MainGroupFX offers CFD trading services for a global audience of people interested in financial markets. Its approach relies on advanced tech, safety of funds, professional support and useful educational tools, all of which are key when engaging in such a competitive industry.
Traders should pay attention to multiple features when deciding what the best broker for them to trade with is, which is why we have analyzed MainGroupFX. Our review should serve as a starting point for those eager to learn more about what this brand can offer.
The trading instruments covered by MainGroupFX are CFDs, providing complete freedom in both rising and falling markets. Right now customers can choose between CFDs based on currency pairs, shares, indices, metals, energies and more.
Maximum leverage ranges between 1:50 and 1:300, depending on what account type you hold. Additionally, you must consider that for volatile instruments such as stocks, leverage is capped at 1:5.
In terms of trading costs, MainGroupFX charges spreads, commissions and overnight swaps. Except for overnight swaps, these are also variable, influenced by market liquidity as well as specific account conditions.
Every user can open a demo account and trade with virtual funds until consistency is achieved. There are no risks involved and this is a good way to learn how to trade without worrying about live market exposure.
Moving on to live accounts available with MainGroupFX, Silver, Gold, Platinum and VIP are the options currently. Base currencies accepted are USD, EUR and GBP, so clients can choose the one that’s more convenient for them. Payments can be processed with a credit card, debit card, or bank wire.
Getting started with a Silver account is cheap because the minimum deposit is only $250. The threshold increases for other larger accounts, but at the same time, spreads get cheaper, commissions drop and the leverage increases.
Our recommendation is generally to work only with regulated trading brands, because that way you can be sure that an official body is overseeing your broker’s activity, and making sure that privacy and security standards are kept. That’s why we were pleased to see that MainGroupFX is licensed and holds an Australian Financial Services Licence to operate, issued by the Australian Securities and Investments Commission. This is yet another huge positive sign about this broker’s capabilities.
News and other resources
How are the markets today? That is a question that every trader should ask themselves before making decisions. Well, MainGroupFX constantly updates its website with the latest financial news. On top of that, the economic calendar shows the latest indicators that are about to be published.
Traders have access to daily market analysis, market insights and live forex seminars, all of which can be helpful to better understand the current situation inside a broad context. Beginners are advised to read the e-Books or the glossary in order to get familiar with some basic trading terms.
MainGroupFX entered the retail trading space with ambitious goals and that might be the reason why traders choosing to work with the brand can unlock numerous benefits. The brand went for a personalized approach, incorporating updated market information, safe technologies and fast customer support. Opening an account is not out of reach, since the minimum deposit requirement is set relatively low. This is a welcoming place for various types of traders, given their needs are addressed independently.