MTrading Review 2024
United States not accepted.Awards
- Change Africa Summit Award 2019
- FiNEXPO Best Broker 2019 & 2018
- Best Forex Rebate Provider 2016
Pros
- Straightforward trading experience with an easy-to-use terminal
- Supports the popular MT4 platform as well as the multi-platform and supreme editions
- High leverage available of up to 1:1000, allowing confident traders to boost their positions
Cons
- Relatively wide spreads, starting at more than 1 pip on popular assets
- Deposit and withdrawal fees on some payment methods will cut into profits
- Not regulated by a reputable financial body
MTrading Review
MTrading is an unregulated broker offering investing in forex, indices, stocks, and commodities. The MT4 platform is available with a host of add-ons and extra features. Our review of the broker covers minimum deposits, withdrawals, spreads, leverage and more. Find out whether to sign-up for an MTrading account.
MTrading Details
The broker was established in 2012 and has since grown into 10 offices globally with over 250,000 customers. The company predominately operates in Africa, Latin America and Asia with customers in Nigeria, Thailand, Malaysia and beyond.
MTrading is not regulated by any regulatory body and its head office is in St Vincent and the Grenadines. The brokerage offers a modest range of instruments with excellent tools, including a copy trading service.
Note, clients cannot sign up for an account from the US, UK, Australia and some other countries.
Trading Platforms
The broker offers a choice of trading platforms depending on user needs:
MetaTrader 4
The broker offers the well-regarded MT4 solution for investing in forex and CFDs. Traders benefit from many features:
- One-click trading
- Multiple order types
- Multi-timeframe charts
- Automated trading via EAs
- Available on Windows and Mac
- Dozens of technical indicators and price alerts
- Customisable user interface with bespoke chart analysis
MetaTrader 4 Multi-Terminal
- Similar interface to MT4
- Simultaneous management of multiple accounts
- A breadth of drawing and charting analysis tools
- Use a number of screens to track pending orders and live prices
MetaTrader 4 Supreme Edition
- Powerful trading tool for the more experienced traders
- Advanced pattern recognition technology
- Day trading strategy insights
- Technical analysis indicators
- Suitable for expert traders
MTrading WebTrader
- Range of risk management tools available such as stop outs
- Easy-to-use trade management tools
- Straightforward forex pip calculator
- Decent range of indicators
- No download required
Markets
Over 100 instruments and assets are offered for online investing, including 10 indices, over 65 stocks, 60+ majors, minors and exotics, as well as 10 commodities, including energies and metals. Whilst a reasonable range of products, cryptocurrencies, such as Bitcoin, are not offered. Binary options and futures are also not available. With that said, the needs of most online traders are met.
Spreads & Commission
The broker charges zero commissions on all instruments with the M.Premium account and $4 on each lot with the M.Pro account. MTrading offers typical floating spreads on popular pairs EURUSD (1.2 pips), USDJPY (1.4 pips), and GBPUSD (1.7 pips). Whilst not the lowest spreads in the market, the broker is transparent and breaks down fees in its contract specifications page.
Leverage
MTrading offers leverage up to 1:1000 with both the M.Premium and M.Pro accounts. These are high leverage levels that let traders seriously amplify their positions. On the downside, it also means investors can lose large sums if they do not use risk management tools.
Mobile Trading
The broker offers mobile trading across both M.Premium and M.Pro accounts. Available on iOS and Android (APK) devices, clients can access the full range of MTrading assets. Deposits and withdrawals can be requested through the mobile app, along with customer support and push notifications. The broker’s copy trading service, which lets users mirror the strategies of successful traders, is also available.
Payments
MTrading offers a decent list of deposit and withdrawal methods, including:
- Visa – 1.5% deposit fee, 1.5% withdrawal fee
- Mastercard – 1.5% deposit fee, 1.5% withdrawal fee
- Wire transfer – 0% deposit fee, 0% withdrawal fee
- Neteller – 0% deposit fee, 3% withdrawal fee
- Skrill – 0% deposit fee, 3% withdrawal fee
- Perfect Money – 1% deposit fee, 1% withdrawal fee
Processing times for credit/debit cards are typically instant, e-wallets are processed within 24 hours and wire transfer can take 1-3 working days. Fees may vary depending on the trader’s jurisdiction.
Demo Account Review
MTrading offers a demo account for prospective traders that operates in the same way as the live account, though trades do not affect the market. The trial account is a great place to start for investors looking to test the MT4 platforms and the broker’s copy trading service. Users are then free to sign up for a live account when they feel ready.
MTrading Bonuses
A flexible 200% deposit bonus is available with the MPremium account. MTrading also offers cashback at $1 for every lot traded for a fee of $99 per year. While incentives can look appealing, it’s important to check bonus terms and conditions before you sign up. Note, welcome bonuses may also change.
Regulation
MTrading (ServiceComsvg Ltd.) is registered with the Financial Services Authority of Saint Vincent and the Grenadines. Unfortunately, there is no strict regulatory oversight so the broker effectively operates without checks and balances. Negative balance protection is typically not available. This is a concern and we do not recommend opening an account with an unregulated provider.
Additional Features
The broker offers a range of educational resources to enhance the MTrading experience, these include webinars, financial seminars and tutorials. Perhaps the most useful extra service, however, is the broker’s copy trading service. You can copy the deals of other traders in a few simple steps. Head to the Trader ‘s Room, browse the list of signal providers with associated ratings and select the trader you’d like to follow. You can automatically copy trades or you can manually enter positions.
Note: MTrading does not offer a margin calculator.
Account Types
MTrading offers two retail trading accounts; M.Premium and M.Pro. Both account types offer the MT4 platform, mobile trading, access to expert advisors, market analysis, and extensive educational resources.
M.Premium
- Minimum deposit – $100
- Trading instruments – 100+
- Commission – not charged
- Leverage – up to 1:1000
- Execution type – STP
M.Pro
- Minimum deposit – $500
- Trading instruments – 25+ (forex and metals only)
- Leverage – up to 1:1000
- Commission – $4 per lot
- Execution type – ECN
MTrading also offers alternative investing accounts: PAMM: Money Manager, PAMM: Investor and CopyTrade: Investor. These accounts offer additional ways to increase returns and can be reviewed at MTrading.com.
Benefits
- Copy trading service
- 200% deposit bonus
- Transparent fee structure
- MT4 platform with add-ons
- Available in India, Malaysia and Nigeria
- Range of methods for deposits & withdrawals
Drawbacks
- Unregulated
- Poor customer reviews
- No access to MetaTrader 5
- Limited range of products, including no cryptos
- Not available in multiple countries, including the US and UK
Trading Hours
MTrading operates in EET. Trading hours vary by instrument but typically follow 01:00 – 00:00 Monday – Thursday, 01:00 – 23:00 Friday EET. Details on specific instrument trading hours can be found on the broker website.
Customer Support
The customer service team can be reached via:
- Phone– +357 220 241 66
- Email – support@MTrading.com
- Live chat – located in the bottom right-hand corner of any MTrading web page
Responses received from the live chat service were quick, helpful and the service is operated by a human rather than a bot. Personal contact details do not need to be provided to speak to the support team. The broker also offers an extensive FAQ section.
Security
MTrading is a member of the Financial Commission which settles disputes in the financial services industry and can protect client funds up to €20,000. Members of the Financial Commission must adhere to regulations, which include the segregation of funds. Additionally, the broker offers secure deposit and withdrawal methods while the MT4 platform uses strict encryption protocols and dual-factor login.
MTrading Verdict
The investing experience offered by MTrading is simple and straightforward. The broker’s website is easy to use and offers a number of resources, including demo accounts, deposit bonuses, and access to the MT4 platform. We particularly like the automated copy trading service. On the downside, MTrading is not regulated by a trustworthy agency and users must pay withdrawal fees before they can access profits. Overall, we’d recommend other brokers first.
Top 3 Alternatives to MTrading
Compare MTrading with the top 3 similar brokers that accept traders from your location.
- IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
MTrading Comparison Table
| MTrading | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| Rating | 2.8 | 4.4 | 4.3 | 4 |
| Markets | Forex, CFDs, indices, commodities | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $100 | $0 | $0 | $1 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | – | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | SVGFSA |
| Bonus | 200% deposit bonus with MPremium | – | – | 100% Deposit Bonus |
| Education | No | Yes | Yes | No |
| Platforms | MT4 | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | MT4, MT5 |
| Leverage | 1:25 | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:1000 |
| Payment Methods | 7 | 6 | 6 | 10 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Review |
Interactive Brokers Review |
World Forex Review |
Compare Trading Instruments
Compare the markets and instruments offered by MTrading and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| MTrading | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | No | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | No | Yes | Yes | Yes |
| Futures | No | Yes | Yes | No |
| Options | No | Yes | Yes | No |
| ETFs | No | Yes | Yes | No |
| Bonds | No | Yes | Yes | No |
| Warrants | No | Yes | Yes | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
MTrading vs Other Brokers
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Customer Reviews
4.6 / 5This average customer rating is based on 17 MTrading customer reviews submitted by our visitors.
If you have traded with MTrading we would really like to know about your experience - please submit your own review. Thank you.
Submit Your Own Review of MTrading
FAQ
Is MTrading regulated?
MTrading is unregulated and does not adhere to strict financial markets standards. This is a real drawback and we do not recommend signing up with unlicensed providers.
Does MTrading offer a deposit bonus?
MTrading allows traders to choose their bonus when depositing funds into the M.Premium account. This can range from 1% to 200%. Always check terms and conditions before signing up.
Is MTrading trustworthy?
Due to the lack of regulatory oversight, we are not comfortable recommending MTrading to our readers. There are also some concerning reviews online from customers.
Does MTrading offer a demo account?
Yes, the broker does offer a demo account. This is exactly the same as a live account but the volumes executed in the demo account don’t impact the market.
What trading hours does MTrading follow?
Trading hours vary by instrument but typically follow 01:00 – 00:00 Monday – Thursday, 01:00 – 23:00 Friday EET. See the broker’s website for more details.
My favorite learning method is reading… whether it is a book, articles or something else. I am not a fan of videos, which I must admit are getting trendy.
It is really hard to find a platform that provides high-quality reading materials. Try for yourself if you don’t trust me 🙂
This is why I recommend MTrading to all bookworms like me. They have tons of articles, ebooks and other reading materials. Here you can actually learn something.
Very good use of the MT4. The broker is one of the few that I have seen that takes the MT4, and then makes it more personalized and more effective for their traders. The MT4 supreme that the broker offers gives traders an extended reach when it comes to the tools offered.
And yes, the copy trading is also very nice for both the masters and the subscribers. It is a fair service and it is easy to get started.
This is a pretty unique broker which offers a lot of services, for instance, copy trading, different trading accounts, many financial instruments, bonuses and so on.
By the way, I liked copy trading and I wanted to try myself as a master which provides strategies to other traders and it was my first time doing it. So I contacted the support team and they explained to me clearly all the terms and conditions. Thanks to this my experience with copy trading was great.
Mtrading has captivated me by its reliability, guys have been working for slightly more than a decade and it’s cool.
Also, despite the fact I am an experienced trader I am used to read some articles published by them which help me to understand wat is happening in the market better.
The same applies to technical analysis outlooks, as recently, I read about GBP/USD regaining upside momentum and entered the positions setting TP slightly below resistance level. Quite a useful instrument.
Spreads are narrow here and I know that this is an indication of a good trading platform. I trade fx majors with ~1.2 pips and it’s ok, I almost don’t notice how they are charged, thanks.
I am satisfied with my choice of broker, but I must admit I was expecting it since I did a thorough research about MTrading before I opened an account with them.
If reputation were a currency, then MTrading would be the Bitcoin in the trading world:)
Established in 2012, these guys have never stopped improving it. They have great trading conditions but also have a reputation to back them up.
I firstly thought of getting into day trading with them, but then I noticed copy trading feature with a solid list of leaders and was like “huh, why not, since I could easily sit back anc relax while guys sweating in the market”.
Sure, I started to follow a guy with quite a cool performance and number of subscribers. So far things are going well, I have no complaints.
Platform is robust!
It was not easy to choose trading account that suits me the most. But it was easy to open, register and verify this account.
This is one of the best brokers that give welcome deposit bonuses for traders generously. As I am a beginner and I didn’t have a big deposit. It was quite hard to start trading with small capital but then I came across Mtrading and saw that they offer a deposit bonus up to 50% and I was amazed. I made a deposit of 400$ and got another 200$ like bonus and I was so happy. That’s why I decided to work with them, it was a good start of trading.
MTrading is a good broker with acceptable spreads. DIfferent ways to fund account and withdraw money as well.