Do you want to trade on MFCapitalFX? Before you do that, kindly read to know about this broker mfcapitalfx.com.
This article promises to share helpful review to support clients/traders in making the right decision.
MFCapitalFX is an offshore brokerage company with a lot of promises for traders. The broker does not provide any contact address on its website. More so, the broker offers different account comparisons like BRONZE, SILVER, GOLD AND PLATINUM.
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
To clarify, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
Deposit and Withdrawal
MFCapitalFX Minimum Deposit:
MFCapitalFX minimum deposit is indicated at $1000 based on the account comparison. The good thing about a genuine FX broker is that Minimum deposit is made known to traders, and clients can start trading as low as $100
As for the payment methods, the broker appears to accept options like Visa, Mastercard, Maestro, Bank transfer and others. Rightfully, you should not consider making any payment with this broker because it is a risk.
Most importantly, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
MFCapitalFX minimum withdrawal amount for bank wire is $ 100 while other payment methods are indicated $ 50. As for the withdrawal process, it takes 3-4 business days on any withdrawal request.
Also, traders are charged $30 withdrawal fee if the service fee of 3.5% amounts up to $30 or less.
MFCapitalFX platform offers web based trading platform and MT4 (Industry standard trading platform). The presence of MT4 doesn’t make the broker legit because any scam broker can do the same to lure forex traders. However, the broker is already a red flag for traders.
MFCapitalFX leverage can get up to 1:400. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why MFCapitalFX.com Is A Suspicious Broker
First of, MFCapitalFX.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities. Here, Germany’s financial regulator, BaFin has issued a warning against this false broker. See the warning down below:
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
MFCapitalFX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
MFCapitalFX located at MFCapitalFX.com claims to be a genuine trading broker, but that cannot be ascertained. From all indications, we would advise traders to steer clear from this FX broker as it likely a platform run by scammers. Therefore, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on December 8, 2022 by Danny