It also maintains a compensation fund with coverage of up to €20,000 per claim. Members pay annual fees and submit financial results which the Financial Commission audits. It operates like a regulator but allows brokers to remain competitive in their offerings and flexible with their trading conditions.
The broker customer support is provided via online chat, telephone and email. They are usually prompt and polite in their responses from my experience. I appreciate how they have taken the time to reply to feedback online, both positive and negative. This shows me that the broker cares about their reputation.
Markets
I find it to be very user-friendly with plenty of tools for analysing charts to spot trading opportunities. One of the things that helps differentiate MTrading from other brokers is that they provide various versions of MT4, including the standard terminal, MultiTerminal and supreme edition. Countering the absence of regulation, trustworthy brokers become members of the Hong Kong-based Financial Commission. MTrading is a compliant member, segregates client deposits from corporate funds, and offers negative balance protection. It is an independent self-regulatory organization and external dispute resolution (EDR) body and has become more trusted than most regulators.
- I always recommend that traders check them before evaluating the total trading costs.
- MTrading is an unregulated broker offering investing in forex, indices, stocks, and commodities.
- However, there is also no commission fee on this account type and you can trade standard lot sizes with a reasonable minimum deposit requirement of $100.
- Customer service only ask me to change password of the mt4 mpro account.
Whilst not the lowest spreads in the market, the broker is transparent and breaks down fees in its contract specifications page. MTrading is not regulated by any regulatory body and its head office is in St Vincent and the Grenadines. The brokerage offers a modest range of instruments with excellent tools, including a copy trading service. There is the option of a free demo account as you would expect from most brokers.
Forex Trading Details
Another bonus is the 200% deposit bonus, but it only applies to the more expensive Premium account. Terms and conditions apply, and I recommend traders read and understand them before accepting a bonus. MTrading does not offer 24/5 customer support and only presents a live chat function. It does not provide contact details, and an e-mail address exists for clients in the back office. The FAQ section answers many questions, and while MTrading explains its products and services well, I would prefer better access to a representative in the case of emergencies.
Payment Methods
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MTrading Details
It should be strongly emphasised that as MTrading is an offshore broker, they are able to provide certain features. However, they cannot give you the same protection as some other regulated brokers can. If this bothers you, then please feel free to peruse our best trading brokers for other options. The investing experience offered by MTrading is simple and straightforward.
There are a variety of electronic payment systems, bank cards, and wire transfer options. I like how you can use digital wallets as I find this to be the most convenient way to move funds around between my trading accounts. I don’t always want to wait days for a bank transfer to clear.
Here is a screenshot of the MTrading MT4 platform during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Compare MTrading with the top 3 similar brokers that accept traders from your location. Processing times for credit/debit cards are typically instant, e-wallets are processed within 24 hours and wire transfer can take 1-3 working days. The broker was established in 2012 and has since grown into 10 offices globally with over 250,000 customers. The company predominately operates in Africa, Latin America and Asia with customers in Nigeria, Thailand, Malaysia and beyond. Download MT4 to experience trading with ZERO spreads, advanced tools and indicators, automated trading and more, without requotes and strategy restrictions.
The Minimum required traded Lot size to withdraw the profits is 5 Lots. Once the first withdrawal is made, 30$ will be deducted from the Client’s Account. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based MTrading Pro account.
MTrading operates out of St. Vincent and the Grenadines, where the financial regulator, the Financial Services Authority, does not regulate Forex brokers, as stated on their website. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with MTrading please share your personal review of the broker and what you think are strong and weak points.
Genuine brokers register as an international business company (IBC) in St. Vincent and the Grenadines and are permitted to operates as Forex brokers. This is exactly the same as a live account but the volumes executed in the demo account don’t impact the market. MTrading (ServiceComsvg Ltd.) is registered with the Financial Services Authority of Saint Vincent and the Grenadines.
The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites.
To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. MTrading is an award-winning online trading services provider.