MBA Trade Review
MBA Trade offers four types of accounts: Standard, Premium, Universal and PRO STP, plus a free demo account with up to $50 000 virtual money. The Standard and Premium accounts are commission-free with fixed spread, while the Universal and Pro STP ones offer variable spreads and are referred to as ECN accounts.
There are also Islamic accounts with additional swap-free option where no swaps or rollover interests are charged during overnight positions, as per the Islamic Sharia law where extra rewards (swaps) are forbidden.
When we tried out MBA Trade’s demo MT4 platform, there weren’t any cryptocurrencies available for trade and the spread on EUR/USD was fixed at 3 pips. First of all, such spread is not consistent with the any of the above account types, which means that MBA Trade does not provide transparent pricing. Second, a 3 pips spread is very high. By comparison, easyMarkets, a broker licensed in Cyprus, offers fixed spreads at 1 pips on EUR/USD.
The Company. Security of Funds
Company Country Regulation
MB Alliance Ltd Georgia, UK? No
According to the information on the broker’s website, MBA Trade is owned and operated by MB Alliance Ltd. – a company based in the Republic of Georgia, or at least it claims so, but it does not appear to be regulated there or anywhere else. Besides, it provides a phone number with the country code of UK and claims to maintain offices in Qatar, Indonesia, Philippines and Brazil.
When we downloaded the broker’s MT4 platform, however, we found it is provided by another company – PT Millennium Buana Artha. We googled it and the firm appears to be a major shareholder in MB Alliance Ltd.
The above said is a strong signal for potential clients to be extra careful, as the company may be a scam.
Even though not all unregulated brokers are fraudulent, investing with them is generally risky, as they do not abide by any rules and requirements.
Generally, it is highly advisable that potential clients do a thorough research before investing their hard-earned money and do not fall for “get rich fast” promises. Instead, they should choose a broker regulated by reputable financial watchdogs and avoid like the plague unregulated ones.
MBA Trade offers trading on the immensely popular MetaTrader 4 platform. It lets users develop and implement their own strategies, place market and pending orders, trade from a chart. The platform features instant execution, stop orders and trailing chart, tick chart, trading history, and technical analysis tools.
Methods of payment
MBA Trade’s clients can fund their accounts through bank wires, with credit/debit cards (Visa, MasterCard, Union Pay) and through the electronic payment systems Paypal, Skrill, Payeer and multipayment with OKPAY, etc.
MBA Trade is an unregulated forex and CFD broker, whose headquarters are unclear. It offers trading on the MT4 platform, but trading conditions on demo account differ from the ones announced on the website.
MBA Trade Review Conclusion
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