Mt.Cook-Some Important Points about This Broker

Mt.Cook Information

Mt.Cook, a brokerage firm based in South Africa, operates outside the business scope regulated by the FSCA. It offers many market instruments including Forex, Precious Metals, Indices, Energies, and Crypto. Mt.Cook provides demo accounts and high-leverage options up to 1:500. With MetaTrader4, FIX API, and the newly introduced Hybrid PAM, Mt.Cook facilitates trading with a minimum deposit of $500.

Pros and Cons

Is Mt.Cook Legit?

Mt.Cook operates outside the business scope regulated by the South African Financial Sector Conduct Authority (FSCA) and holds a Financial Service Corporate license number: 50420. It is not affiliated with the National Futures Association or the UNFX Non-Forex License.

What Can I Trade on Mt.Cook?

Mt.Cook offers a variety of trading instruments including Forex, Precious Metals, Indices, Energies, and Crypto.

Account Type

Mt.Cook offers two types of accounts: DMA (Direct Market Access) accounts and ECN accounts.

The DMA account requires a minimum deposit of $25,000, and it cannot batch-hedge trades less than 1 standard lot in position size ($100,000 of currency).

ECN Account has three tiers of minimum deposit for $500, $25,000, and $100,000 respectively.

You can check the specific information in the table. Besides, Mt.Cook also provides demo accounts for traders.

Mt.Cook Fees

Mt.Cook charges commissions for its DMA and ECN accounts.

For DMA accounts, the commission is $6.50 per lot, while for ECN accounts, the commission from $7.50 per lot, $6.50 per lot, and $5.50 per lot.

Mt.Cook Leverage

Mt.Cook offers different levels of leverage for its different account types. The DMA account has a maximum leverage of 1:200. ECN accounts offer different leverage options. You can check the details below.

Trading Platform

Deposit and Withdrawal

For Deposits, the minimum deposit amount is $500 USD, with a maximum limit of $1M and an average processing time of near-instant.

For withdrawals, clients can submit requests through the Client Portal after logging in. However, the specific fees are not mentioned.