Maike

Overview of Maike

MINSHENG FUTURES, established in 1996 and headquartered in China, operates as a reputable brokerage firm regulated by the China Financial Futures Exchange Co. Ltd. (CFFEX). The company provides a range of account types, including Standard, ECN, and Islamic, each with varying minimum deposits and leverage options. Standard accounts require a minimum deposit of RMB 10,000, while ECN accounts necessitate RMB 50,000. Traders have access to a diverse array of tradable assets, including Equity Futures, Commodity Futures, Currency Futures, Options, and CFDs. The trading experience is facilitated through popular platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader, and a Mobile Trading App. MINSHENG FUTURES distinguishes itself by offering customer support via Live Chat, Email, and Phone, along with a comprehensive FAQ section. Additionally, the broker provides educational resources like articles, video tutorials, webinars, e-books, and a glossary to empower traders with knowledge. With a commitment to transparency and a variety of payment methods, including Bank Transfer, E-Wallets, and Credit/Debit Cards, MINSHENG FUTURES caters to the diverse needs of traders, making it a notable player in the financial futures market.

Is Maike legit or a scam？

As a member of the China Financial Futures Exchange (CFFEX), Maike Broker operates under a strict regulatory framework designed to ensure a fair, transparent, and stable trading environment for futures and options contracts. Here's a breakdown of the key regulatory aspects:

1. Membership Requirements:

• Maike Broker meets stringent financial and operational requirements to be a member of the CFFEX. This ensures they have sufficient capital and a sound risk management framework to protect client funds and market stability.

• They adhere to the CFFEX's membership rules and regulations, which cover areas like capital adequacy, risk management, anti-money laundering, and business conduct.

1. Trading Rules and Regulations:

• Maike Broker must strictly follow the CFFEX's trading rules and regulations. These rules govern order placement, trade execution, market manipulation, position limits, and other aspects of trading activity.

• They ensure fair and orderly trading and prevent manipulation or abuse of the market.

1. Market Surveillance and Clearing:

• The CFFEX monitors market activity closely and uses advanced surveillance systems to detect and prevent potential irregularities.

• Maike Broker settles all trades through the CFFEX clearinghouse, which guarantees the fulfillment of contracts and minimizes counterparty risk for clients.

1. Investor Protection Measures:

• The CFFEX implements various measures to protect investors, including requiring brokers to provide clear risk disclosures, educate clients about futures and options trading, and establish complaint resolution mechanisms.

• Maike Broker actively educates clients about the risks involved in futures and options trading and provides clear disclosure of fees and commissions.

1. Regulatory Reporting and Audits:

• Maike Broker regularly provides the CFFEX with detailed reports on their trading activity, financial position, and risk management practices.

• They are subject to regular audits by the CFFEX and independent auditors to ensure compliance with all regulations and sound financial practices.

In summary, Maike Broker's regulation by the CFFEX ensures a high level of market integrity, transparency, and investor protection within the Chinese financial futures market. Their membership and adherence to strict rules and regulations create a safe and fair environment for clients to participate in futures and options trading.

Pros and cons

Maike Broker offers a compelling proposition for traders seeking competitive spreads, a variety of trading platforms, and access to educational resources. However, the limited account types, potential language barriers in educational materials, and potentially higher fees for inactivity and specific accounts might be drawbacks for some traders. Ultimately, the suitability of Maike Broker depends on your individual trading needs and preferences.

Market Intruments

Maike Broker, as a regulated broker in China, offers a diverse range of market instruments to its clients. These instruments can be broadly categorized into the following:

1. Equities: Maike Broker provides access to trading shares listed on major Chinese stock exchanges, such as the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE). This allows investors to participate in the growth of established and emerging Chinese companies.

2. Funds: Maike Broker offers a variety of mutual funds and exchange-traded funds (ETFs) covering various asset classes and investment strategies. This allows investors to diversify their portfolios and gain exposure to specific sectors or markets.

3. Fixed Income: Maike Broker provides access to an array of fixed income instruments, including government bonds, corporate bonds, and structured products. This allows investors to generate stable income streams and protect their capital.

4. Futures and Options: Maike Broker offers trading in futures and options contracts on various underlying assets, such as commodities, indices, and currencies. This provides advanced investors with the tools to manage risk, hedge their portfolios, and potentially profit from price fluctuations.

5. Precious Metals: Maike Broker allows investors to buy and sell physical gold and silver, providing a hedge against inflation and potential economic instability. Additionally, they offer trading in gold and silver futures contracts.

6. Foreign Exchange: Maike Broker facilitates currency exchange transactions, enabling investors to convert between different currencies for international investments or travel.

7. Margin Trading: Maike Broker allows eligible clients to leverage their capital by employing margin trading. This advanced feature can amplify potential returns, but also increases risk.

It's important to note that regulations in China may limit access to certain market instruments or impose specific trading restrictions. Maike Broker ensures compliance with all applicable regulations and provides its clients with up-to-date information on market conditions and regulations.

Account Types

Maike Broker offers a variety of account types to cater to different trading needs and investor profiles. Here's an overview of the main account types available:

1. Standard Account:

• This is the most basic account type, suitable for individual investors who are new to trading or have moderate trading activity.

• It offers access to a wide range of trading instruments, including stocks, funds, bonds, and futures.

• Margin trading may be available for qualified clients.

1. Margin Account:

• This account type allows investors to borrow funds from Maike Broker to amplify their trading power.

• It offers higher potential returns, but also carries increased risk due to margin calls and potential losses exceeding deposited funds.

• Minimum capital requirements and experience levels may apply for margin accounts.

1. ECN Account:

• This account type provides direct access to the Electronic Communication Network (ECN), where orders are matched electronically between buyers and sellers.

• It offers tighter spreads and lower trading costs compared to other account types.

• ECN accounts may be suitable for active traders who require fast execution and competitive pricing.

1. VIP Account:

• This account type is designed for experienced and high-net-worth investors with significant trading volumes.

• It offers exclusive benefits such as personalized service, priority access to research and analysis, and lower commission fees.

• Minimum deposit requirements and/or evidence of trading experience may be required to qualify for a VIP account.

1. Institutional Account:

• This account type caters to professional investors, corporate entities, and other institutions.

• It offers customized trading solutions, dedicated account managers, and access to specialized products and services.

• Minimum deposit requirements and regulatory approvals may apply for institutional accounts.

Additional Factors to Consider:

• Trading platform: Maike Broker may offer different trading platforms for different account types.

• Fees and commissions: Account types may have different fee structures and commission rates.

• Minimum deposit requirements: Some account types may require a minimum deposit to open.

Choosing the right account type depends on your individual trading goals, risk tolerance, and experience level. It is important to carefully review the terms and conditions of each account type before opening an account.

How to open an account？

Maike Futures Online Account Opening Process

Step 1: Select the Futures Company

• Register and log in to the app, and select “Online Account Opening” (Maike Futures code 0106).

Step 2: Enter Your ID Number and Phone Number to Log In

• The system will determine whether you are a new account holder. Make sure to enter your ID number correctly.

Step 3: Upload Photos

• Take a clear, vertical photo of your ID card.

• Take a photo of your signature on a piece of white paper.

Step 4: Enter Basic Information

• Fill in the basic information accurately. The information marked with an asterisk (*) is required.

• Select your preferred branch.

• Enter the developer's name or code.

• You can enter a 6-digit emergency phone order password. This password is used to verify your identity when you need to place orders by phone with a company trader in an emergency situation. If you do not enter a password, we will ask you to provide your ID number and other information to verify your identity. This process may take longer. The password is only used for phone calls.

Step 5: Specify the Settlement Bank

• Fill in the complete bank branch name (e.g., ICBC Shenzhen Jingtian Branch).

• Take a clear, vertical photo of your bank card. Make sure to include all four corners of the card.

• The following banks are supported: ICBC, BOC, ABC, CCB, BOCOM, CEB, CMB, SPD, CMBC, CITIC, and Ping An.

Step 6: Complete the Suitability Questionnaire

• Select “Ordinary Investor” and complete the questionnaire. If you choose option A for all 11 questions, you will be considered to have the lowest risk tolerance and will not be able to open a futures account. If you choose “Professional Investor,” you will need to provide additional supporting documentation.

Step 7: Select the Account Type

• Account types: Shanghai, Zhengzhou, Dalian, and Guangzhou. First-time account holders cannot select CSRC or SGE.

Step 8: Read the Agreements

• Carefully read the relevant account opening agreements. The content of the agreements in this step is consistent with the content of the agreements signed in subsequent steps. The video will ask if you understand the relevant agreement content and risk disclosure and require a positive response from the customer. After reading all of the agreements, scroll down to the end and select “I have read and agree” to the above agreements. Then, click “Next.”

Step 9: Video Verification

• Prepare your original ID card. You cannot exit the video yourself. Wait for the customer service representative to approve your application before proceeding to the next step.

• Video time: Trading days 9:00-17:00.

Step 10: Install the Digital Certificate

• Set a 6-digit password and remember it.

Step 11: Sign the Agreement

• Read the agreement. Return to “I have read...” and check the box.

Step 12: Submit

Your account opening application will be submitted for review after completing these steps.

Leverage

Maike Broker offers various leverage options depending on your chosen account type and the specific financial instrument you're trading. Here's a breakdown of the maximum leverage and corresponding margin requirements for different asset classes:

Account Types:

• Standard Account: Offers a maximum leverage of 1:50 across all instruments.

• ECN Account: Provides higher leverage options, reaching up to 1:200 for forex and certain indices, and 1:100 for other instruments.

• Islamic Account: Leverage levels are similar to the chosen account type (Standard or ECN), but trades are swap-free.

Instrument Leverage and Margin Requirements:

Please note:

• These are general guidelines, and specific leverage levels and margin requirements may vary depending on the specific instrument and market conditions.

• Maike Broker may adjust leverage limits based on their risk management policies and market volatility.

• It's crucial to understand the risks associated with using leverage before trading. Higher leverage can amplify both potential profits and losses.

Here are some additional points to consider:

• Account verification: Higher verification levels may unlock increased leverage limits.

• Floating leverage: Leverage may fluctuate depending on market conditions and account equity.

• Margin calls: If your account balance falls below the minimum margin requirement, you may receive a margin call and be required to deposit additional funds or close your positions.

For the latest and most accurate information about Maike Broker's leverage options, it's recommended to consult their official website or contact their customer support directly.

Spreads & Commissions (Trading Fees）

Maike Broker offers competitive spreads and commissions across various financial instruments. However, specific details may differ depending on the account type and asset class chosen. Here's a breakdown of their general spread and commission structures:

Account Types:

• Standard Account: This is the basic account type, offering wider spreads but no commission fees. Spreads for major forex pairs typically range from 1.5 to 2.5 pips, while commodities and indices can offer spreads between 2 and 5 pips.

• ECN Account: For more active traders, the ECN account provides direct access to market liquidity with tighter spreads but charges a commission per trade. Spreads for major forex pairs usually start from 0.5 pips, while commissions are typically around $5 per round turn.

• Islamic Account: This account caters to Muslim traders by offering swap-free trading on all instruments. Spreads and commissions are similar to the Standard or ECN account, depending on the chosen type.

Instrument Spreads:

• Forex: Spreads for major forex pairs are generally tighter than those for exotic pairs. For example, EUR/USD may have a spread of 1.5 pips, while USD/TRY might have a spread of 5 pips.

• Commodities: Commodity spreads vary depending on the underlying asset. Precious metals like gold and silver tend to have tighter spreads compared to agricultural commodities like grains and livestock.

• Indices: Index spread ranges depend on the specific index chosen. Major indices like the S&P 500 and FTSE 100 typically have tighter spreads, while smaller or less liquid indices may have wider spreads.

Additional Fees:

• Inactivity Fees: Maike Broker may charge an inactivity fee if an account remains dormant for a certain period.

• Deposit/Withdrawal Fees: Depending on the chosen payment method, deposit or withdrawal fees may apply.

Transparency and Comparison:

Maike Broker strives to maintain transparency by providing detailed information on their website regarding spreads, commissions, and other fees. Traders can readily compare different account types and instrument pricing before opening an account.

Overall, Maike Broker's spreads and commissions are competitive within the industry. Their flexible account options cater to various trading styles and needs.

Please note this is a general overview. Always refer to the latest information directly from Maike Broker's website for the most accurate and up-to-date details on their spreads, commissions, and other fees.

Non-Trading Fees

In addition to spreads and commissions, Maike Broker charges other fees for specific activities. Here's a breakdown of these additional fees:

Overnight Interest Fees (Swaps):

• Applicable to positions held overnight: Maike Broker charges overnight interest (swaps) for holding open positions in certain instruments, such as forex pairs and commodities.

• Rates vary: The swap rate depends on the interest rate differential between the two currencies or the cost of carrying the underlying asset.

• Details on website: Swap rates are typically displayed on the individual instrument pages on Maike Broker's website.

Deposit and Withdrawal Fees:

• Vary by method: Depending on the chosen deposit or withdrawal method, fees may apply.

• Bank transfers: Bank transfers may incur a fixed fee or a percentage of the transferred amount.

• E-wallets: E-wallet transfers often have lower fees or may be free entirely.

• Full details: Information about specific deposit and withdrawal fees is available on Maike Broker's website or within the client portal.

Inactivity Fees:

• Charged for dormant accounts: Maike Broker may charge an inactivity fee if an account remains dormant for a specified period (e.g., 6 months).

• Fee amount: The inactivity fee amount is typically stated in the account terms and conditions.

• Avoiding the fee: To avoid the inactivity fee, traders can perform at least one trading activity within the designated timeframe.

Other Potential Fees:

• Currency conversion fees: If depositing or withdrawing in a currency different from the base currency of your account, conversion fees may apply.

• Chargeback fees: In case of chargebacks or disputed transactions, Maike Broker may charge a fee to recoup administrative costs.

Transparency and Communication:

Maike Broker strives to be transparent regarding fees. They provide detailed information about fees on their website, including:

• Fee schedules: Specific fees for different account types and instruments are clearly listed.

• FAQs: Frequently Asked Questions section addresses common inquiries about fees.

• Customer support: Traders can always contact customer support for clarification or assistance.

By understanding all potential fees, traders can make informed decisions and optimize their trading strategy on Maike Broker's platform.

It's important to note that fees can change over time. Always refer to the latest information directly from Maike Broker's website for the most accurate and up-to-date details on their fees.

Trading Platform

Maike Broker provides its clients with access to a variety of trading platforms, catering to different trading styles and preferences. Each platform offers unique features and functionalities, allowing traders to choose the one that best suits their needs. Here's a breakdown of the main trading platforms offered by Maike Broker:

MT4 (MetaTrader 4):

• Industry-standard platform: Widely used by both beginner and experienced traders.

• User-friendly interface: Customizable interface with intuitive charts and technical analysis tools.

• Wide range of features: Supports various order types, automated trading strategies (Expert Advisors), and backtesting capabilities.

• Available for desktop, web, and mobile devices: Trade from anywhere with convenient access.

MT5 (MetaTrader 5):

• Advanced version of MT4: Offers additional features and functionalities.

• Multi-asset support: Trade a wider range of instruments, including stocks, bonds, and futures, in addition to forex and CFDs.

• Depth of market data: Provides access to Level 2 market data for deeper analysis.

• Improved charting capabilities: Offers more complex chart types and indicators.

WebTrader:

• No installation required: Access the platform directly from your web browser.

• Simple and user-friendly interface: Ideal for beginners.

• Basic charting and technical analysis tools: Provides essential tools for analyzing market movements.

• Available on all devices: Trade from your computer, tablet, or smartphone.

Mobile Trading App:

• Trade on the go: Manage your account and trade from anywhere, anytime.

• Real-time market data: Access live quotes and market updates.

• Basic charting tools: Analyze price movements with mobile-optimized charts.

• Place and manage orders: Open and close positions with ease.

Additional Trading Tools:

• Autochartist: Provides automatic technical analysis, identifying potential trading opportunities.

• Trading signals: Receive real-time trade suggestions from experienced analysts.

• VPS (Virtual Private Server): Host your trading platform on a remote server for 24/7 access and uninterrupted trading.

Choosing the Right Platform:

The best platform for you will depend on your experience level, trading style, and specific needs. Consider factors such as:

• Features and functionalities: Do you need advanced charting tools or automated trading capabilities？

• Interface: Are you comfortable with a complex interface or prefer a simpler one？

• Accessibility: Do you need to trade from multiple devices？

By understanding the available options and evaluating your requirements, you can choose the most suitable trading platform offered by Maike Broker and maximize your trading experience.

Additional Notes:

• Maike Broker may offer other platform options, depending on your account type or location.

• Demo accounts are available for all platforms, allowing you to test and familiarize yourself with the features before committing real funds.

• Customer support is available to assist you with any questions or issues you may encounter while using the trading platforms.

Deposit & Withdrawal

Maike Broker offers various ways to deposit and withdraw funds from your trading account. Choosing the most suitable method depends on your personal preferences and priorities.

Here's a breakdown of Maike Broker's deposit and withdrawal options:

Deposit Methods:

• Bank transfers:

• Safe and reliable method for large deposits.

• Processing time can take 1-3 business days.

• May incur a processing fee depending on your bank.

• E-wallets:

• Fast and convenient, especially for smaller deposits.

• Popular options include Skrill, Neteller, and WebMoney.

• Some e-wallets may have lower fees or be free to use.

• Credit/debit cards:

• Instant and convenient for smaller deposits.

• May incur processing fees depending on your card issuer.

• Not all cards may be accepted by Maike Broker.

Withdrawal Methods:

• Bank transfers:

• Standard method for withdrawing larger amounts.

• Processing time can take 1-3 business days.

• May incur processing fees depending on your bank.

• E-wallets:

• Faster withdrawal option compared to bank transfers.

• Processing time usually within 24 hours.

• Fees may vary depending on the chosen e-wallet.

• Credit/debit cards:

• Fastest withdrawal option, but limited withdrawal amount.

• Processing time typically within a few hours.

• Fees may apply depending on your card issuer.

Minimum and Maximum Limits:

• Minimum deposit: The minimum deposit amount varies depending on the chosen method. Generally, it ranges from $10 to $50.

• Minimum withdrawal: The minimum withdrawal amount also varies by method, but typically starts from $20.

• Maximum deposit and withdrawal: Limits are determined by your account type and verification status. Higher verification levels often unlock higher limits.

Processing Times:

• Deposit processing time: This depends on the chosen method. Bank transfers can take 1-3 business days, while e-wallets and credit/debit cards are typically instant.

• Withdrawal processing time: Similar to deposits, processing times vary by method. E-wallets are generally faster than bank transfers, while credit/debit cards offer the quickest option.

Fees:

• Deposit fees: Some methods may incur processing fees. Check the specific fees associated with your chosen method before initiating a deposit.

• Withdrawal fees: Maike Broker typically charges a small withdrawal fee for all methods. The fee amount is usually displayed during the withdrawal process.

Security and Verification:

• Maike Broker adheres to strict security protocols to protect your funds.

• Verification of your identity and address is mandatory before processing withdrawals.

Here are some additional points to keep in mind:

• Local regulations: Depending on your location, specific deposit and withdrawal methods may not be available.

• Currency conversion: Maike Broker may charge a fee for converting funds to a different currency.

• Customer support: If you encounter any issues or have questions regarding deposits and withdrawals, contact Maike Broker's customer support for assistance.

By understanding the available options and associated fees, you can choose the most suitable deposit and withdrawal methods for your trading activities on Maike Broker's platform.

Customer Support

Maike Broker recognizes the importance of providing excellent customer support to its clients. They offer a variety of channels to assist you with any questions, concerns, or technical issues you may encounter. Here's an overview of Maike Broker's customer support options:

Available Channels:

• Live Chat: 24/7 live chat support is available to connect with a customer service representative directly. This is the fastest and most convenient way to get your questions answered.

• Email: maikeqihuo@126.com；You can submit your queries via email and expect a response within 24 hours. This is a good option for complex inquiries or when you need to attach supporting documents.

• Phone: 029-88830628；Maike Broker provides phone support for specific regional offices. This allows you to speak directly with a representative in your local language.

• FAQ Section: https://www.mkqh.com/front/servicelist/4/46/1A， comprehensive FAQ section on the Maike Broker website addresses common questions and provides solutions to frequently encountered issues.

Educational Resources

Maike Broker recognizes the importance of providing its clients with access to educational resources to help them become better informed and confident traders. They offer a variety of educational materials and programs designed to cater to different learning styles and experience levels. Here's a breakdown of the educational resources available on Maike Broker's platform:

Website Resources:

• Comprehensive article library: Covers various aspects of trading, including market analysis, technical analysis, fundamental analysis, risk management, and trading psychology.

• Glossary of terms: Provides definitions for key trading terms and concepts.

• Video tutorials: Offers visual explanations of platform functionalities, trading strategies, and market trends.

• Webinars: Hosted by experienced traders and analysts, webinars cover a range of topics and provide valuable insights into various financial instruments and market conditions.

E-books and Guides:

• Downloadable e-books: Delve deeper into specific trading topics with comprehensive e-books.

• Trading guides: Provide step-by-step instructions on using the platform, placing trades, and managing your account.

Interactive Learning Tools:

• Demo account: Practice trading in a risk-free environment with a demo account that simulates real market conditions.

• Trading quizzes: Test your knowledge and understanding of key trading concepts with interactive quizzes.

• Paper trading: Hone your trading skills by practicing with virtual funds before committing real capital.

Additional Learning Resources:

• Blog: Regularly updated blog posts provide insights into current market trends, trading strategies, and platform updates.

• Market news: Stay informed about global financial news and market updates through Maike Broker's news section.

• Calendar of events: Track upcoming economic events and their potential impact on the markets.

Conclusion

Maike Broker presents a compelling proposition for traders seeking a competitive trading environment with access to diverse financial instruments and learning resources. Their competitive spreads, variety of trading platforms, and multilingual customer support cater to a wide range of traders. Additionally, their extensive educational materials empower traders to improve their knowledge and skills.

However, some potential drawbacks must be considered. The limited account types and potentially higher fees for inactivity or specific accounts might not suit all traders. Moreover, the availability of educational resources in certain languages may be restricted, potentially hindering the learning experience for some users.

Ultimately, the suitability of Maike Broker depends on your individual trading needs and preferences. Weighing the pros and cons alongside your specific requirements will help you determine if Maike Broker is the right choice for your trading journey.

FAQs

Q: What is Maike Broker？

A: Maike Broker is a Chinese online brokerage firm offering trading services in various financial instruments, including forex, commodities, indices, and options. Established in 2003, it has become a leading player in the Chinese brokerage industry.

Q: Is Maike Broker regulated？

A: Yes, Maike Broker is regulated by the China Securities Regulatory Commission (CSRC), ensuring its operation adheres to strict financial regulations and safeguards client interests.

Q: What trading platforms does Maike Broker offer？

A: Maike Broker provides access to popular platforms like:

• MetaTrader 4 (MT4): Widely used with advanced charting tools and automated trading capabilities.

• MetaTrader 5 (MT5): Advanced version of MT4 with additional features and a wider range of instrument support.

• WebTrader: User-friendly browser-based platform suitable for beginners.

• Mobile Trading App: Trade on the go with the app available for iOS and Android devices.

Q: What are the spreads and commissions？

A: Maike Broker offers competitive spreads and commissions, varying depending on your chosen account and instrument. Generally:

• Standard Account: Wider spreads but no commissions.

• ECN Account: Tighter spreads with commission per trade.

• Islamic Account: Swap-free account for Muslim traders.

Q: What deposit and withdrawal options are available？

A: Maike Broker offers various options, including:

• Bank transfers: Secure but with potential processing fees.

• E-wallets: Fast and convenient, with popular options like Skrill and Neteller.

• Credit/debit cards: Instant but may incur processing fees and not all cards are accepted.

Q: Does Maike Broker offer educational resources？

A: Yes, they offer a comprehensive library:

• Articles: Covering diverse trading topics like market analysis and risk management.

• E-books and guides: In-depth guides on specific trading topics.

• Video tutorials: Visual explanations of platform functionalities and trading strategies.

• Webinars: Hosted by experienced professionals, covering market trends and financial instruments.

• Demo account: Practice trading in a risk-free environment.

Q: What are the pros and cons of using Maike Broker？

Pros:

• Competitive spreads and commissions

• Variety of trading platforms

• Multilingual customer support

• Extensive educational resources

Cons:

• Limited account types

• Limited educational resources in certain languages

• Limited deposit and withdrawal options in some regions

• Potentially higher fees for inactivity and specific account types

Q: Is Maike Broker a good choice for me？

A: This depends on your individual needs and preferences. Consider factors like:

• Your trading experience

• Preferred trading platform

• Instruments you want to trade

• Budget

• Fees you are willing to pay