|Regulation||Australian registered body number (ARBN): 152-535-085 Australian financial services license (AFSL) number: 414198 NZ financial services provider register (FSPR) number: FSP197465|
MahiFX was founded in 2010 by a team of ex-interbankers headed by David Cooney, former head of Binary Options and e-FX trading Departments at Barclays Capital. David was responsible for the flagship award winning e-commerce platform BARX. The company has offices in Christchurch, New Zealand and London, UK with development and customer support teams in both offices for 24 hour service. MahiFX is regulated by the Australian Securities and Investments Commission (ASIC). All communications are encrypted, and all customers' funds in mahifx forex are handled safely by the broker's partner bank.
Retail forex trading can be broadly grouped into three categories: market makers, brokers and electronic communications networks (ECNs). The difference between the three is how they provide currency rates to the retail trader.
Market makers make the rates. In most cases they are banks, hedge funds or in this case, MahiFX Brokers pass on the customer's trade to a market maker and charge a commission or fee on each trade. ECN’s blend rates from both brokers and market makers, and like brokers, charge per trade.
A market-maker is typically defined as a broker-dealer firm that publicly quotes both a buy and sell price for a currency or commodity that is traded on a regular and continuous basis. Market makers compete with one another to offer the best prices for their customers.
mahifx exist in order for traders to be able to buy or sell immediately, rather than having to find someone to buy from, or sell to. The broker-dealer firm is ready at any point during trading hours with an ask and bid price. This means that when you place an order to buy or sell, mahifx broker will either buy from you or sell from their own inventory; they are literally ‘making a market’ for the stock.
Market makers, like MahiFX, can offer tighter spreads, which is the single most important factor in improving your returns. mahifx forex broker don’t add a commission or a spread to the institutional rate and can offer consistently better pricing than a middleman passing on liquidity from a bank or hedge fund.
|Free phone||+44 203 397 1825|
|24 hour support|
|Trading by phone|
|24 hour trading|
|Digits after the dot in quotes||5|
|Minimum position size||0.00001|
|Pip spread on majors||0.8|
|Standard account, $||1|
|Mini account, $||1|
|Other payment methods|
|Popular payment methods||Credit Cards, WebMoney, Wire Transfer|
|Account currencies||USD, EUR, GBP, CHF, JPY|
|Other instruments||gold, silver, binary options, futures|
The more I trade with Mahi, the more I have a feeling of choosing the wrong broker. On my balance more than 3500 bucks and almost $1000 of them was made thanks to my experience trading on news. But the better I trade, the more often I notice unexpected spread widening while waiting for important news. Someone will say that this is normal in a volatile market. But I see that the average spread on EURUSD has increased by 20% over the past 4 months. At the same time, the volatility level remains in the range of previous values. This indicates that broker increases spread.
I can't tell you nothing about my forex experience here but binary options trading is absolutely perfect. Returns on trades up to 90%. Not bad for such a small company. Just one more important thing is analytics. Whatever you trade, you will find very deep market reviews based on fundamental and technical analysis almost on all instruments.
Unlike many brokerage firms in EU, MahiFX is probably one of the most transparent FX companies I've ever worked with. If you doubt, go to their website. The entire management team with detailed description of biography of each employee. The company has its clear focus on providing innovative technologies for financial markets. Therefore, they bet on the needs of the future in automated trading. In my opinion, this is an area where mahifx offers much better service than any competitor around. Something interesting: broker separates accounts funds of customers from their own funds. If you won’t to succeed in FX business then it is supposed to be your broker. Once again, I think that solutions are suitable for all kinds of serious traders who has strong intention to generate income by trading currencies online.
I have opened a real accound with MahiFx recently. There were no problems both of legal or technical character. The customer support is very responsive and helpful. I am quite satisfied with Mahi and the trading software is absolutely user-friendly and highly customizable.