MahiFX Forex Broker  » Finance  »
4.5
1 votes
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  • I only recently noticed MahiFX after reading several positive reviews regarding the broker
  • Another big issue are the full fledged features
  • I originally did not notice this as I thought that calender was just a calender to record my own notes and stuff like that, but I was wrong
  • I chose credit card because the wire transfers have a much higher fee so I am trying to avoid it
  • My bank offers this so I know, but not sure for your bank


    • by MisterTickle

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      I only recently noticed MahiFX after reading several positive reviews regarding the broker. At first, I was quite hesitant as this broker is quite small, but that doesn’t make it any less competitive. This New Zealand broker offers a very tight spread especially for a market maker. In fact, at certain times, the spreads are even better than the ones offered by ECN brokers. This is a huge advantage with an EURUSD spread at just 0.8 pips. This is much lower than Oanda’s. I originally though Oanda was the lowest, but no anymore. This broker, despite its 50 employee size, does have a lot of potential and can be quite beneficial for the first time trader and even more experienced traders.

      Let’s start off with the customer service. Before creating a trading, I actually contacted this broker several times through forums and also their email system. On average, it takes about 24 hours for them to get back to me. In comparison with some of the other brokers, I would actually say this is quite fast. However, the downside is that there is no live chat so there is no way to get an instant answer for any questions I may have. However, in terms of the general customer service, I would say that this is quite nice. The deposit timing is great with very little delay and processing time. On a customer service stand point, I have no complaints


      other than for the fact to get live support.

      Another big chunk of this broker is the terminal. At first I was quite hesitant with using web terminals mainly because I have encountered too many that are poorly built and glitchy. Another big issue are the full fledged features. For starters, this terminal did not come easily to me. I was not familiar with it. This isn’t another distribution where the broker made some slight changes to it. This terminal is very different and I assume built from scratch. I have no problems with this, but this is only based on the condition that all the important indicators are present.

      The terminal really brings a centralized view to the trader. It is suitable for both technical and fundamental analysis. There is a tab where all the latest news are being displayed. However, the news sources aren’t complete. They only provide the news from selected news providers and not all of them. Of course, it is not possible to collect all the news publishing agencies out there, but I would expect a very quick view of important upcoming events as well such as bank rate adjustments and so on. Most news releases come from FXStreet.com which is quite nice as I don’t have to go to the site separately to get a look at the news and then switch over. Now, I actually did not notice this “quick view” of ...


      • upcoming important releases after looking at their tutorial. The “Calender” tab shows all the past, current, and future key figure releases. I originally did not notice this as I thought that calender was just a calender to record my own notes and stuff like that, but I was wrong.

        Moving to a more technical (price) analysis side, I find that there are some really key benefits/ advantages, but some serious drawbacks. In terms of indicators, all the indicators are there in terms of the major ones. These are basically oscillators, divergences, and averages, with a couple of other special ones. However, this is not the point. The key issue is how these indicators are programmed and built. They lack the ability to provide additional information as seen with a downloadable terminal like Metatrader 4. I was really hoping to adding levels to the moving average, but apparently this isn’t possible. Instead, I had to do this through the envelopes. The adjustments are slightly different, but I was able to get the job done nevertheless. However, the point is that it doesn’t allow for major changes and customizations of the indicators. Instead, I am actually using another platform for analysis and the actual trading on this platform. This really slows me down, but nothing I can do.

        I also have some other general comments. I experience a very frequent disconnection. There is a burst of high latency every fifteen to

        twenty minutes or so. When this is high, I occasionally disconnect. When this happens, I actually have log back in and re-adjust the layout and so on. There really isn’t anything I can do, but would be nice if MahiFX can provide more servers and distribute them across several countries so the server closest to me will be used to connect. Other than this, I find that this webtrader is probably one of the better ones. I don’t have a lot of complaints and issues with it.

        Lastly, the account funding option is very straightforward. As of the moment, I can fund with credit card or wire. I chose credit card because the wire transfers have a much higher fee so I am trying to avoid it. I would really hope they would add more payment processors just for the flexibility and more options to choose from. After the funding, it will take a couple of minutes for the credit card deposit to register. As for wire, I have no tried it yet, but I would suspect it is slower as the bank may put the funds on hold for 48 hours to prevent fraudulent activities. My bank offers this so I know, but not sure for your bank. In the end, it is great for scalping with the low spreads, but I would be careful as this broker is quite small and there is a high chance they could shut down.




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    The review was published as it's written by reviewer in March, 2013. The reviewer certified that no compensation was received from the reviewed item producer, trademark owner or any other institution, related with the item reviewed. The site is not responsible for the mistakes made. 4213031604910831/k2311a0313/3.13.13
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