Score
MedFX
South Africa|5-10 years| https://medbondforex.com/
Website
Rating Index
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Licenses
Licensed Institution：MEDBOND INSURANCE BROKERS (PTY) LTD
License No.：48544
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
South Africa
5-10 years Suspicious Regulatory License Suspicious Scope of Business South Africa Financial Service Corporate Revoked Suspicious Overrun High potential riskAccount Information
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Website
medbondforex.com
Server Location
United States
Website Domain Name
medbondforex.com
Server IP
185.244.215.189
Company Summary
General Information & Regulation
MedFX was established in 2013 by a group of investment bankers and insurance team to provide investors with market trading services. MedFX is authorized and regulated by the FSCA in South Africa, regulatory Number: 50113. However, this license is suspected to be over-limit operation.
Market Instruments
Tradable financial trading assets MedFX offers to investors include forex currency pairs, spot metals, CFDs, and indices.
MedFX Minimum Deposit
To meet the needs and trading experience of different investors, MedFX offers three different types of trading accounts: Standrad, Professional, and Privilege. The minimum deposit to start the Standard account is $500, much higher than sector standards. Most brokers only requires an initial deposit of $100-$200.
MedFX Leverage
When it comes to the trading leverage, the maximum trading leverage offered by MedFX is up to 1:200. Inexperienced traders are not advised to use high leverage in case of heavy fund losses.
Spreads & Commissions
Spreads and commissions vary from different account types. The spread on EUR/USD pair start from 1.6 pips, same as that in the Privilege account. The spread on the EUR/USD pair in the Professional account is from 1.2 pips, no additional commissions charged for forex trading on these three accounts.
MedFX Trading Platform
MedFX offers traders the most popular trading platform on the market today, MT5, as well as MT5 Web, Desktop, Android, and iOS versions. MT5 offers more powerful features than MT4, in addition to better functionality and trading features than many other online trading platforms available today. With MT5, MetaQuotes software increases the number of available technical analysis tools and provides more charting and timeline options. Problems such as limited types of pending orders and the inability to separate or quickly ask/purchase with a few clicks have been eliminated, and trading is made easier and smoother with the additional for-traders feature.
Deposit & Withdrawal
MedFX supports traders to deposit and withdraw funds to their investment accounts via wire transfer, CoinPayments, Bitcoin Payments, Neteller, and Rapyd payment methods.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- South Africa Financial Service Corporate Revoked
- Suspicious Overrun
- High potential risk
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