Overview of Metafxcoin
Metafxcoin, established in 2019 with its headquarters in the United States, has positioned itself as an enticing trading platform within the financial markets. The platform boasts a comprehensive range of tradable assets, allowing traders to diversify their portfolios across various asset classes, from popular cryptocurrencies to traditional forex pairs. Notably, Metafxcoin offers access to both the MetaTrader 4 and MetaTrader 5 platforms – two of the most acclaimed trading platforms in the industry known for their advanced features and user-friendly interfaces. However, despite its promising offerings, Metafxcoin has raised eyebrows in the trading community due to concerns about its regulatory status. Claims of regulation have been overshadowed by suspicions of cloned license numbers, making it imperative for potential traders to exercise due diligence when considering this platform.
Is Metafxcoin Legit？
Metafxcoin is not regulated. Although the broker claims to be regulated by various entities such as IrelandCBI, AustraliaASIC, South AfricaFSCA, and JapanFFAJ, it's important to note that these claims are suspected to be misleading. Specifically, the license numbers provided for these regulatory entities, including C53877 for IrelandCBI, 406684 for AustraliaASIC, 45984 for South AfricaFSCA, and 1574 for JapanFFAJ, are believed to be cloned and not genuine. Potential traders and investors should exercise caution and be aware of the associated risks when dealing with unregulated or misleadingly regulated brokers.
Pros and Cons
Metafxcoin, with its comprehensive range of tradable assets and access to renowned platforms like MT4 and MT5, showcases a promising trading environment. The platform's commitment to versatility is evident in its diverse account types and advanced trading tools that aim to cater to traders with varied needs. However, these strengths are juxtaposed with significant concerns. The lack of genuine regulation and suspicions of cloned license numbers cast doubts over its credibility. Furthermore, traders might find the commission fees and potential hidden charges a deterrent in their trading journey. In sum, while Metafxcoin offers robust trading amenities, potential clients should tread cautiously, considering its regulatory ambiguities and fee structures.
Trading Instruments
Metafxcoin offers a diverse range of over 100 trading instruments, providing traders with various options to build and diversify their portfolios. These instruments encompass different asset classes, including:
1. Cryptocurrencies: Traders can access a selection of cryptocurrencies, allowing them to speculate on the price movements of digital assets like Bitcoin, Ethereum, and more.
2. Indices: Metafxcoin provides trading opportunities in major global stock indices, enabling traders to participate in the performance of entire markets.
3. Forex: The forex market offers a wide array of major, minor, and exotic currency pairs for traders to engage in foreign exchange trading.
4. Energies: Traders interested in energy commodities can explore trading opportunities in assets such as crude oil and natural gas.
5. Shares: Metafxcoin allows traders to invest in shares of public companies, including those from various regions such as the US, UK, and Europe.
6. Options: Options contracts on various assets are available, providing traders with flexibility in their trading strategies, including hedging and speculative positions.
7. ETFs (Exchange-Traded Funds): ETFs offer traders the ability to invest in diversified portfolios or focus on specific market sectors or themes, adding versatility to their trading strategies.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
Metafxcoin offers a range of account types designed to accommodate different trading preferences and capital levels. Here's a brief overview of the available account types:
1. Starter Account: This account type is suitable for traders looking to start with a minimum investment of $1,000 and offers a maximum investment limit of $5,000. Traders can earn an 80% return with this account over a specified period.
2. Bronze Account: With a minimum investment of $10,000 and a maximum limit of $30,000, the Bronze Account provides an 80% return on investment within 7 days. It caters to traders seeking slightly higher investment opportunities.
3. Silver Account: The Silver Account is designed for traders with a minimum capital of $15,000 and a maximum investment limit of $50,000. It offers an 80% return on investment over 7 days.
4. Gold Account: Traders who can invest a minimum of $20,000 and up to a maximum of $100,000 can opt for the Gold Account. It provides an 80% return on investment within a 7-day timeframe.
5. Platinum Account: For those with a larger capital base, the Platinum Account offers a minimum investment requirement of $50,000 and a maximum limit of $500,000. It also provides an 80% return within 7 days.
6. Diamond Account: The Diamond Account is designed for high-net-worth individuals and experienced traders. It requires a minimum investment of $100,000, with a maximum investment cap of $1,000,000. Like other accounts, it offers an 80% return on investment in 7 days.
How to Open an Account？
To open an account with Metafxcoin, follow these steps.
Visit the Metafxcoin website. Look for the “Sign up” button on the homepage and click on it.
2.Sign up on websites registration page.
3. Receive your personal account login from an automated email
4.. Log in
5.. Proceed to deposit funds to your account
6. Download the platform and start trading
Leverage
Metafxcoin offers varying levels of leverage depending on the trading instrument, allowing traders to manage their risk and exposure effectively. Here's a brief overview of the leverage available for different instruments:
Cryptocurrencies: When trading popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and EOS, traders can access leverage of up to 100 times their initial investment. This can amplify both potential profits and losses, so it's crucial for traders to use leverage judiciously in cryptocurrency markets.
Forex Pairs: For currency pairs like EUR/USD, Metafxcoin offers high leverage of up to 1000 times the initial investment. Such high leverage can magnify movements in the forex market, providing opportunities for traders but also increasing risk.
Stock Indices: Popular stock indices like the S&P 500 and Japan's stock index can be traded with leverage of up to 100 times the initial capital, allowing traders to gain exposure to broad market movements.
Commodities: Precious metals like Gold and commodities like Crude Oil can be traded with substantial leverage of up to 5000 times the initial investment. This high leverage can make these markets attractive for traders seeking significant exposure.
It's essential for traders to understand the implications of leverage and use it cautiously, as it can significantly impact their trading outcomes. While it can amplify profits, it also magnifies potential losses, making risk management strategies vital in leveraged trading. Traders should consider their risk tolerance and experience level when choosing the appropriate leverage for their trades.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
Metafxcoin offers a variety of spreads and commissions on its trading platform. The spreads for major currency pairs are typically very low, ranging from 0.1 to 0.3 pips. For minor currency pairs and exotic pairs, the spreads may be slightly higher.
Metafxcoin charges a commission on all trades. The commission is a percentage of the trade volume, and it varies depending on the account type. For example, the commission for standard accounts is 0.01% per side, and the commission for ECN accounts is 0.02% per side.
Deposit & Withdraw Methods
Metafxcoin offers a variety of deposit and withdrawal methods, including:
Bank Wire Transfer: Bank wire transfers are typically the slowest deposit and withdrawal method, but they are also the most secure. Metafxcoin does not charge any fees for bank wire transfers.
Credit/Debit Card: Credit and debit card deposits are typically processed instantly, but Metafxcoin charges a 3% fee for credit/debit card deposits.
Cryptocurrency: Metafxcoin accepts a variety of cryptocurrencies for deposit and withdrawal, including Bitcoin, Ethereum, Litecoin, and Tether. Metafxcoin does not charge any fees for cryptocurrency deposits and withdrawals.
Trading Platforms
Metafxcoin offers two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are popular among forex traders and offer a wide range of features, including:
Technical analysis tools: MT4 and MT5 offer a variety of technical analysis tools, including charts, indicators, and oscillators. These tools can help traders to identify trends and patterns in the market.
Order types: MT4 and MT5 offer a variety of order types, including market orders, limit orders, and stop-loss orders. These order types allow traders to control their risk and take profits.
Automated trading: MT4 and MT5 support automated trading through the use of Expert Advisors (EAs). EAs are computer programs that can automatically execute trades based on pre-defined rules.
Customer Support
Metafxcoin provides customer support through various channels to assist traders with their inquiries and concerns. Here's a brief overview of their customer support options:
Live Chat: Traders can engage with Metafxcoin's support team in real-time using the live chat feature. This allows for quick and convenient communication, making it suitable for addressing urgent questions or issues.
Contact Form: The platform offers a contact form where traders can fill in their name, email, and message to reach out to the support team. This method provides a structured way to submit inquiries and receive responses via email.
Email: Traders can contact Metafxcoin via email at info@Metafxcoin.com. Email communication allows for detailed and documented exchanges, making it suitable for complex inquiries or requests.
Trading Tools
Metafxcoin offers a range of trading tools designed to enhance the trading experience and assist traders in making informed decisions. Here's a brief overview of these trading tools:
Technical Analysis Tools: Metafxcoin provides traders with essential technical analysis tools, including four chart types and eight indicators. These tools allow traders to analyze price movements, identify trends, and make data-driven trading decisions. Additionally, the inclusion of trend lines helps traders in spotting potential entry and exit points for their trades.
Social Trading: Metafxcoin offers a social trading feature that enables traders to observe and even participate in deals taking place around the world. This feature allows traders to gain insights into the strategies of successful traders and potentially replicate their trades. Moreover, traders can connect and trade with friends, fostering a sense of community and collaboration within the platform.
Conclusion
Metafxcoin provides a plethora of trading options, supporting traders with different assets and account types. The platforms interface is user-friendly, facilitated by the renowned MT4 and MT5 platforms, making it accessible for both novice and experienced traders. However, the significant concern lies in the suspected cloned regulations, which considerably risk the safety and security of funds, necessitating traders to approach with caution and conduct thorough due diligence before engagement.
FAQs
Q: Is Metafxcoin a regulated entity？
A: The broker claims regulation, but these are suspected to be cloned and not genuine, raising concerns about its legitimacy.
Q: What platforms does Metafxcoin offer for trading？
A: Metafxcoin provides MetaTrader 4 and MetaTrader 5 for trading.
Q: What is the minimum deposit for Metafxcoin？
A: The minimum deposit starts at $1,000 for a Starter Account.
Q: What trading instruments are available on Metafxcoin？
A: The platform offers cryptocurrencies, indices, forex, energies, shares, options, and ETFs.
Q: What types of accounts does Metafxcoin offer？
A: They offer Starter, Bronze, Silver, Gold, Platinum, and Diamond accounts.
