commodities provides exposure to global supply and demand dynamics. 4. Metals: MFM Securities allows clients to trade precious metals like gold, silver, and platinum. These metals are often sought after as safe-haven assets and can be used as a hedge against inflation or economic uncertainty. 5. Energy: Trading energy commodities, such as crude oil and natural gas, enables clients to take positions based on market fluctuations in the energy sector. Energy markets are influenced by factors like geopolitical events, supply and demand dynamics, and weather patterns. 6. Stocks: MFM Securities offers trading in individual stocks, allowing clients to buy and sell shares of publicly traded companies. This provides an opportunity to participate in the performance of specific companies and industries. 7. Cryptocurrencies: MFM Securities allows clients to trade cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. Cryptocurrencies are digital assets that operate on blockchain technology, and their prices can be highly volatile.Spreads and Commissions MFM Securities has a very detailed table of spreads, where the clients may easily check the spreads of different instrument between different accounts. For example, the spreads of EURUSD in micro, standard, prime and ECN account are respectively 1.9, 1.9, 0.5. and 0.2 pips. The commissions depend on the account types.Account Types DEMO ACCOUNT: MFM Securities provides a demo account that allows you to try out the financial markets without the risk of losing money. LIVE ACCOUNT: MFM Securities offers a total of 4 account types: micro, standard, prime, and ECN. The minimum deposit to open an account is $15, $25, $100, and $100 respectively. Its everything but demanding to open an account in MFM Securities when it comes to the minimum deposit. However, we should also realize that too little capital not only reduces losses but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.Leverage MFM Securities provides a maximum leverage of 1:1000, which is suitable for professional traders and scalpers. It is important to note that while leverage can amplify profits, it also carries the risk of capital loss, particularly for inexperienced traders.Spreads and Commissions MFM Securities provides a detailed table of spreads for clients to review. The spreads vary between different instruments and account types. For instance, the spreads of EURUSD in the micro, standard, prime, and ECN accounts are 1.9, 1.9, 0.5, and 0.2 pips respectively.Trading Platform Clients of MFM Securities have the option to choose between two well-known trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely recognized and can be accessed from various devices. If you have been contemplating which platform to utilize, MFM Securities provides a helpful article that compares the similarities and differences of MT4 and MT5, offering specific advice for your reference.Deposit and Withdrawals MFM Securities provides clients with multiple options for depositing and withdrawing funds from their trading accounts. The available deposit methods include Bank Wire (BankTransfer/SWIFT), Credit/Debit Card, Cryptocurrency, and Online Bank Transfer. Similarly, clients can use these same methods for withdrawing their funds from the trading accounts.Users Exposures on WikiFX On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.Customer Support MFM Securities provides customer support through various channels. The customer service is available in multiple languages, including English, Bahasa Indonesia, Filipino, Vietnamese, Bahasa Melayu, Arabic, and Thai. The service hours are 24/5, allowing clients to reach out during specified times. Below are the details about the customer service. Language(s): English, bahasa indonesia, Filipino, Vietnamese, Bahasa melayu, Arabic, Thai language, Filipino Service Hours: 24/5 Address: Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and The Grenadines Email: support@mfmsecurities.com Phone Number: +44 131 618 8832 Social media: Facebook, Instagram, LinkedIn, YouTube, twitter.FAQs What is the minimum deposit required to open a live account with MFM Securities? The minimum initial deposit to open a live account with MFM Securities is $15. What leverage does MFM Securities offer? MFM Securities provides a maximum leverage of 1:1000, which is suitable for professional traders and scalpers. However, traders should carefully consider their risk tolerance when utilizing high leverage. What are the deposit and withdrawal methods available on MFM Securities? MFM Securities offers various deposit and withdrawal methods, including bank wire transfer, credit/debit card, cryptocurrencies, and online banking. What trading platforms are available on MFM Securities? Clients of MFM Securities can choose between MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.