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MFM Securities

Saint Vincent and the Grenadines|2-5 years|
High potential risk|

https://www.mfmsecurities.com/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

Philippines 6.46

Surpassed 100.00% brokers

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Contact

+44 131 618 8832
support@mfmsecurities.com
https://www.mfmsecurities.com/
First Floor, ICOUNT Building, Kumul Highway, Port Villa, Vanuatu

Licenses

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

Single Core

1G

40G

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Disclosure

Danger

MY SCM
2021-01-01
INVESTOR ALERT LIST
MFM Securities
MFM Securities

Contact number

English

+44 131 618 8832

Other ways of contact

Broker Information

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Warning: Low score, please stay away! 4
Previous Detection : 2024-07-12
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 700451) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Vanuatu VFSC regulation with license number: 700451 is an offshore regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

MFM Securities · WikiFX Survey

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Expose

MFM Securities · Company Summary

Registered in St. Vincent and the Grenadines
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments Currency pairs, indices, commodities, metals, energy, stocks, cryptocurrencies
Minimum Initial Deposit $15
Maximum Leverage 1:1000
Minimum spread 0.0 pips onwards
Trading platform MT4, MT5
Deposit and withdrawal method Bank wire transfer, credit/debit card, cryptocurrencies, online banking
Customer Service Email/phone number/address/live chat
Fraud Complaints Exposure Yes

General information

MFM Securities is an online forex broker registered in St. Vincent and the Grenadines. It declares to have a VFSC regulation, but our group tends to verify it as a clone one. Please be aware of the risk.

MFM Securities offers a range of trading instruments, including currency pairs, indices, commodities, metals, energy, stocks, and cryptocurrencies. However, its regulatory license is suspicious, raising concerns about its legitimacy. The broker claims to be regulated by VFSC, but there are doubts regarding the authenticity of this claim.

MFM Securities provides different account types, including a demo account for risk-free trading and live accounts with minimum deposit requirements ranging from $15 to $100, depending on the account type. The broker offers the popular trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for accessing the markets.

While MFM Securities boasts a maximum leverage of 1:1000, which may appeal to professional traders and scalpers, it's crucial to consider the potential risks associated with high leverage. The broker supports various deposit and withdrawal methods, including bank wire transfer, credit/debit cards, cryptocurrencies, and online banking.

Educational resources, such as seminars, economic calendars, news updates, and access to a trading central platform, are available to assist traders in enhancing their knowledge. Customer support is offered in multiple languages through email, phone, and live chat, with service available 24/5. However, it's important to note that MFM Securities has received complaints and caution is advised when dealing with this broker.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

General information

Pros and Cons

MFM Securities is an online forex broker registered in St. Vincent and the Grenadines. While it claims to have a VFSC regulation, it has been flagged as a suspicious clone with no effective regulation at this time. This raises concerns about the legitimacy and potential risks associated with trading with MFM Securities. On the positive side, the broker offers a wide range of trading instruments, including currency pairs, indices, commodities, metals, energy, stocks, and cryptocurrencies. They also provide a demo account for traders to practice without risking real money and offer a low minimum initial deposit requirement of $15 for opening a live account. However, there have been reports of fraud complaints, indicating potential issues with the broker's practices. It is essential for traders to exercise caution and carefully consider the risks before engaging with MFM Securities.

Pros Cons
Wide range of trading instruments Suspicious clone with no effective regulation
Demo account available Reports of fraud complaints
Low minimum initial deposit Lack of transparency in regulatory status
Multiple deposit/withdrawal options Potential issues with trading conditions
Access to popular trading platforms (MT4, MT5) Limited educational resources for traders
Multilingual customer support Concerns about the broker's business practices

Is MFM Securities Legit?

Based on the information provided, it appears that MFM Securities claims to be regulated by the Vanuatu Financial Services Commission (VFSC) with license number 700451. However, the regulatory status of MFM Securities is suspicious and has been flagged as a clone. The warning states that the broker currently has no valid regulation and that the claimed VFSC regulation is suspected to be a clone.

The information further indicates that MFM Securities does not have a valid trading software, which adds to the concerns about its legitimacy. Given these warnings and the lack of certified documents, it is advisable to exercise caution and consider the potential risks associated with dealing with MFM Securities.

regulation

Market instruments

MFM Securities provides access to a diverse range of trading markets, offering clients a variety of market instruments to trade. These instruments include:

1. Currency Pairs: Clients can trade major, minor, and exotic currency pairs in the forex market. This allows them to participate in the global currency exchange and take advantage of fluctuations in exchange rates.

2. Indices: MFM Securities offers trading on a range of stock indices, such as the S&P 500, Dow Jones Industrial Average, FTSE 100, and more. Trading indices allows investors to speculate on the performance of a basket of stocks representing a particular market or industry.

3. Commodities: Clients can trade various commodities, including agricultural products (such as wheat, corn, and soybeans), energy commodities (such as crude oil and natural gas), and precious metals (such as gold, silver, and platinum). Trading commodities provides exposure to global supply and demand dynamics.

4. Metals: MFM Securities allows clients to trade precious metals like gold, silver, and platinum. These metals are often sought after as safe-haven assets and can be used as a hedge against inflation or economic uncertainty.

5. Energy: Trading energy commodities, such as crude oil and natural gas, enables clients to take positions based on market fluctuations in the energy sector. Energy markets are influenced by factors like geopolitical events, supply and demand dynamics, and weather patterns.

6. Stocks: MFM Securities offers trading in individual stocks, allowing clients to buy and sell shares of publicly traded companies. This provides an opportunity to participate in the performance of specific companies and industries.

7. Cryptocurrencies: MFM Securities allows clients to trade cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. Cryptocurrencies are digital assets that operate on blockchain technology, and their prices can be highly volatile.

Pros Cons
Diverse range of trading markets Limited availability of some niche instruments
Access to major, minor, and exotic currency pairs Market volatility and risks associated with trading
Trading on popular stock indices Potential impact of geopolitical events on markets
Opportunity to trade various commodities Fluctuations in global supply and demand dynamics
Availability of precious metals for trading Exposure to market fluctuations in the energy sector

Spreads and commissions for trading with MFM Securities

MFM Securities has a very detailed table of spreads, where the clients may easily check the spreads of different instrument between different accounts. For example, the spreads of EURUSD in micro, standard, prime and ECN account are respectively 1.9, 1.9, 0.5. and 0.2 pips. The commissions depend on the account types.

spreads and commissions

Account Types for MFM Securities

DEMO ACCOUNT: MFM Securities provides a demo account that allows you to try out the financial markets without the risk of losing money.

LIVE ACCOUNT: MFM Securities offers a total of 4 account types: micro, standard, prime, and ECN. The minimum deposit to open an account is $15, $25, $100, and $100 respectively. Its everything but demanding to open an account in MFM Securities when it comes to the minimum deposit. However, we should also realize that too little capital not only reduces losses but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

account types
Pros Cons
Demo account available for risk-free practice Smaller initial deposits may lead to reduced profitability and poorer trading conditions
Multiple account types to suit different needs Potential for accounts with smaller deposits to be less exciting or profitable
Wide range of minimum deposit options

Minimum Deposit

To start trading with MFM Securities, a minimum initial deposit of $15 is required for opening a live account. This amount serves as the entry requirement for clients who wish to engage in trading activities through the broker's platform.

Leverage

MFM Securities provides a maximum leverage of 1:1000, which is suitable for professional traders and scalpers. It is important to note that while leverage can amplify profits, it also carries the risk of capital loss, particularly for inexperienced traders. Traders should carefully consider their risk tolerance and select an appropriate leverage amount.

Spreads and commissions for trading with MFM Securities:

MFM Securities provides a detailed table of spreads for clients to review. The spreads vary between different instruments and account types. For instance, the spreads of EURUSD in the micro, standard, prime, and ECN accounts are 1.9, 1.9, 0.5, and 0.2 pips respectively. The commissions associated with the accounts are dependent on the specific account types.

Trading platforms offered by MFM Securities

Clients of MFM Securities have the option to choose between two well-known trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely recognized and can be accessed from various devices. If you have been contemplating which platform to utilize, MFM Securities provides a helpful article that compares the similarities and differences of MT4 and MT5, offering specific advice for your reference.

trading-platform
Pros Cons
Access to popular trading platforms Limited platform options (MT4 and MT5 only)
Widely recognized platforms Potential learning curve for new traders
Availability across various devices Limited customization options
Comprehensive resources and articles Platform-specific features may vary
Detailed comparison between MT4 and MT5 Potential reliance on third-party plugins

Deposit and Withdrawals

MFM Securities provides clients with multiple options for depositing and withdrawing funds from their trading accounts. The available deposit methods include Bank Wire (BankTransfer/SWIFT), Credit/Debit Card, Cryptocurrency, and Online Bank Transfer. Similarly, clients can use these same methods for withdrawing their funds from the trading accounts.

To ensure a smooth deposit and withdrawal process, MFM Securities offers a detailed form that captures essential information related to the transaction. This form includes details such as the chosen currency, preferred payment method, minimum deposit/withdrawal amount, expected arrival date of funds, and any applicable fees.

Pros Cons
Multiple deposit methods Possible fees associated with certain methods
Various withdrawal options Potential delays in fund arrival
Detailed form for transaction Lack of information regarding withdrawal fees
Smooth deposit and withdrawal process Limited information on minimum deposit/withdrawal amounts

Users exposures on WikiFX

On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

users' exposure

Customer support of MFM Securities

MFM Securities provides customer support through various channels. The customer service is available in multiple languages, including English, Bahasa Indonesia, Filipino, Vietnamese, Bahasa Melayu, Arabic, and Thai. The service hours are 24/5, allowing clients to reach out during specified times.

Below are the details about the customer service.

Language(s): English, bahasa indonesia, Filipino, Vietnamese, Bahasa melayu, Arabic, Thai language, Filipino

Service Hours: 24/5

Address: Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and The Grenadines

Email: support@mfmsecurities.com

Phone Number: +44 131 618 8832

Social media: Facebook, Instagram, LinkedIn, YouTube, twitter

customer support

Educational resources

MFM Securities provides various educational resources to assist traders in enhancing their knowledge and understanding. These resources include seminars, an economic calendar, news updates, and access to a trading central platform. Traders can benefit from these educational materials to stay informed about market events, economic indicators, and relevant news that may impact their trading decisions. The availability of these resources aims to support traders in their pursuit of acquiring information and insights related to the financial markets.

Pros Cons
Wide range of educational resources including seminars, economic calendar, news updates, and more Limited depth and comprehensive educational materials
Access to a trading central platform for additional market insights and analysis Lack of personalized or tailored educational content
Helps traders stay informed about market events, economic indicators, and relevant news Possible reliance on external sources for educational content
Supports traders in acquiring information and insights related to the financial markets Limited interactive or practical learning opportunities

Conclusion

In conclusion, MFM Securities presents several disadvantages and advantages for potential investors to consider. On the downside, the regulatory status of MFM Securities is suspicious, with warnings of being a clone and lacking valid regulation. The absence of a valid trading software raises concerns about the legitimacy of the broker. Additionally, accounts with smaller initial deposits may have poorer trading conditions. On the positive side, MFM Securities offers a diverse range of market instruments, including currency pairs, indices, commodities, metals, energy, stocks, and cryptocurrencies. They provide multiple options for depositing and withdrawing funds, and clients can choose between the popular MetaTrader 4 and MetaTrader 5 trading platforms. Educational resources are available to support traders in enhancing their knowledge. However, due to the aforementioned disadvantages and potential risks associated with MFM Securities, it is advisable to exercise caution and carefully consider these factors before engaging with the broker.

FAQs

Q: Is MFM Securities regulated?

A: The regulatory status of MFM Securities is suspicious, and it has been flagged as a clone. The claimed regulation by the Vanuatu Financial Services Commission (VFSC) with license number 700451 is considered to be a clone and not valid at this time.

Q: What are the available market instruments on MFM Securities?

A: MFM Securities offers a wide range of market instruments, including currency pairs, indices, commodities, metals, energy, stocks, and cryptocurrencies.

Q: What is the minimum deposit required to open a live account with MFM Securities?

A: The minimum initial deposit to open a live account with MFM Securities is $15.

Q: What leverage does MFM Securities offer?

A: MFM Securities provides a maximum leverage of 1:1000, which is suitable for professional traders and scalpers. However, traders should carefully consider their risk tolerance when utilizing high leverage.

Q: What are the deposit and withdrawal methods available on MFM Securities?

A: MFM Securities offers various deposit and withdrawal methods, including bank wire transfer, credit/debit card, cryptocurrencies, and online banking.

Q: What trading platforms are available on MFM Securities?

A: Clients of MFM Securities can choose between MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

Q: Does MFM Securities provide educational resources?

A: Yes, MFM Securities offers educational resources such as seminars, an economic calendar, news updates, and access to a trading central platform.

Q: How can I contact MFM Securities customer support?

A: You can contact MFM Securities customer support through email at support@mfmsecurities.com or by calling +44 131 618 8832. They also have a presence on social media platforms.

News

WIKIFX REPORT: MFM SECURITIES REVIEW – IS THIS A TRUSTWORTHY FOREX BROKER?

NewsWIKIFX REPORT: MFM SECURITIES REVIEW – IS THIS A TRUSTWORTHY FOREX BROKER?

2022-06-20 16:06

MFM Securities Forex Broker is an online platform that advertises itself as an international broker firm that provides financial services to traders from all over the world. They serve institutional and retail clients all around the world, but we wanted to see if the information on their main website was accurate. When working with Forex brokers, the first and most crucial consideration is whether or not they can be trusted with your financial assets.

WikiFX
2022-06-20 16:06
News
WIKIFX REPORT: MFM SECURITIES REVIEW – IS THIS A TRUSTWORTHY FOREX BROKER?
MFM Securities Do-It Ramadan Contest 2022

NewsMFM Securities Do-It Ramadan Contest 2022

2022-04-19 15:20

The MFM Securities Malaysia Do-It Ramadan Contest will take place from March 28th to April 4th, 2022. The month of Ramadhan has arrived, and it is time to contribute more. Take part in MFM Securities Do-It-Yourself Ramadan Contest for a chance to win cash!

WikiFX
2022-04-19 15:20
News
MFM Securities Do-It Ramadan Contest 2022
 5 things you should know about mfmsecurities.com

News 5 things you should know about mfmsecurities.com

2021-12-16 23:16

MFM Securities is an offshore broker that, despite its status, is quite decent looking. However, brokers should focus on trading conditions, and not on looks. The leverage is maxed at 1:500, a common offshore broker value, while the EUR/USD spread was 2.1 pips on the demo platform. Such a spread is not really very lucrative for traders.

WikiFX
2021-12-16 23:16
News
 5 things you should know about mfmsecurities.com

User Reviews

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随缘化
more than one year
The company is reliable and trustworthy all that’s required is to follow all instructions given to you by your account manager and trust me you going to be happy at the end of the trading session.
2023-02-22 14:02
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卓凡团队
more than one year
Austin from this platform told me I can be given the most favorable offerings, but I am still hesitating in put some of my spare money on it. and I am still hunting for some other investment opportunities since I saw many negative reviews about this broker.
2023-02-15 09:38
Reply
0
0
吴楚平
more than one year
I just started trading and made profits, but when I withdraw my money, it doesn’t reflect on my bank account. It has been 5 days since I made that withdrawal, my money still does’t come.
2022-12-19 10:06
Reply
0
1
阿楠
more than one year
Are the deposit requirements so low? I am so excited, I just like to use this kind of flexible trading platform without too much burden. I have opened an ECN account with 100 US dollars, let's see how the transaction is going.
2022-12-15 18:36
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0
1
༺ༀ༂࿅࿆小༒龙࿅࿆༂ༀ༻
more than one year
The broker's website looks legitimate, but it's actually not regulated at all. Just a random search on the Internet can find a lot of negative comments about him. Even if you make money on it, you will not be allowed to withdraw money.
2022-12-15 10:01
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