MX Trade Review
Overview
Company Information MXTrade is one of the relatively new online Forex trading brokers that originates from Cyprus. The brand is the property of the giant Lau Global Services Corporation and… more
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| Broker | MX Trade |
|---|---|
| Website URL | https://www.mxtrade.com/ |
| Founded | 2011 |
| Headquarters | Belize City, Belize |
| Support Number | +442031294080 |
| Support Email | cs@mxtrade.com |
| Support Types | Phone, Live Chat, E-mail |
| Languages | English, Italian, Russian, Arabic, Spanish, Portuguese, Chinese, German, French |
| Minimum Trade Amount | 0.01 lots |
| Maximum Trade Amount | 1,000 lots |
| Free Demo Account |  |
| Regulated | |
| Regulation | International Financial Services Commission of Belize |
| Account Types | Regular, Silver, Gold, Platinum, Islamic |
| Deposit Methods | Visa, MasterCard, Swift, CashU, PaySafe Card , WebMoney, Yandex Money, Moneta, Skrill, China UnionPay |
| Withdrawal Methods | Visa, MasterCard, Swift, CashU, PaySafe Card , WebMoney, Yandex Money, Moneta, Skrill, China UnionPay |
| Types of Assets | Forex, Metals, CFDs, Shares, Indices |
| Account Currency | USD, EUR, GBP, JPY |
| US Traders Allowed |  |
| Mobile Trading | |
| Tablet Trading | |
Full Review
Company Information
MXTrade is one of the relatively new online Forex trading brokers that originates from Cyprus. The brand is the property of the giant Lau Global Services Corporation and offers its financial services to 140 countries worldwide. US traders are not allowed on the platform. MXTrade is a fully licensed broker regulated by the IFSC in Belize. Despite their short history, the company has already built a very well maintained platform where expert and novice traders can experience stellar Forex trading service. They offer very tight spreads and a wide variety of trading tools and features. Dedicated account managers and latest technologies are combined to create a safe and pleasant experience to traders. Promotions and Partnership programs are updated every few months, so clients can be intrigued and entertain while using the online platform. Let’s see what other opportunities you can find at MXTrade.
Trading Information
For starters, the website that MXTrade have created is innovative and follows the latest trends. It is easy to use and creating an account is simple. There are four types of accounts you can choose. The Beginner account has a low deposit requirement of just $250. It offers almost all the benefits of the other accounts but has variable spreads. The “Free VPS” and “Free Bank Wire” options are missing. The Silver account is pretty much the same as the Beginner account but has a much larger deposit requirement of $5000. Next is the Gold account. Here you’ll receive some great benefits such as fixed spreads, free bank wire transfers, and free VPS. It requires a $20 000 minimum first deposit. The last one is the Platinum version where you need a $100 000. Otherwise, it’s the same as the Gold one regarding benefits. MXTrade should explain the differences between these accounts better because it doesn’t make sense to make a Silver or Platinum account, so you just have to make a higher deposit. There are surely more benefits, but they are not mentioned on their website. As far as trading features go, all accounts offer mobile trading, daily analysis, account manager and 24-hour support. Islamic accounts are also available.
Trading Platforms
The platforms that the people from MXTrade have provided are excellent and cover most nowadays devices. For Desktop you have the trustworthy and stable MT4 platform that has been proven as one of the best throughout the years. You have over 250 trading instruments at your disposal and many customization options. It offers automated trading, analysis tools, and superb chart setups. The key advantage here is that you can access the full features from your Apple or Android device. You’ll just have to download the dedicated application from the application stores. Now, MXTrader offers something that many other brokers are lacking, and it’s a WebTrader platform. It enables you to login to your account without downloading any additional applications and software. This option is very helpful for people who don’t use their own devices but still want to check on their trading opportunities.
Security and Customer Services
Being safe when dealing with large amounts of funds is essential when you’re at a Forex online broker. That’s why MXTrader has implemented a very secure SSL encryption all over their website. Also, they offer the option of a segregated account where your funds are separate from the companies. Customer support is great starting with the Demo Account option where you can experience the platform without risking any funds. To the educational materials, they provide for beginner traders. A thorough FAQ section is available where clients can find answers to the most asked questions. The customer care team has 24/5 coverage, and there are many ways to contact them. You can call them on the provided phone numbers or request a callback. There is a live chat option, and you can also contact them on their social media profiles (Facebook, Google+, Twitter and LinkedIn). The website is translated into nine languages, and there are a dedicated phone number and support in all of them. Last but not least there is a physical address for their office in Belize.
Deposits and Withdraws
There are plenty of deposit methods provided by MXTrader. As we already mentioned the minimum deposit requirement is $250 and the maximum is $100 000. Your account can be in US dollars, Euros or British Pounds. The maximum account size for the Beginner account is $2 000 000. With over eight deposit methods available, it’s pretty easy to choose the best one for your needs. There are zero fees on deposits and the processing times are quite quick. Most of them are instant with only wire transfer taking from 2-5 business days. Withdrawals can be made the same way you deposited the money. Processing times are fast with a usual time frame one business day and up to 5 business days. There are no withdrawal fees mentioned on their website. Only one withdrawal request per day is allowed.
Deposit Bonus and Loyalty Programs
MXTrade offers excellent promotions and gifts. Your first deposit will be matched 100%, and you can learn all about it on their “Terms& regulations” page. Another exciting promotion is the free Apple Watch for every new client that makes an account on the platform. The requirement here is to deposit $2500 or more and trade at least 250 lots. You can choose from five different kinds, but every one of them has a different bonus release requirement.
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