Mekness

General Information & Regulation

Mekness, a trading name of Mekness LLC, is allegedly a forex broker incorporated in Saint Vincent and the Grenadines with company number 524 LLC 2020 that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and variable spreads from 0.3 pips on the MT5 for Android, iOS and Windows trading platforms, as well as a choice of four different live account types and 24/5 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that Mekness 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 1.34/10. Please be aware of the risk.

Market Instruments

Mekness advertises that it mainly offers forex, commodities and index trading.

Account Types

Mekness claims to offer four types of trading accounts, namely Standard, Universal, Pro and VIP. The minimum initial deposit amount to open any type of account is only $10.

Leverage

A leverage ratio of up to 1:500 is offered by Mekness, which is much higher than that provided by most brokers. 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

Mekness claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard account starts from 1.8 pips, the Universal and Pro accounts have spread from 1.1 pips and 0.6 pips separately, while only the VIP account holders can enjoy the tightest spreads from 0.3 pips. As for commissions, there is no commission on the Standard account, while the other three account types have a commission of $7, $6 and $5 per lot respectively.

Trading Platform Available

Platforms available for trading at Mekness are Mekness MT5 for Android, iOS and Windows. 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

Mekness says to work with multiple deposit and withdrawal options, consisting of Bank Wire, Bitcoin, MasterCard, Neteller, Perfect Money, Skrill and Visa. The minimum initial deposit requirement is said to be only $10, while the minimum withdrawal amount is $50 else $10 will be charged as a withdrawal processing fee. However, if a withdrawal is requested before commencing 3.0 - 1 K, 15% withdrawal fees are applied. There are no deposit fees charged.

As for the processing time of deposit and withdrawal requests, Bank Wire deposits and withdrawals take up to 3-5 working days, Bitcoin deposits require up to 3 hours, while other deposits are said to be processed instantly and other withdrawals require up to 24 hours.

Customer Support

Mekness customer support can be reached by telephone: +1 631 892 6178, +1 631 892 6179, email: info@mekness.com. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and WhatsApp. Company address: First Floor, First St. Vincent Bank Ltd. Building, James Street, Kingstown, VC0100 St. Vincent and 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.