MTrading Editor’s Verdict
MTrading serves than 250,000 traders and 5,000 partners from 10+ offices globally since 2012. Focused on PAMM accounts and copy trading via mobile phones, MTrading promises industry-best trading conditions from its M.PRO account. Traders also get the MT4 Supreme Edition. I reviewed this broker to evaluate if MTrading on its pledge of integrity, innovation, trust, and reliability as a simple and easy Forex broker. Should you manage one of your portfolios at MTrading?
Overview
A broker with PAMM accounts and copy trading for mobile traders
Headquarters | Belize |
|---|---|
Regulators | EFSA, FSC Belize |
Tier 1 Regulator(s)? | |
Owned by Public Company? | |
Year Established | 2013 |
Execution Type(s) | Market Maker |
Minimum Deposit | $1 |
Trading Platform(s) | Other, MetaTrader 4, Web-based |
Average Trading Cost EUR/USD | 2.0 pips ($20.00) |
Average Trading Cost GBP/USD | 2.7 pips ($27.00) |
Average Trading Cost WTI Crude Oil | $0.15 |
Average Trading Cost Gold | $0.35 |
Average Trading Cost Bitcoin | $400.00 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
Besides PAMM accounts and copy trading, MTrading provides trading signals and educational tools for beginner traders. Given its high leverage and low commission-based trading account with raw spreads from 0.0 pips, MTrading is also ideal for algorithmic traders and scalpers.
MTrading Main Features
Retail Loss Rate | Undisclosed |
|---|---|
Regulation | No |
Minimum Raw Spreads | 0.0 pips |
Minimum Standard Spreads | 0.1 pips |
Minimum Commission for Forex | $4.00 |
Commission for CFDs/DMA | $4.00 |
Commission Rebates | Yes |
Minimum Deposit | $100 |
Demo Account | Yes |
Managed Account | Yes |
Islamic Account | Yes |
Inactivity Fee | $50 monthly after twelve months |
Deposit Fee | No |
Withdrawal Fee | Yes + Third-party |
Funding Methods | 30+ |
Regulation and Security
Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. MTrading is an unregulated broker but a member of the Hong Kong-based Financial Commission. This results in a broker with oversight and an investor compensation fund from a trusted source.
MTrading operates out of St. Vincent and the Grenadines, where the financial regulator, the Financial Services Authority, does not regulate Forex brokers, as stated on their website.
Despite the lack of regulation, St. Vincent and the Grenadines remains a primary location for offshore brokers, as it offers a business-friendly environment. Genuine brokers register as an international business company (IBC) in St. Vincent and the Grenadines and are permitted to operates as Forex brokers.
Countering the absence of regulation, trustworthy brokers become members of the Hong Kong-based Financial Commission. MTrading is a compliant member, segregates client deposits from corporate funds, and offers negative balance protection. It is an independent self-regulatory organization and external dispute resolution (EDR) body and has become more trusted than most regulators. It also maintains a compensation fund with coverage of up to €20,000 per claim. Members pay annual fees and submit financial results which the Financial Commission audits. It operates like a regulator but allows brokers to remain competitive in their offerings and flexible with their trading conditions.
Since MTrading is a member, has nearly a decade of operating history, and has a flawless record, traders can trust MTrading and its trading environment.
Fees
Average Trading Cost EUR/USD | 2.0 pips ($20.00) |
|---|---|
Average Trading Cost GBP/USD | 2.7 pips ($27.00) |
Average Trading Cost WTI Crude Oil | $0.15 |
Average Trading Cost Gold | $0.35 |
Average Trading Cost Bitcoin | $400.00 |
The commission-free MTrading trading account lists an average minimum spread of 1.2 pips for the EUR/USD or $12.00 per round lot, putting it in the higher range within competitive trading fee offers. The commission-based alternative offers Forex traders an average mark-up of 0.2 pips for a commission of $4.00 or a total fee of $6.00, ranking as a competitive offer. Equity CFDs and commodities also cost $4.00 per round trade.
The minimum and average trading costs for the EUR/USD in the commission-free MTrading Premium account:
Minimum Spread | Commission per Round Lot | Cost per 1.0 Standard Lot |
|---|---|---|
0.1 pips (minimum) | $0.00 | $1.00 |
1.2 pips (average) | $0.00 | $12.00 |
The minimum and average trading costs for the EUR/USD in the commission based MTrading Pro account:
Minimum Spread | Commission per Round Lot | Cost per 1.0 Standard Lot |
|---|---|---|
0.0 pips (minimum) | $4.00 | $4.00 |
0.2 pips (average) | $4.00 | $6.00 |
Here is a screenshot of the MTrading MT4 platform during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.
 (1).jpg "MTrading MT4 Trading Platform")
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
MT4 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based MTrading Pro account.
Taking a 1 standard lot buy/sell position, in the EUR/USD at the average spread and holding it for one night will cost the following:
Minimum Spread | Commission per Round Lot | Swap Long | Swap Short | Total Trading Costs |
|---|---|---|---|---|
0.2 pips | $4.00 | -$6.75 | X | $12.75 |
0.2 pips | $4.00 | X | -$0.70 | $6.70 |
Taking a 1 standard lot buy/sell position, in the EUR/USD at the average spread and holding it for seven nights will cost the following:
Minimum Spread | Commission per Round Lot | Swap Long | Swap Short | Total Trading Costs |
|---|---|---|---|---|
0.2 pips | $4.00 | -$47.25 | X | $53.25 |
0.2 pips | $4.00 | X | -$4.90 | $10.90 |
I like the commission-based pricing environment for scalpers and other high-frequency traders who do not keep overnight positions. The swap rates (overnight financing fees) at MTrading are average, and a monthly inactivity fee of $50 applies after twelve months of dormancy.
What Can I Trade?
MTrading offers traders a choice of 38 currency pairs, 7 commodities, 10 index CFDs, and 67 equity CFDs. The asset selection is limited, making MTrading a candidate for traders with a focused strategy that requires few assets. Since MTrading focuses on the most liquid trading instruments, scalpers will benefit the most from the asset selection at MTrading.
Asset List and Leverage Overview
Commodities | |
|---|---|
Crude Oil | |
Gold | |
Metals | |
Equity Indices | |
Stocks | |
Stocks (non-CFDs) | |
ETFs | |
Futures | |
Synthetics |
MTrading Leverage
Retail traders get maximum leverage of 1:1000, but it decreases with position size, which I find an excellent offer. Negative balance protection exists, and I always recommend leveraged traders to ensure their broker offers it. Traders should also check the contract specifications, as a minimum margin applies.
MTrading Trading Hours (GMT +2 Server Time)
Asset Class | From | To |
|---|---|---|
Forex | Monday 00:05 | Friday 23:59 |
Commodities | Monday 01:00 | Friday 23:59 |
European CFDs | Monday 09:00 | Friday 17:30 |
US CFDs | Monday 15:30 | Friday 22:00 |
I recommend the following step for MT4 traders to access trading hours:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Sessions
Account Types
MTrading offers two account types, the commission-free Premium, and the commission-based Pro. I recommend the latter, as the trading costs are notably cheaper, but equity CFDs cannot be traded through this account type. The minimum deposits are $100 and $500 respectively, higher than most brokers but within a reasonable range.
MTrading Demo Account
MTrading offers an MT4 demo account which seems to be available for an unlimited duration, which is good. They are ideal for testing expert advisors, for which MTrading published an article. The MT4 demo account allows traders to create trading conditions close to live ones but cannot substitute them.
Trading Platforms
Traders get the MT4 trading platform plus the Supreme Edition upgrade, giving traders with a platform edge. MTrading also has the MAM module for PAMM accounts, and traders may access the lightweight web-based version or use the mobile app. MT4 remains the market leader for algorithmic trading, and I highly recommend it for most scalpers, as it presents the most versatile infrastructure and advanced trading solutions.
Overview of Trading Platforms
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
DOM? | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
One-Click Trading | |
OCO Orders | |
Interest on Margin |
Unique Features
MTrading offers PAMM accounts and its proprietary copy trading service. I like that MTrading picked a niche, as each broker needs a stand-out product. Beginner traders will enjoy the simplicity, while expert traders can increase their assets under management. The generous affiliate offer further enhances the appeal to traders interested in growing their PAMM business.
Research and Education
The trading recommendation published daily under Market Insights at MTrading offers an easy-to-understand and brief, actionable setup. I like the short format, and traders get all they need in less than 30 seconds from the chart and written content.
Beginner traders get a series of articles and tutorials, and I recommend them as a starting point. MTrading also hosts webinars, which offer an interactive approach. It has also held seminars in more than ten countries. While MTrading presents a well-thought-out introduction to trading, I recommend new traders take advantage of additional educational resources online and free of charge. It also applies to those interested in using PAMM accounts and copy trading.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/7 |
Website Languages |  |
MTrading does not offer 24/5 customer support and only presents a live chat function. It does not provide contact details, and an e-mail address exists for clients in the back office. The FAQ section answers many questions, and while MTrading explains its products and services well, I would prefer better access to a representative in the case of emergencies. However, it is worth remembering that most traders are unlikely to ever need to use customer support.
Bonuses and Promotions
MTrading grants new traders a $30 no deposit bonus, ideal for testing the trading conditions. All profits remain withdrawable. Another bonus is the 200% deposit bonus, but it only applies to the more expensive Premium account. Terms and conditions apply, and I recommend traders read and understand them before accepting a bonus.
Opening an Account
Opening an account at MTrading takes less than 15 seconds, and I appreciate the swift process. After submitting an e-mail address, name, and valid mobile phone number, traders can log into the secure back office of MTrading. Account verification remains a mandatory final step, and most traders pass it after sending a copy of their ID and one proof of residency document.
Minimum Deposit
The minimum deposit for the MTrading Premium account is $100 and $500 for the MTrading Pro account. These are higher than most other brokers but are still within a reasonable range.
Payment Methods
MTrading offers bank wires, credit/debit cards, Skrill, Neteller, and 30+ local payment solutions. I like the versatility and choice of payment processors, as it presents global traders with convenient options.
Accepted Countries
MTrading caters to traders in most countries, including clients resident India, Malaysia, Nigeria, the Philippines, and South Africa.
Deposits and Withdrawals
Traders will conduct all financial transactions from the secure back office of MTrading. There are no deposit fees, but withdrawal costs apply, dependent on the payment processors. Processing times also vary and may take up to five business days. I recommend traders check the fees with their preferred payment solution, including withdrawing funds to their bank account if using an e-wallet. MTrading ensures a hassle-free process from their end.
Bottom Line
I like the trading environment in the MTrading Pro account due to its competitive cost structure. It makes it ideal for scalpers and high-frequency traders who do not keep overnight positions. MTrading offers traders the MT4 trading platform, enhanced via the Supreme Edition update. The focus of this broker is account management via PAMM and its proprietary copy trading service. MTrading enhances its niche by offering a generous affiliate program, making it ideal for traders interested in growing their assets under management.
Beginner traders get easy-to-understand trading recommendations. MTrading also hosts webinars and publishes written educational content. Since the asset selection is narrow, traders with a focused strategy requiring few but highly liquid trading instruments will benefit the most from the trading conditions at MTrading. I like a broker who focuses on distinct niches of the Forex market and attempts to excel rather than providing a mediocre offering for all traders. MTrading fits this category and executes well for its target market. MTrading operates since 2012 and is an international business company (IBC) duly registered in St. Vincent and the Grenadines with more than 250,000 clients and 5,000 partners. It is also a member of the Hong Kong-based Financial Commission. MTrading is ideal for scalpers and high-frequency traders due to its competitive cost structure. It is also an excellent choice for PAMM managers, copy traders, and affiliates.FAQs
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Is MTrading a good broker?
