Moxium Forex Broker

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Information Registered Country/Region China Regulation unregulated Market Instrument CFDs, Cryptocurrencies, Currency Pairs and ETFs Account Type Basic, Silver, Gold, Platinum and Diamond Demo Account N/A Maximum Leverage 1:500 Spread 0.1 pips Commission N/A Trading Platform web Minimum Deposit $10,000 Deposit & Withdrawal Method N/A Moxium is allegedly a forex and CFD broker registered in China that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads from 0.1 pips on the web-based trading platform via 5 different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site: As for regulation, it has been verified that Moxium currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.04/10. Please be aware of the risk. Note: The screenshot date is February 8, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments Moxium advertises that it offers access to a wide range of trading instruments in financial markets, including CFDs, Cryptocurrencies, Currency Pairs and ETFs. Account Types Moxium claims to offer 5 types of trading accounts, namely Basic, Silver, Gold, Platinum and Diamond, with minimum initial capital requirements of $10,000, $25,000, $50,000, $100,000 and $200,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage The specified leverage for different account types at Moxium varies between 1:50 and 1:500. Clients on the Basic account can experience leverage of 1:50, while the Silver, Gold, Platinum and Diamond accounts have higher leverage of 1:200, 1:300, 1:400 and 1:500 separately. 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. Spreads & Commissions The spread on the trading platform is very low at 0.1 pips. A raw spread typically comes with a fixed commission per lot traded, but Moxium does not disclose its commissions. Trading Platform Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Moxium gives traders a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal Money can be deposited and withdrawn through “bank wire, credit/debit cards, and some popular electronic wallets” according to Moxiums website. However, there were no active options on the Moxium deposit menu at the time of writing this review. Often, scammers use cryptocurrency transactions and other opaque methods to defraud their victims, making it nearly impossible for them to get a refund. Bonuses Moxium claims to offer different bonuses for different account types. For example, 0% for the Basic account, 10% for the Silver account, 20% for the Gold account, 30% for the Platinum account and 40% for the Diamond account. 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. Customer Support Moxium‘s customer support can be reached by email: support@moxium.co or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer. Pros & Cons Pros Cons • Multiple account types to choose from • No regulation • Flexible leverage up to 1:500 • No info on commission and payment methods Frequently Asked Questions (FAQs) Q 1: Is Moxium regulated？ A 1: No. It has been verified that Moxium currently has no valid regulation. Q 2: Does Moxium offer the industry-standard MT4 & MT5？ A 2: No. Instead, it offers a web-based trading platform. Q 3: What is the minimum deposit for Moxium？ A 3: The minimum initial deposit to open an account is $10,000. Q 4: Is Moxium a good broker for beginners？ A 4: No. Moxium is not a good choice for beginners. Not only because of its unregulated condition, but also because of its high initial deposit requirement and lack of transparency.