Brief Understanding Of MForex
MForex Is The Brokerage Division Of MBank, A Banking Group Registered In Warsaw. More Than 300,000 Traders Use Its Services, And Residents Of Poland And Other Countries Benefit From Its Products. The Parent Company's Operations Are Regulated By The KNF (Komisja Nadzoru Finansowego), And Client Assets Are Guaranteed By The Bankowy Fundusz Gwarancyjny Compensation Fund. MForex Allows Trading Of 40 Currency Pairs, As Well As Indices, Bonds, Metals And Commodities In CFD Format. It Contains Automated Trading And Other Popular Strategies. MForex, Recognized As The Best Broker At Invest Cuffs Conferences In 2019 And 2020, Stands Out For The Following Reasons.
Advantages Of Trading On MForex:
Reliability Of The Parent Company, Operating Under The Supervision Of The National Regulator KNF;
Modernized MetaTrader 4 Platform With Support For The MQL Programming Language;
STP Execution Of The ECN Network For Forex And All Other Types Of Trading Instruments;
Low Spreads For Currency Pairs Starting From 0.2 Pips And Low Transaction Fees;
No Restrictions On Automated Trading And Hedging;
Instant Order Execution Without Re-quoting;
Focus An Excellent Source Of Market Research And News On The Foreign Exchange Market.
Disadvantages Of MForex:
Traders Need To Deposit At Least PLN 2,000 To Start Trading;
The Broker Does Not Offer Popular Investment Solutions Such As PAMM Or MAM Accounts, Partnerships Or Bonus Schemes;
Trading Is Not Available On More Advanced Platforms Such As MetaTrader 5 And CTrader.
Trading Account Opening
It Takes No More Than 15 Minutes To Create An Account On The MForex Website. The Relevant Procedures Are As Follows.
1 To Create The Account Creation Process, Click "Otwórz Rachunek" (Open An Account).
2 Follow-up Operation Depends On Whether You Have An MBank Or MForex Account. The TU Expert Selected The Third Option From The Available List To Start The Registration Process From The Beginning.
3 Next, Explain The Method Of Confirming Personal Data - Manually Or Using The EDO Application.
4 Individuals Must Upload 2 Identification Documents And Confirm The Bank Account Number. When Opening A Counter Account, There Is No Need To Provide Your Taxpayer Identification Number (NIP). The Agent Only Requests The PESEL Number. Documents Do Not Have To Be Uploaded Online, As You Can Take Them To The MForex Office. After The Documents Are Verified, The Account Will Be Opened.
Account Type
To Start Trading With MForex, Open A Standard Account And Deposit A Minimum Of PLN 2,000. Traders With A Minimum Position Squaring 200 Lots In The Previous Month Can Upgrade To A VIP Account. Standard And VIP Accounts Have The Same Spread Level And Leverage Of Up To 1:30. These Accounts Differ In Terms Of Trading Fees And Additional Features.
Account Type:
Standard
Basic ECN Account Is Suitable For Beginners And Experienced Traders. The Fee For Currency Pair Trading Is 0.0035%. Group Training And Standard Support Are Provided;
VIP
Account With Fee Reduction (0.0027%), Access To Personal Training, And Access To Personal Manager Support. Designed For Active Traders With High Trading Volumes And With Professional Capital Management Methods.
Before Using A User Account, You Can Open A Demo Account On The MT4 Platform With A Virtual Deposit Of PLN 100,000.
MForex Standard Account Is Suitable For Both Experienced Traders And Novice Traders Due To Its Low Fees And The Ability To Trade Micro Lots.
Deposits And Withdrawals
Withdrawal Requests Made Through The MBank App Will Be Processed Within 45 Minutes Of The Working Hours Of The Finance Department (Monday To Friday 8:00 To 17:30 (GMT + 1));
Earned Income Can Only Be Withdrawn To An Individual (validated By Statement) Bank Account Or Exchange Account. MForex Prohibits Electronic And Cryptocurrency Payments;
Bank Accounts Can Be Opened In Poland Or Abroad. When Using An MBank Account, A Commission Of PLN 200 Is Charged If The Requested Amount Is Less Than PLN 5. Large Withdrawals Will Be Processed Free Of Charge.
Withdrawals To Accounts At Other Banks In Poland Are Charged PLN 10. The Fees For International Transfers Follow The Bank's Tariff Schedule.
Investment, Options
Brokerage Firm MForex Has Revamped The MetaTrader 4 Trading Platform By Integrating The Revised Version Into Its Proprietary Platform. Despite This, MForex Trader, Like The Original MT4, Supports Automated Trading And The MQL Programming Language. This Allows Both Novice And Experienced Market Participants To Develop A Convenient Passive Money-making Model That Reduces The Need For Active Trading Of Financial Instruments And Even Eliminates Manual Trading When Needed.
Automated Trading In MForex:
MQL (MetaQuotes Language) Is Available In Two Versions: MQL4 Is Designed For Use In The MetaTrader 4 Platform, While MQL5 Is Suitable For MetaTrader 5. Robots And Advisors Written In MQL Can Automate Trading Operations For Strategy Testing And Optimization As Well As Market Analysis. MQL Provides A Wide Range Of Functions And Libraries For More Complex Algorithmic Trading Programming.
With MQL, The Following Types Of Programs Can Be Created:
Custom Indicators For Market Analysis. Once Created, These Indicators Can Be Added To The Basic Indicators Built Into The MT4 Trading Platform;
Scripts For Performing Specific Actions According To Predefined Algorithms. For Example, A Trader Can Write A Program To Close Specific Or All Trades When A Set Price Level Is Reached;
Expert Advisors (EAs). These Programs Can Fully Automate The Trading Process, Involving Not Only Market Analysis But Also Order Management, Without The Need For Trader Intervention.
MForex's Trading Platform Is Compatible With Programs That Use The Market Execution Mode. The Broker's Website Contains Links To Resources About MQL Programming For Beginners, Including The Largest Forex Forum In Poland. Traders With VIP Status Can Seek Assistance In Installing And Configuring Advisors And Trading Robots From Their Account Managers.
MForex's Partner Program:
MForex Does Not Employ Marketing Strategies That Involve Rewarding Existing Clients For Introducing New Traders Or Partners. The Growth Of The Customer Base, Improved Branding Impressions And Increased Interest Of Wold-be Users Are Driven By Improved Trading Conditions And The Active Performance Of The Company In Social Media And Financial Marekt Activities.
Customer Support
Hotline Support Is Available 24/5 On Weekdays. The Office In Warsaw Is Open From 9:00 To 17:00 (GMT + 1). Email Support Is Available From Monday To Friday From 7:00 To 22:00 (GMT + 1).
