MBCHAINS REVIEW

Comments Rating 4.44 (177 reviews)

GENERAL INFORMATION

Broker Name:

Mbchains

Broker Type:

Forex and CFDs

Country

N/A

Regulation:

N/A

Address:

60-80 St Mary Axe, London

Broker status:

Active

CUSTOMER SERVICE

Phone:

+18009618537

Languages:

German

Availability:

24/5

TRADING

Trading platforms:

Proprietary

Trading platform Time zone:

GMT

Demo account:

N/A

Mobile trading:

Yes

Web-based trading:

Yes

Bonuses:

N/A

Other trading instruments:

N/A

ACCOUNT

Minimum deposit ($):

$250

Maximal leverage:

1:400

Spread:

Floating

Scalping allowed:

Yes


Mbchains Review: What it has to offer

Mbchains Home Page

First Impression

Although Mbchains broker does not possess legal authorization from a higher financial authority, they are transparent about this fact. We decided to evaluate their offerings objectively, and while we identified some red flags, we did not conclude that the broker is a fraud in this Mbchains assessment.

Mbchains has appealing characteristics and features that may outweigh the absence of a license. The user interface is user-friendly and intuitive, with all the perks and advantages over competitors clearly displayed on the homepage.

The broker specifies a minimum deposit requirement of $250, offers a leverage of 1:400 (higher than market norms), and provides a low spread of 0.1 pip, which is attractive to traders. Additionally, Mbchains offers trading options in 32 virtual currencies, 11 indices, and 55 currency pairs.

While it’s important to consider the absence of authorization from a reputable financial authority, traders can conduct further research and exercise caution before deciding to engage with Mbchains as a broker. 

Withdrawals at Mbchains

MBchains offers withdrawal options for its users, but it’s important to be aware of the associated fees and processing times. According to the brokerage firm, there is a $25 fee for withdrawals up to $5,000, and wire transfers are the primary method used for withdrawals. It is mentioned on their website that wire transfers may take up to 6 days for processing.

While Mbchains claims to provide quick service, our Mbchains review indicates that the withdrawal process may take longer than expected. Additionally, it is worth noting that alternative payment methods may incur fees of up to $20.

To initiate a withdrawal on Mbchains, you would follow these steps:

Register and login to your account.
Access the withdrawal section.
Choose a withdrawal method and follow the provided instructions.
Process the withdrawal request.
Monitor the progress of the withdrawal.

It is essential to review and understand the specific withdrawal policies, fees, and processing times provided by Mbchains before initiating any transactions. 

Account Types

Mbchains offers a range of account types to cater to different types of traders. Our Mbchains review found that there are five account categories available: bronze, silver, gold, premium, and platinum. Additionally, the broker provides demo accounts for users to practice trading without risking real money.

While some may consider the number of account categories to be relatively limited, it is important to note that Mbchains likely targets a specific clientele with these options. The account types are designed to accommodate traders with varying experience levels and investment preferences.

It is recommended to review the specific features, benefits, and requirements associated with each account type on the Mbchains website to determine which one aligns best with your trading needs and goals. 

Mbchains Accounts Overview

Demo Account

Mbchains offers a demo account feature that allows traders to practice their trading strategies and gain experience without the need to deposit real money. This is a valuable tool for both beginners who are new to trading and experienced traders who want to test new strategies or familiarize themselves with the broker’s platform.

With a demo account, traders are provided with virtual money by the broker, which can be used to simulate real trading conditions. The advantage of using a demo account is that there is no financial risk involved since no real money is invested. This means that even if the broker does not have a license, the demo account remains a safe and risk-free environment for learning and practicing.

By utilizing the demo account, traders can gain valuable insights, refine their trading skills, and test various trading techniques before committing real funds. It is a recommended practice to utilize the demo account feature to build confidence and familiarity with the trading platform before transitioning to live trading with real money. 

assets without having to possess them yourself

Trading Platform

Mbchains offers a user-friendly and convenient trading platform called Webtrader. This platform provides all the necessary features for a comprehensive market analysis. While its capabilities are comparable to Metatrader, Webtrader offers additional convenience and flexibility.

One notable advantage of Webtrader is its optimized performance. Unlike Metatrader, which may experience slower loading times and performance issues when multiple chart tabs are saved, Webtrader avoids these problems. It is highly optimized and less likely to freeze or experience performance degradation.

The asset menu on the left side of the Webtrader platform makes it easy to navigate and browse through different assets. This feature is particularly useful when dealing with a large number of chart tabs. Instead of struggling to find the desired asset among multiple tabs, Webtrader allows you to simply scroll through the asset list, select the desired item, and view its chart with a click.

Overall, Webtrader provides a seamless and efficient trading experience, enabling traders to conduct thorough market analysis and navigate between assets with ease. 

Mbchains Trading Platform

Additional Information

Mbchains.com offers a comprehensive learning center that provides traders with valuable educational resources. The learning materials are divided into different categories, with a specific focus on learning to trade Forex. The “Learn to Trade Forex” course consists of seven lessons covering various aspects of Forex trading, starting from the basics such as pips and progressing to topics like technical analysis, charting, margin, and more. This allows traders to learn at their own pace and gain a solid understanding of the Forex market.

In addition to the course, Mbchains.com also provides instructional videos that help traders grasp the concepts of Forex trading, both specific to Mbchains and the Forex market in general. The broker also offers webinars, although registration may be required to access them. With these resources, traders have multiple options to expand their knowledge and enhance their Forex trading skills.

When it comes to customer support, Mbchains.com emphasizes the importance of providing assistance to traders whenever they need it, regardless of their location. The customer support team is competent and proficient in various languages, including English, Spanish, German, Russian, and Arabic. Traders can contact the customer support staff through multiple channels, including trading platforms, mobile devices, as well as dedicated email and phone lines for urgent assistance. During the evaluation, the customer support team was prompt, courteous, and helpful in responding to inquiries, demonstrating their commitment to providing excellent customer service.

Overall, Mbchains.com offers a strong educational foundation and reliable customer support, ensuring that traders have access to the assistance they need to navigate the Forex market effectively. 

Mbchains Additional Information

Final Verdict

Despite the absence of regulatory authorization, our assessment of Mbchains suggests that it remains a reputable choice for traders. The platform offers a satisfactory range of features, some of which even exceed industry standards.

Mbchains provides 24/7 customer support through live chat, ensuring prompt assistance. Withdrawals can be made using various methods, including Visa, Mastercard, and bank wire. The broker’s commission structure is detailed in the terms and conditions section. The WebTrader trading platform is the sole platform utilized by the broker.

While Mbchains may not be the top overall solution, it is still a viable option, particularly for beginners. The availability of a Demo Account allows traders to practice and improve their skills without risking real money.

Throughout our review, we found Mbchains to be one of the top Forex brokers available. The broker offers an impressive range of features, making it worth considering. With a focus on safety, security, transparency, and modern trading experiences, Mbchains aims to cater to the diverse needs of Forex traders.

Mbchains assures that whatever you’re seeking in a Forex broker, you can find it with them. After careful evaluation, we recommend giving Mbchains a try and embarking on your Forex trading journey with confidence. Don’t hesitate any longer and start trading with Mbchains today! 

COMMENTS

50 Comments

  1. Mbchains Review, Mbchains Review Gabriel McDowall 12.04.2024
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  27. Mbchains Review, Mbchains Review Grace Kauffmann 28.12.2023
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Comments Rating 4.41 (50 reviews)