MTrading Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this MTrading Review.
MTrading Review
MTrading offers its clients a choice of 2 basic account types – a commission-free one, called M.Standard, and an ECN account, called M.Pro. Both account types offer variable spreads a leverage up to 1:1000.
Micro lots are available for trade solely on the M.Standard account. This account offers a richer product portfolio (including stock, index and commodity CFDs), which is a little bit unusual. On the other hand, solely ECN account holders have access to Social Trading, Managed accounts (MAM Investor), and Autochartist.
In fact, average trading costs per lot on the 2 account types offered by MTrading are similar and competitive – falling within the average range of 1.0 – 1.5 pips on EUR/USD.
In comparison, Belize-based FX Choice, a company with more 10 years of experience with online forex trading, offers average variable spreads of 0.5 pips on EUR/USD + $7 per lot (round turn) on its ECN accounts. For further information, you may check out and compare real-time spreads of 15 leading brokers here.
As regards the leverage, we find the maximum leverage level offered by this broker too high (1:1000). Proper risk management is difficult with such leverage ratios, so consider it carefully beforehand.
The Company. Security of Funds
Company Country Regulation
ServiceCom Ltd. Belize IFSC
MTrading is an ECN/STP offshore broker offering trade in around 31 currency pairs, various energy, indices and stock CFDs, as well as precious metals on the popular MetaTrader 4.
The company behind the brand is ServiceCom Ltd. – a Financial Services Company, authorised and regulated by the International Financial Services Commission (“IFSC”) of Belize. The broker operates in key cities in Asia-Pacific and the emerging markets of Africa and South America.
Belize is a famous offshore destination for financial service providers, where the regulation and licensing requirements are looser compared to other jurisdictions. Lately, however, regulation in Belize tightened (as of the end of 2015 and the beginning of 2016). IFSC increased the initial minimum capital requirement for financial and commodity-based derivatives brokers from $100,000 to $500,000. Besides, IFSC has increased the annual license fee from $5,000 to $25,000.
So, regulation in Belize is better than the one in the St. Vincent and the Grenadines for example, where brokers follow simple registration procedure and don’t have to comply with any requirements as regards minimum capital or segregation of client’s’ funds. Still, investing in companies registered in offshore zones is risky and if you intend to invest a large amount of money, we would advise you to select among brokers licensed in UK, or Cyprus, for instance, where regulation is strict and there are compensation schemes, which will protect your money if your broker becomes insolvent.
Trading Platform
MTrading offers its services on the popular MetaTrader 4 platform (MT4). The MT4 is available as PC, web and mobile versions.
This fully-featured software provides traders with everything they need: ease of use, a number of technical analysis indicators, advanced charting package and the ability to develop and use Expert Advisors (EA). There are many different time frames to choose from and you can place a trade with a single click or within a chart.
Furthermore, Mtrading offers its clients its customized version of the platform, called MT4 supreme with some interesting features (and a design in pink & purple). There is a Mini Terminal for fast and simple trade management, a Trade Terminal (which combines Mini Terminal features and new functionality for smooth trade management), Tick Chart Trader For simplified chart tracking, and Indicator Solutions. The Indicator Solutions Feature keeps track of your order history, and enables access to trading signals.
Methods of Payment
Clients of MTrading are offered a variety of payment modes to choose from: credit/debit cards, bank wire transfers, and the following e-wallets Skrill, & Neteller.
MTrading is an offshore ECN/STP broker, offering competitive conditions for trading in various currency pairs and CFDs on the MT4 platform. Its main disadvantage is the light-touch regulation.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
MTrading Review Conclusion
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