Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

MOTFX

Mongolia Mongolia|1-2 years|
Retail Forex License|MT5 Full License|Global Business|

https://www.motforex.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

5
Server Name
MOTForex-Demo-1 MT5
Server Location Singapore

Contact

+976 72222200
info@motforex.com
https://www.motforex.com
01, 7th Floor, Galaxy Tower, Mahatma Gandhi street, 15th Khoroo, Khan-Uul, District, Ulaanbaatar, Mongolia

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+976 72222200

Broker Information

More

Company Name

MOT FOREX LLC

Company Abbreviation

MOTFX

Platform registered country and region

Mongolia Mongolia

Company website
Facebook
Instagram
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Verification

MOTFX · WikiFX Survey

Users who viewed MOTFX also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

GMI

7.47
Score
5-10 yearsRegulated in United KingdomStraight Through Processing(STP)MT4 Full License
Official website

STARTRADER

8.54
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

J.P. Morgan

7.47
Score
Above 20 yearsRegulated in Hong KongDealing in futures contractsSelf-developed
Official website

MOTFX · Company Summary

MOTFX Review Summary
Registered Country/Region Mongolia Mongolia
Regulation FRC in Mongolia
Market Instruments Over 2,000 options, including Forex, CFDs, Metals, Energies, Indices, Cryptocurrencies, and Shares
Demo Account Available
Leverage Up to 1:1000
Spread From 0.8 pips (Standard Account)
Trading Platforms MetaTrader 5, cTrader
Minimum Deposit $25
Payment Methods Cryptocurrency, Credit and Debit Card
Customer Support Phone: +976-7222 2200
Email: info@motforex.com
Contact From
Facebook, Instagram, Telegram, and YouTube

What is MOTFX?

MOTFX is a forex trading platform registered in Mongolia. It offers access to various financial markets and instruments and operates globally, allowing traders from different regions to participate in the financial markets. It offers two main trading platforms, MetaTrader 5 and cTrader, known for their advanced charting tools and technical analysis capabilities. Additionally, MOTFX provides traders with high-leverage options, up to 1:1000, which can amplify potential profits but also increase risks.

What is MOTFX?

Pros & Cons

Pros Cons
  • Extensive Market Access
  • Excessive Leverage
  • Low Minimum Deposit
  • Renowned Trading Platforms
  • Various Payment Methods

Pros:

Extensive Market Access: MOTFX boasts over 2,000 tradable instruments, including popular forex pairs, commodities (metals, energies), indices, CFDs, cryptocurrencies, and even shares. This variety allows you to diversify your portfolio across various asset classes.

Low Minimum Deposit: With a minimum deposit of just $25, MOTFX is accessible to those starting with a smaller investment.

Renowned Trading Platforms: They offer both MetaTrader 5 and cTrader, which are widely recognized and user-friendly platforms for forex trading. These platforms provide advanced charting tools, order management functionalities, and automation capabilities.

Various Payment Methods: MOTFX supports various payment methods, including cryptocurrency, credit cards, and debit cards, providing convenience to traders.

Cons:

Excessive Leverage: MOTFX offers leverage of up to 1:1000. Leverage allows you to control a larger position size with a smaller deposit, potentially magnifying profits. However, it also amplifies losses significantly. With such high leverage, even a minor market movement against your position could result in substantial losses exceeding your initial investment.

Is MOTFX Legit?

MOT FOREX LLC is regulated by the The Financial Regulatory Commission (FRC), holding a Retail Forex License under license no. T3 106/1011.

Is MOTFX Legit?

Market Instruments

MOTFX provides traders with a comprehensive selection of market instruments, spanning across Forex, Metals, Energies, Indices, CFDs, Cryptocurrencies, and Shares.

Forex: MOTFX enables trading in a wide range of currency pairs, allowing traders to speculate on the exchange rate fluctuations between different currencies. Forex trading involves major currency pairs (like EUR/USD, USD/JPY), minor currency pairs (like AUD/NZD, EUR/CHF), and potentially even exotic currency pairs (like USD/THB, TRY/JPY).

Metals: You can access the precious metals market, including gold, silver, platinum, and palladium, providing opportunities for diversification and hedging against currency risks.

Energies: This lets you trade on energy commodities like crude oil and natural gas (potentially others as well). Similar to metals, you can speculate on the price movements of energies.

Indices: These instruments track the performance of major stock market indexes (e.g., S&P 500 in the US). You can speculate on whether the overall stock market represented by the index will go up or down.

Cryptos: You can trade popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple, taking advantage of the volatility and potential profit opportunities in the cryptocurrency market.

Market Instruments

Account Types

Naxware presents three account types to suit varying trader needs and preferences. The Standard account offers a well-rounded experience with competitive spreads from 0.8 pips and no commissions, ideal for those prioritizing simplicity. The Pro account stands out as the most popular choice, delivering raw spread access from 0.0 pips coupled with a $3.50 commission per side - appealing to active traders seeking exceptional pricing. For those adhering to Islamic finance principles, the Swap Free account eliminates overnight fees with slightly wider spreads from 2 pips. Across all account types, leverage up to 1:1000 is available, and traders can access the robust MetaTrader 5 and cTrader platforms.

Account Types

Demo Accounts

MOTFX provides all new account registrants with access to a user-friendly demo account running on the MetaTrader 5 platform. This practice account comes preloaded with $10,000 in virtual funds, allowing you to gain hands-on experience with the trading interface and test strategies in a risk-free environment before committing real capital. Leveraging MT5's powerful features, the demo replicates live market conditions, making it an invaluable tool for novice and experienced traders alike to hone their skills and build confidence without exposure to financial risk.

Demo Accounts

Leverage

MOTFX offers a flexible leverage range across all account types, enabling traders to adjust their position sizes according to their risk tolerance and trading strategies. The leverage options provided by MOTFX typically range from 1:50 to 1:1000.

Leverage amplifies both profits and losses. While it can magnify gains, a small move against your position can lead to significant losses exceeding your account balance. With 1:1000 leverage, a small price movement against your trade could wipe out your entire account and potentially leave you owing more to the broker. Leverage is a complex tool that requires a strong understanding of risk management. Beginners are more likely to misunderstand leverage and end up with substantial losses.

Leverage

Spreads & Commissions

MOTFX offers differing spread and commission structures across its range of account types. Understanding the spreads and commissions offered by MOTFX is essential for you to assess your overall trading costs accurately.

Spreads

The spreads at MOTFX vary depending on the account type and the trading instrument. Spreads represent the difference between the bid and ask prices of a currency pair or other financial instrument.

For example, the Standard Account features spreads starting from 0.3 pips on major currency pairs, while the Pro Account offers spreads starting from 0.0 pips. Additionally, the spread of Swing Account starts from 0.5 pips.

Competitive spreads are advantageous for traders as they directly impact the cost of trading. Lower spreads can result in reduced trading costs, especially for high-frequency traders or those executing large volumes of trades.

Commissions

Some account types at MOTFX incur trading commissions, typically charged on a per-lot basis. Commissions are separate from spreads and represent a fixed cost per trade.

The Pro Account has a commission of $3.50 per side per lot traded. This means traders pay a set fee for each standard lot (100,000 units of the base currency) traded, regardless of the trade's size or duration.

While commissions add to the overall cost of trading, they are often offset by tighter spreads, benefiting high-volume traders.

Commission

Promotions

Naxware offers an enticing 100% Withdrawable Deposit Bonus promotion to boost your trading capital. By depositing a minimum of $50, you qualify for up to $25,000 in bonus funds - one of the highest deposit bonuses available. The additional margin allows you to open larger positions and leverage your trading potential. Best of all, the bonus is withdrawable once you meet the specified trading lot requirements, providing a real opportunity to secure tangible returns.

To participate, simply open a new account or sign into your existing “MT5 Pro,” “MT5 Standard,” or “MT5 Swap Free” account. Fund your account with the desired deposit amount between $50 to $25,000, then manually activate the bonus from your client area. You can conveniently track your bonus status and trading requirements progress within the “My Bonuses” section. With a permanent promotion period, this generous deposit bonus presents an appealing way to amplify your trading power while maintaining the ability to profitably withdraw your bonus earnings.

Promotions

Trading Platforms

MOTFX offers two main trading platforms for users to choose from: MetaTrader 5 (MT5) and cTrader, each designed to cater to the diverse needs and preferences of traders. Both platforms are available in web-based and mobile versions, ensuring traders can access the markets anytime, anywhere.

MetaTrader 5 (MT5): MT5 is a well-established platform used by many forex brokers. It boasts a user-friendly interface that caters to beginners and a good range of charting tools and technical indicators for market analysis. It allows customization by letting you add custom indicators and develop automated trading strategies (Expert Advisors or EAs). All MOTFX accounts (Standard, Pro, and Swing) allow you to use MT5.

MT5

cTrader: cTrader offers a sleek and modern interface, appealing to beginners who find MT5's layout less intuitive. cTrader is geared more towards algorithmic trading. It has a built-in application programming interface (API) that allows you to create custom trading robots. This can be attractive for experienced, tech-savvy traders who want to automate their strategies. Only Standard and Pro accounts on MOTFX offer access to cTrader. The Swing Account is limited to the MT5 platform.

cTrader

Deposits & Withdrawals

Deposits and withdrawals at MOTFX are facilitated through a variety of third-party methods, including cryptocurrency, credit card, and debit card options. These options are designed to offer flexibility and convenience to traders, allowing them to choose the method that aligns with their preferences. Deposits are processed swiftly, ensuring that funds are available for trading promptly. Similarly, withdrawals are executed efficiently, enabling you to access their profits without unnecessary delays. Moreover, MOTFX does not impose any commission fees on deposits or withdrawals, promoting transparency and fairness in its services.

Deposits & Withdrawals

Customer Service

MOTFX provides comprehensive customer support to assist traders with their inquiries and concerns. You can reach their support team via phone at +976-7222 2200 or through email at support@motforex.com. For those who prefer social media channels, you can connect with them on Facebook, Instagram, Telegram, and YouTube, where their team is available to address your questions and provide assistance as needed.

Customer Service
Customer Service

Conclusion

MOTFX offers a tempting combination of features: a wide range of tradable instruments, a low minimum deposit, and popular trading platforms. In the end, whether to trade with this broker is your choice.

Frequently Asked Questions (FAQs)

What trading platforms does MOTFX offer?

MOTFX offers MetaTrader 5 (MT5) and cTrader as its main trading platforms.

What is the minimum deposit required to open an account with MOTFX?

The minimum deposit required is $25 for all account types.

Does MOTFX offer a demo account?

Yes, MOTFX provides a demo account for traders to practice trading without risking real money.

Are there any commission fees for deposits and withdrawals?

No, MOTFX does not impose any commission fees on deposits or withdrawals.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

12

Comments

Write a review

FX1193648352
0-3months
MOT is the newest reliable broker in town with 100% deposit bonus helping me gain my losses back on other brokers. Their spread is really low compared to Pepperstone and Avatrade. Deposit is instant, withdrawal is within 24 hours which I love.
2024-05-14 00:30
Reply
0
0
Michael Williams Jr
0-3months
I've been trading with MOTFX broker for quite some time now, and I can confidently say they've been an absolute game-changer for me. Their platform is not only intuitive but also packed with powerful tools that have significantly enhanced my trading experience. Whether I'm executing trades on the go or analyzing market trends, their platform never fails to deliver speed and reliability.
2024-04-26 12:14
Reply
0
0
姓氏
0-3months
This is the only broker I am confident trusting my money with. They are transparent and honest in all transactions. I deal with cryptocurrencies which is the most challenging asset. Thankful I found a good broker to trade with.
2024-04-26 12:12
Reply
0
0
FX3132298192
0-3months
Enjoy reliable support with our 24/5 customer service team, ready to assist you anytime during the week. Our new, trendy website is user-friendly and offers low spreads, making trading more cost-effective and enjoyable.
2024-04-26 12:12
Reply
0
0
FX3757315231
0-3months
I've been trading with MOTFX for about 6 months and they've really impressed me. The platform is super user-friendly and their customer support is amazing - always responsive and helpful. The educational resources like webinars and video tutorials are excellent for learning trading strategies. Tight spreads, fast execution, and quality research tools make MOTFX great for traders of all levels. Two thumbs up, I highly recommend giving them a try!
2024-04-26 12:10
Reply
0
0
姓氏
0-3months
I have to admit it, MOTFX is definite the best broker I ever met. Their support staff are always there to help me, friendly and professional. I cannot find a broker better than MOTFX.
2024-04-26 12:09
Reply
0
0
Ryo Sonoda
0-3months
I appreciate MOTFX's transparency when it comes to fees. They offer competitive spreads on major forex pairs and while there are some overnight fees, these are clearly outlined on their site. It's refreshing not to worry about hidden charges sneaking up on me.
2024-04-26 12:07
Reply
0
0
Lily6721
0-3months
Easy to use ;)
2024-04-26 12:06
Reply
0
0
FX3760029000
0-3months
Motfx exceeded my expectations with their user-friendly platform, reliable customer support, and diverse range of trading instruments, making them my top choice for forex trading.
2024-04-26 12:06
Reply
0
0
FX3437866629
0-3months
I've been using MOTFX for the past six months and am thoroughly impressed by its performance and ease of use. As someone who has experimented with multiple trading platforms, I find that [Trading Platform Name] stands out for several reasons. Firstly, the user interface is clean and intuitive, making it incredibly easy for both beginners and experienced traders to navigate. The platform offers a wide range of tools and charts, which are highly customizable and offer real-time data, helping me make informed decisions quickly.
2024-04-26 12:04
Reply
0
0
Franky0102
0-3months
Absolutely thrilled with my experience trading with MOTFOREX ! The support team is responsive and knowledgeable, always ready to assist with any questions or concerns. With competitive spreads and reliable execution, I've found trading with them to be both profitable and enjoyable. Highly recommend MOTFOREX to anyone looking for a trustworthy partner in the forex market!"
2024-04-26 11:25
Reply
0
0
FX2959293616
0-3months
Very good
2024-04-26 11:14
Reply
0
0
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong China

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com