MFX Broker-Broker Review
MFX Broker is a Forex broker from Russia that allows to trade with Forex, commodities like gold and silver, contracts for difference based on different assets like stocks and futures on indices and binary options. It offer different services for its clients including ECN trading accounts.
Type of broker
MFX Broker MFX Broker is a ECN/Non Dealing Desk broker.
MFX Broker is a Forex broker from Russia and is regulated by CRRMFM, a regulation entity for financial services companies.
Country of origin
The headquarters of MFX Broker are located in Russia.
- Forex: MFX Broker allows to trade with 28 different currency pairs from the most important like EUR/USD to other more exotic like GBP/USD.
- Commodities: Gold and Silver in the spot market.
- CFD on Futures: MFX Broker offer CFDs on Futures of Indices (E-mini S&P 500, E-mini NASDAQ-100, E-mini Dow and others), Interest rate and obligations (EuroBund, 3-Month LIBOR and others) and commodities (Natural Gas, oil and others).
- CFD on Shares: Contracts for Difference based on 20 different shares of the US Market (Coca Cola, AT&T, Exxon and others).
MFX Broker offers various types of trading accounts for clients with different profiles which have the following features:
- Standard Cent Account: Designated to clients that are new to the Forex market and wish to risk a smaller amount. This account can be opened with $1. This account offer only Forex trading.
- Standard Dollar Account: Is a trading account designed for traders with a little more experience in the market. This account can be opened with $5. This option offer Forex and CFD trading for the clients.
- ECN Accounts: This account is for investors who desire to take advantages of the ECN execution, like very low spreads and fast executions. The ECN account can be opened with a minimum of $500. No limit of opened positions.
- Islamic Forex Accounts: MFX Broker offer the possibility to open a Islamic account version of their 3 trading accounts types. The Islamic accounts are swap-free, according with the muslin religion.
- PAMM Account: This is a special type of trading account created specifically for Money Managers and for investors interested in investing in the Forex market who do not have the time, knowledge or ability to perform trades in the market by themselves. Through the MFX Broker PAMM accounts, the investor deposit funds in the selected account and allows an expert trader (account manager) to make transactions in the market using this capital, of course for a commission over the profits. Account Managers for their part, can invest in the market with the trading strategies they deem most appropriate using the capital deposited by their clients (investors) through the MT4 multiterminal platform which allows to include in a single application, all investor accounts with multiple functions that facilitate the management. Through PAMM accounts, even a person who knows nothing about the Forex market can invest and make money in this financial market. More information about MFX Broker PAMM accounts can be obtained through the following link:
Yes, with no limit of time.
The Forex broker MFX Broker offer a downloadable trading platform based on Metatrader 4 that allows to trade with all instruments offered by this company. It offers this platform in 3 versions:
- Metatrader 4 for PC: Is the classical Metatrader 4 for PC. Is an application with multiple trading tools for the client, like advanced charts and technical indicators. Allow the use of automated trading systems.
- Metatrader 4 for smartphones: Is a version of Metatrader 4 designed to be used with smartphones. This application allow to control the trading account and open/close positions from anywhere on the world.
- Metatrader 4 for windows mobile: This application is designated to control the trading account using any mobile advice that use Windows Mobile and Windows CE.
The client of MFX Broker can make deposits and withdrawals by bank wire, credit cards, Skrill, Neteller and Webmoney.
Main Advantages of MFX Broker
- It is a regulated Forex broker.
- MFX Broker have a good customer service by phone, e-mail and live chat in their website.
- Low fixed spreads.
- It offer an ECN account.
- Allow hedging strategies.
- Allow Forex autotrading by Expert Advisors.
- 3 options of trading accounts.
- Free analysis reviews of the market.
- Free analysis tools like charts, economic news and a economic calendar.
- No commissions for Forex trading (except for ECN accounts).
- Islamic trading accounts (swap free accounts) for clients of Islamic religion.
- This broker offers several trading contests for demo and real accounts which offer significant cash prizes for the winners..
- MFX Broker have an affiliate program (a multilevel program) which offers the possibility to earn an extra income by promoting the services of this broker.
Main Offers of MFX Broker
- Currently this broker offers a 75% welcome bonus for all traders that open a trading account with MFX Broker and deposit funds.
Other Categories of this broker
- Managed Account broker.
- Gold Broker.
- Silver Broker.
- Metatrader 4 broker.
- CFD broker.
- ECN broker.
|Minimum account size||$1 for the Standard cent account.|
|Minimum lot size||0.01 lot.|
|Maximun Leverage||1:500 for Forex and 1:10 for CFD.|
|Spreads||Fixed spreads from 2 pips for EUR/USD for the regular accounts.For the ECN account the spreads are lower.|
|Link to the website||MFX Broker Website|
|Open an account|