MFM Securities

General Information & Regulation

MFM Securities, a trading name of MFM Securities (Pacific) Limited, is allegedly a forex and CFD broker incorporated under the laws of St. Vincent and the Grenadines (Registration No. 25263 BC 2019) that claims to serve retail and institutional clients with over 100 tradable financial instruments with flexible leverage up to 1:1000 and variable spreads on the leading MetaTrader4 and MetaTrader5 trading platforms, as well as a choice of four different live account types and 24/7 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that MFM Securities does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.18/10. Please be aware of the risk.

Market Instruments

MFM Securities advertises that it offers access to more than 100 trading instruments in financial markets, including CFDs on 7 asset classes: stocks, indices, forex, commodities, cryptocurrencies, bonds and ETFs.

Account Types

Apart from demo accounts, MFM Securities claims to offer four types of trading accounts, namely Standard, Prime, ECN and Micro. The minimum initial deposit amount is $15 for the Standard account, while the other three account types have higher minimum initial capital requirements of $25, $100 and $100 respectively.

Leverage

The leverage provided by MFM Securities is capped at 1:1000. More details can be found in the below screenshots. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

MFM Securities claims that different account types can enjoy quite different spreads and commissions. Specifically, clients on the Standard, Prime and ECN accounts have no commission and tight spreads, while the Micro account holders have a minimum $5 commission and raw spreads. On another part of the brokers website, we found the spread on the Prime account starts from 0.4 pips.

Trading Platform Available

Platforms available for trading at MFM Securities are the industry-standard MetaTrader4 and MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

MFM Securities says to accept deposits via credit/debit cards, online banking, cryptocurrency and Wire Transfer, and withdrawals with online banking and cryptocurrency. The minimum initial deposit requirement is said to be $100 for Wire Transfer, while $25 for deposit methods. The minimum withdrawal amount is $13.

The broker also charges deposit fees, 1.5% and minimum €0.4 for cryptocurrency deposits, while other deposits are free. As for the processing time of deposit and withdrawal requests, all deposits are said to be processed within 10 minutes, while free for online banking withdrawals and 1.5% for cryptocurrency withdrawals.

Bonuses

MFM Securities claims to offer a 35%+25% deposit bonus and a $30 welcome bonus on the Prime account. The maximum bonus is up to $5,000.

In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Customer Support

MFM Securities customer support can be reached by telephone: +44 13161 888 32, email: support@mfmsecurities.com or live chat. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Registered address: Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and The Grenadines.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.