Thinking of getting into business with MFX partner? Here is what you must know about this broker. Carefully read this review to find out if mfxpartner.com is the trading platform you will want to trade with.
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About MFX partner Brokers
MFX partner is an offshore brokerage company with a lot of promises for traders. The broker’s location is hidden from the public. It is as good as saying that this broker has no address.
Added, the broker claims to offer exclusive promotions, multilingual support, and superior trading conditions.
To clarify, in spite the trading instruments MFX partner claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
mfxpartner.com: Reasons to Avoid This Broker
Firstly, mfxpartner.com is a platform with no financial authority overseeing its financial services. Thus, it means the broker does not care about license and regulation.
Secondly, we noticed mfxpartner.com has no demo account for traders. Since traders can’t test MFX Partner on a free account, we can’t know its viability in the forex market.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Lastly, the importance of legal documents cannot be under emphasized especially when doing due diligence. Truly, we could not assess the broker’s legal documents as we found it missing on the webpage.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, MFX Partner leaves us with no information on what fees forex traders will be charged on any withdrawal nor processing days on each withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
The broker mentioned nothing on its minimum deposit.
As for the payment methods, broker mentioned Bitcoin, Perfect Money and X2. But, you should not consider making any payment with this broker because it is a risk. So beware!
MFX Partner Platform
MFX Partner offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker mentioned nothing. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
MFX Partner Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
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BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is mfxpartner.com a Reliable Broker?
No, mfxpartner.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
