MXTrade is a Belize based online Forex & CFD broker.

The broker offers “$50 No Deposit Bonus” and “100% Deposit Bonus” with MetaTrader4 and other conditions are quite basic.

MXTrade shouldn’t be a wrong choice to be your broker as long as you are following their rules. (I will explain more about it later)

But before you start trading with MXTrade, you must need to know its trading conditions.

Prohibited Trading Activities

MXTrade prohibit some certain trading methods on its trading platform.

If you have traded upon these unauthorized trading methods, MXTrade may cancel these profits and the orders themselves.

Scalping

Scalping trade is defined as “orders which are closed within 5 minutes” by MXTrade. So make sure that you have opened more than 5 minutes before closing any positions.

EAs/Algorithm Tradings

Although MXTrade provides its service through MT4, you are not allowed to use EAs for tradings. Not all EAs are prohibited, but you are not recommended to use any Algorithm programs.

API Tradings

API stands for application programming interface and it acts as a middleman between the trading server and the trader, in order to extract certain market information to give advantages to the traders.

MXTrade does not provide you with the access to their trading server through API nor it is not allowed by MXTrade.

Arbirage

There are some kinds of arbitrage tradings such as “Swap Arbitrage” “Latency Arbitrage” “Bonus Arbitrage”. MXTrade does not allow all kinds of arbitrage trading methods on its platform.

Why MXTrade prohibits such trading methods?

The answer is simple, it is because MXTrade is an OTC broker just like many others.

Merit of trading with OTC brokers is that they offer luxurious bonus promotions because they can afford it.

But demerit of trading with OTC brokers is that there are some unauthorized trading methods just like above.

Some Regulatory Issues before

MXTrade has some issues with some financial regulatory authorities though, the troubles are always about, promoting its brand towards unauthorized countries(where financial license is required).

We can see that MXTrade is not working in bad faith against its traders.

You just need to be careful with the trading conditions specified above, in order to avoid any troubles in the future.

Find out more about MXTrade