Mirrox
Pros and Cons
Pros
- Regulated by Mwali International Services Authority
- Segregated client funds for added security
- Diverse trading instruments: Forex, commodities, indices, stocks, cryptocurrencies
- Multiple account types catering to different experience levels
- 24/7 multilingual customer support
Cons
- Not regulated in major jurisdictions like the US
- High minimum deposit requirement of $250
- Limited trading platforms, only offering a proprietary web platform
- Withdrawal fees on certain methods, including a 3.5% charge for credit/debit card withdrawals
- Inactivity fees may apply to dormant accounts
Basic Information
User Reviews
Mirrox Overview
Mirrox is a forex broker established by Capital Crest Ltd, operating out of Comoros for the past 1-2 years. This broker is regulated by the Mwali International Services Authority, ensuring a level of trust and compliance with financial standards in its operational jurisdiction. For more detailed information about Mirrox, you can visit their official page at https://www.wikifx.com/en/dealer/1782355680.html.
Is Mirrox Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Mwali International Services Authority | Comoros | Segregated Accounts |
Is Mirrox Regulated and How Are Client Funds Protected?
Mirrox is regulated by the Mwali International Services Authority, which provides a level of oversight and compliance with financial standards within its operational jurisdiction. Client funds at Mirrox are kept in segregated accounts, ensuring that traders’ investments are separated from the broker’s operating funds. This arrangement adds a layer of security and trust, safeguarding clients’ capital against potential operational risks faced by the broker. While the regulatory framework does not guarantee comprehensive investor protections found in more established jurisdictions, the existence of segregated accounts demonstrates a commitment to maintaining the integrity of clients’ funds. Investors should remain aware of the nature of the regulatory body and the specific protections it offers.
Trading Products and Services
What Trading Instruments Does Mirrox Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Many |
| Commodities | Gold, Oil | Many |
| Indices | S&P 500, NASDAQ | Many |
| Stocks | US, UK | Many |
| Cryptocurrencies | BTC, ETH | Many |
Mirrox offers a diverse range of trading instruments across multiple asset categories, catering to various trader preferences and strategies. With access to Forex, Commodities, Indices, Stocks, and Cryptocurrencies, traders can effectively diversify their portfolios. This variety not only appeals to beginners looking to explore the markets but also to professional traders seeking advanced trading options and strategies. The ability to trade across different asset types enhances flexibility, allowing users to adapt their approaches based on market conditions and personal investment goals. Overall, Mirrox’s extensive product offerings support a wide array of trading styles, providing valuable opportunities for both short-term and long-term investors.
Account Types and Trading Conditions
What Account Types and Fees Does Mirrox Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Classic Account | Beginners | Low spreads, maximum leverage of 1:400 | Suitable for small-capital practice |
| Silver Account | Intermediate Traders | Competitive spreads, maximum leverage of 1:400 | Requires some trading experience |
| Gold Account | Advanced Traders | Lower spreads than silver account, maximum leverage of 1:400 | Ideal for traders looking for better cost efficiencies |
| Platinum Account | Professional Traders | Very low spreads, maximum leverage of 1:400 | Best for high-volume traders |
| VIP Account | Experienced Traders | Lowest spreads, maximum leverage of 1:400 | Exclusive benefits available |
Account Opening Process
To open an account with Mirrox, you will need to follow a structured process: first, complete a registration form by providing personal, employment, and financial information. Next, submit identity verification documents, which include a government-issued ID and proof of address. Once your identity is verified, you can begin trading. Mirrox also offers account flexibility, allowing you to upgrade to a professional account as your trading experience grows.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 2.5 | $0 | Competitive spreads for beginners |
| Forex (VIP Account) | 0.9 | $0 | Best spreads for high-volume trading |
| CFDs (Stocks, Indices) | Varies | $0 | Embedded costs within spreads |
| Cryptocurrencies (BTC/USD) | Variable | $0 | Dependent on market conditions |
Other Fees
In addition to trading fees, Mirrox has several other fees to consider. There are no deposit fees, allowing clients to fund their accounts without incurring additional costs. Withdrawal fees may apply depending on the method chosen, with the first withdrawal for verified accounts being free. Inactivity fees may also apply if an account remains inactive for a specified period. Additional costs may include platform usage fees, overnight interest (swap rates), and currency conversion fees.
Trading Platforms and Apps
What Trading Platforms and Apps Does Mirrox Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | Two-factor authentication, multiple order types, technical indicators | Demo accounts, VPS |
| Web Version | All devices with internet access | Encryption, customizable interface, real-time alerts | Demo accounts |
| Mobile App | iOS, Android | Biometric login, push notifications, one-click trading | Demo accounts |
The MT4/MT5 platforms are ideal for traders seeking advanced tools and features for a comprehensive trading experience. The web version provides robust functionality across all devices, allowing for seamless trading on the go. The mobile app enhances trading convenience with secure logins and real-time alerts, catering to traders who prioritize flexibility and immediate access to the markets. Mirrox’s commitment to secure logins and efficient search tools ensures a dependable trading environment for all users.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 business days | No platform fee | Min $50, Max $20,000 per transaction | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min $50, Max $10,000 per transaction | USD, EUR |
| Cryptocurrency | Instant | No platform fee | Min $50, Max $15,000 per transaction | BTC, ETH |
| E-wallets | Instant | 1.5% charge | Min $50, Max $5,000 per transaction | USD, EUR |
Minimum Deposit
The minimum deposit requirement at Mirrox is $50. This amount is consistent across all payment methods, making it accessible for traders of various experience levels. There are no variations based on account type or region.
How to Withdraw
To withdraw funds from your Mirrox account, follow these steps:
- Log in to your Mirrox account.
- Navigate to the withdrawal section of the platform.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw and any necessary details.
- Submit your withdrawal request for processing.
- You will receive a confirmation once your request is processed.
Customer Support
Mirrox Customer Support Overview
Support Channels
Mirrox provides several contact methods for customer support, ensuring that clients can easily access help when needed. You can reach out via:
- Email: For detailed assistance, clients can contact Mirrox through email at support@mirrox.com.
- Live Chat: Instant support is available through the live chat feature, allowing for real-time customer interaction.
- Telephone: For immediate assistance, clients can call +447701426264.
- Social Media: Clients may also contact Mirrox through various social media platforms for additional support options.
Service Availability
The customer support team at Mirrox is available 24/7, providing prompt support to clients at any time. Additionally, multilingual support is offered, accommodating a diverse clientele.
Frequently Asked Questions
Yes, Mirrox is regulated by the Mwali International Services Authority, ensuring compliance with financial standards in its operational jurisdiction. This regulation provides a level of oversight and trust for clients.
Client funds at Mirrox are kept in segregated accounts, which ensures that traders’ investments are separated from the broker’s operating funds. This arrangement adds a layer of security, safeguarding clients’ capital against operational risks.
Mirrox offers a diverse range of trading instruments, including Forex, Commodities, Indices, Stocks, and Cryptocurrencies. This variety allows traders to effectively diversify their portfolios and adapt their trading strategies.
Mirrox provides several customer support channels, including email, live chat, and telephone support, which is available 24/7. Additionally, the multilingual support team is ready to assist clients with any inquiries or issues they may face.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.