MTXPlus Review

Review

MTXPlus is a Forex broker administered by industry veterans looking to use their industry knowledge to enhance the trading world. It is owned and operated by Pegase Capital Limited located in Limassol, Cyprus and provides traders the opportunity to trade in a variety of markets including Forex, stocks, commodities and indices. Using cutting-edge trading technology, a host of superior trading tools and a responsive executive team, MTXPlus is a solid choice for Forex traders.

Features

You can make a deposit at MTXPlus directly into your MTXPlus trading account. The various ways you can fund your account include the use of major credit cards, wire and bank transfers. It is also possible to deposit funds into your MTXPlus account using alternative payment methods like Neteller and Skrill (Moneybookers). The deposit procedure is fast, simple and entirely secure. The current minimum deposit is 250 USD/EUR/GBP or 25,000 JPY. With a deposit of between $250 and $20,000 you get instant VIP status and a whole range of exclusive benefits.

Making a withdrawal of funds from your account is easy. You complete the withdrawal form online and email it or print it and send it over by fax. Your funds will be transferred into your account by the same method that you made your original deposit (credit card, wire transfer, Skrill or Neteller) within a maximum of 7 business days. There is no minimum withdrawal amount at MTXPlus.

Other Services

There are three account types at MTXPlus. The Silver Account has a minimum deposit requirement of $500. A free e-book is provided with this account but signal services are not provided. The Gold Account requires a deposit of $750 and in addition to the free e-book, up to 15 signals are sent to traders. The premier account at MTXPlus is the Platinum Account where at least $15,000 must be deposited. With this account, traders receive an e-book, unlimited signals and 1-on-1 training. Spreads vary for each account.

MTXPlus offers a Mobile Trading Platform for your smartphone, iPad or Tablet and you can easily open trades, monitor your investments and manage your trading account from wherever you are. The MTXPlus Mobile Trading Platform is compatible with all major mobile devices and trading is presented in a user-friendly format with sophisticated features to maximize trading success.

A demo account is available but there were no additional details as to how much virtual money is extended and for what period of time a trader is permitted to make use of this account.

MTXPlus provides a host of features for both novice and experienced Forex traders. Important indicators and charting tools are preloaded right into the MetaTrader 4 platform and this makes placing a trade simple and accurate. Traders also have the flexibility to load custom designed indicators.

Some of the common trading techniques and tools that are available to traders at MTXPlus include trailing stops, scalping, stop loss, take profit, hedging and EA (Expert Advisor). Leverage is 400:1 for trading Forex.

A full glossary of terms and major topics in Forex trading as well as in other financial areas is available in the MTXPlus education section of the website. An economic calendar is posted online and the sections on technical and fundamental analysis offer a detailed explanation on these subjects.

MTXPlus offers traders the use of the most popular trading platform in the world, MetaTrader 4 (MT4) as well as the cutting-edge, web-based trading platform, Sirix Webtrader which enables traders to trade online with relative ease. The MT4 trading platform is intuitive and offers a wealth of information as well as a user-friendly layout, with access to different basic instruments and financial markets.

The Sirix Webtrader offers a host of features including One-Click trading, social trading, live analysis, advanced charts and more. The Sirix Webtrader platform allows you to open and close trades with the simple click of a mouse.

MTXPlus is big on bonuses and promotions. While conducting this MTXPlus review, the firm was offering a cash back bonus of up to 7% calculated upon a monthly loss of P&L. A welcome bonus of up to 50% is available on a minimum deposit of $500 and 100% on a minimum deposit of $1000.Withdrawal of bonus funds can be executed only after 200 lots have been traded.

The ‘Friend Refer Friend’ program returns a 5% cash bonus on the first deposit brought by one of your friends with a minimum deposit of $500.

The MTXPlus website is available in Arabic, Chinese, English, French and Russian and I found no difficulties navigating the site.

Platforms

MTXPlus offers both the MetaTrader4 platform as well as the Sirix Webtrader platform which is also a favorite choice of brokers. The MT4 platform is instinctive and provides a wealth of information to the trader. It has a user-friendly layout, with access to different basic instruments and financial markets. Some important indicators and charting tools are preloaded right into the MetaTrader 4 platform and this makes placing a trade simple and accurate. In addition, traders have the flexibility to customize indicators and have them loaded into the platform.

MTXPlus offers a Mobile Trading Platform that can be used by traders anywhere they are at any time. With the mobile platform, they are able to trade on their smartphone, iPad or Tablet. In addition, they can open trades, monitor their investments as well as manage their trading account. The MTXPlus Mobile Trading Platform is compatible with all major mobile devices and trading can be done in a user-friendly format with state-of-the-art features that help traders have a successful trading experience. MTXPlus sends traders the latest market news, updates, reports and analysis directly to their mobile phone so they can stay on top of what is happening in the Forex markets and maximize every trading opportunity.

Reliability

MTXPlus is owned by Pegase Capital Limited, a financial services company registered in Cyprus and authorized and regulated by CySEC (the Cyprus Securities Exchange Commission). It is licensed to conduct business in close to 30 European countries.

Customer Support

Customer support at MTXPlus includes emails, telephone communications to their Cyprus office and 24/7 Chat. During this review I clicked on Chat for some verification of procedure and was rewarded with a knowledgeable and courteous representative. I was able to ask as many questions as I had and received responses that were direct and to the point.

Conclusion

MTXPlus is a full service brokerage company. It offers Forex traders all the necessary tools for learning all about Forex and opening up an account to trade on the Forex markets is quick and easy. Navigation on the site is responsive. I was curious about their VIP status and would have liked to know more about it. The only thing noticeably missing on the website was a ‘search’ button, and therefore, I was not able to find the information I was looking for in this regard.

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