MBFX is a foreign exchange broker registered in Saint Lucia, providing investors with foreign exchange, metals, energy, stocks, indices trading services, the company's official website only supports English as the language of use. In addition, the MBFX official website account registration page also supports English only.
Company background:
According to the MBFX website, the company is incorporated in Saint Lucia. A query on the Saint Lucia International Financial Centre (IFC) website showed that the information that the company was registered in Saint Lucia was true. In addition, the domain name registration information of the website queried by Whois shows that the company's official website domain name was registered on May 22, 2022, and the domain name registration time has been more than 1 year.
Account Registration:
MBFX official website information shows that the company provides investors with real account, demo account registration links. The way to register a real account is: Click "OPEN LIVE ACCOUNT" in the upper right corner of MBFX official website, or "OPEN A LIVE ACCOUNT" in the home page of MBFX official website to enter the account registration page, select or fill in the name, date of birth, telephone number, country, city, Email, password and other information as required. You can complete the real account registration. To register a DEMO ACCOUNT, click "OPEN DEMO ACCOUNT" at the upper right corner of the MBFX official website to enter the account registration page. Select or fill in the required information such as name, date of birth, phone number, country, city, Email address, and password to complete the demo account registration. In addition, the MBFX official website account registration page is only available in English.
Account Type:
According to MBFX's website, the company offers two different types of trading accounts for investors: PREMIUM ACCOUNT and VIP ACCOUNT. In addition, the MBFX website also provides the differences between the two accounts in terms of spreads, commissions, and minimum deposits.
Trading Products:
MBFX website information shows that the company provides investors with foreign exchange, metals, energy, stocks, indices trading services. In addition, although the MBFX website provides spread and commission information for some trading products and some trading products covered by Forex, metals, energy, stocks and indices, the MBFX website does not provide all trading products covered by Forex, metals, energy, stocks and indices. And all trading products commission, spread, minimum trading units, maximum trading units and other information.
Margin ratio:
Although MBFX shows in the "Account Type" on its website that it provides margin (leverage) ratio up to 1:500, the MBFX website does not provide margin (leverage) ratio information for specific trading products covered by Forex, metals, energy, stocks and indices under different account types.
Trading Hours:
The MBFX website does not provide information on the trading hours of specific trading products covered by Forex, metals, energy, stocks and indices.
Deposits and Withdrawals:
Although the official website of MBFX shows that it supports the deposit and withdrawal of telegraphic transfer, bank transfer, China UnionPay, wechat, VISA, Mastercard, Skrill, Perfect Money, Bpay, PayPal and other channels and methods, the official website of MBFX does not provide the deposit and withdrawal currencies supported by each deposit and withdrawal channel and method. Deposit and withdrawal fees and time information.
Trading Software:
MBFX provides investors with MetaTrader5 (MT5) trading software, MBFX provides MT5 software for computer (Winodws/MacOS), Web and mobile (IOS/Android). However, the Android version of MT5 software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Other services:
According to MBFX's website, the company provides investors with financial calculators, news and events, expert analysis, glossary and other services. Among them, financial calculators can help to measure the trading process or technical analysis in advance. News and events can help investors understand what is happening in the financial markets. Expert analysis is a technical analysis of some of the trading products offered by MBFX to investors. The glossary provides investors with the explanation of some terms of the financial market and helps investors master the basic terms of the financial market.
Regulatory information:
The MBFX website does not provide regulatory or licensing information it has obtained. The MBFX website shows that the website of the Saint Lucia Financial Services Regulatory Authority (FSRA), where the company is registered, does not find any regulatory or authorisation information relating to the company.
Summary:
MBFX is suspected of fraud. Although the results of a query on the Saint Lucia International Financial Centre (IFC) website show that the information of the company registered in Saint Lucia is true. However, the MBFX website does not provide any regulatory or authorization information obtained by it, and the MBFX website shows the website of the Financial Services Regulatory Authority of Saint Lucia (FSRA), the regulator where the company is registered, nor does it find any regulatory or authorization information related to the company. According to this judgment, MBFX is suspected of fraud, and investors should be careful to choose the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
