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Broker ceased to exist

MXTrade


On-line since: 2014
Country of origin: Belize
Regulation: IFSC
Payment options: VISA, MasterCard, wire transfer, Skrill, CashU, Neteller, UnionPay
Minimum account size: $250
Minimum lot size: 0.01 lot
Leverage: 1:400
Spreads: from 1.5 pips

About the company:

MXTrade is a brand owned and operated by Lau Global Services Corporation. MXTrade offers financial services on online trading in currency, stock, and commodity markets. Moreover, the broker provides services to retail and institutional clients in more than 140 countries all over the world.

The company is licensed and regulated by the International Financial Services Commission of Belize. MXTrade provides its clients with a wide range of trading instruments including currencies, metals, CFDs on gold and silver as well as indices, futures, and stocks. Trading can be performed via the MetaTrader4 trading platform.

The company’s clients can open live accounts, demo accounts, or Islamic accounts with no rollover charges.

According to traders’ feedback, the main advantages of the broker include low competitive spreads, qualitative NDD execution, wide array of trading instruments (over 250) as well as social trading and absence of additional commissions.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author of MXTrade: Magdalena | Date 2020-07-16
It's been almost 3 months trading with them, but there has been no progress. Even I have experienced defeat that is not clear why. A few days ago I lost my money around $590. I will withdraw all my money from this broker who are not responsible at all. And won't come back to this broker again.
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Author of MXTrade: Terru | Date 2020-05-13
I opened an account at MXTrade and deposited $250, their minimum deposit amount. I first opened a demo account before starting a live account to see how the broker works. The platform in the demo account worked perfectly which made me decide to push through. However, when I started a real account, the platform was very different. It did not run as smoothly anymore and it often crashed. At this rate, I wouldn't be able to earn at all.
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Author of MXTrade: Lucas | Date 2020-04-13
There have been two weird things in my trading. And the amount has reached $1520, in just 3 weeks. I have stopped trading with them and will not return. I send an email to their support, but the support did not reply my e-mails and after a long time I got my account was empty. I call the technical support but they are unable to tell me the reason. To be honest, they are the first broker that I trust to trade my money. I hope MX Trade will improve their service.
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Author of MXTrade: Hazren | Date 2020-02-20
My experience at MXTrade was not pleasant. For one, their platform often crashed. I had some open positions before that were closed at a losing position because of the problems in the platform. I end up losing a huge amount because of that. When I closed my account, I had a small balance remaining in my account. Thankfully, the broker still released my money.
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Author of MXTrade: Nisa | Date 2020-01-08
Traded with Mx Trade a while back and witnessed several problems with this broker. I opened a live account deposited Bank wire with $2500 through and they credited only $1560. When I tried to chat online support they told me that $140 is a transfer fee but they did not mention it their web site. I also fund terrible trading conditions. Last week I saw the USD/JPY go to 35 pips spike. Apart from successful trade cancellation, they tweak their platform, their fixed spread is not fixed as they appear. They increase it without you knowing. I never made any withdrawals, so I don't have any info on that.
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Author of MXTrade: Paula Claire | Date 2019-10-03
You cannot withdraw because I made a deposit of $1500 through credit card and wanted to withdraw just $75 but I cannot withdraw it, they hold my account. Bad execution of trades. Trading platform is not stable and there is too much volatility in trading sessions. I was waited them so long to withdrawl profit. Finally, I lost my money $1000. So I closed my account, and looking for another broker.
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Author of MXTrade: Pzons | Date 2019-08-27
I opened an account with MXTrade based on contracts specification on their website. During the last UK GDP news time the spread went from 3 pips to 24 in seconds. Beside this, their trading platform make false spike, move 5 times 60-70 pips each time when other brokers moved only 20 pips. I have screenshots of all these events. Traders beware.
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Author of MXTrade: Kasery | Date 2019-07-09
I've read a lot of sad stories of former traders at MXTrade. The problem was the same among those that I've read: the broker did not release their funds, not even a single cent. With the meticulous details that they provided, I couldn't help but believe them. I made sure to stay away from this broker but a friend of mine opened an account without telling me. She deposited a hundred dollars. When I told her about the negative feedback, she tried to withdraw her funds but the company won't let her. In the end, her account was terminated but the money wasn't returned.
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Author of MXTrade: Hoceq | Date 2019-03-31
I have been facing server disconnection problem with MXTrade since last months. 18 days ago, I put a withdraw request of $300 via UnionPay but they did not process it yet. When I asked their support about the delay, they inform me that they are investigating my account. I think now they are trying to stolen my money. If they do this, I will make a case against them.
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Author of MXTrade: Goerad | Date 2019-01-03
My experience with MXTrade indicates that their behavior is unethical. Last Monday, I execute buy order on AUD/USD pair. Next day when I login into my platform, I have seen that there was 6 buy trades in my account without my any permission and all of them was making loss and I lost total $214. Immediately I contact with their live support and they deny my accusation and kick me out from live chat. They are scammers and untrusted
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