Mt.Cook Forex Broker

Mt.CookReview SummaryRegistered Country/RegionSouth AfricaRegulationFSCA (Exceeded)Market InstrumentsForex, Precious Metals, Indices, Energies, and CryptoDemo AccountYesLeverageUp to 1:500SpreadStarting from 0 pipsTrading PlatformMetaTrader4Min Deposit$500Mt.Cook Information Mt.Cook, a brokerage firm based in South Africa, operates outside the business scope regulated by the FSCA. It offers many market instruments including Forex, Precious Metals, Indices, Energies, and Crypto. Mt.Cook provides demo accounts and high-leverage options up to 1:500. With MetaTrader4, FIX API, and the newly introduced Hybrid PAM, Mt.Cook facilitates trading with a minimum deposit of $500.Pros and ConsProsConsOffers different account types and a demo accountFSCA (Exceeded)High leverage options up to 1:500High minimum deposit requirementIs Mt.Cook Legit? Mt.Cook operates outside the business scope regulated by the South African Financial Sector Conduct Authority (FSCA) and holds a Financial Service Corporate license number: 50420. It is not affiliated with the National Futures Association or the UNFX Non-Forex License.What Can I Trade on Mt.Cook? Mt.Cook offers a variety of trading instruments including Forex, Precious Metals, Indices, Energies, and Crypto.Tradable InstrumentsSupportedForex✔Energies✔Crypto✔Indices✔Precious Metals✔Shares❌Stock❌Account Type Mt.Cook offers two types of accounts: DMA (Direct Market Access) accounts and ECN accounts. The DMA account requires a minimum deposit of $25,000, and it cannot batch-hedge trades less than 1 standard lot in position size ($100,000 of currency). ECN Account has three tiers of minimum deposit for $500, $25,000, and $100,000 respectively. You can check the specific information in the table. Besides, Mt.Cook also provides demo accounts for traders.Account TypeMinimum DepositBatch-Hedging CapabilitiesMargin StructureDMA$25,000NoStandard ticket fees for <1 lotECN - Mt.Cook$500YesTight margins from transaction feesECN - Mt.Kilimanjaro$25,000YesECN - Mt. Everest$100,000YesMt.Cook Fees Mt.Cook charges commissions for its DMA and ECN accounts. For DMA accounts, the commission is $6.50 per lot, while for ECN accounts, the commission from $7.50 per lot, $6.50 per lot, and $5.50 per lot.Account TypeCommission per lotDMA$6.50ECN - Mt.Cook$7.50ECN - Mt.Kilimanjaro$6.50ECN - Mt. Everest$5.50Mt.Cook Leverage Mt.Cook offers different levels of leverage for its different account types. The DMA account has a maximum leverage of 1:200. ECN accounts offer different leverage options. You can check the details below.Account TypeMaximum LeverageDMA1:200ECN - Mt.Cook1:500ECN - Mt.Kilimanjaro1:200ECN - Mt. Everest1:100Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable forMetaTrader4✔PC and MobileInvestors of all experience levelsFIX API✔PC and MobileInvestors of all experience levelsHybrid PAM✔PC and MobileInvestors of all experience levelsDeposit and Withdrawal For Deposits, the minimum deposit amount is $500 USD, with a maximum limit of $1M and an average processing time of near-instant.Deposit OptionCurrenciesMinimum DepositMaximum DepositAverage Processing TimeWire TransferUSD, EUR, GBP, AUD$500 USDNo Max1-3 daysPerfect MoneyUSD, EUR$1MInstantCryptocurrency TransferBTC, ETH, USDT, PAXG$1MNear InstantTransfer from Another BrokerUSD, EUR, GBP, AUD$25M1-3 days For withdrawals, clients can submit requests through the Client Portal after logging in. However, the specific fees are not mentioned.