Mt.Cook Forex broker specializes in providing foreign exchange trading services, the company's official website http://mtcookfinancial.com/, the company's legitimate regulatory information South AfricaFSCAFinancial Service Corporate, to enhance the security of the company's address 25 Dock Road Junction, V&A Waterfront Cape Town, 8001, South Africa.
Mt.Cook Forex Broker
Basic information
South Africa
5-10 years Regulated in South Africa Financial Service Corporate White label MT4 Regional Brokers Suspicious Overrun Medium potential riskCompany profile
Mt.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 Cons
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Is 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 Instruments | Supported |
| Forex | ✔ |
| 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 Type | Minimum Deposit | Batch-Hedging Capabilities | Margin Structure |
| DMA | $25,000 | No | Standard ticket fees for <1 lot |
| ECN - Mt.Cook | $500 | Yes | Tight margins from transaction fees |
| ECN - Mt.Kilimanjaro | $25,000 | Yes | |
| ECN - Mt. Everest | $100,000 | Yes |
Mt.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 Type | Commission per lot |
| DMA | $6.50 |
| ECN - Mt.Cook | $7.50 |
| ECN - Mt.Kilimanjaro | $6.50 |
| ECN - Mt. Everest | $5.50 |
Mt.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 Type | Maximum Leverage |
| DMA | 1:200 |
| ECN - Mt.Cook | 1:500 |
| ECN - Mt.Kilimanjaro | 1:200 |
| ECN - Mt. Everest | 1:100 |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader4 | ✔ | PC and Mobile | Investors of all experience levels |
| FIX API | ✔ | PC and Mobile | Investors of all experience levels |
| Hybrid PAM | ✔ | PC and Mobile | Investors of all experience levels |
Deposit 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 Option | Currencies | Minimum Deposit | Maximum Deposit | Average Processing Time |
| Wire Transfer | USD, EUR, GBP, AUD | $500 USD | No Max | 1-3 days |
| Perfect Money | USD, EUR | $1M | Instant | |
| Cryptocurrency Transfer | BTC, ETH, USDT, PAXG | $1M | Near Instant | |
| Transfer from Another Broker | USD, EUR, GBP, AUD | $25M | 1-3 days |
For withdrawals, clients can submit requests through the Client Portal after logging in. However, the specific fees are not mentioned.
Rating Index
Mt. Everest
Mt. Kilimanjaro
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Latest Reviews
ABCD40692
Venezuela
So far I think that the service provided by this company is satisfactory for me. Their transaction cost is within a reasonable range, and I tend to choose a platform that provides MT4 services when I trade, and Mt.Cook satisfies this point. But i saw wrong information on wikifx website, i got a bit scared and i was thinking to withdraw all my money.
Positive
2022-11-27
FX1043926520
United Kingdom
They are my business partners. I am very grateful for their customer service. They always help me solve my problems friendly and professionally. If not them, I can’t gain any profits. Thanks a lot!
Positive
2022-11-24
？4023
Netherlands
Honestly, Mt.Cook’s fees are higher than some other brokers, which can eat into profits over time. Customer service is not professional either, unwilling to help me fix problems.
Neutral
2023-02-27