Top Options
75/ 100
Min Deposit: $1
Min Trade Amount: 0.01 Lots
US Clients:
Bonus: No Bonuses Available.
Leverage: 100:1
Free Demo Account:
Trading Platform: MT4, MahiFX Webtrader, Mobile
Payment METHOD NAME Charge Time

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Full Review

About MahiFX

MahiFX is a New Zealand based forex brokerage brand belonging to MahiFX (NZ) Ltd. MahiFX is regulated by the Australian Securities and Investment Commission (ASIC) with Australian financial services license (AFSL) number: 414198, and NZ financial services provider register (FSPR) number: FSP197465. The company started operations in 2010.

 

Special Offers and Bonuses

Traders who use MahiFX can only get rewarded through the Refer-a-Friend offer. Apart from this, there are no other promos or bonus schemes.

 

Types of Trading Accounts

What account types are available on MahiFX? There is basically two types of live accounts which traders can use, which correspond to the types of platforms that the account holder will use.

a)    MahiFX account: This is for those who will be using the web-based platform.

b)    MahiFX MT4: this is for traders who will be using the MT4 platform.

For both account types, the minimum deposit is $1, and the minimum trade size is 0.01 lots. The maximum leverage is set to 100:1.

MahiFX is unabashedly a market maker. Trading strategies that promote the use of expert advisors and hedging strategies are allowed.

 

Trading Platform Features

MahiFX traders can choose to trade on any of these platforms:

a)    MetaTrader4: MahiFX offers its clients the chance to trade forex on the enhanced MetaTrader 4 terminal. All account types can be traded on this platform.

b)    MahiFX Webtrader: This is an in-house developed web-based platform that traders can access from any computer that has an internet connection.

c)     Mobile Platforms: Trading can also be done on the various mobile devices. The platforms used are the MT4 versions of the MahiFX platform, built for the iPhone, iPad and Android devices.

 

Commissions and Spreads

The commissions and spreads obtainable on MahiFX are spelt out below. 

Symbol Ask Bid Spread
AUDCAD 1.01888 1.01866 2.2
AUDCHF 0.85068 0.85046 2.2
AUDJPY 95.788 95.770 1.8
AUDNZD 1.10339 1.10301 3.8
AUDUSD 0.93792 0.93782 1.0
CADCHF 0.83482 0.83460 2.2
CADJPY 94.003 93.986 1.7
CHFJPY 112.585 112.559 2.6
CHFSGD 1.37004 1.36927 7.7
EURAUD 1.42945 1.42921 2.4
EURCAD 1.45659 1.45634 2.5
EURCHF 1.21617 1.21601 1.6
EURDKK 7.45645 7.45635 1.0
EURGBP 0.79174 0.79164 1.0
EURHUF 310.570 309.870 70.0
EURJPY 136.943 136.928 1.5
EURNOK 8.38050 8.37750 30.0
EURNZD 1.57741 1.57694 4.7
EURPLN 4.14720 4.14020 70.0
EURSEK 9.18740 9.18440 30.0
EURSGD 1.66641 1.66564 7.7
EURTRY 2.83483 2.83137 34.6
EURUSD 1.34085 1.34077 0.8
EURZAR 14.21514 14.20356 115.8
GBPAUD 1.80533 1.80497 3.6
GBPCAD 1.83960 1.83922 3.8
GBPCHF 1.53591 1.53553 3.8
GBPJPY 172.947 172.917 3.0
GBPNOK 10.58327 10.57785 54.2
GBPNZD 1.99219 1.99153 6.6
GBPSGD 2.10459 2.10354 10.5
GBPUSD 1.69343 1.69327 1.6
MXNJPY 7.814 7.811 0.3
NOKJPY 16.334 16.326 0.8
NZDCAD 0.92319 0.92287 3.2
NZDCHF 0.77078 0.77048 3.0
NZDJPY 86.792 86.765 2.7
NZDUSD 0.84983 0.84963 2.0
SGDJPY 82.143 82.104 3.9
TRYJPY 48.250 48.190 6.0
USDCAD 1.08630 1.08620 1.0
USDCHF 0.90698 0.90684 1.4
USDDKK 5.56066 5.56026 4.0
USDHKD 7.74980 7.74930 5.0
USDHUF 231.608 231.072 53.6
USDJPY 102.128 102.120 0.8
USDMXN 13.067 12.717 35.0
USDNOK 6.24977 6.24716 26.1
USDPLN 3.09278 3.08738 54.0
USDSEK 6.85152 6.84888 26.4
USDSGD 1.24280 1.24230 5.0
USDTRY 2.11380 2.11160 22.0
USDZAR 10.60159 10.59359 80.0
XAGUSD 20.500 20.460 4.0
XAUUSD 1297.280 1296.880 40.0
ZARJPY 9.626 9.618 0.8

 

Charting Packages

Charts on MahiFX are available on the respective platforms (MT4 and in-house web-based platforms). In addition, there is a new feature on the MahiFX platform known as the MFX Compass.

MFX Compass is a comprehensive suite of various solutions that allow its institutional clients to start and run an e-FX business. The suite includes a variety of components that allow the following:

– optimization of forex pricing;

– algorithmic hedging;

– top-quality analysis of risk;

– real-time data analytics;

– support of spread betting;

– full system administration;

– visualization of trades.

 

Education and Demo Accounts

MahiFX has a number of educational and trading materials on their site. These include:

a)    A comprehensive forex glossary.

b)    Online forex video lessons

c)     A Frequently Asked Questions (FAQ) section

d)    There is also a trading blog in which no topics in forex are considered off limits.

 

Customer Service

MahiFX customer support is available using the following means of communication:

a)        Phone: +44 203 397 1825

b)        Email: [email protected]

[email protected]

e)    Live chat support service

f)     Online email form

g)    Physical Address: 7/77 Gloucester Street, Christchurch 8013, New Zealand.

 

Deposits and Withdrawals

Deposits and withdrawals can be made on MahiFX as follows:

a)    Credit Cards: VISA and MasterCard are methods of conducting credit/debit transactions.

b)    Bank wires are also used for depositing and withdrawing funds.

 

Deposit Limits

There are no minimum or maximum deposit requirements for the bank wire method. For the credit card method, there is also no minimum deposit requirement, but the maximum deposit requirement is 15,000 units of the account currency with a maximum monthly total of 45,000 units of currency. Deposit fees of 2.5% of account deposit will apply for card deposits. There are no deposit fees on bank wires. Card deposits are instant, while bank transfers take 3-5 working days.

 

Withdrawal Limits

The maximum withdrawal limit is 25,000 units of currency and a monthly limit of 75,000 units. The withdrawal processing time is 3-5 days. Card withdrawal fee is $5 while that for bank wires is $15. Card withdrawals must be preceded by verification of the credit card ownership.

 

Conclusion

MahiFX provides only for those traders who can partake of market maker trading conditions. In addition, there is just a basic level of forex education content. Everything about trading on MahiFX is basic, so for traders who just want the most important stuff without all the clutter from the extra stuff, this is the platform to use.