Review: Is MTrading a Legit Broker? is a rather controversial Forex broker because they are known to leave fake reviews to create the impression that consumers are happy with their service. In addition to this, MTrading is not properly licensed, and therefore not entitled to provide financial services. This is one of the reasons the broker cannot be trusted with inclusion into this list of the best Forex trading resources.

Mtrading is operating out of the Saint Vincent And Grenadines, which means they are an offshore Forex and CFDs broker. It is always a good thing to be aware of the risks that come with using offshore brokers. A jurisdiction like the Saint Vincent And Grenadines has weak financial regulations and cannot guarantee the safety of clients’ money when held by brokers.

Additionally, the local financial services authority does not regulate Forex, Crypto and Binary Options. So it is safe to say that Mtrading is not regulated.

MTrading Review

In as much as this Forex and CFDs broker is not meeting the minimum threshold needed to recommend or rate them as a reliable Forex broker, they seem to offer the same exact service and features of a typical broker. They offer 38 currencies, 4 spot metal CFDs, 3 spot energy CFDs, 10 cash indices and 67 stock CFDs.

They also claim that the platform offers STP and ECN execution types. This claim is hard to verify because nearly all offshore Forex brokers are market makers as opposed to STP and ECN.

Instead of routing trades directly into the Forex market, these brokers employ a market making model where they make revenue on the losses of their clients. In other words, they are always trading against their clients. The more the client looses money in their trades, the more the broker makes money and vice versa.

This is why you will find these brokers banning clients who tend to outsmart them in terms of the strategy they use to beat the system and gain an advantage over them.

Example of market makers include Hantec Markets, TMGM, Markets24 and Simplified Asset. Mtrading has officially joined this list as well.

MTrading Account Types and minimum deposit

There are two account types namely M.Premium and M.Pro respectively. M.Premium requires a minimum deposit of $100 while M.Pro requires $500. Obviously you don’t choose a high deposit account if you are a novice trader. You only choose this account type only if you have developed some level of skill and experience. These trading tools can help you achieve this in an extremely short time. 

MTrading Welcome/deposit bonus

MTrading offers a deposit bonus of up to 200%. This means if you deposit $100, you can get up to $200 in your trading account.

Unfortunately, deposit bonuses can be tricky as offshore brokers are known to use their terms and conditions to manipulate their customers. So we don’t encourage accepting these deposit bonuses as they can ruin your trading account and put you in unnecesary friction with your broker.


I’ve seen reviews from their previous customers suggesting that Mtrading is only concerned their traders’ losses than profits.

There are complaints that if a client makes trades and makes a profit, they will not allow withdrawal of this profit. This echoes my sentiments when I said earlier that market makers are the only brokers that run business in this manner.

This proves that Mtrading is actually a market maker and not an STP/ECN broker.

The Conclusion

So, is this broker a scam? I would say yes because if they are straightforward, then we should not be seeing complaints related to the broker refusing withdrawal requests. Furthermore, this is a common complaint among offshore brokers since they are not properly regulated and never feel the obligation to protect their clients’ money.