BROKER REVIEW

Comments Rating 1.75 (1 review)

GENERAL INFORMATION

Broker Name:

MTrading

Broker Type:

STP ECN NDD

Country

St. Vincent and the Grenadines.

Operating since year:

2013

Regulation:

IFSC (Belize)

Address:

First Floor, First Saint Vincent Bank Ltd. Building, James Street, Kingstown, St. Vincent and the Grenadines.

Broker status:

Broker

CUSTOMER SERVICE

Phone:

+7-495-268-14-61

Languages:

English, Spanish, Russian, Indonesian, Thai, Vietnamese, Tamil, Hindi

Availability:

Phone, Chat, Email

TRADING

Trading platforms:

MetaTrader 4, MT4 Supreme Edition, MetaTrader 4 WebTrader

Trading platform Time zone:

GMT +3:00

Demo account:

YES

Mobile trading:

YES

Web-based trading:

YES

Bonuses:

YES

Other trading instruments:

Forex, CFD

ACCOUNT

Minimum deposit ($):

$100

Maximal leverage:

1:1000

Spread:

2 pips

Scalping allowed:

YES

A quick glance at MTrading

MTrading is a global forex and CFD broker operating since 2013. It is actively working in CIS countries, emerging markets of Africa, South America and some of the largest cities of the Asia-Pacific region. The broker is based in Belize. Nowadays, it has extended the list of services provided. It offers trading in financial markets, partnership programs and investing, as well as training in trading. MTrading allows trading currency pairs, stocks, precious metals, indices, cryptocurrencies and fossil fuels.

Through state-of-the-art software, Energy Monitoring Software, the broker gives customers easy access to financial markets, assisting them with valuable information.

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The broker does not provide services in certain regions. It is not available for the traders based in the US, Canada, UK, Germany, and New Zealand. It makes MTrading a limited option. Due to legal restrictions, some features and products may not be available to customers from specific countries.

Regulations and Licenses at MTrading

The IFC International Financial Services Commission IFSC of Belize regulates the broker under the company ServiceCom Ltd. The regulation guarantees the security of trade.

The membership with the broker is suspended because of the prolongation of the contract. You can monitor this information on the IFSC website.

By industry regulations, the customer’s funds must be segregated from their assets in a regulated banking institution. It serves to ensure that customer funds are always available to them, and cannot be used by the broker for any purpose like business running costs.

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Even though the company is registered with the Financial Commission, it is not regulated under any entity, which is never a good sign. MTrading can not give you the same protection as a regulated broker.

Trading Platforms provided by the broker

Trading offers its services on a downloadable version of the popular MetaTrader 4 platform for trading forex and CFDs.

MT4 is a widely used software among brokers around the world. It provides everything traders need. It is easy to use, has several technical analysis indicators, the capacity to develop and use EA, and an advanced charting package. You can choose from many different time frames and place a trade with a single click.

The desktop version of the MT4 runs on Windows and MAC. It offers heightened trading tools. The features the platform provides are customisable user interface, trading chart templates, charting on multiple timeframes, real-time asset price quotes. MQL editor creates customised trading indicators, scripts and EAs. Strategic tester tests EAs over historical data. Furthermore, the MQL community enables customers to share trading tools and ideas with other traders. The platform has price alert notification through SMS, email and popups.

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MT4 provides a web-based version for the customers who prefer trading using a web browser. It gives traders instant access to trading through most modern web browsers.

Mobile version is available too. You can access trading anywhere around the world with the mobile application. For those who are always on the go and need to manage their account, this version is exceptionally compact.

Demo Account

For anyone who wishes to gain trading experience without using their own money, the broker offers a Demo account. Once you gain more experience and feel comfortable enough to trade Forex and Forex markets, you can move over to a live account using your funds. However, there are not any additional details provided about the Demo account by the broker. You can not find out the number of virtual funds available or the amount of time a customer can keep the demo account open. Limited information is somewhat confusing.

Trading Conditions Offered by MTrading

Initial deposit to trade with the broker is $100. This is a little higher than the standard required in the market. The permitted minimum lot size is 0.01. MTrading offers more than 70 assets consisting of currencies. The selection of instruments MTrading provides include more than 35 Forex currency pairs, ten indices, four spot metal CFDs, three energies, five cryptos and more than 50 stocks. 

As we’ve seen, the maximum leverage offered by the broker is 1:1000. It is difficult to manage risk properly with such leverage ratios. So, it is better to consider it thoroughly beforehand.

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MTrading deposit/withdrawal methods and fees

The withdrawal of funds is available for authorized and verified traders only. Processing time is around 60 minutes during working hours. In some instances, it took a bit longer, so you can expect it to be carried out within 24 hours.

Mtrading supports five methods of depositing. All channels do not have a minimum deposit.
The great thing about depositing through a bank is that there are no deposit fees. Withdrawal fees are at 1%.

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Another convenient way to deposit up to $ 14,500 is via debit credit cards, such as visa and MasterCard. Fees for deposits and withdrawals are 2.5%.

Depositing money via Neteller is a fast and easy way to withdraw money. Processing time is within 24 hours, and fees are at 1%.

Skrill is also a fast and convenient way to withdraw money. Processing time for withdrawals is within 24 hours, with a fee at 1%.

Depositing money via Prepaid Card is a convenient way to combine funds quickly as well.
Standard banking systems are available as supported payment methods for transferring funds. However, it would have been better if they provided more options.

MTrading does not accept third-party payments. All funds that are placed into your trading account must be under the name of your MTrading trading account.

The broker fees can change and vary, so you should ensure to check all the latest info before opening an account for trading.

Account types on MTrading

Mtrading provides two different account types for novices and experienced traders. There are two available accounts for the traders, and they differ from each other by the minimum deposits, trading instruments and spread.

Pro account provides 20 trading instruments. The minimum deposit here is $500. The spreads start from 0 pips, and leverage is 1:1000.

Premium account offers a more vibrant product portfolio. It includes 100 trading instruments such as stock, commodity, index, and cryptocurrency CFDs. However, for the average forex industry, the typical spreads are average.

Spreads fall within the range of 1 to 1.5 pips on EUR/USD, with a minimum deposit of $100. This account is commission-free. Leverage is the same as the previous account.

Micro lots are only available on the Premium account.

Opening an Account at MTrading

Starting trading at MTrading requires just a few steps. The broker requires you to fill a simple registration form, where you have to provide your name, email address, the country you live in, and your phone number. Then you will receive a request of confirmation on the email. After approval, you will be able to log into the trader’s room. There you can choose an account and a payment method to finance your account. Once it is funded, you can download MetaTrader 4, or launch Web Trader.

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Education and training at MTrading

The broker provides materials about trading, terminals and affiliate programs. The website offers a lot of books, seminars, video lessons, webinars and real analytics.

MTrading arranges educational events in over ten countries with financial professionals and keynote speakers.

The broker also provides articles and tutorials covering lots of different subjects.

Market news is frequently updated with expert guidance on potential future market movements.

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Customer Support

MTrading support team is reachable via phone, live chat and email. They are available during the working days. Even though their representatives can provide the answers you need, it can take a long time until you reach them.

Conclusion: What do we think?

There are a lot of reviews about the broker on the internet. Some traders note positive aspects such as professional analytics, favourable trading conditions, a broad selection of assets, and low spreads. However, there are a lot of negative reviews related to terminal issues, problems with the support team, difficulties during withdrawal of funds, including refusal of withdrawals without any explanation. The responses MTrader customers gave not only changed the broker’s rating but gave warning to the market players of possible problems they may face.

Considering the user reviews, they don’t seem to have a good reputation in the market. It indicates that their credibility has not been established yet.

After reviewing the broker carefully, we consider that MTrading should not be trusted.

COMMENTS

One Response

  1. Avatar Billy J 20.08.2020

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Comments Rating 1.75 (1 review)

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