Mocaz Financial Markets Review
While most brokers usually offer several account types, Clients of Mocaz Financial Markets are offered a choice of 6 account types: Micro, 2 Mini, 2 Standard, as well as ECN one. Maximum leverage available varies by account types, reaching 1:500, and micro lots are offered on mini & micro accounts.
With this broker, all accounts are swap-free (Islamic) by default.
Besides, Mocaz Financial Markets offers advanced autotrading feature that allows you to automatically copy any trade made by other traders (master account) with a selected condition in lot size, take profit and stop loss area.
AutocopyTrades will be automatically executed in MetaTrader 4 trading platform and are available to all account type holders, except ECN ones. ECN account holders, however, are able to use 2 additional trading platforms: Netstation and ClearPro.
Mocaz Financial Markets has set a low minimum initial deposit requirement ($10) and offers high leverage levels, reaching 1:500. Nonetheless, many forex brokers offer leverage equal to or exceeding 1:500.
As regards the cost of trading with this brokerage, we find it comparatively high:
2 pips on mini and micro accounts and above 1.5 pips on Premium Standard. The only two account types of Mocaz that offer tight spreads are Standard Pro & ECN, however one has to deposit at least $10 000/$5 000 respectively. Considering that this brokerage is currently not regulated, we would not advise traders to invest large amounts of money with Mocaz Financial Markets.
The Company. Security of Funds
Founded in 2011, Mocaz Financial Markets claims to be a pure STP brokerage offering trading in a number of currency pairs and various CFDs. Apart from the popular MetaTrader 4, It utilizes advanced autotrading feature, as well as two additional ECN platforms.
Behind this brand is Mocaz Financial Markets Limited, a company registered in the St. Vincent and the Grenadines.
The company used to be regulated by the New Zealand’s Financial Markets Authority (FMA), however it revoked its NZ license in in February 2015. The broker then announced it is seeking new jurisdiction to run their business, however, currently it still is unregulated.
In other words, if you intend to invest a large amount of money, we would advise you to select among brokers, duly authorized and regulated by ASIC, CySEC, or UK’s FCA for instance, where your funds will be safe.
As most brokers, Mocaz Financial Markets uses the popular MetaTrader 4 platform. In addition, ECN trading account holders are offered Netstation and ClearPro platforms, developed by CFH Clearing (a FCA-regulated prime brokerage and fintech company).
Mocaz’s NetStation is a web-based workstation utilizing java technology for fast access to streaming financial data, business news and professional charting facilities with true ECN connectivity. It supports multiple internet browsers and languages and is suitable for all types of traders.
ClearPro platform, on the other hand, introduces a fresh perspective on the ever-evolving forex market and incorporates valuable customer feedback into its design. It offers intuitive and flexible interface incorporating tier-1 liquidity feed for ECN connectivity.
In addition, the broker supports the award-winning MetaTrader 4 (MT4), the preferred choice of most experienced traders. The MT4 offers all a trader needs: a number of technical indicators, extensive back- testing environment, advanced charting package and a wide range of Expert Advisors (EAs).
Social Trading is also available with Mocaz Financial Markets through their RealTrader Community:
Methods of Payment
Mocaz Financial Markets offers its clients wide range of payment options, including: bank wire, credit card, e-wallets Neteller, FasaPay, and PayPal.
In addition, this brokerage provides SmartVault – a free, easy and effective way to fund your trading accounts.
Mocaz Financial Markets offers a wide range of trading accounts & platforms, as well as advanced copy and social trading features. However, we find its spreads a bit too high, and what is worse, Mocaz is not regulated.
Mocaz Financial Markets Review Conclusion
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