Note: MFPros official site - http://mgfidelpro.com/en is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is MFPro？
MFPro is registered in Canada and appears to be a fraudulent broker without any credible regulation. Unfortunately, we could not find any more detailed information about this broker on the internet. Therefore, we recommend that you do not deal with such a low-information broker right off the bat and always consult WikiFX to get at least a basic understanding of a broker.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
MFPro Alternative Brokers
There are many alternative brokers to MFPro depending on the specific needs and preferences of the trader. Some popular options include:
FBS - for traders looking for a wide range of trading instruments and competitive trading conditions.
Admiral Markets - for traders seeking a reputable and regulated broker with a diverse range of trading products and platforms.
Swissquote - for traders who prioritize security and reliability, as it is a well-regulated broker with a strong reputation in the financial industry.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is MFPro Safe or Scam？
MFPro has no valid regulation and its website is unavailable currently, which raises concerns about their legitimacy and trustworthiness. When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.
Regulation is an essential factor in ensuring the safety of clients' funds and maintaining fair trading practices. It is generally recommended to choose regulated brokers that are overseen by reputable financial authorities.
Trading Platforms
MFPro offers the popular MetaTrader4 (MT4) platform, which is a widely recognized and widely used platform in the trading industry. MT4 provides a comprehensive suite of tools and features for traders, including advanced charting capabilities, a wide range of technical indicators, automated trading options, and real-time market analysis. Traders often appreciate the user-friendly interface and customizable nature of MT4, allowing them to execute trades efficiently and access various financial markets.
It is important to note that without accessing the specific details from MFPro's website, it is advisable to verify the availability and features of their trading platforms directly from the broker's official sources.
See the trading platform comparison table below:
Customer Service
The support service provided by MFPro is not very extensive. It can only be accessed via email and a phone number. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.
User Exposure on WikiFX
We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.
Conclusion
In total, MFPro is an unregulated broker with limited information available and an unavailable website, raising concerns about its legitimacy and safety. The lack of valid regulation and the unavailability of the website make it difficult to assess the reliability and trustworthiness of MFPro. Traders are advised to exercise caution and consider the risks associated with trading on an unregulated platform. It is important to conduct thorough research and due diligence before engaging with any brokerage to ensure the safety of your funds and investments.
Frequently Asked Questions (FAQs)
