Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Miki Forex

United Kingdom|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.mikiforex.com/en

Website

Rating Index

Contact

info@mikiforex.com
https://www.mikiforex.com/en

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

Miki Forex

Company Abbreviation

Miki Forex

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Users who viewed Miki Forex also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

GO MARKETS

8.97
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

LonghornFX

7.59
Score
2-5 yearsRegulated in United KingdomCommon Business RegistrationMT4/5 full license
Official website

IC Markets

8.92
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

Miki Forex · Company Summary

Aspect Details
Company Name Miki Forex
Registered Country/Area United Kingdom
Founded Year 2007
Regulation Unregulated
Minimum Deposit $20
Maximum Leverage Up to 1:500
Spreads Starting from 0.5 pips
Trading Platforms Mobius Trader 7
Tradable Assets Forex, CFDs, Metals
Account Types Standard Account, Mini Account, Micro Account
Customer Support Email at info@mikiforex.com
Deposit & Withdrawal Bank wire, Webmoney, Visa
Educational Resources Limited educational resources

Overview of Miki Forex

Miki Forex, founded in the United Kingdom in 2007, is a brokerage that offers a diverse range of trading assets across various categories. These assets cater to the preferences and strategies of traders, with a focus on Forex, CFDs (Contracts for Difference), and precious metals like gold and silver. Furthermore, the brokerage provides various account types, competitive leverage options, a user-friendly trading platform (Mobius Trader 7), and mobile trading capabilities to enhance traders' experiences.

It's important to note that Miki Forex operates without regulatory oversight, which poses potential risks for traders. Without regulation, there is no external authority ensuring fair trading practices, transparency, or investor protection.

Overview of Miki Forex

Is Miki Forex legit or a scam?

Miki Forex operates without regulatory oversight, which poses potential risks for traders. Without regulation, there is no external authority ensuring fair trading practices, transparency, or investor protection. Traders may face challenges in case of disputes or issues with the broker, as there is no regulatory body to turn to for assistance or resolution.

Additionally, unregulated brokers may lack the stringent financial standards and security measures that regulated brokers adhere to, potentially jeopardizing the safety of traders' funds and personal information. Therefore, it's important for traders to exercise caution when considering unregulated brokers like Miki Forex.

Is Miki Forex legit or a scam?

Pros and Cons

Pros Cons
Diverse Range of Trading Assets Unregulated
Multiple Account Types Available Limited Educational Resources
Competitive Leverage Options Limited Customer Support Channels
User-Friendly Trading Platform Limited Payment Method Options
Mobile Trading Capability

Pros:

  1. Diverse Range of Trading Assets: Miki Forex offers a diverse selection of trading assets, including Forex, CFDs, and metals. This diversity allows traders to explore various markets and implement different trading strategies.

  2. Multiple Account Types Available: Miki Forex provides traders with the flexibility of choosing from multiple account types, catering to different trading preferences and capital sizes.

  3. Competitive Leverage Options: Traders at Miki Forex have access to competitive leverage options.

  4. User-Friendly Trading Platform: Miki Forex's trading platform, Mobius Trader 7, is user-friendly and accessible across multiple devices, including mobile phones, Android, and Windows Mobile.

  5. Mobile Trading Capability: The availability of the Mobius Trader 7 platform on mobile devices allows traders to stay connected to the financial markets and execute trades from virtually anywhere.

Cons:

  1. Unregulated: Miki Forex operates without regulatory oversight, which can pose significant risks for traders. The absence of regulation means there is no external authority ensuring fair trading practices, transparency, or investor protection.

  2. Limited Educational Resources: Miki Forex provides limited educational resources for traders. The brokerage lacks comprehensive materials and tools commonly offered by regulated brokers.

  3. Limited Customer Support Channels: Miki Forex's customer support options are limited. Traders can only contact customer support via email at info@mikiforex.com, with no provision for telephone or online chat support.

  4. Limited Payment Method Options: The broker offers limited payment methods for deposits and withdrawals.

Market Instruments

Miki Forex offers a diverse range of trading assets across different categories to cater to the preferences of traders.

  1. Forex: As a prominent asset type, Forex provides traders with the opportunity to engage in currency trading. Miki Forex offers various currency pairs, including major, minor, and exotic pairs. This diversity allows traders to explore and capitalize on movements in the foreign exchange market.

  2. CFDs (Contracts for Difference): CFDs enable traders to speculate on the price movements of various financial instruments such as indices, stocks, and commodities without owning the underlying asset. Miki Forex offers a selection of CFDs, providing traders with opportunities to diversify their portfolios.

  3. Metals: Precious metals like gold and silver are valuable trading assets that are known for their stability and demand. Miki Forex includes metals in its trading offerings, allowing traders to participate in the precious metals market and potentially benefit from price fluctuations.

These trading assets collectively offer traders a diverse and versatile range of options, enabling them to implement various trading strategies and capitalize on market opportunities across multiple asset classes.

Account Types

Miki Forex offers three distinct account types to accommodate traders with varying preferences and capital sizes:

  1. Standard Account:The Standard Account at Miki Forex provides traders with a balanced and versatile option. With a leverage of 1:200, it requires a minimum deposit of $1,500. Traders can enjoy competitive spreads starting from 0.5 pips, making it suitable for those looking for cost-effective trading. This account type supports Forex, CFDs, and Metals, allowing traders to explore various markets. The minimum position size is 1 lot, and it is compatible with Expert Advisors (EAs) for automated trading.

  2. Mini Account:Miki Forex's Mini Account offers traders a more accessible entry point with a leverage of 1:200 and a lower minimum deposit of $200. While the spreads start from 0.8 pips, it still provides access to Forex, CFDs, and Metals. The minimum position size is reduced to 0.1 lots, and like the Standard Account, it supports Expert Advisors (EAs) for algorithmic trading.

  3. Micro Account:The Micro Account is designed for traders with minimal capital, offering high leverage of 1:500 and an incredibly low minimum deposit of $20. Spreads start from 1 pip, and traders can access Forex, CFDs, and Metals. With a minimum position size of 0.01 lots, this account type is suitable for those looking to start with smaller trades. It also supports Expert Advisors (EAs) for automated trading strategies.

Account Type Standard Mini Micro
Leverage 1:200 1:200 1:500
Minimum Deposit $1,500 $200 $20
Minimum Spread from 0.5 pips from 0.8 pips from 1 pip
Products Forex, CFD, Metals Forex, CFD, Metals Forex, CFD, Metals
Minimum Position 1 0.1 0.01
Supported EA Yes Yes Yes
Account Types

How to Open an Account?

Opening an account with Miki Forex is a straightforward process that can be broken down into six simple steps:

  1. Visit Miki Forex Website:

    Start by going to Miki Forex's official website, which is accessible at https://www.mikiforex.com/en/.

  2. Click on “Open an Account”:

    On the website's homepage, look for the “Open an Account” or similar button and click on it to initiate the account opening process.

  3. Choose Your Account Type:

    Select the type of trading account that suits your needs. Miki Forex typically offers different account types, such as Standard, Mini, and Micro. Carefully review the account details and choose the one that aligns with your trading preferences.

  4. Complete the Application Form:

    Fill out the online application form with accurate and up-to-date personal information. This typically includes your full name, contact details, financial information, and any required documents for identity verification.

  5. Provide Necessary Documentation:

    As part of the account opening process, you'll likely be required to provide specific documents for identity verification and compliance purposes. Commonly requested documents may include a valid passport or ID, proof of address (e.g., utility bill or bank statement), and possibly financial statements.

  6. Fund Your Account:

    After your application is approved, you'll need to deposit funds into your trading account. Miki Forex may offer various funding methods, such as bank transfers, credit/debit cards, or e-wallets. Ensure you meet the minimum deposit requirements if applicable.

Open an Account

Leverage

Miki Forex offers varying leverage options for traders across different account types. The Standard and Mini accounts provide a leverage of up to 1:200, allowing traders to amplify their trading positions. In contrast, the Micro account offers higher leverage, up to 1:500, providing even more flexibility and risk management for traders with smaller capital.

Account Type Standard Mini Micro
Leverage 1:200 1:200 1:500

Spreads & Commissions

The Standard Account offers a minimum spread starting from 0.5 pips, making it suitable for traders seeking competitive pricing. The Mini Account presents a slightly higher spread, starting from 0.8 pips, providing a balanced choice for traders with different strategies. Meanwhile, the Micro Account offers a minimum spread of 1 pip, ideal for those who prioritize flexibility and lower initial investments.

These spread options allow traders to select an account type that aligns with their specific trading requirements.

Account Type Standard Mini Micro
Minimum Spread from 0.5 pips from 0.8 pips from 1 pip

Trading Platform

Miki Forex offers its traders access to the Mobius Trader 7 trading platform, which is compatible with a range of devices, including mobile phones, Android devices, and Windows Mobile. This platform caters to traders who prefer the flexibility of trading on-the-go through their mobile devices.

The Mobius Trader 7 platform is designed to provide a user-friendly and accessible trading experience. While the provided information doesn't offer specific details about the platform's features, capabilities, or user interface, it is crucial to evaluate its functionality and performance to make an informed decision.

The ability to trade on mobile devices can be advantageous for traders who require the flexibility to monitor and execute trades from virtually anywhere. It allows traders to stay connected to the financial markets, access real-time data, and react to market movements promptly.

Trading Platform

Deposit & Withdrawal

Miki Forex offers multiple payment methods for its traders, including Bank wire, Webmoney, and Visa. Each of these methods serves as a means to deposit funds into trading accounts.

The minimum deposit requirement varies depending on the chosen account type:

  1. Standard Account: To open a Standard Account with Miki Forex, traders are required to make a minimum deposit of $1,500. This account type offers access to a range of trading features and benefits tailored for traders looking for a more substantial trading capital.

  2. Mini Account: Traders opting for a Mini Account have a lower minimum deposit requirement of $200. This account type allows traders to get started with a more modest initial investment while still having access to the Forex market and CFDs.

  3. Micro Account: For those looking to start with a minimal capital, the Micro Account offers the lowest minimum deposit requirement of $20. This account type is suitable for beginners or traders who wish to begin with a small amount.

Account Type Standard Mini Micro
Minimum Deposit $1,500 $200 $20

Regarding payment processing times, it's important to note that processing times can vary depending on the selected payment method and the broker's internal policies. Bank wire transfers, for example, may take 1-5 business days or more for funds to be credited to the trading account, as they often involve international banking procedures. In contrast, payments made via Visa or Webmoney are typically processed more swiftly, often within minutes or hours.

Deposit & Withdrawal

Customer Support

Miki Forex's customer support options are limited and lack essential communication channels. They can be reached only via email at info@mikiforex.com, with no provision for telephone or online chat support. This limited accessibility may hinder quick resolution of trader inquiries or issues. Moreover, the absence of more direct and immediate contact options can be a disadvantage for traders seeking prompt assistance with their trading needs. It's advisable for traders to consider these limitations when evaluating Miki Forex's customer support services.

Customer Support

Educational Resources

Miki Forex offers limited educational resources for traders. The brokerage lacks comprehensive educational materials and tools that are commonly provided by many other brokers. Traders looking for extensive learning opportunities, such as educational videos, webinars, or written guides, may find the offerings at Miki Forex to be insufficient.

The absence of such resources could be a drawback, especially for beginners or those seeking to enhance their trading knowledge. Traders who prioritize access to a wide range of educational materials to support their trading journey might need to supplement their learning with external sources or consider brokers with more robust educational offerings.

Educational Resources

Conclusion

Miki Forex offers traders a diverse array of trading assets, including Forex, CFDs, and precious metals. While the brokerage provides flexibility with multiple account types and competitive leverage options, it operates without regulatory oversight, posing potential risks. Furthermore, Miki Forex lacks comprehensive educational resources and has limited customer support channels.

However, its user-friendly trading platform, Mobius Trader 7, and mobile trading capabilities offer convenience to traders. In summary, Miki Forex provides opportunities for traders, but the absence of regulation and limited support and educational resources require caution and supplementary research from prospective users.

FAQs

Q: Is Miki Forex regulated by any financial authority?

A: No, Miki Forex operates without regulatory oversight.

Q: What trading assets are available at Miki Forex?

A: Miki Forex offers Forex, CFDs, and precious metals for trading.

Q: Are there multiple account types to choose from?

A: Yes, traders can select from Standard, Mini, and Micro account types.

Q: What is the minimum deposit requirement for a Micro Account?

A: The minimum deposit for a Micro Account is $20.

Q: Can I trade on mobile devices with Miki Forex?

A: Yes, Miki Forex supports mobile trading on various devices through the Mobius Trader 7 platform.

Q: Does Miki Forex provide educational resources for traders?

A: Miki Forex offers limited educational materials and resources.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

1

Comments

Write a review

FX1338749686
more than one year
This Miki Forex, hateful platform, although I told them that I can manage my trades myself, they still closed all my open positions for no reason. I don’t what the hell with this **** broker. Now losses are not that important and I’d like to report it.
2023-03-13 11:36
Reply
0
0
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com