Abstract:MFM Securities is a Vanuatu based forex and CFD broker that was formed recently MFM Securities offers Contracts for Difference (CFDs) on 5 asset classes: Stocks, Indices, Forex and Commodities. They also allow for trade in over 100 of the worlds top large-cap stock CFDs. MFM Securities Forex Broker is an online platform that claims to be an international broker company, offering financial services to traders from all around the world. They are serving institutional and retail clients worldwide.MFM Securities was regulated by the Vanuatu Financial Services Commission (VFSC) at Vanuatu with the regulatory license number of 700451.
BASIC INFORMATION:
MFM Securities is a Vanuatu based forex and CFD broker that was formed recently MFM Securities offers Contracts for Difference (CFDs) on 5 asset classes: Stocks, Indices, Forex and Commodities. They also allow for trade in over 100 of the worlds top large-cap stock CFDs. MFM Securities Forex Broker is an online platform that claims to be an international broker company, offering financial services to traders from all around the world. They are serving institutional and retail clients worldwide.MFM Securities was regulated by the Vanuatu Financial Services Commission (VFSC) at Vanuatu with the regulatory license number of 700451.
MFM SECURITIES PROS AND CONS
Pros
· Various trading platforms available
· Very low minimum deposit
· Excellent selection of assets
Cons
· Tier-2 regulation commissions
· Higher than average commissions
ACCOUNT TYPES
MFM Securities provides four different types of accounts: Micro, Standard, ECN, and Prime. These account types are pretty similar, with the difference being the minimum deposit requirements, the leverage available, and the spreads/commissions.
Here are the account types at MFM Securities and their features:
Micro
· Minimum Deposit – $15
· Floating spreads as low as 1.8 pips (EUR/USD)
· Maximum leverage 1:1000
· No Commissions
· Assets included: FX and Commodities
· Trading Central included (Market Buzz, Analyst Views, Featured Ideas, Economic Insight, Daily Market Analysis and Web TV)
Standard
· Minimum Deposit – $25
· Floating spreads as low as 1.8 pips (EUR/USD)
· Maximum leverage 1:500
· No Commissions, except for shares ($10/lot round trip)
· Assets included: FX, Commodities, Shares
· Trading Central included (Market Buzz, Analyst Views, Featured Ideas, Economic Insight, Daily Market Analysis and Web TV)
ECN
· Minimum Deposit – $100
· Floating spreads as low as 0.0 pips (EUR/USD)
· Maximum leverage 1:500
· $10/lot round trip commissions on all assets
· Assets included: FX, Commodities, Shares
· Trading Central included (Market Buzz, Analyst Views, Featured Ideas, Economic Insight, Daily Market Analysis and Web TV)
Prime
· Minimum Deposit – $100
· Floating spreads as low as 0.4 pips (EUR/USD)
· Maximum leverage 1:500
· No Commissions, except for shares ($10/lot round trip)
· Assets included: FX, Commodities, Shares
· Trading Central included (Market Buzz, Analyst Views, Featured Ideas, Economic Insight, Daily Market Analysis and Web TV)
Clients can also take advantage of a demo account to test the platform, and Muslim traders are able to access an Islamic account which is swap-free.
Minimum Deposit
The minimum deposit requirements also differ, depending on which type of account you decide to use. For micro, it is 15$, while prime and standard offer 100 and 25 USD relatively.
Leverage
MFM Securities says that it has leverage up to 1:500
Spreads
The spreads are different for each type of account. For example, the Standard account offers spreads from 1.8 pips on EUR/USD, which is high compared to the industrys average and not attractive in general. Competitive pricing gives brokers the ability to have an advantage over others and attract more customers to their platform, however, it seems like MFM Securities decided to not put much effort into this.
Trading Platforms
MFM Securities gives clients two options for their trading platform. The first is the well-known MetaTrader 4 platform, used by more than 10 million traders worldwide. And the other is the equally well-known MetaTrader 5 platform, which is the latest version in the MetaTrader family of trading platforms.
MetaTrader 4 (MT4)
The MT4 platform offers forex traders the most powerful charting platform on the market. Widely accepted as the industry benchmark in retail forex trading platforms, MT4 is by far the most popular platform for charting out there today.
MetaTrader 5 (MT5)
MetaTrader 5 is an institutional multi-asset platform offering outstanding trading possibilities and technical analysis tools, as well as enabling the use of automated trading systems (trading robots) and copy trading. MetaTrader 5 is an all-in-one platform for trading Forex, Stocks and Futures.
Available Assets
MFM Securities gives its clients access to a portfolio of over 300 different assets across 5 asset classes. The broker offers stocks, indices, forex, and commodities.
· 42 indices, including major equity indices, leveraged gold and oil indices, the VIX, and more.
· Over 200 of the most popular global stocks
· 12 Commodities including crude oil, gold, and silver
· A dozen different global indices
· Trade on over 80 forex pairs, including major, minors, and exotics
Customer Service
MFM Securities has a multilingual customer support team thats available from 9 am – 9 pm (GMT+3), Monday to Friday through live chat, email and telephone.
Email: support@mfmsecurities.com
Telephone: +44 13161 888 32