What is MTrading?
MTrading is an online brokerage that was first established in 2012. It mainly provides its clients quick and easy access to trade in the markets pertaining to Forex, Stocks, Commodities, and Indices. In addition, MTrading offers market-leading trading platforms along with competitive conditions that are designed to suit the client’s needs, whether a seasoned or novice trader.
MTrading has established several offices around the world, with most of it located in key cities in the Asia-Pacific region as well as in the emerging markets of Africa and South America. The online brokerage currently serves over 250,000 clients across the globe, according to its website.
In this review, we will take a brief look at some of the features and services that this online brokerage provides and see if it does hold up to its reputation or not. In addition, we will determine whether the broker is a safe choice for interested traders.
MTrading: Services and Offerings
While MTrading offers the following services to clients residing in almost any part of the globe, some offers may differ depending on the location of the client. Furthermore, clients residing in certain countries such as the United States, Japan, United Kingdom, Canada, Germany, and New Zealand may also not be able to gain full access to its services due to legal restrictions.
• Trading Instruments
MTrading offers a fairly wide array of financial instruments to trade with. Its listings have over 35 Forex currency pairs, 10 Indices, 4 Metals, 3 Energies, and over 50 major Stocks from all over the world. MTrading also offers 5 Cryptocurrencies to invest in, including Bitcoin, Litecoin, Ethereum, etc.
• Account Types
MTrading offers two types of trading accounts – the Premium Account, and the Pro Account.
The Premium Account grants clients access to trade with over 100 financial instruments and can be opened with a minimum deposit of $100. Clients with this account type can trade with spreads starting from 1 pips and a maximum leverage of 1:1000.
The Pro Account grants clients access to trade with over 20 financial instruments and can be opened with a minimum deposit of $500. Clients with this account type can trade with spreads starting from 0 pips and a maximum leverage of 1:1000.
• Trading Platform
MTrading implements the use of the highly-regarded MetaTrader4 (MT4) trading platform by MetaQuotes. MT4 is one of the leading trading platforms in the industry, most notable for its easy-to-use interface, lightning-quick execution time, and flexible customizability. It features real-time market quotes as well as over 80 pre-installed technical indicators, charting tools, and automated trading options, among its other features.
MTrading’s trading platform is available in desktop, browser, and mobile versions.
• Payment Options
Payment options include credit/debit cards, bank wire transfers, and online payment services. Deposits and withdrawals can also be done with cryptocurrency.
Withdrawals are usually processed within the same day, though it could take more if requests are done outside of business hours. Bank transfers usually take two to three business days to process, though some options can take a few seconds.
Most of the details is often subject to change and can be found in MTrading’s official website.
It must be noted that some of the payment options listed above may only apply to specific countries and some service providers may charge fees.
MTrading: Is it safe?
MTrading (also known as ServicesComsvg Ltd) is incorporated under the registration number of 24275 IBC 2017 by the Registrar of International Business Companies. Being located in Saint Vincent and the Grenadines, it is registered under the Financial Services Authority.
However, MTrading is an offshore broker which means that clients do not have the same amount of security over their funds and best interest as compared to a regulated one.
MTrading has claimed to be part of The Financial Commission, which is an international organization that engages in the finding resolutions to disputes in financial markets, especially in Foreign Exchange.
While MTrading does offer a decent selection of financial instruments for each market, the biggest concern for MTrading would be its lack of regulation. MTrading’s website does host a good variety of educational materials, market analysis, and convenient funding options. However, its spreads weren’t exactly competitive when compared to other brokerages of the same caliber. While MTrading does provide its clients with access to the powerful and easy-to-use MT4 trading platforms, the need for additional tools for the platforms could make it a much better trading experience.
In conclusion, MTrading has fairly decent services and offerings making the brokerage an attractive choice. However, its lack of regulations from an industry-leading financial body and any regulation practices can be enough of a reason for safety-focused clients to steer clear from it.