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Marquis FX Review - Is it scam or safe?

Marquis FX Review - is mqs-fx.com scam or good forex broker?

RATING: 1.2 / 0 REVIEWS
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Trading Accounts & Conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Spread
Classic $100 0.1 1:500 2.5 pips, fixed

 

Marquis FX offers its clients a single forex trading account type – a standard commission-free MT4 one with fixed spreads and leverage up to 1:500. Micro lots are not available for trade to those unwilling to put much at stake.

 

In fact, the fixed spreads offered by this broker are above average, amounting 2.5 pips on EUR/USD. Most fixed-spread brokers offer 2 pips spread for this pair. For further information, you may look up the real-time spreads of 15 leading brokers here.

 

As regards leverage, Marquis FX offers levels up to 1:500, which is not unusual, yet it is considered a high ratio. Keep in mind that using high leverage levels mean greater risk of losses, which may exceed the initial deposit.

 

The Company. Security of Funds

 

Company

Country

Regulation

Marquis FX Limited

Vanuatu

VFSC

 

Marquis FX is an offshore broker that offers trading in forex and precious metals through the popular MetaTrader 4 (MT4) platform. It seems that it targets mainly Asian investors. The company behind the brand, Marquis FX Limited is currently licensed by the Vanuatu Financial Services Commission (VFSC).

 

Vanuatu is becoming increasingly popular for forex and binary brokers start-ups lately. This offshore tax-free destination has very low capital adequacy requirements ($2000) and company registration procedure is fast and low cost.

 

As is usually the case with offshore jurisdictions, financial regulation is in fact reduced to a shiny piece of paper. Licensed companies not obliged to report regularly to any authority, to conduct external audits, to hold clients’ funds in segregated accounts, nor to arrange a compensation scheme in the event of insolvency or default.

 

That is why we generally advise traders to avoid offshore brokers and select among companies licensed in UK, or Cyprus, for instance, where traders have certain level of protection.

 

Trading Platforms

 

Marquis FX offers its clients the leading MetaTrader 4, available as desktop and mobile versions.

 

Engineered with traders’ needs in mind, MetaTrader 4 (MT4) is the most popular FX platform, as it is easy to use and offers a number of technical indicators, extensive back-testing options, advanced charting tools, and wide range of Expert Advisors (EAs), allowing users to fully automate their trades.

 

 

As you can see from the charts above, Marquis FX had some technical issues, probably related to its liquidity providers.

 

Methods of Payment

 

Marquis FX offers its clients the following payment modes: credit/debit card (Visa, MasterCard, Maestro), bank wire transfer, Skrill and China UnionPay.

 

Conclusion

 

Marquis FX is an offshore broker and supposedly a Market Maker that uses the ever popular MT4 platform. The main problem with this broker is that it is not licensed and supervised by a trustworthy financial authority. Besides, its spreads are high. To sum up the above:

 

Pros  Cons
MT4 available Licensed offshore 
Commission-free trading High fixed spreads                                                                                                     
  Market Maker model

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for Marquis FX

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