Open Account FAQs
- How do I open a forex trading account with MFFX?
- How much is the minimum to open an online forex trading account?
- Are there any service fees when funding the online forex trading account?
- When can I start trading once I fund the account?
- How can I withdraw my money?
- Does MFFX charge any commissions or fees?
- If I fund the account with Multiple Sources (Credit Card or Bank Wire) can I withdraw to any sources as well?
- Does this mean I can withdraw fund via wire transfer if my deposit is via money processors such as credit card?
- Is MFFX Trading system adhering to Islamic Shariah Law?
About MFFX FAQs
- Will my funds on deposit be safe?
- Is MFFX license to deal in forex?
- Where do MFFX rates come from?
- What are the benefits investing in offshore jurisdiction?
- What is your minimum system requirement to run the MF MetaTrader 4 platform?
- What is the difference between a demo and a live forex trading account?
- What currency pairs can I trade with MFFX?
- What are the maximum lots for each forex trade?
- Can I call the live operators for any account related issue?
- What are MFFX trading hours?
- What should I do when I could not login to the trading platform?
- What happen if I could not perform trade via the platform?
- What should I do if I forget my password?
- Can I execute trade if I do not have access to computer or internet?
- What About Terms Like “Bid/Ask”, “Spread”, And “Rollover”?
- The default setting of the trading platform is 1 standard lot and insufficient usable margin message pops up once I try to place order. How can I place a mini lot trade when my usable margin is below $500?
- Do MF MetaTrader 4 platform experienced slower automatic order execution during a news release?
- I am a money manager managing more than 100 accounts trading the Forex & CFDs market. Does your trading platform supports multiple accounts?
- On your forex trading platform one may enter the market in several ways market order buy or sell at market price; limit buy or sell or stop buy or sell; I’m not sure what the difference of these two, limit buy or sell an stop buy or sell is or when I should use them Can you please explain?
- How can I hedge a position(s)?
- I registered for a forex demo account and do not get any login information via email.
- How to work behind the firewalls?
- Does MF MetaTrader 4 runs on Windows Vista, XP and 7 operating system?
How do I open a forex trading account with MFFX?
It is easy to open a forex trading account with MFFX. There are two ways. You can either apply online OR download the necessary forms and fax to us.
- Individual or Joint Account Holders
Either you apply online or via fax, please fax us a copy of photo identification form.
Please include a copy of partnership agreement and a copy of one form of identification for the beneficial owners.
- Corporation / Institution
Please include a signed copy of corporate resolution, articles of incorporation and a copy of one form of identification for the beneficial owners. Be sure to affix the corporate seal of the Corporation.
- Individual or Joint Account Holders
Fund Your Account
There are three easy ways to fund your account:
- Wire Transfer
- Credit Card
Inform us using the deposit form.
How much is the minimum to open an online forex trading account?
There is a minimum of USD$2000 to open a Standard Forex trading account and a minimum of USD$100 to open a Mini Forex Trading account.
Are there any service fees when funding the online forex trading account?
MFFX DOES NOT charges any service fee when funding your mini forex trading account via bank wire transfer or credit card. The Bank might charge a very minimum (usually at fix USD$10) inward remittance fee for wire transfer depending on the source of fund.
When can I start trading once I fund the account?
Usually within 24 hours. MFFX will email you a username and password once our account is verify and funded. An instruction to download the trading platform and phone numbers of live dealer will be provided in case you have no access to computers or internet connections.
How can I withdraw my money?
Please fill up a withdrawal form and fax it to any of the listed fax numbers. Withdrawal process usually takes less than 3 working days. Fund could be sent to clients via bank wire transfer or credit card depending on the source of deposits. Bank service charge applies on either methods. Bank wire transfer charge a minimum of USD$40 for each wire. If deposits were funded using credit card, withdrawal might be processed by crediting to the same credit card or bank wire with a minimum fees of the withdrawal amount. This fee is charge by the credit card processor; not by MFFX. All positions in the account need to be closed before partial or full withdrawal.
Does MFFX charge any commissions or fees?
MFFX offers two choices of forex trading platforms. There is no commission on our Metatrader platform however there is commission charge of USD30 per million USD traded on our MF cTrader ECN trading platform. Metatrader platform offers a minimum of 2 pips on the major currency pairs and 0.6 pips minimum on the ECN forex platform. There is a small cost of holding positions overnight. Please see interest page.
If I fund the account with Multiple Sources (Credit Card or Bank Wire) can I withdraw to any sources as well?
For multiple deposits from different sources, it depends on the deposit amount as there are investors who abuse the system where they treat MFFX as digital currency exchanger. Traders are not allow to deposit using one source and withdrawal using different sources other than bank wire transfer. Our system is very efficient where we can track all incoming deposits. For example, if a trader deposits $1000 via credit card, he/she can only withdraw $1000 plus the profit via credit card or bank wire for both. Bank wire is the default method for withdrawing. MFFX reserved the right to fund withdrawal via Bank wire other than using money processors. For bank wire transfer, MFFX do not charge any fee. The Bank will charge a minimum wire transfer fee of $40 and up depending on the destination and wire amount.
Does this mean I can withdraw fund via wire transfer if my deposit is via money processors such as credit card?
Yes except for Credit Card depositors. Account holders who deposit via Credit Card can withdraw fund by only funding it back to the Credit Card account unless the deposit is made for more than 180 days. The reason for 180 days is because of the security rules with Credit Card company. Any deposit that is less than 180 days has to withdraw via funding back to credit card unless management approval.
Is MFFX Trading system adhering to Islamic Shariah Law?
Yes. MFFX offers Swap Free Forex and CFDs trading account upon request. The account will be set up as interest free and Forex & CFDs trading account. Please notify us during submitting of your application so that we will place your account under the Islamic Shariah Law account. Please click here for Swap Free Forex Trading complete information.
For standard cost of carry or premium charges, please click here.
Will my funds on deposit be safe?
Safety of Clients’ funds is the utmost important factor in the financial industry. The question of safety of fund arises frequently and that is why MFFX take extra steps into choosing the very best offshore banking facility to park clients’ deposit fund and never commingle with MFFX operating capital. MFFX maintain a strong balance sheet with net capital in access of most minimum regulatory requirements for securities brokers and futures dealers.
Is MFFX license to deal in forex?
Yes. MF Financial Ltd. is incorporated in Belize with license issue by the International Financial Services Commission. MFFX is authorized to offer futures, securities, and foreign exchange trading as a broker and consultancy.
Where do MFFX rates come from?
Real-time quotes are fed from our provider from major banks, allowing investors to view up-to-date information. All online forex trading operations are performed in real-time, including trade capture, client portfolio update, and risk analysis. Such an approach means that in managing risk, all transactions up to the second are taken into account.
What are the benefits investing in offshore jurisdiction?
MFFX incorporated in Belize which offers one of the best offshore infrastructures in the world. Invest offshore helps to keep your private and business affairs away from public eyes in an offshore jurisdiction. Another benefit is Asset Protection. Offshore investments will secure your assets against possible future claim in your home country. And off course, offshore jurisdiction provides better tax incentives and benefits.
What is your minimum system requirement to run the MF MetaTrader 4 platform?
What is the difference between a demo and a live forex trading account?
The only difference between a demo and a live trading account is a demo account deals with virtual money whereas a live forex trading account deals with real money. Demo trading platform provide real trading experience with no capital risk.
What currency pairs can I trade with MFFX?
What are the maximum lots for each forex trade?
At the moment, our trading platform could take up to 200 lots at one execution. If you need a higher limit, please contact us at admin
Can I call the live operators for any account related issue?
Yes. You can contact live operators 24-hour a day for any product or account related issue. You will be transfer to available customer service/product specialist personnel to help you in any product or account related issue. If there are no personnel to help you, please leave your name, number and message with the live operator and a product specialist will get back to you promptly. Live operators DO NOT execute forex trade. For forex dealing, please call our dealing desk.
What are MFFX trading hours?
What should I do when I could not login to the trading platform?
There is almost zero possibility that you could not login to your forex trading platform during market hour because MFFX trading facility is back up by state of the art data centers located in different part of the world. There is zero down time since its inception. It is possible that you could not login during non-trading hour where our servers are under maintenance to prepare for the next market reopen. Our trading facility has multiple high performance servers which could handle huge amount of orders at one time.
What happen if I could not perform trade via the platform?
In some circumstances but very rarely where there is major market intervention and huge price fluctuation, it is almost impossible to execute at the quote you want. Please report the problem to admin
What should I do if I forget my password?
Please email admin
@mffx.com and provides us your account username. After verification, we will email your password to you.
Can I execute trade if I do not have access to computer or internet?
Yes. You can call the dealing desk to execute trades, but bear in mind that MFFX is an online forex trading company and we prefer client to use our state of the art trading platform to execute trades. This could minimize our overhead cost and in turn the saving will pass to the clients. Just a reminder, the dealing desk is strictly for dealing only. Dealers will not entertain any product or account related issues. Any matter that could solve via email, client is encouraged to contact us at admin
@mffx.com for prompt reply. Please click here for important contact information.
What About Terms Like “Bid/Ask”, “Spread”, And “Rollover”?
The default setting of the trading platform is 1 standard lot and insufficient usable margin message pops up once I try to place order. How can I place a mini lot trade when my usable margin is below $500?
All accounts in our system are universal, meaning that the order size can be set to any amount up to the dealer allowed in 0.1 lot increment or 1 lot. By default this amount is 1 standard lot ($500 Required Margin), and can be easily set this amount to 0.1 lot.
Do MF MetaTrader 4 and ECN platform experienced slower automatic order execution during a news release?
Absolutely Not. MF MetaTrader 4 and MF cTrader ECN platform are the state of the art Forex trading and CFDs trading platform that powered and built on top of industry standard. MF MetaTrader 4 trading platform leverage ongoing advances in the technology industry and provide a standard architecture for future development. In addition, the open nature of its architecture ensures a highly flexible design, and allows for the easy and rapid integration of additional third-party tools and services. For more information on MFFX Technology, please click here.
I am a money manager managing more than 100 accounts trading the Forex & CFDs market. Does your trading platform supports multiple accounts?
Yes. In fact our trading platform is designed for the use of professional money manager which supports multiple accounts with one login. You will see your accounts listed at the “Total Equity Window” of the trading platform. You have to click on the particular account before placing trade. You also can group the accounts together and place trade with one click of the mouse. Please refer to the User Manual on how to operate multiple accounts.
On your forex trading platform one may enter the market in several ways market order buy or sell at market price; limit buy or sell or stop buy or sell; I’m not sure what the difference of these two, limit buy or sell an stop buy or sell is or when I should use them Can you please explain?
The difference is as follows:
Entry Stop Buy and Entry Limit Sell can be placed above the current market price. Of course they play two different roles:
Entry Stop Buy allows to enter the market if you think that the market will be inertially moving up far above the Entry order price.
On the contrary, the Entry Limit Sell allows to enter the market if you think that the market will reverse immediately after hitting the Entry order price.
Entry Limit Buy and Entry Stop Sell can be placed below the current market price. Their use is the same as for the other two, but in different market direction.
How can I hedge a position(s)?
Hedging is to open a new position(s) of the same symbol without liquidating the current floating position(s). You can open a new position to hedge the current position that you may has on the account. Once the order executed, it will be a new position(s) without liquidating the current floating position(s). This feature is design for trader who would like to take advantage of the short term fluctuation of the market without closing the current position(s); which the trader assume the market will move to their favour eventually.
I registered for a forex demo account and do not get any login information via email.
Please check you “SPAM” or “BULK” mail folders. If you still do not get it, inform us at admin
If the registration went blank (white page) after submission, please try again some other times. Servers might be under maintenance.
How to work behind the firewalls?
Does MF MetaTrader 4 runs on Windows Vista, XP and 7 operating system?
Windows operating system works beautifully with our software. If you are facing problem of launching the software, please un-install the current MF MetaTrader 4 and re-install it again. Shortcut will be added to the Desktop.