Miki forex review forum
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One of the highlights of Miki Forex is the Bonus program, Contests, and the new trading platform. This Miki Forex review is made in sections so you have the right insight if this broker provides a service worth of your time and investment. Account Types Miki Forex offers 3 account types mainly differentiated by the spreads, minimum deposit requirement, and the bonus allowance.
They are named Micro, Mini, and Standard. What we have noticed is that once you register, you will have the option to have accounts in cryptocurrencies and even more fiat currencies published on the website. Micro Account is the one with the lowest minimum deposit requirement which is low enough anyone can afford. The leverage offered is the highest for Micro but it does not feature tighter spreads as other account types.
Also, a smaller bonus is allowed. On the other side, trading sizes are in micro-lots, giving you better precision for risk management. Mini Account has increased the minimum deposit requirement but is still affordable to most traders. Trading size minimums are increased and are not in line with the minimum deposit. Mini-lot size is too large for optimal risk management. The benefits are increased bonus allowance and tighter spreads than the Micro.
The leverage is decreased but still high enough for most traders. Standard Account has the highest minimum deposit requirement, ahs the most favorable spreads and bonus allowance. As expected, the minimum trading volume size is increased to 1 lot, thus a single trade will require a sizeable portion of the minimum deposit, even with the leverage offered.
The leverage is not decreased and retains the same level as with the Mini Account. Platforms Miki Forex ceased with the MetaTrader 4 platform, even the logo is still on the website and introduced the Mobius Trader 7. This platform is developed by Mobius Soft company based in Russia. Upon further inspection, MetaQuotes terminated the server with the Miki Forex as the broker used Mobius Soft services.
After this event, MetaQuotes started a campaign against the Mobius Trader 7 platform. The MT7 platform is all black by default, similar to the MT4 but simplified in certain areas and better in others. A web-accessible option is also offered and actually, you will be logged in to this platform automatically once you register. We have installed the desktop version and upon opening, we could see 3 sections, chart window on the left with integrated tools and settings, watchlist to the left and the bottom holds the trading info panel.
MT7 features a trading symbol search field but also a certain category asset listing. The Watchlist module does not display more info about the asset or at least not with Miki Forex except the Bid and Ask price and the full name of the asset.
This is probably where more information could be filled in like in the MT4 specification window but nothing is found. The module windows can be resized and chart windows can also be opened separately and detached. Charts have similar features like in the MT4 but the tools bars are set to the side and on top. Traders can change the timeframe to the same levels as in the MT4, starting from M1 to Monthly but with the addition of Tick chart presented as T1. The left side of the chart has several options to erase objects on the chart, save a workspace, open a console for errors made by indicators or algorithms, open mCode editor for coding new indicators, bug reporting, Chart, and General MT7 settings, and Traders Rating.
Traders Rating is a feature to compare traders available for copy trading service but in the case of Miki Forex, this is not available. Ordering has the option to set the size in lots or units, all pending orders, aggregation, and more features MT4 lack. The trade terminal module is very similar to the MT4 but enhanced with more features. Order History tab contains more information about your past trades such as Bid and Ask price. Active trade has the same columns as the MT4 and no noticeable differences.
As for the execution times, it is not presented in the Journal, we have manually measured it to be around ms. Indicators selection is similar in range as with the default MT4 installation. There is a market developed for MT7 by the Mobius Soft but there are no additional made from users.
Indicator settings will be displayed once inserted and the options are similar as with the MT4. MT7 has several other modules integrated. These are Client account management panel, Economic Calendar, complete Profile and funds management and a switch to Binary Options trading. These facilitate and round up the usual web login portal management. Overall, the platform does not have great reviews by users on Google Play.
Aside from this, the MT7 is not popular, few brokers are actually using it. Whatsmore, these brokers have a very bad reputation among traders. Leverage The leverage offered for the Micro Account is maximum while other accounts are set to Still, from the MT7 Accounts tab you can select the leverage up to We are not certain if the leverage level published on the website is updated.
For Precious metals, the leverage is set to Trade Sizes For Micro Account the minimum trade size is set to 0. Additional minimal volume steps are also set to 0. As there is no information on the contract sizes, pending orders limits, etc, we are not able to find out their values. Mini Account has set the minimum trade size to 0. Overview When it comes to trading conditions, Miki Forex seems to be a quite common broker, but there are not too many options to choose from: only currency pairs, CFDs, and metals are available for users.
There are also no ways for earning passive income. The company offers three types of accounts: Standard, Mini, and Micro — each of them is designed to suit different needs and trading styles. Miki Forex claims to have been founded in That means the company has more than 20 years of experience, which inspires some respect.
But there seems to be no way the broker can actually confirm that experience. What we know is that the company mainly operates in Israel and serves some international clients, too. Moreover, the broker keeps quiet about its license.
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