MHMarkets, known as Maihui, is a foreign exchange broker established in Australia, primarily offering trading services in foreign exchange, precious metals, energy, and indices to investors. The company's official website supports Simplified Chinese, Traditional Chinese, English, Vietnamese, and Burmese as user languages. Additionally, the account registration page on the MHMarkets website also supports these languages.
Company Background:
Information on the MHMarkets website indicates that the company is registered and established in Australia. A search on the website of the Australian Securities and Investments Commission (ASIC) verifies the authenticity of this registration, with an Australian Business Number (ABN) provided by the Australian Business Register. Moreover, a Whois lookup of the website's domain registration reveals that the domain was registered on May 30, 2021, implying that the registration has been in place for over two years.
Account Registration:
The MHMarkets website provides links to register both real and demo accounts for investors. To register a real account, click "Register" at the top right of the MHMarkets homepage or "Open Account" on the left side of the homepage. After entering the registration page, complete the required fields such as Email, Name, Phone, Password, and Email verification code to register a real account. For a demo account, follow the same steps but select "Apply for Demo Account," filling in trading software, account type, margin (leverage) ratio, Phone, Email, Email verification code, and Name to complete the demo account registration. The registration page supports Simplified Chinese, Traditional Chinese, English, Vietnamese, and Burmese.
Account Types:
The MHMarkets website indicates that the company provides three different types of trading accounts for investors: STD Account, STP Account, and ECN Account, and highlights the differences in minimum deposit and spreads among these accounts.
Trading Products:
The MHMarkets website shows that the company offers trading services in foreign exchange, precious metals, energy, and indices for investors. However, detailed information on commission, minimum trading unit, maximum trading unit, and overnight interest for specific trading products is not provided.
Margin Ratio:
While the "Account Types" section of the MHMarkets website displays the margin (leverage) ratios for different account types, specific margin (leverage) ratio information for particular trading products in foreign exchange, precious metals, energy, and indices is not available.
Trading Time:
The MHMarkets website does not provide specific trading times for foreign exchange, precious metals, energy, and indices trading products.
Deposits and Withdrawals:
The MHMarkets website does not provide information on the channels and methods supported for deposits and withdrawals, the currencies supported, or the fees and time involved in this process.
Trading Software:
According to the MHMarkets website, the company offers investors two trading software options: MetaTrader4 (MT4) and MetaTrader5 (MT5). Both MT4 and MT5 provided by MHMarkets support desktop versions (Windows/MacOS), web versions, and mobile versions (iOS/Android). However, in certain countries or regions, the Android versions of MT4 and MT5 may face issues with installation or slow download speeds.
Other Services:
The MHMarkets website states that the company offers an economic calendar, PAMM accounts, copy trading, and VPS services. The economic calendar can help investors understand past or upcoming financial market events, PAMM accounts allow investors to manage multiple sub-accounts through a master account, copy trading enables investors to replicate or use others' trading strategies or methods, and a VPS can help reduce or avoid trade risks caused by network issues.
Regulation Information:
The MHMarkets website reports that the company is regulated or authorized by the Australian Securities and Investments Commission (ASIC), Vanuatu Financial Services Commission (VFSC), and MWALI International Services Authority (MISA) and holds a Canadian FINTRAC Money Services Business (MSB) license. However, no regulatory or authorization information was found for the company on the VFSC website, and FINTRAC's primary function is to detect, prevent, and deter money laundering and terrorist financing, without regulating or authorizing brokers. But searches on the ASIC and MISA websites have verified the authenticity of the company's regulatory or authorization information, and the company holding a FINTRAC MSB license is confirmed to be genuine.
Conclusion:
MHMarkets, known as Maihui, is a normally operating broker. Despite the Vanuatu Financial Services Commission (VFSC) not showing any regulatory or authorization information for the company, and the primary role of the Canadian Financial Transactions and Reports Analysis Centre (FINTRAC) being to detect, prevent, and deter money laundering and terrorist activities without regulating or authorizing brokers, the regulatory or authorization information obtained from the ASIC and MISA websites is confirmed to be true. Additionally, the ASIC website confirms the company's registration in Australia with a valid ABN. In summary, MHMarkets appears to be a legitimate, functioning broker. TraderKnows advises you to protect your assets and avoid falling into fraud traps.