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MB Group Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-09-24 18:14

Abstract：　　MB Group, founded in January 2024, is a retail financial service provider offering CFD trading on over 250 instruments like forex, indices, commodities, and energies. While it offers low fees, MT4 platform options, and languages support, a major red flag is the lack of verification from any regulatory bodies like ASIC & VSFC, this increase the risk of trading.

MB Group Information

　　MB Group, founded in January 2024, is a retail financial service provider offering CFD trading on over 250 instruments like forex, indices, commodities, and energies. While it offers low fees, MT4 platform options, and languages support, a major red flag is the lack of verification from any regulatory bodies like ASIC & VSFC, this increase the risk of trading.

Pros and Cons

Pros	Cons
Over 250 tradable instruments	Regulation status is “Exceeded”
Provide the minimum spread and commission start from 0.	Only offers email support, with no phone or live chat options.
Provide both MT4 Desktop and a mobile app for convenient trading.	lack of a physical address makes it difficult to verify the legitimacy
High leverage up to 1:500

Is MB Group Legit?

　　MB Group is not regulated by any regulatory authorities. Although they claim to be operated by MB Group Limited and regulated by the Australian Securities and Investments Commission (ASIC) with number 296805 and the Vanuatu Financial Services Commission (VSFC), Company with number 700455, its regulatory information cannot be found on the websites of ASIC and VSFC.

What Can I Trade on MB Group?

　　MB Group is a retail financial service provider that provides over 250 trading instruments to trade from, including CFDs for currency pairs, energies, commodities and indices.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Shares	❌
Energies	✔
Commodities	✔
ETFs	❌
Crypto	❌
Bonds	❌
Futures	❌

Account Type

　　MB Group offers two account types: Standard and ECN. Both accounts provide a secure trading environment with fast execution. They also provide free demo account.

　　The Standard Account is commission-free but has a minimum spread from 1 pips, while the ECN Account offers tighter spreads starting from 0.0 pips but incurs a commission per round trade. Both accounts require a minimum deposit of $200 and have leverage up to 1:500, providing traders with flexibility in their trading strategies.

MB Group Fees

　　The trading fees of MB Group are lower than the industry standard.

　　Trading Fees

　　MB Group offers commission-free Standard Accounts with minimum spreads from 1 pips.

　　ECN Accounts have tighter spreads starting from 0.0 pips but needs a commission per round trade.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for which type of traders
MT4 Desktop version	✔	Access to over 250 trading instruments Ultra-fast executions Support the use of Expert Advisors (EA) Built-in thousands of indicators for market analysis Easy-to-customise charts Simplicity layout to make trade easier	Traders prioritize advanced technical analysis, automated trading, and customization.
MB Group mobile app	✔	View real-time pricing & executi Open & close positions anytime Place buy/sell orders View trading history 9 types of time-frames from a minute to a month Access over 30+ popular technical indicators 24 analytical charting tools	Traders value convenience and on-the-go trading

Deposit and Withdrawal

　　The minimum deposit to start trading with MB Group is $200.

　　Deposit Options

Deposit Options	Min. Deposit	Fees	Processing Time
BANK WIRE TRANSFER	$200	\	Order execution speed <20ms
Credit or debit card	$200	\	Order execution speed <20ms
Cryptocurrency	$200	\	Order execution speed <20ms

　　Withdrawal Options

Withdrawal Options	Min. Withdrawal	Fees	Processing Time
BANK WIRE TRANSFER	$0	\	Order execution speed <20ms
Credit or debit card	$0	\	Order execution speed <20ms
Cryptocurrency	$0	\	Order execution speed <20ms

Customer Service

　　MB Group's customer service options are quite limited. You can only reach them via email, and there's no way to get immediate support. This is a concern for traders.

Contact Options	Details
Phone	None
Email	mggroup@mbgroupfx.cc
Support Ticket System	None
Online Chat	None
Social Media	None
Supported Language	English, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese.
Website Language	English, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, Thai, and Vietnamese.
Physical Address	None
Contact Form	None

The Bottom Line

　　MB Group is a new company that provides more than 250 tradeable tools through a user-friendly platform, with zero starting spreads and commissions. However, unregulated can be an important warning, particularly considering that their customer service is only available via email.

　　Experienced traders who seek diverse trading instruments with low fees will find MB Group appealing, but only after accepting regulatory issues.

FAQs

　　Is MB Group a safe broker?

　　No, MB Group is a relatively new company and is not regulated by any major financial agencies, using it carries some risk.

　　Who is MB Group a good fit for?

　　Due to the lack of regulation and limited customer support, MB Group might not be the best choice for beginners who need more protection and readily available assistance.

　　Is MB Group good for day trading?

　　MB Group isn't the best choice for day trading. They provide limited customer service, and intraday traders usually need immediate help.