Forex Broker

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Broker ceased to exist

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: 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
Author of MXTrade: Orion | Date 2018-10-23
MXTrade is very disappointing. I don't suggest that you open an account with them. You will only lose your money. Their platform is always acting up-- crashing and lagging. It disconnects when my trade is on the winning side. Then I won't be able to log in for a few minutes and when I come back, my trade is already losing. It happens all the time and on normal market condition. What it seems to me is that they are manipulating their servers to prevent their clients from making profit. I always complain to them about this issue but they always deny that there is a problem. Now from a $150 deposit, my account balance has gone down to $82.
Author of MXTrade: Soshisla | Date 2018-04-12
MXTrade is unprofessional broker. I start with their Standard account 2 months ago since then nothing good happened with them. When I executed a trade upon news announcement, and the market moved 30 pips and a full 5 seconds, before I got filled. Last week I got 17 pips spread on USD/JPY just few minutes later a BOJ meeting minutes report. Money withdraw also big problem, they charged 25$ wire transfer fee for 100$ in last withdraw. So I am planning to switch from this broker.
Author of MXTrade: fxkalap | Date 2018-02-22
I know MXTrade broker from my brother who has been a trader at this broker for more than 1 year and he has felt a huge advantage over the years. This broker provide various kind of platform and good customer support 24 hours. Now I am already trading here for almost 6 months. Overall I think this easy broker and not to bad with low initials investment is huge although the leverage just about 1:400. But in the last few weeks, I feel the benefits they have provided have not increased at all. It's very difficult to produce more money because they do not have a competitive leverage. During trading 6 months, my profit is still about 30% of my capital. Does this make sense? They should increase the quality of trading as well as the percentage of commission given. If it continues like this, over time I will be bored and trying to find another broker. I am not confidence to trade again with MXTrade, I hope they improve it and give more profit. Because there are a lot of broker which gives big profit out there.
Author of MXTrade: ChadKunego ‏ | Date 2017-10-30
Last year I had been trading with MXTrade by depositing of 20k in a GOLD account, which too large for me. I have preferred their low spread of 0.1 but I had so much bad experience with their platform. Always my orders were executed after 1 minutes and I fall 15 to pips requotes. While I had customized an EA on the platform But they blocked my EA. That's why I have lost my some invests of amount $2K. Also after Stoped trading with them, they hanged my withdrawal, which I had invested with them. Now I have been receiving many phone calls a day trying to convince me to resume trading. overall I didn't believe them for a single second yet.
Author of MXTrade: Hututay | Date 2017-10-03
I opened an account in August 2017, with a small amount of money, $30. I traded with them and made profit for about 15% in less than 2 months. I was really glad that it was smooth trading with them, So I finally decided to withdraw half of my profit. I requested a withdrawal but it was disappointing because 2 weeks now but I haven't received my withdrawal.. Getting any of the profits out has been a nightmare. Since then I have made numerous phone calls and they refuse to transfer me to the back office and I have sent numerous emails. It's always the same...give us your bank statement. We apologize for the delay..etc.. Now, I can't reach them by phone because they do not pick up. I can't believe this is happening. Nothing but the same excuse every time! No timeline on when I'm going to get my money! This company's operations are unethical, leaving people uninformed about major changes like why the account login function suddenly just disappeared, how much money is in our accounts, and what bank are they transferring money to. Do not Trade with MXTrade!
Author of MXTrade: henry tuner | Date 2017-09-06
I have been joining mxtrade for 6 month because my previous broker that give me headache using their service. At first this broker give me good trading condition and I just feel like want to continued trading with them but last 3 weeks I have made a request for a withdrawal 500 USD via Skrill but they rejected and ask me to provide document for verification. I do as what they want and then I have to wait for a week for them to verify my document. After that I change amount to withdraw from 500 USD to 1000 USD because within 3 weeks I have made some profit and I have to wait a week for them to approve my request. Spread also not fixed which said 1.5 pip but it actually can reach 3 pips for major pairs. Platform also not good to use which usually I use PC to analyze movement of currency. But because it always stuck during trading session, I have to use smartphone and it’s hard for me to see the charts. After 2 weeks I got my money I made a decision to leave this broker because I do really stress on withdrawal transaction because my only source of money is from forex and I don’t like broker delaying my withdrawal because there is so much commitment that I have to pay every month.
Author of MXTrade: fxrich | Date 2017-07-20
I trade with MXTrade for a couple of months now and I like their services. The support team is helpful and the platform works fast in execution. I opened a live account after I tired their demo account. MY first deposit was made via CashU in amount of 300$. I downloaded the MX Mobile Android platform and started to trade right away. I never had re-quotes . I trade with them currency pairs EUR/USD, GBP/EUR, USD/CHF, USD/JPY and Gold. My monthly profit is 700-800$ and I am pleased with that as long is profit and not lost, is fine. To withdraw money it takes 1-2 working days and is free of hidden commissions. I had some positions closed during one night and a loss of 138$, after I spoke with Client Support they reopened my positions and I had also my money back, so the broker is honest. I recommend them!
Author of MXTrade: Derek | Date 2017-07-03
I opened an account "Regular" with floating spreads minimum lot size 0,01, I funded my account with $150, soon I faced some problems of delay in their platform so I could see their execution is not good at all. Although they have some limitations, that sometimes cannot be a problem, I could see that they don´t offer binary options, that I was willing to trade with, too bad.
Author of MXTrade: TraderMurray | Date 2017-06-13
I have been trading with mxtrade for 5 months already and I have to say they are excellent broker. I never trade news events; I use an end of day strategy. All my orders are filled with a 2 pips spread. Their feed is really good and I have had only 2 disconnect till now. I am able to increase my deposits up to 300%. I also really like their payment system. Until now I already withdraw 3 times through Neteller and all them I got my money within 6 hours. Therefore I give them a 5 star.
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