MFM Securities Forex Broker

Note: MFM Securities's official website - https://MFM Securities.com/ is currently inaccessible normal.MFM Securities Review SummaryFounded/Registered Country/RegionAustraliaRegulationUnregulatedMarket Instruments100+ CFDs on stocks, indices, forex, commodities, cryptocurrencies, bonds and ETFsDemo Account✅Leverage1:10-1:1000SpreadFrom 1.8 pips (Standard account)Trading PlatformMT4, MT5Min Deposit$15Customer Support24/7 live chatTel: +44 13161 888 32Email: support@mfmsecurities.comTwitter, Facebook, Instagram, YouTube and LinkedInRegistered address: Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and The Grenadines MFM Securities, a trading name of MFM Securities (Pacific) Limited, is a forex and CFD broker that offers trading in stocks, indices, forex, commodities, cryptocurrencies, bonds and ETFswith spreads from 1.8 pips on the Standard account and flexible leverage up to 1:1000. It also offers four different live account types on the top MetaTrader4 and MetaTrader5 trading platforms.Pros and ConsProsConsDiverse tradable asset classesUnfunctional websiteDemo account and three live account typesNot licensedMicro accounts offeredDeposit and withdrawal fee chargedFlexible leverage ratiosNo commissions for some account typesMT4 and MT5 supportedLow minimum depositPopular payment options24/7 live chat supportIs MFM Securities Legit? No. MFM Securities operates without regulations. Please be aware of the risk!What Can I Trade on MFM Securities? MFM Securities advertises that it offers access to more than 100 trading instruments in financial markets, including CFDs on 7 asset classes: stocks, indices, forex, commodities, cryptocurrencies, bonds and ETFs.Trading AssetAvailableCFDs✔forex✔commodities✔stocks✔indices✔cryptocurrencies✔bonds✔ETFs✔options❌Account Type Apart from demo accounts, MFM Securities claims to offer three types of trading accounts, namely Standard, Prime, and Micro.Account TypeMinDepositMicro$15Standard$25Prime$100ECN$100Leverage The leverage provided by MFM Securities is capped at 1:1000. More details can be found in the below table. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.StandardPrimeECNMicroForex1:100-1:5001:100-1:1000MetalsEnergyStocks1:10-1:60/Cryptos/1:10Spread and CommissionAccount TypeSpreadCommissionStandardFrom 1.8 pips❌PrimeFrom 0.4 pipsECN/MicroRaw$5/lotTrading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔Desktop, Mobile, WebBeginnersMT5✔Desktop, Mobile, WebExperienced tradersDeposit and Withdrawal MFM Securities says to accept deposits via credit/debit cards, online banking, cryptocurrency and Wire Transfer, and withdrawals with online banking and cryptocurrency. The minimum initial deposit requirement is said to be $100 for Wire Transfer, while $25 for deposit methods. The minimum withdrawal amount is $13. The broker also charges deposit fees, 1.5% and minimum €0.4 for cryptocurrency deposits, while other deposits are free. As for the processing time of deposit and withdrawal requests, all deposits are said to be processed within 10 minutes, while free for online banking withdrawals and 1.5% for cryptocurrency withdrawals.Promotions MFM Securities claims to offer a 35%+25% deposit bonus and a $30 welcome bonus on the Prime account. The maximum bonus is up to $5,000. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.