MurFxMarkets Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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I have been using demo trading on this platform for two months, and the spreads were not as low as they advertised. I traded forex and indices most, and spreads can become as high as 200 pips sometimes, which stopped my further action.
Summary: Mur Fx Markets Limited has garnered a predominantly negative reputation among users and expert reviewers alike, primarily due to its unregulated status and numerous complaints regarding withdrawal issues. Key findings indicate that while the broker offers competitive spreads and a variety of trading instruments, the lack of regulatory oversight raises significant concerns about the safety of client funds.
Note: It is crucial to recognize that the broker operates across different jurisdictions, which may affect its regulatory status. This review aims to provide a fair and accurate assessment based on a comprehensive analysis of available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert reviews, and factual data regarding the broker's offerings and reputation.
Founded in 2019, Mur Fx Markets Limited is an online trading broker registered in India. It primarily offers trading services on the MT5 platform, providing access to various asset classes, including forex, commodities, and indices. However, it is essential to note that Mur Fx Markets Limited operates without any major regulatory oversight, which significantly impacts its trustworthiness and reliability.
Mur Fx Markets Limited is currently unregulated, which is a significant red flag for potential investors. According to multiple sources, including WikiFX, the broker lacks valid regulatory information, making it a risky choice for traders. The absence of regulation means that users may have limited recourse in case of disputes or issues with fund withdrawals.
The broker supports several payment methods, including Skrill, Neteller, and Tether. The minimum deposit requirement is set at $100, which is relatively low compared to other brokers. However, withdrawal processes have been reported as problematic, with many users expressing frustration over delays and difficulties in retrieving their funds.
The minimum deposit for opening an account with Mur Fx Markets Limited is $100 for standard accounts, while the raw account requires a minimum deposit of $5,000. This tiered approach allows for some flexibility, but the higher minimum for the raw account may deter some traders.
There is limited information regarding bonuses or promotional offers from Mur Fx Markets Limited. The lack of attractive promotions could be seen as a disadvantage when compared to other brokers that offer incentives for new traders.
Mur Fx Markets Limited provides a range of trading instruments, including forex pairs, commodities, and indices. However, it does not offer stocks, ETFs, or bonds, which may limit the trading options for some investors. This narrow focus on specific asset classes could be a drawback for those seeking a diversified trading portfolio.
The broker offers competitive spreads, starting as low as 0.2 pips for the raw account, but charges a commission of $7 per transaction. For standard accounts, spreads range from 1.5 to 2.5 pips with no commission. While the low spreads are attractive, the commission structure may not be favorable for all traders.
Mur Fx Markets Limited offers a maximum leverage of 1:500, which is quite high compared to industry standards. While this can enhance potential returns, it also increases the risk of significant losses, particularly for inexperienced traders.
The primary trading platform offered is MT5, which is known for its advanced features and user-friendly interface. However, the absence of MT4 may be a disadvantage for traders who prefer that platform.
Due to its unregulated status, Mur Fx Markets Limited may not be accessible or legal in certain jurisdictions. Potential clients should verify the legality of trading with this broker in their respective countries.
Customer support appears to be limited, with most interactions conducted in English. Users have reported slow response times and difficulties in reaching customer service representatives, which can be frustrating for those needing immediate assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
Account Conditions: The tiered account structure offers flexibility but comes with high minimum deposits for certain accounts. The unregulated nature of the broker diminishes the attractiveness of these conditions.
Tools and Resources: The MT5 platform provides advanced tools, but the lack of educational resources or market analysis can be a disadvantage for novice traders.
Customer Service and Support: Numerous complaints about slow and unresponsive customer service indicate a need for improvement in this area. Users have expressed dissatisfaction with their experiences, further eroding trust in the broker.
Trading Setup (Experience): While the trading setup is generally user-friendly, the unregulated status and withdrawal issues overshadow any positive experiences traders may have.
Trustworthiness: The absence of regulation and numerous negative reviews significantly impact the broker's trustworthiness. This is a crucial factor for potential clients to consider.
User Experience: Overall user experience appears to be mixed, with some users reporting positive trading conditions but many others highlighting serious concerns regarding withdrawals and customer support.
In conclusion, Mur Fx Markets Limited presents a mixed picture for potential traders. While it offers competitive spreads and a range of trading instruments, the lack of regulation and numerous complaints regarding customer service and withdrawals raise significant concerns. Prospective clients should exercise caution and conduct thorough research before engaging with this broker.
