Score

1.50 /10
Danger

Milano MFX

Suspicious Regulatory License

High potential risk

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Score

Regulatory Index0.00

Business Index6.92

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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Warning: Low score, please stay away! 2
Previous Detection : 2024-11-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Milano MFX · Company summary

General Information & Regulation

Milano MFX is a CFD broker owned and operated by Milano MFX Ltd, an investment company registered in Malta. It should be noted that Milano MFX is not subject to any regulation, so investing with this broker is a risky activity.

Markets Instruments

Milano MFX offers its traders currency pairs, cryptocurrency pairs, commodities, equities and 17 index CFDs.

Minimum Deposit

The Mini account requires a deposit of $500, which is a higher minimum than most other brokerages. Traders need to deposit $5,000 to gain access to the Standard account, where all features are available. The Gold and Platinum accounts require deposits of $10,000 and $35,000, respectively, without contributing any significant advantages.

Leverage

The maximum trading leverage offered by Milano MFX is up to 1:200. Some professional traders may hold that this leverage level is not that generous, yet inexperienced traders are not advised to use too high trading leverage.

Spreads & Commissions

Forex and metals CFDs are commission-free, while energy, cryptocurrencies, equity, and index CFDs carry a fee. The pricing structure lists EUR/USD spread listed at 2.5 pips, much higher than the industry standards.

Inactivity Fees

After 90 days of inactivity, a monthly maintenance fee of 5% applies.

Trading Platform Available

What Milano MFX offers to its traders is not the MT4 or MT5 trading platform, and it is a web-based trading platform.

Deposit& Withdrawal

Milano MFX neither provides a list of accepted deposit and withdrawal methods nor does it maintain a dedicated section on its website, which is highly unusual. Nevertheless, they do provide a list of logos indicating what systems they use, including credit/debit cards, Skrill, Neteller, OrangePay, and MNP.

Customer Support

The Milano MFX customer Support is available 24/5, and traders may either call directly, send an e-mail, or use the webform.

User Reviews

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Napruet Nonist Komutanont
more than one year
I'm happy with the services they provide for me at Milano MFX. The trading site is simple to use, and I can always get help from their customer service. Their trading platform is also quite easy and clear to understand. I recommend Milano MFX to traders who are looking for low fees, easy withdrawals and fast exchange.
I'm happy with the services they provide for me at Milano MFX. The trading site is simple to use, and I can always get help from their customer service. Their trading platform is also quite easy and clear to understand. I recommend Milano MFX to traders who are looking for low fees, easy withdrawals and fast exchange.
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2023-03-21 18:44
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你一笑生花
more than one year
I've been using Milano MFX for about a month and things have been pretty smooth. Online support staffs are helpful and prompt. The platform has all the things I need to trade with.
I've been using Milano MFX for about a month and things have been pretty smooth. Online support staffs are helpful and prompt. The platform has all the things I need to trade with.
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2022-12-07 11:57
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