What’s MahiFX?
Is the broker secure?
The broker is regulated and authorized in New Zealand, the United Kingdom, and Australia. MahiFX has three licenses: FCA (The Financial Conduct Authority – UK), ASIC (The Australian Securities and Investments Commission) and FMA (The Financial Markets Authority – NZ).
Although every regulator requires different rules to be followed, all of them focus on the safety of client funds and the continuous monitoring of the broker’s efficiency and compliance. All services conducted by MahiFX offer transparency, security measures, client support, and compensation in the event of insolvency.
Thus, when investing with MahiFX, you can be sure that the broker conducts their business legally, and can be relied on due to the security offered by their regulators.
Trading Platforms
An additional benefit is the specific combo of simple algorithms with a strong engine and its incredibly versatile platform. MahiFX built its own full MFXVector command center that lets you trade by choosing passive or active strategies.
MahiFX offers Dynamic time and great Limit Orders. In addition to that, you can utilize the same revolutionary Tier 1 tech that banks use. This allows you to decide the level of aggression, the volume executed, and other versatility at the time of order completion.
All this has improved by adding the combination of MFXEcho and MFXCompass, which allow traders to benefit greatly from efficient analytics and risk management. MahiFX offers the popular MT4 platform for trading, which is loved by traders everywhere.
Accounts
MahiFX offers a single trading account for retailers, regardless of trading experience or how much the trader deposits. MahiFX does not charge commission and the broker makes all of its money through its spreads.
Fees
The broker doesn’t charge a commission, although all fees are built into a tight spread. The variable spread has an average of 1 pip for the EUR/USD pair, it is seen as a competitive spread.
You can compare MahiFX fees to another common broker – XTB.
Rollover
Bear in mind that MahiFX has rollover or overnight fees for positions kept open for more than one day. Every instrument has a different quotation for overnight positions, which can work for you as a refund or charge.
Leverage
The broker allows you to expand your trading size via leverage, which can heighten potential profits but also increase risk.
Leverage rates are established by the financial instrument you choose to trade and the regulatory constraints in various countries. Therefore, if you’re trading with New Zealand, MahiFX will allow you to use a maximum leverage ratio of up to 1:100, whereas trading with the FCA branch of MahiFX will significantly reduce the leverage. The maximum leverage that you can use as a retail trader in Europe or the United Kingdom trader is 1:30 for major currencies, 1:20 for minor currencies, and 1:10 for commodities.
Traders must be cautious when using leverage because it can also heighten the possibility of losses.
Funding Methods
MahiFX, like the majority of brokers, provides a fast and safe way to finance a live trading account, including credit/debit cards and transfers via bank wire.
Minimum Deposit
There is no minimum deposit; you only need $1 to start trading. There are however some transactional costs depending on what instrument you use.
Withdrawals
Withdrawals must be done using the same payment method as you used for depositing. MahiFX does not charge withdrawal fees, but it’s a good thought to consult with the customer support team to check if the payment processor charges any fees themselves.
Conclusion
MahiFX is a reputable broker that is supervised by the world’s top regulators. As far as trading is concerned, MahiFX offers some solutions that are not available through other brokers and can very much simplify your trading.
