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MELLON INNOVATION

United States|5-10 years|
MT5 Full License|Regional Brokers|High potential risk|

http://www.mellonforex.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
MellonTechnology-Demo MT5
Server Location United States

Contact

support@mellonforex.com,mellon.hk@mellonforex.com,mellon.us@mellonforex.com
http://www.mellonforex.com/

Licenses

No valid regulatory information, please be aware of the risk!

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Company Name

MELLON INNOVATION TECHNOLOGY INC

Abbreviation

MELLON INNOVATION

Platform registered country and region

United States

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-07-12
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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MELLON INNOVATION · WikiFX Survey

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MELLON INNOVATION · Company Summary

MELLON INNOVATION Basic Information
Company Name MELLON INNOVATION
Founded 2017
Headquarters United States
Regulations Unregulated
Tradable Assets Currencies, Commodities, Stocks, Indices
Account Types Standard, Premium, ECN
Minimum Deposit Varies by account type (Standard may have no minimum)
Maximum Leverage 1:1000
Spreads Variable
Commission Based on account type (Higher on ECN accounts)
Deposit Methods Credit & Debit Cards, Wire Transfer, Cryptocurrency
Trading Platforms MetaTrader 4, MetaTrader 5
Customer Support 24/7 via Email
Education Resources Video Tutorials, Ebooks, Webinars
Bonus Offerings None

Overview of MELLON INNOVATION

Founded in 2017, MELLON INNOVATION has made its mark in the trading world by offering a wide variety of trading instruments. From major currency pairs to global commodities and stocks, traders have an expansive realm of choices. With account types designed to cater to both novices and professionals, MELLON INNOVATION seeks to accommodate all. However, a significant drawback is its lack of regulation, which brings about concerns regarding fund safety and business practices. As with all trading endeavors, potential clients must weigh the offerings against the inherent risks of partnering with an unregulated entity.

basic-info

Is MELLON INNOVATION Legit?

MELLON INNOVATION is not regulated by any recognized financial regulatory authority. As an unregulated broker, it operates without oversight from regulatory bodies that are responsible for ensuring compliance with industry standards and protecting the interests of traders. This lack of regulation raises concerns about the safety and security of funds, as well as the transparency of the broker's business practices.

Trading with an unregulated broker like MELLON INNOVATION carries inherent risks. Without regulatory supervision, there may be limited avenues for dispute resolution, and traders may face challenges in seeking recourse in case of any issues or disputes. Additionally, unregulated brokers may not be subject to stringent financial and operational standards, potentially leading to inadequate client fund protection and unfair trading practices.

regulation

Pros and Cons

By integrating a myriad of trading instruments and platforms, MELLON INNOVATION seems poised to cater to a vast clientele. Yet, potential traders must tread cautiously due to the inherent risks linked to an unregulated brokerage. Being informed and vigilant can help traders make the best decision aligned with their trading aspirations.

Pros Cons
  • Wide variety of trading instruments
  • Unregulated broker
  • Multiple account types catering to diverse traders
  • Potential lack of transparency
  • High leverage
  • Concerns about fund safety
  • Access to renowned MetaTrader platforms
  • Possible high commissions on specific account types

Trading Instruments

MELLON INNOVATION provides traders with a diverse selection of trading instruments to choose from. These instruments cover various asset classes and include:

  • Currencies: Traders can engage in the forex market with access to major, minor, and exotic currency pairs. This extensive selection allows for diversified trading strategies and the opportunity to capitalize on global economic trends.

  • Commodities: MELLON INNOVATION offers traders the chance to trade commodities, including precious metals like gold and silver, energy commodities such as oil, and base metals like copper. Commodity trading can serve as a hedge against inflation and a way to profit from commodity price movements.

  • Stocks: Traders looking to invest in individual companies can trade a variety of US, UK, and European stocks through MELLON INNOVATION. This provides opportunities to build portfolios that align with specific market sectors or companies of interest.

  • Indices: Major global stock indices are also available for trading. These indices represent the performance of multiple stocks and offer a broader perspective on the overall market's movements. Trading indices can be an effective way to diversify a portfolio.

products

Here is a comparison table of trading instruments offered by different brokers:

Broker MELLON INNOVATION RoboForex FxPro IC Markets
Forex Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Crypto No Yes Yes Yes
CFD No Yes Yes Yes
Indexes Yes Yes Yes Yes
Stock Yes Yes Yes Yes
ETF No Yes No Yes
Options No No Yes No

Account Types

MELLON INNOVATION customizes its offerings to cater to traders of varying experience and financial capabilities by providing diverse account options:

  • Standard Account: Designed for newcomers to the trading world, the Standard Account serves as an entry point, requiring no minimum deposit. This account provides basic features suitable for traders still familiarizing themselves with the market dynamics.

  • Premium Account: For the more seasoned traders seeking advanced features, the Premium Account is the optimal choice. Requiring a higher minimum deposit, it offers tighter spreads and a plethora of additional tools to enhance the trading experience.

  • ECN Account: The ECN Account is tailored for professionals, providing direct market access with raw spreads. Its structure is ideal for those who prefer to trade directly with liquidity providers, ensuring faster trade execution and transparency.

Leverage

Understanding the importance of financial flexibility, MELLON INNOVATION offers a substantial leverage ratio:1:1000.This significant ratio enables traders to control a larger position with a relatively small amount of capital. While this presents opportunities for magnified profits, traders should remain cautious as it also implies amplified losses. Leveraging positions should be approached with a sound risk management strategy.

Here is a comparison table of maximum leverage offered by different brokers:

Broker MELLON INNOVATION IG Group VantageFX RoboForex
Maximum Leverage 1:1000 1:30 1:500 1:2000

Spreads and Commissions (Trading Fees)

Cost efficiency is crucial in trading, and MELLON INNOVATION ensures competitive cost structures:

Variable Spreads: Depending on market conditions and liquidity, spreads at MELLON INNOVATION fluctuate. While they remain competitive, traders should stay updated on the prevailing spreads before placing trades.

Commissions: On select account types, especially the ECN account, MELLON INNOVATION might levy a commission. These commissions are clearly stated, allowing traders to factor them into their cost considerations.

Non-Trading Fees

Beyond the trading landscape, MELLON INNOVATION has specific fee structures:

  • Deposit & Withdrawal Fees: While depositing and withdrawing funds, traders might incur charges. These charges vary depending on the transaction method chosen.

  • Inactivity Fees: Accounts that remain dormant for a prolonged period could be subjected to inactivity fees. This serves as a maintenance cost for keeping the account active.

  • Swap Fees: When positions are held overnight, swap or rollover fees might apply. These fees are essentially interest differentials between the two currencies in a currency pair.

fees

Deposit & Withdraw Methods

MELLON INNOVATION streamlines its financial transactions to offer convenience:

  • Credit & Debit Cards: A universally accepted method, card transactions provide quick and hassle-free deposits and withdrawals.

  • Wire Transfer: For those who prefer traditional banking methods, wire transfers are supported, though they might take a bit longer to process.

  • Cryptocurrency: Embracing modern financial trends, MELLON INNOVATION also allows cryptocurrency transactions, ensuring faster and more secure transfers.

Trading Platforms

MELLON INNOVATION prioritizes user-friendly and feature-rich trading platforms to enhance the trading experience. The brokerage offers access to the widely recognized MetaTrader 4 and MetaTrader 5 platforms. These platforms are renowned for their comprehensive toolsets, including advanced charting tools, support for multiple timeframes, and the capability to implement automated trading strategies through Expert Advisors (EAs).

MetaTrader 4 and MetaTrader 5 are favored by traders of all experience levels due to their intuitive interfaces and robust functionalities. They enable traders to conduct in-depth technical analysis, execute various order types, and access a wide range of trading indicators. The availability of these platforms ensures that MELLON INNOVATION caters to both beginners and seasoned traders, providing them with the tools they need to make informed trading decisions and execute strategies effectively.

trading-platform

Customer Support

MELLON INNOVATION provides customer support through multiple email channels, including support@mellonforex.com, mellon.hk@mellonforex.com, and mellon.us@mellonforex.com. These email addresses serve as convenient communication channels for traders seeking assistance, information, or resolution of any queries related to their trading accounts, platform usage, or other brokerage-related concerns.

Educational Resources

Believing in informed trading, MELLON INNOVATION has a comprehensive educational suite:

  • Video Tutorials: Offering visual insights into trading concepts and platform functionalities.

  • Ebooks: Detailed literature covering a wide range of trading topics, from basics to advanced strategies.

  • Webinars: Interactive sessions hosted by market experts, diving deep into specific subjects and market analyses.

  • Trading Tools

To complement the trading experience, MELLON INNOVATION provides an array of tools:

  • Economic Calendar: Stay updated on global financial events that could impact the markets.

  • Trading Calculator: A handy tool to quickly compute potential profits, losses, and other trade parameters.

  • News Feed: Real-time updates on market-moving news, ensuring traders are always in the loop.

Conclusion

MELLON INNOVATION, with its diverse trading instruments and advanced platforms, offers traders numerous opportunities to delve into global markets. However, its unregulated status significantly overshadows these benefits, raising concerns about transparency, fund safety, and fairness in trading practices. As always, potential clients should approach with caution and conduct thorough research before committing funds.

FAQs

Q: Is MELLON INNOVATION a regulated broker?

A: No, MELLON INNOVATION is not regulated by any recognized financial regulatory authority.

Q: What trading platforms does MELLON INNOVATION offer?

A: MELLON INNOVATION provides both MetaTrader 4 and MetaTrader 5 platforms.

Q: What is the maximum leverage provided by MELLON INNOVATION?

A: MELLON INNOVATION offers a maximum leverage of 1:1000 on most of its trading instruments.

Q: Does MELLON INNOVATION charge non-trading fees?

A: Yes, MELLON INNOVATION has various non-trading fees, including deposit, withdrawal, inactivity, and swap fees.

Q: What educational resources are available with MELLON INNOVATION?

A: MELLON INNOVATION provides video tutorials, ebooks, and webinars as part of its educational resources.

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