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MBA Trade Review - Is it scam or safe?

MBA Trade Review - Is mbatrade.com scam or safe forex broker?

RATING: 1.1 / 13 REVIEWS ForexBrokerz MBA Trade
MBA Trade is an offshore broker. Your money is not safe.

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Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $100 0.01 lot up to 500:1 2.5 pips fixed
Premium $100 0.1 lot up to 500:1 1.5 pips fixed
Universal $100 0.01 lot up to 500:1 1.9 pips variable
Pro STP $1000 0.01 lot up to 500:1 0.8 pips + 0.0025%

 

*Trading conditions according to the information on the website.


MBA Trade offers four types of accounts: Standard, Premium, Universal and PRO STP, plus a free demo account with up to $50 000 virtual money. The Standard and Premium accounts are commission-free with fixed spread, while the Universal and Pro STP ones offer variable spreads and are referred to as ECN accounts.

 

There are also Islamic accounts with additional swap-free option where no swaps or rollover interests are charged during overnight positions, as per the Islamic Sharia law where extra rewards (swaps) are forbidden.


There are six types of instruments to trade in: forex, precious metals, energies, agricultural products, indices and cryptocurrencies (Bitcoin, Ethereum, Litecoin and Ripple).

 

When we tried out MBA Trade’s demo MT4 platform, there weren’t any cryptocurrencies available for trade and the spread on EUR/USD was fixed at 3 pips. First of all, such spread is not consistent with the any of the above account types, which means that MBA Trade does not provide transparent pricing. Second, a 3 pips spread is very high. By comparison, easyMarkets, a broker licensed in Cyprus, offers fixed spreads at 1 pips on EUR/USD.


The Company. Security of Funds

 

 Company  Country  Regulation
 MB Alliance Ltd  Georgia, UK?  No

 

According to the information on the broker’s website, MBA Trade is owned and operated by MB Alliance Ltd. – a company based in the Republic of Georgia, or at least it claims so, but it does not appear to be regulated there or anywhere else. Besides, it provides a phone number with the country code of UK and claims to maintain offices in Qatar, Indonesia, Philippines and Brazil.

 

When we downloaded the broker’s MT4 platform, however, we found it is provided by another company – PT Millennium Buana Artha. We googled it and the firm appears to be a major shareholder in MB Alliance Ltd.

 

The above said is a strong signal for potential clients to be extra careful, as the company may be a scam.
Even though not all unregulated brokers are fraudulent, investing with them is generally risky, as they do not abide by any rules and requirements.

 

Generally, it is highly advisable that potential clients do a thorough research before investing their hard-earned money and do not fall for “get rich fast” promises. Instead, they should choose a broker regulated by reputable financial watchdogs and avoid like the plague unregulated ones.
 

Trading Platforms
 

MBA Trade offers trading on the immensely popular MetaTrader 4 platform. It lets users develop and implement their own strategies, place market and pending orders, trade from a chart. The platform features instant execution, stop orders and trailing chart, tick chart, trading history, and technical analysis tools.

 

 

MBA Trade’s desktop demo MT4. Click to zoom in.

 

Methods of payment

 

MBA Trade's clients can fund their accounts through bank wires, with credit/debit cards (Visa, MasterCard, Union Pay) and through the electronic payment systems PaypalSkrill, Payeer and multipayment with OKPAY, etc.

 

Conclusion

 

MBA Trade is an unregulated forex and CFD broker, whose headquarters are unclear. It offers trading on the MT4 platform, but trading conditions on demo account differ from the ones announced on the website. To Sum up the above:

 

Pros: Cons:
MT4 available Unregulated broker, headquarters unclear
, STP/ECN accounts available Deposits are not guaranteed
Swap9free account available  Lack of transparent pricing
   

 

Latest news about MBA Trade
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Traders` reviews for MBA Trade

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

I Love MBA

Theres lot of broker in this world, and i already trade many times with other brokers but since i found mbatrade 8 months ago and start trading with mba since 7 months ago, finally i found this is the best broker for my trade.

In the weekend market close their spread not like other brokers can widen very higher, with mba the spread is very best, widen is normal but very tight. Normal spread 0.2 pips, weekend market close widen only 0.3 pips (eurusd).

Wm lam 02/12/2017

Great forex broker! 5 Stars for MBA

When you are looking forex broker with fixed and low spread, i'm pleased to highly recommend mba is one of the best broker you can choose. I have been trade with this broker since June 2016 and until today no issues with this broker. They offers fixed spread in all market condition without re-quote, fast execution, free swap and free commission. Withdrawal? No more doubt! they process your withdrawal very fast.

Adrianus putra 01/13/2017

Best ECN forex Broker

If you looking tighten spread i personaly high recomend MBA. This broker have a good and tight spread for ECN in any market conditions. I have been trade with many broker but i didnt find like MBA, MBA ECN spread really stable, this is the true ECN forex broker!

Other that, withdrawal very fast processing, fortex mt4 web trader also one of the best web trading platform their offers to client with the best market depth.

Louise 12/31/2016

Don't be negative

I'm literally stuck by so many negative comments to MBA and I just have to say even though I normally mind my own Business most of you negative people are mocking a reliable forex trading broker.

It does not take a rocket scientist to give the information they are asking for. All My transactions went smooth. If they ask for something I give it to them and have no problems.

Buy and selling is fast and editing my TP and SL is efficient. most of you sound like beginners that are complaining, I've tried multiple brokers and they all ask for this kind of paperwork, I mean you can even use PayPal or Skrill to deposit your funds... it's so simple.

I have not had any issues with MBATRADE. I use demos as well of other brokers and still I believe MBA is TOP Tier. I've been called by them just so they can ask how I'm doing and if I need assistance, this broker takes care of you and values you. If you're looking into a reliable broker don't listen to the negative people gain your own first hand experience, be smart and follow instructions. I will stand behind mbatrade as I've had great experience with them.

Ng Sui Lan 12/29/2016

No doubt with this brokers [MBA]!

The best ECN forex trading account provided by MBA, Very tighten spread that i've seen not like other with the lowest spread promo but the fact is high widen spread.

i personally very high recommend MBA is the best place to trade and very comfortable trading environment.

Mohammed Araju 12/25/2016

Reliable forex brokers!

Very High Recommended!
We are trader community in Thailand, Malaysia and Indonesia have been trade with many brokers till today. Since 4 month ago we had live account with MBA and for us as a partners, this is reliable forex brokers!

Altough as a new comer, we feel this broker is really good for us, high rebate, fast withdrawal, very professional support, and best MT4 trading platform they have it. No one like this brokers can give client and partner with comfortable environment.

WIFX 12/20/2016

Very satisfied and Recommended highly

The support this broker offers is exceptional.
There are few brokers I can trade with and I am very happy with this brokerage. No issues with execution, withdrawal not more than 24 hrs or anything. Recommended highly!

Wen Ming 12/19/2016

The new generation forex broker

This broker has many advantages. First i have to say about withdrawal. They are fast and without delays. It's some kind of challenge when you looking broker which honestly fulfills obligations which are set out on the website. Other reason, MBA gives complete freedom in the choice of a trading strategy and excellent speed of processing orders. This is my choice and I highly recommend this broker to all traders.

MF Tan 12/18/2016

Best Forex Broker For Malaysia People

MBA is a really good broker to my investment in forex and my practice here, I totally recommend this broker to all of you, they have fast deposit and withdrawal process, best trading platform (MT4 & web based trading platform). It's seem serious company.

Michelle 12/17/2016

Very satisfied

overall i'm pleased with this broker, they have very stable trading platform, fix spread in any condition, high speed of execution, no requote and fast withdrawal.

Minus Less bonus :d

Anthony Salim 12/16/2016

My Lovely FX Broker

Benar benar sebuah perusahaan berskala international dan sangat profesional dalam membina hubungan jangka panjang antara IB dan klien. Meskipun saya baru bergabung dengan MBA (Sejak April 2016) sebagai IB tidak pernah saya temukan broker forex yang seperti ini, Penawaran spread yang cukup rendah, penarikan dana yang cepat membuat klien saya semakin mantap bersama MBA, thanks MBA, you really have a good reputation then others....! and you also help me to achieve my dream :)

Halim Kuswaramurti 12/12/2016

For Me is Good Broker

I have been trade with this broker since 5 month ago and so far i with my client also never disappointed with this broker. Especially Fund Withdrawals and commission withdrawal never late. They keep their commitment to process same day.

Varen Fransiscus Xaverius 12/09/2016
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