Introduction
MTrading is a Forex and CFD broker that offers its services to traders around the globe. The firm has been in operation since 2012 and is a member of the Financial Commission, an international organization that provides a platform for dispute resolution in the online trading industry. While MTrading has some positive features, there are also several concerns that potential clients should be aware of.
Trading Platform
MetaTrader 4
MTrading primarily uses the MetaTrader 4 platform, which is widely recognized for its user-friendly interface, advanced charting capabilities, and extensive range of trading tools. While MetaTrader 4 is a reliable and popular platform, some traders might be disappointed by the lack of other platform options.
Mobile Trading
In addition to its desktop platform, MTrading also offers a mobile trading option. This allows traders to manage their accounts and execute trades from their smartphones or tablets, which can be a convenient feature for those who are constantly on the move.
Account Types
MTrading offers three different account types: M.Cent, M.Standard, and M.Pro. The M.Cent account is designed for beginners, with a minimum deposit of just $1. The M.Standard account requires a minimum deposit of $100, while the M.Pro account, designed for professional traders, requires a minimum deposit of $500.
Customer Support
Customer support is an area where MTrading falls short. While they do offer live chat, email, and phone support, the hours of operation are limited. Furthermore, there have been reports of slow response times and unhelpful customer service representatives. This can be a major drawback for traders who require immediate assistance or have complex issues that need to be resolved.
Regulation and Security
Regulation
MTrading is regulated by the International Financial Services Commission (IFSC) of Belize. While this does provide some level of oversight, the IFSC is not considered a top-tier regulatory body. This may raise concerns about the safety of funds and the integrity of the broker.
Security
In terms of security, MTrading uses standard industry practices such as SSL encryption to protect client data. However, they do not provide much information about their security measures, which may be a concern for some traders.
Conclusion
While MTrading offers a user-friendly trading platform and a variety of account types, there are several areas where it falls short. The customer support is lacking, and the regulation by the IFSC may not provide sufficient protection for traders. Therefore, potential clients should thoroughly research and consider these factors before deciding to trade with MTrading.
