MahiFX is young online trading platform that boasts office in both London and Christchurch. Founded by David Cooney and Susan Cooney in 2010, this market maker entered the online world in 2012 and since then it’s achieved acclaim in the form of FSTech’s Best FX Trading platform 2013.
Although mainly catering to English speaking traders, the site serves customers across the globe thanks to tight spreads and superior customer security. Indeed, because the company has been licensed by the Australian Securities and Investment Commission, it means they not only have to segregate client funds from their own, but ensure they have a minimum amount of tangible assets to remain stable.
MahiFX.com’s Special FX:
One of MahiFX.com’s greatest assets is the fact it’s a market maker rather than a broker or ECN (Electronic Communication Network). Unlike brokers who simply pass a user’s trade into the market or an ECN which blends rates from market makers and brokers, company’s such as MahiFX actually make the rates.
Just as banks help to set market rates through their positions as liquidity providers, MahiFX is able to pitch various currency exchange rates to the market. This position in the industry means MahiFX can offer tighter spreads to its members, thus making their trading experience much more profitable.
Beyond this, MahiFX also offers a quirky comparison tool. Provided as a means to simply compare your wealth to one of the world’s greatest traders, John Paulson, the calculator tells you how long it takes Paulson to earn your yearly wage.
Although somewhat depressing - Paulson earned $4.9 billion in 2010 – the tool does serve to demonstrate the possibilities of becoming a skilled FX trader.
MahiFX offers two different trading platforms: MetaTrader 4 and MahiFX. Each offers similar features, with the providing a web platform while the latter has provisions for Expert Advisors. Indeed, some of the common tools traders will find in these platforms are: one-click trading, market alerts, in-chart trading and quick orders.
Utilising the above platforms, MahiFX is able to offer the following account conditions:
Minimum account size = $1
Minimum position size = 0.00001 lot
Fixed Spreads from 0.8 pips on major currency pairs.
Scalping is allowed
Leverage = 1:100
Digits quoted after the comma = 5
Margin call level = 100%
Stop-out level = 50%
Number of currency pairs = 100
On top of the above numbers, hedging is also allowed on this account.