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Midtou Financials Review - is it scam or safe?

Midtou Financials Review - is midtoufinancials.com scam or good forex broker?

RATING: 2 / 1 REVIEWS ForexBrokerz Midtou Financials
Midtou Financials 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 $500 0.01 1:500 3.0 pips on EUR/USD

 

We could not find information on the broker's website regarding different account types, so we assume that Midtou Financials offers a single account with fixed spreads and leverage up to 1:500, as well as the option to trade in micro tradeable lots on the renown MetaTrader 4 platform.


Midtou Financials Advanatges:

 

Part of a group with BAPPEBTI license

According to the information on the broker’s website, Midtou Financials is an affiliate of an Indonesian company, which is properly всъехяеа. It operates under the supervision of Indonesia’s Commodity Futures Trading Regulatory (BAPPEBTI). Besides, PT Midtou Aryacom Futures is a member of the Jakarta Futures Exchange (JFX), as well as of the Indonesian Futures Company association, of the Jakarta Futures exchange.

 

MT4 available

Midtou Financials offers its services on the renown Metatrader 4 platform. We consider the availability of MT4 as an advantage, as this platform has proved to be reliable and is enjoyed by both novice and professional traders. The MT4 is highly praised for its great charting package, numerous technical analysis indicators, automated strategies and customization options.

 

>>A list of top MT4 brokers<<

 

Here is a screenshot of Midtou Financials's demo desktop MetaTrader 4 platform.

 

 

Click to zoom-in.

 

High leverage levels provided

Midtou Financials belongs to the large group of brokers that offer high leverage levels, reaching 1:500. Leverage is an integral part of forex trading, as in order to make use of very small currency price fluctuations, traders have to operate with large units of currency. And leverage gives the ability to control much larger dollar amounts in a trade with only a small deposit. Keep in mind that the higher the leverage used, the greater the risk of losses.

 

>>Top brokers offering leverage of 1:500 or higher<<

 

Micro lots available for trade

Although almost all forex broker offer such, it is definitely and advantage to be able to trade in micro lots, especially if you are a beginner. Smaller trade sizes allow for better risk management.

 

Midtou Financials disdvantages:

 

Registered offshore (Belize)

Midtou Financials is operated by Midtou Global Financial Corp. - a company licensed in Belize. We keep warning investors of all the risks involved in trading with offshore brokers. Basically, if you invest with an offshore broker, your money is far from safe.

 

High fixed spreads

On its website Midtou Financials has indicated that its spreads are fixed at 2 pips on EUR/USD, however, when we tried the demo MT4 platform, we found out that they are fixed at 3 pips for this pair. This is not a competitive pricing, as most brokers offer lower spreads. If you are keen on trading with fixed spreads, easyMarkets has a very good offer: all who deposit more than $250, can use 1 pips spread on EUR/USD.

 

Comparatively high initial deposit

In order to open a live account with this broker, one has to make an initial investment of at least $500, which is higher than what most brokers require as a start.

 

Rather limited product portfolio

This broker offfers around 20 currency pairs and precious metals for trade. There are no CFDs on stocks and indices, nor cryptocurrencies available.

 

Conclusion

 

We usually advise traders to stay away from offshore brokers, however the situation with Midtou Financials is slightly different, as it is a part of a group whose other members are properly regulated.

 

Midtou Global Financial is an associate member of Midtou Global Financial Group and affiliate to PT Midtou Aryacom Futures, Indonesia. The latter holds a license from BAPPEBTI - the Indonesian Commodities and Futures Trading Regulatory Authority. It operates under the supervision of the Indonesian Ministry of Finance and is in charge of the operation of various financial institutions.

 

>>More Indonesian forex brokers<<

 

What we like about Midtou Financials is that it uses the popular MetaTrader 4 platform and offers high leverage levels. On the downside, its spreads are wide, and we find the product portfolio rather limited. Besides, the initial deposit required is comparatively high

 

Pros Cons
Part of a group with BAPPEBTI license Registered offshore
MT4 available High fixed spreads
High leverage levels Comparatively high initial deposit
  No CFDs on stocks, indices, cryptocurrencies

 

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Traders` reviews for Midtou Financials

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