MetFX-Overview of Minimum Deposit, Spreads & Leverage

General Information

MetFX is allegedly a broker based in Saint Vincent and the Grenadines that provides its clients with a powerful MetaTrader5 trading platform, leverage up to 1:100, variable spreads on various tradable assets, as well as a choice of three different account types.

Market Instruments

MetFX advertises that it mainly offers five different classes of trading instruments in financial markets, including forex, commodities, cryptocurrencies, shares and indices.

Account Types

There are three trading accounts offered by MetFX, namely Standard, Islamic and ECN. Opening a Standard account requires the minimum initial deposit amount of $50, while the other two account types with the higher minimum initial capital requirements of $100 and $200 respectively.

Leverage

The maximum leverage ratio provided by MetFX is up to 1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what type of accounts traders are holding. MetFX reveals that the spreads in the Standard account start from 0.8pips with a commission of $6, the clients on the Islamic account enjoy spreads from 1.6 pips with a commission of $8, while the ECN account with spreads from 0.0 pips and a commission of $4.

Trading Platform Available

When it comes to trading platforms available,MetFX gives traders the worlds most widely-used MetaTrader5 platform. MT5 is known as one of the most successful, efficient, and competent forex trading software, featuring an array of technical analysis indicators, trading signals, financial calendar and more.

Deposit & Withdrawal

MetFX accepts deposits and withdrawals via Bank Wire, Credit/Debit Cards, Sticpay, cryptocurrencies of Bitcoin, Ethereum, and others. As for the processing time of withdrawal requests, it usually takes up to 5 business days to process.

Fees

MetFX also takes some fees. For instance, the broker will charge an inactivity fee of $30 monthly. Also, according to the information displayed on the Terms and Conditions document, it seems that it requires clients to agree not to issue chargebacks for any credit card payments and if they do so it will result in an additional charge of $250.

Customer Support

MetFXs customer support can be reached by telephone: +442032895271, email: support@metfx.com. Besides, you can also follow this broker on some social media platforms like Facebook. Company address: Griffith Corporate Centre, Beachmont, 1510, Kingstown, St. Vincent and the Grenadines.