MTradefx offers several forex trading account types, all of offer variable spreads and the option to trade in micro lots for easier risk management.
The Standard and Swap-free accounts are commission-free, while the ECN and VIP account holders should pay commission fees on each trade. Unfortunately, we could not find information on the broker’s website regarding the amount of the commission fees applicable. We also could mnot open a demo account to test its services.
Although MTradefx’s offerings seem attractive in terms of trading costs (competitive spreads and average minimum initial deposit required), the insufficient information on its website means lack of transparency.
The Company. Security of Funds
A newly-launched broker, MTradefx offers trading in more than 60 currency pairs, as well as indices and commodities CFDs, as well as equities and bonds on the MetaTrader 4 (MT4) platform.
The company behind the brand, M.A.FX Limited., is registered offshore, in Vanuatu. As most of you probably know, little focus is placed on compliance checking and consumer protection in such offshore zones and therefore, doing business with offshore brokers is very risky.
Financial regulation is probably the most important thing for a forex or binary options broker. Your funds will be safe if they are deposited with a broker who is licensed by a reputable agency.
Like most brokers, this one also supports MetaTrader 4 (MT4), available as desktop, web and mobile version.
The MT4 is easy to use and offers full set of professional trading tools: a wide range of technical indicators, extensive back-testing options, advanced charting package, numerous Expert Advisors (EA), allowing clients to fully automate their trades.
MTradefx offers 20% – 50% On-deposit Welcome Bonus. In order to be withdraw any profits from it, you must trade 0.5 Lot for every 1 bonus dollar ($1).
Methods of Payment
MTradefx offers its clients the following payment modes: credit/debit card, bank wire transfer, and e-wallet Neteller.
MTradefx is an offshore forex and CFD broker that supports the renown MT4. Its main disadvantage is that it is registered offshore.
MTradeFX Review Conclusion
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