MplusFX-Overview of Minimum Deposit, Spreads & Leverage

What is MPLUSFX？

MPLUSFX is a trading brokerage company that is registered under Mplus Global Limited, with its company address in Phnom Penh, Cambodia. However, its registered country or region is Vanuatu. It claims to have been regulated by the Vanuatu Financial Services Commission (VFSC), however, this regulatory status has been revoked.

Pros & Cons

Pros:

• MT4 Offered: MPLUSFX offers Meta Trader 4, a well-regarded trading platform.

• Low Minimum Deposit: It allows for a low initial deposit, which could be advantageous for those starting small.

• Various Market Instruments: MPLUSFX provides a range of market instruments for diverse trading options.

• Double Bonus: Customers are offered double bonuses, enhancing their trading capital.

Cons:

• Revoked Regulatory License: MPLUSFX's regulatory license has been revoked, which can raise concerns over its credibility and trustworthiness.

Is MPLUSFX Safe or Scam？

• Regulatory Sight: MPLUSFX is a trading platform that is regulated by the Vanuatu Financial Services Commission under a Retail Forex License. However, the current status of MPLUSFX's license is revoked. The specific license number was not released to the public.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures: MPLUSFX asserts that they prioritize security for every account and transaction on their platform. Moreover, in the case of any discrepancies or disputes arising from errors, MPLUSFX would have a process in place to investigate and resolve the issues.

Market Instruments

MPLUSFX provides its clients with a variety of market instruments allowing for diverse investment opportunities. For Forex trading, it offers 43 currency pairs which include not only major and minor pairs but also some exotic currencies like the Norwegian Krone, Czech Krona, Danish Krone, Chinese Yuan, Hong Kong Dollar, and Thai Baht. By offering such a broad range of Forex pairs, MPLUSFX caters to a global client base each with their unique trading interests.

In addition to Forex trading, MPLUSFX also provides the opportunity to trade Contracts for Difference (CFDs) on various instruments. These include precious metals such as silver and gold which are often viewed as safe-haven assets in times of market turbulence. CFDs on indices are also available, allowing traders to speculate on the price movements of entire stock market indexes instead of individual stocks. They also include oil trading, a popular choice among commodity traders. Thus, MPLUSFX's wide range of market instruments ensures that traders of different preferences and strategies can find suitable options to trade.

Bonus & Promotion

Self-Trade: This promotion can help traders generate extra income by trading more. Rebates up to 15 per lot are offered, starting from a 5 rebate. The more trades, the higher the rebate. The spread value starts at 1.5 pips and the maximum leverage provided is 1:500. This offer applies to all currency pairs and metals.

Double Bonus: For the first deposit, customers will receive a 30% credit, up to a maximum amount of $1000. For the second deposit, it's a 10% credit with a maximum amount of $1000. Notably, profits derived from these credits can be withdrawn. However, when withdrawing credit, the remaining credit balance will be cleared.

Account Types

The trading platform offers four types of accounts: Cent, ECN, Copy Trade, and STD. Each account provides distinct features including variable levels of leverage, commission fees, and spreads, catering to different users from beginners to experts. Additionally, the platform encourages deposits by offering a 30% bonus up to $1000 across all account types.

Leverage

MPLUSFX provides different leverage options depending on the account type:

Cent Account: This account offers a leverage range between 1:100 and 1:500, suitable for beginners to moderate traders.

ECN, Copy Trade, and STD Accounts: These accounts are designed for more experienced traders, with a leverage of either 1:100 or 1:200.

Spreads & Commissions

MPLUSFX provides four account types, each with unique spreads and commissions.The Cent, the Copy Trade, and STD accounts offer no commission and spreads from 1.5 pips. The ECN Account, for experts, has a commission of $6.53 per lot and spreads from 0 pips.

Trading Platform

MPLUSFX offers the globally renowned MetaTrader 4 (MT4) platform for its users. MT4 is a cutting-edge software used for placing orders on various financial markets, including currency and CFD products. Provided by the Metaquote Software Company, it's recognized as one of the leading trading platforms worldwide. To ensure accessibility and flexibility, MPLUSFX offers MT4 on multiple platforms. This includes a downloadable version for Windows and Mac computers, alongside mobile apps for iOS and Android devices, allowing clients to trade virtually anywhere, anytime.

Trading Time

At MPLUSFX, the trading platform is accessible for customers to make withdrawal requests 24 hours a day, 7 days a week. However, the confirmation and processing of these withdrawal requests by staff occurs only during their business hours, which are from 9:00 a.m. to 8:00 p.m., Monday to Friday. Moreover, currency pairs are tradable at any time from Monday to Friday, while the Forex market is closed on Saturdays and Sundays.

Deposits & Withdrawals

The minimum deposit of MPLUSFX is $10. MPLUSFX offers several, locally convenient methods for depositing funds into a trading account: ChillPay, DefinnPay, 1-2Pay, USDT(Bep20), USDT(Trc20), and UTCToken. While various deposit options are available, their staff specifically recommends using E-Currency through the Scan QR Code method which accommodates all banks. A step-by-step guide for depositing money using a QR code is available.

Conclusion

MPLUSFX is a trading brokerage firm, offering a broad range of accounts, market instruments, and trading opportunities to cater to various types of traders. It features the recognized MT4 platform, accessible across multiple devices enhancing user experience. However, potential users should take into account the firm's revocation of regulatory license, to ensure a comprehensive understanding of its legitimacy and risk factors.

Frequently Asked Questions (FAQs)

Q: Is MPLUSFX regulated？

A: MPLUSFX claims to have been regulated by the Vanuatu Financial Services Commission (VFSC), however, this regulatory status has been revoked.

Q: Is a demo account available on MPLUSFX？

A: We can not find any available information about demo accounts for MPLUSFX.

Q: Is MPLUSFX a good choice for beginners？

A: Yes, due to its low minimum deposit and the special bonus for new customers, beginner users can find it very attractive and friendly.

Q: What deposit methods are available at MPLUSFX？

A: MPLUSFX offers several methods for depositing funds: ChillPay, DefinnPay, 1-2Pay, USDT(Bep20), USDT(Trc20), and UTCToken. They recommend using E-Currency through the Scan QR Code method.

Risk Warning

Online trading involves significant 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 provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.