Home / Forex / Almahfaza Review

Almahfaza Review

Pros Cons
Zero commission and fees MT4 is only available for Gold and Platinum accounts
Simple, responsive and intuitive ParagonEx trading interface on web and mobile platforms Few indices available to trade
WisdomHub™ Live Feed The USD is the only available currency for traders’ accounts
Over 300 financial assets available to trade
Islamic trading account
Remote assistance available with TeamViewer QuickSupport

General Information

Progressive Tech Limited (Registration Number 90770) is the legal holder of the trade name, Almahfaza Global and it is incorporated in the Marshall Islands.

Almahfaza is a relatively new online trading broker specialising in CFDs and Forex trading with a leverage of up to 400.

It also offers CFDs on the most popular asset classes such as commodities, stocks, ETFs and indices. In total, traders can invest in over 300 different instruments.

In addition to trading these assets on the popular MetaTrader4 (MT4) platform (developed by MetaQuotes Software Corporation), traders also have access to intuitive, robust and user-friendly web-based and mobile ParagonEx trading platforms, making the investment experience with Almahfaza constantly available.

As Almahfaza is a regulated broker, traders will need to verify their identity to respect KYC (Know Your Customer) and due diligence procedures. Almahfaza also complies with AML laws and regulations to prevent money laundering and terrorist financing.

In our Almahfaza review, we’ll focus on the following points: security of funds, the accounts available, the WisdomHub™ Live Feed and finally, bonuses and promotions.

 Security of funds

When a firm receives money from a client, it has the upmost duty to respect and protect it. In this case, Almahfaza is no exception.

Simply put, Almahfaza does everything it can to protect its clients’ money.

This broker works with top-tier banks, ensuring the safety of client funds at all times. In addition, this firm will always keep its clients’ money in segregated accounts. This way, Almahfaza will not be able to use it for any business expenses. 

Accounts available

Almahfaza offers different trading accounts depending on the traders’ needs, the amount of trading capital they have and their faith.

When it comes to trading, Islamic accounts should always be Sharia compliant. These accounts allow Muslim traders to enhance their capital in respect to their faith. Interest and swaps on overnight positions (riba) must therefore not be charged.

Muslim traders can use the Almahfaza trading platforms in accordance with Sharia Law and the Quran as the broker offers a Swap-Free accounts.

WisdomHubLive Feed

Almahfaza believes that traders shouldn’t “go blindly into the market” – instead they should use “the wisdom of the masses” to make better trading decisions.

Every trader knows that knowledge is power – having the right information at the right time can make all the difference between a loss and a profit.

For this reason, the broker has developed a proprietary technology called the WisdomHub™ live feed. This groundbreaking technology is based on the idea that traders should trade with the trend, rather than against it.

While trading with Almahfaza, traders have access to a live feed anywhere, at any time. This live feed gathers the most important market information and trends to help traders create better trading strategies based on usable real trends directly observed in the market’s activity.

The most significant market activity alerts found in the trading platforms within the WisdomHub™ live feed include:

  • Trending
  • Volume growth
  • Volatility spotted
  • Turnaround
  • Going up
  • Going down
  • Increase in openings
  • Economic events
  • Market news 

Bonuses and Promotions 

When choosing to trade with Almahfaza, traders receive different rewards through bonuses and promotions. 

Phone verification 

This bonus is one of the easiest and fastest to get – traders just need to verify their phone numbers to receive a $50 bonus into their trading accounts.

It’s very simple!

When traders register and log in to Almahfaza, they are asked to enter their mobile phone number, wait for a text message with a 4-digit code and enter this code into the dedicated box in the platform. 

Cashback 

Almahfaza rewards its most active traders with a Cashback system. This program rewards traders with cash bonuses depending on their trading activity.

To participate in the program, they must complete a target during a specific time period. As soon as that target is completed, traders are able to claim their cashback and move on to the next target.

Refer a friend

The Refer-a-Friend program is another way to make money with Almahfaza. If a trader is using Almahfaza and thinks that he/she knows someone who might be interested in its services, he/she can refer it to them.

Every time a trader brings someone new to Almahfaza, he/she therefore receives a cash reward directly in to his/her trading account.

If the initial deposit of the referred friend is between $500 and $1,000, the trader will get $100. If the initial deposit is between $1,000 and $10,000, the trader will get 10% of the amount.

Conclusion

Our Almahfaza review has taught us that this broker focuses on offering the best services, platforms and trading conditions to its traders. What’s more is, it charges no commissions or fees – it only makes money on fixed spreads.

As an STP (Straight-Through-Processing) broker, Almahfaza only passes its clients orders to liquidity providers through ECNs (Electronic Communications Networks). This way, the broker’s interests are aligned with its traders’ as it does not hedge its clients positions (hence no conflict of interest) and is able to provide the best priced execution possible (better and cheaper trading execution for its clients).

Almahfaza, only available in English and Arabic, also makes sure that users from the Arab world can benefit from trading conditions that adhere to the laws of Islam. Moreover, the world’s most popular trading platform, MetaTrader 4 is available to them.

MT4 targets all kinds of traders, including beginners and professionals. It essentially meets the needs of those who want to trade the most popular financial instruments through a robust, world-class and reliable platform.

About Abram Jayce

Check Also

Indicators should never be your key tools

We are not only talking about the indicators of the price charts. This article is ...