Miki Forex foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.mikiforex.com/en, about the company's legal and temporary regulatory information, the company's address .
Miki Forex Forex Broker
Basic Information
United Kingdom
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Miki Forex broker review
Rating Index
Miki Forex Broker - Comprehensive Information Guide
1. Broker Overview
Miki Forex, established in 1998, is an Israel-based brokerage firm that specializes in forex and binary options trading. The company is headquartered in Ramat Gan, Israel, and operates as a private entity. Over the years, Miki Forex has developed a significant presence in the financial markets, catering primarily to Russian-speaking traders and clients from various international regions.
The company has evolved since its inception, focusing on providing innovative trading solutions and expanding its customer base globally. Miki Forex has partnered with British AL Trade Inc., enhancing its service offerings and market reach. The brokerage operates under a retail forex model, allowing individual investors to engage in currency trading, CFD trading, and binary options.
Miki Forex has made notable strides in the industry, with a commitment to offering competitive trading conditions and a user-friendly trading experience. This includes a variety of account types and a robust trading platform, which has positioned Miki Forex as a notable player in the forex brokerage landscape.
2. Regulation and Compliance Information
Miki Forex is regulated by the Israeli Ministry of Finance, which oversees its operations and ensures compliance with local financial laws. However, it is important to note that the brokerage has faced scrutiny regarding its regulatory status. Some sources indicate that the company lacks valid regulatory information and may operate without sufficient oversight, raising concerns about investor protection.
The regulatory license issued by the Israeli authorities is aimed at ensuring that Miki Forex adheres to the necessary legal and operational standards. However, the lack of a robust international regulatory framework may pose risks to traders. Miki Forex does not participate in any investor compensation schemes, which further heightens the risks associated with trading through this broker.
In terms of compliance, Miki Forex implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to verify the identity of its clients and prevent illicit activities. Despite these measures, potential clients should be aware of the risks involved due to the broker's regulatory status.
3. Trading Products and Services
Miki Forex offers a diverse range of trading products, including:
- Forex Currency Pairs: The broker provides access to a variety of currency pairs, including major, minor, and exotic pairs.
- CFDs: Miki Forex allows trading in Contracts for Difference (CFDs) across various asset classes, including commodities and indices.
- Binary Options: The company previously focused on binary options trading, offering several types such as up/down, range, even/odd, and big/small options.
The broker's product portfolio is designed to cater to different trading strategies and preferences. However, the frequency of product updates and the introduction of new trading instruments remain unclear.
Miki Forex primarily serves retail clients, providing a user-friendly trading environment and various educational resources to enhance traders' skills. While institutional services are not explicitly mentioned, the brokerage's structure suggests potential offerings for professional clients.
4. Trading Platforms and Technology
Miki Forex supports the MetaTrader 4 (MT4) platform, widely regarded as one of the most popular trading platforms in the industry. MT4 offers a range of features, including advanced charting tools, technical indicators, and automated trading capabilities.
In addition to MT4, Miki Forex has developed its own trading platform, Mobius Trader 7, which is designed for both desktop and mobile devices. This platform provides traders with a simplified interface while maintaining essential trading functionalities.
Traders can also access their accounts via a web-based platform, allowing for trading without the need to download software. The broker supports mobile trading applications for both iOS and Android, making it convenient for traders to manage their accounts on the go.
Miki Forex operates on an ECN model, which facilitates direct market access and provides competitive spreads. The brokers technological infrastructure is designed to ensure fast order execution and reliable trading conditions.
5. Account Types and Trading Conditions
Miki Forex offers three main account types:
- Micro Account: Minimum deposit of $20, with leverage up to 1:500 and spreads starting from 1 pip.
- Mini Account: Requires a minimum deposit of $200, leverage of 1:200, and spreads from 0.8 pips.
- Standard Account: A higher minimum deposit of $1,500, leverage of 1:200, and spreads starting from 0.5 pips.
Each account type is designed to cater to different levels of trading experience, from beginners to more advanced traders. Miki Forex also offers a demo account for clients to practice their trading strategies without financial risk.
The brokerage provides competitive leverage options, allowing traders to maximize their potential returns. However, the specifics regarding overnight fees and commissions are not clearly outlined in the available information.
6. Funds Management
Miki Forex supports several deposit methods, including:
- Bank Transfers
- Credit/Debit Cards
- Electronic Wallets (such as WebMoney, Skrill, OK Pay, and Yandex Money)
The minimum deposit requirements vary by account type, with the micro account requiring just $20. The processing time for deposits is generally quick, but specific timelines are not disclosed.
Withdrawal options include similar methods, with the processing times and fees varying. Clients have reported extended wait times for withdrawals, which can take up to two weeks in some cases. The lack of transparency regarding withdrawal fees and processes is a concern for potential traders.
7. Customer Support and Educational Resources
Miki Forex provides customer support through various channels, including:
- Phone
- Online Chat
The support team is available 24/7, ensuring that traders can receive assistance whenever needed. The broker offers support in multiple languages, catering primarily to its Russian-speaking clientele.
In addition to customer support, Miki Forex provides a range of educational resources, including webinars, tutorials, and market analysis. These resources aim to equip traders with the knowledge necessary to navigate the financial markets effectively.
Market analysis services, such as daily updates and research reports, are also available to help traders make informed decisions.
8. Regional Coverage and Restrictions
Miki Forex primarily targets clients from Russia and other regions, focusing on the Russian-speaking market. However, the brokerage does not accept clients from certain countries, including the United States.
The company operates without regional offices outside of Israel, which may limit its ability to provide localized services. Potential clients should verify their eligibility to trade with Miki Forex based on their country of residence.
In summary, Miki Forex operates as a forex broker with a range of trading products and services. However, potential clients should exercise caution due to the broker's regulatory status and the mixed reviews regarding its services.