Miracle FX (miraclefx.biz) is an online contract for differences (CFD) trading platform established in September 2024. The website offers investors a diverse array of trading options, covering various asset classes such as forex, precious metals, crude oil, indices, and cryptocurrencies. However, the platform clearly states that it does not provide services to regions where it would violate local laws and regulations.
Overview of Platform Services
Types of Trading Accounts
Miracle FX offers four types of trading accounts tailored to different investor needs:
Micro Account
- Spread: 2.0 pips
- Swap/Islamic Account: No
- Margin Call Level: 70%
- Stop Out Level: 50%
- Trading Commission: None
- Maximum Leverage: 1:500
- Minimum Deposit: 10 USD
- Minimum Trade Size: 0.01 lots
- Maximum Single Trade Volume: 5 lots
- Maximum Order Quantity: 100 lots
- Trade Execution Speed: Instant execution
- Account Currency: USD
- Customer Manager Service: Provided
- Scalping: Not supported
Mini Account
- Spread: 1.5 pips
- Minimum Deposit: 100 USD
- Maximum Single Trade Volume: 10 lots
- Maximum Order Quantity: 200 lots
- Other conditions are identical to the Micro Account.
Standard Account
- Spread: 1.2 pips
- Maximum Leverage: 1:200
- Minimum Deposit: 1000 USD
- Maximum Single Trade Volume: 20 lots
- Maximum Order Quantity: 200 lots
- Other conditions are identical to the Micro Account.
ECN Account
- Spread: Raw spread
- Swap/Islamic Account: Yes
- Trading Commission: 6 USD
- Maximum Leverage: 1:100
- Minimum Deposit: 5000 USD
- Maximum Single Trade Volume: 30 lots
- Maximum Order Quantity: 300 lots
- Other conditions are identical to the Micro Account.
Trading Platform
Miracle FX offers the TM9 trading platform, available in both desktop and mobile versions, along with copy trading functionality, allowing investors to trade anytime and anywhere.
Deposit and Withdrawal Methods
The platform supports various deposit and withdrawal methods, including bank transfers, UPI, Visa, MasterCard, Google Pay, and cryptocurrencies. Withdrawals are mainly via bank transfer and cryptocurrencies. Except for cryptocurrencies, other payment options support only Indian Rupees. Additionally, while deposits via Visa and MasterCard incur a 3% fee, other methods are fee-free.
Contact and Social Media
Although the website displays icons for major social media platforms like Facebook, Instagram, and Twitter, Miracle FX does not maintain official accounts on these platforms. Users can contact the customer support team via the phone number or email provided on the website.
Company Background and Regulation Information
Company Background
According to information disclosed on miraclefx.biz, Miracle FX claims to have been founded in 2019 with its headquarters in Dubai and holds multiple regulatory licenses, positioning itself as one of the world's most influential brokers. However, the website does not provide specific registration details of the company nor disclose comprehensive regulatory information.
Regulation Information
Upon investigation, no registration or regulation information for Miracle FX was found on the websites of major financial regulators, including the UK's Financial Conduct Authority (FCA), the U.S. Securities and Exchange Commission (SEC), or the European Securities and Markets Authority (ESMA). Similarly, the Dubai Financial Services Authority (DFSA) does not record any related information.
Conclusion
Miracle FX is a newly established CFD trading platform from 2024, offering diversified trading services. However, it is worth noting that the platform lacks genuine company entity information and has not acquired authorization or regulation from any renowned financial authority.
Risk Warning: Trading CFDs involves high risk, and market fluctuations might lead to the loss of your principal, with leverage amplifying both risks and potential returns. It is recommended that investors fully understand market volatility and the mechanics of CFD trading, assess their risk tolerance, and operate only when they have sufficient experience to avoid impulsive investment.
