Let's start here:
Mohicans Markets, a relatively new broker, has caught the eye of many investors. They offer a wide range of trading instruments, different types of trading accounts, and even a demo account. Their spreads start from an impressive 0.0 pips. While this suggests a promising trading environment, it's important to verify if this is indeed the case with Mohicans Markets. Let's dive in and learn more.
Mohicans Markets Information
Founded in 2021, Mohicans Markets is a foreign exchange and CFD broker providing trading services in foreign exchange, precious metals energy, indices, cryptocurrencies to its clients in 150 countries around the world.
Pros and Cons
Mohicans Markets, though relatively new, provides an extensive selection of trading instruments and supports the MT5 platform. While it offers a friendly minimum deposit for the Standard account, its regulatory framework is weak, and there's room for improvement in providing deposit and withdrawal details. Nevertheless, the broker compensates with advanced trading tools like Copytrade, PAMM, and VPS services to elevate the trading experience.
Is Mohicans Markets legit？
Mohicans Markets is registered with the ASIC in Australia under regulatory number 659247177, holding a license of Common Business Registration. The Common Business Registration (CBR) is a single registration that allows businesses to comply with multiple regulatory requirements in Australia.
Mohicans Markets Minimum Deposit
When it comes to opening a real trading account on the Mohicans Markets platform, like the standard account, only requires $50 minimum deposit. This is quite appealing because many reputable brokers typically require around $100 to begin your real trading journey. Therefore, this broker's lower minimum deposit can certainly catch the attention of investors.
Here's a comparison table of Mohicans Markets' minimum deposit with other brokers:
Market Instruments
With Mohicans Markets, traders can get access to a wide range of trading instruments, including forex pairs, indices, energy, precious metals, index CFDs, digital currencies.
Account Types
Regarding live accounts, three options are on offer: STD, ECN, and PRIME, classified based on trader types.
The Standard account asks for a moderately low deposit from $50, allowing trading on both MT4 and MT5, and come with a generous leverage up to 500:1. Overall, this account fits beginners more.
The ECN account is more suitable for experienced traders, requiring a muchhigher minimum deposit of $1,000, and it also allows trading on MetaTrader 4 &5, offering the same leverage up to 500:1 as the STD account.
The Prime account targets experienced traders as well. However, it only requires $100 to start real trading, providing access to MetaTrader 4&5 trading yet with a higher leverage option up to 1000:1.
Mohicans Markets Demo Account
Certainly, Mohicans Markets recognizes the importance of providing accessible opportunities for traders at all levels of experience. To this end, the platform offers demo accounts that mirror the conditions of their live counterparts across various account types, allowing beginners to practice trading with virtual money in a realistic market setting, improving their trading skills.
How to open an account？
Opening an account with Mohicans Markets is simple：
- Go to the Mohicans Markets website at https://www.mohawksmarkets.com/, then, click on the “Register” button.
2. You will be asked to provide some basic information, such as your name, email address, phone number, and country of residence.
- You will also be asked to create a username and password.
- Once you have submitted your information, your account will be created.
- You will then be able to fund your account and start trading.
Leverage
With Mohicans Markets, traders can enjoy the maximum leverage up to 1:400. Although traders can have the chance to make a fortune in the forex market thanks to leverage, it can also cause serious losses, especially to inexperienced traders.
Spreads & Commissions
Spreads differ based on the type of account you have. The STD account has the widest spreads, starting at 11 pips for the EUR/USD pair. Meanwhile, the STP account provides narrower spreads, beginning at 11 pips, and the ECN account offers the tightest spreads, starting from 0 pips.
Trading Platforms
When it comes to trading platforms, Mohicans Markets provides its clients with access to multiple popular trading platforms, MetaTrader 4 & MetaTrader 4 Web, MetaTrader5 and MetaTrader5 Web. These platforms are versatile, allowing you to download them on various devices like PCs, Apple computers, mobile phones, and tablets, enabling you to trade whenever and wherever you prefer. MT5 supports more than 30 languages for your convenience.
Trading Tools
In addition to MT5 trading platform, Mohicans Markets provides a range of helpful trading tools to help traders get comfortable with forex trading quickly. These tools include Copytrade, PAMM, VPS Dedicated Server, and an Economic Calendar.
Customer Support
Mohicans Markets offers 7/24 customer support and they can be reached through three global offices in the United Kingdom, Australia and Dubai respectively. Mohicans Markets client service team supports multiple languages, and you can talk to them directly online. You can also follow this broker on some social media platforms including Facebook, Twitter, Instagram, Linkedin, Youtube.
Conclusion
In conclusion, Mohicans Markets offers traders a wide array of trading instruments, bolstered by the support of the MT5 platform, although it's important to note that this broker is relatively new to the market. Notably, they extend a welcoming minimum deposit option for their Standard account, yet the absence of detailed deposit and withdrawal information is a concern. On a positive front, they provide access to demo accounts for skill honing, coupled with an arsenal of advanced trading tools like Copytrade, PAMM, and VPS services to enhance the overall trading experience. However, it's worth mentioning that the broker falls short in providing strongly regulated trading environment, as its regulatory oversight is comparably weaker.
FAQs
What is the maximum leverage offered by Mohicans Markets？
Mohicans Markets offers leverage of of up to 1:400
What live accounts can I choose from with theMohicans Marketsplatform？
Mohicans Markets makes three real trading accounts available, STD, STP and ECN accounts.
What does Mohicans Markets have on offer？
Mohicans Markets provides access to forex pairs, indices, energy, precious metals, index CFDs, digital currencies.
What trading platfrom does Mohicans Markets offer？
Mohicans Markets provides both MT4 & MT5 trading platforms.
Does Mohicans Markets provide traders with educational resources？
Unfortunately, Mohicans Markets does not provide any educational and research tools for its clients.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.
FX1131991291
Thailand
The broker shut down the EA on MT4, causing the EA to be unable to continue working. The broker asked me to move to MT5 to continue running the EA because my orders were still not claimed, causing damage to the portfolio and reliability.
Exposure
02-27
FX8590950252
Thailand
Brokerage system malfunctions, causing a large number of orders to be issued, causing damage to the client's portfolio.
Exposure
02-27
Chris 劉穅銘
Malaysia
Deposit and withdrawal speed is excellent, and the spread fee is also low. Customer service support is fast. It would be even better if there is business in Malaysia.
Neutral
2024-07-19
FX1497620432
United Kingdom
MHMarkets offers a diverse range of trading options which are really attractive for traders like me looking for variety. While the platform is generally user-friendly, I've found that you need to stay sharp about their swap calculations. It's definitely worth taking the time to understand fully before diving in.
Neutral
2024-06-21
Johan de Vries
Netherlands
So, I decided to give Mohican Markets a shot. I started off on their demo account, you know, to test the waters. It was a breeze – got to play around, try different strategies, and all that jazz without risking real money. The demo platform was smooth, and I felt like I was getting the hang of things. I even scored a few "virtual" wins to boost my confidence. But then came the moment when I thought, "Alright, time to dive into the real deal." So, I wanted to switch to a live trading account. And that's where things got a bit tricky. The transition wasn't as seamless as I'd hoped. There were some hoops to jump through, verification processes, and all that jazz.
Neutral
2023-10-09
FX1727978847
South Africa
They are so very customer oriented. They dont ask fees for everything like others. Withdrawals are never delayed. Free vps server service is appreciated. I am so satisfied. For usdtry, usdzar, etc., I wish they didnt ask fee for carrying a trade more than 3 days.
Positive
2024-07-15
FX1497364927
Colombia
Reliable trading platform with quick execution and solid customer support. The variety of trading products is impressive, and the educational resources have really helped me improve my strategies
Positive
2024-06-21
Septian Putra
Indonesia
I have nothing but praises for their execution speed - as quick as lightning.👍
Positive
2023-10-09
Josey Reyes
Philippines
MMarkets rocks! Lightning-fast withdrawals, super low fees, and top-notch support. Smooth trading all the way. 🚀👍
Positive
2023-10-09
Niko.
Malaysia
Mohicans Markets， Great... Mohicans Markets, I must say, they've been great. Let's talk spreads first – they're pretty darn tight, especially when I'm trading major forex pairs like EUR/USD and USD/JPY. It's awesome because it means I'm not losing too much to trading costs. Their MT5 platform is my jam. It's super easy to use, and it's a breeze to place trades and analyze charts. And trust me, I've tried a bunch of platforms, but this one stands out. Now, the real deal – withdrawals. I've never had to wait too long for my money. That's crucial when you're in the trading game. You want your profits, right? Customer service is friendly and knows their stuff, they're 24/7. Whenever I've had questions, they've been quick to help.
Positive
2023-09-13
攻城略地
United Arab Emirates
I switched to Mohicans Markets after having a bad experience with another broker, and I am glad I did. I love this broker’s low spreads, stable trading platform, as well as responsive support.
Positive
2023-02-27
汇海扬帆GO
United States
Overall, it is a very good platform, with safe funds, low transaction costs, and high service quality. It will be even better after the transaction environment is optimized. Towards a better life, gathering the power of life, MH Maihui, looking forward to meeting you.
Positive
2022-12-01
爱亲母婴
Venezuela
I am very happy to share my opinion about Mohicans Markets with you! It is effectively regulated by ASIC. I like its leverage, up to 1:400, which allows me to trade more positions. The minimum deposit is only $50, which allows more people to try it out.
Positive
2022-11-23