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Mira Capital Markets Review - Is it scam or safe?

Mira Markets Review - is miramarkets.com scam or good forex broker?

RATING: 1.1 / 2 REVIEWS ForexBrokerz Mira Capital Markets
Mira Capital Markets is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

  

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads   
Classic $1 000 0.01 1:1000 2.0 pips, fixed
Standard $5 000 0.01 1:200 2.0 pips, fixed
VIP $10 000 0.01 1:1000 From 1.6 pips

 

Mira Capital Markets offers its clients several account types to choose from, depending on the initial investment. All of them provide commission-free forex trading and the option to use micro lots on the MetaTrader 4 platform. Keep in mind that Contracts for Difference (CFDs) are not available on Classic accounts.  Mira Capital Markets also provides money management services with annual interest on deposit

 

Maximum leverage levels provided by this broker are very high, reaching 1:1000. We do not recommend such leverage ratios, because they involve huge risk of losses. Besides, we find the minimum initial deposit required by Mira Markets high, amounting to $1000, while many duly regulated award-winning brokers require less or none at all (IG, for example).

 

As regards trading costs, this broker offers commission-free trading with fixed spreads, amounting to 2 pips on EUR/USD, which is average.  There are, however, some fixed-spread brokers that offer better spreads and are properly regulated - easyMarkets for example.

 

The Company. Security of Funds

 

Company

Country

Regulation

 Mira Capital Markets Ltd.

Ajman Free Zone (UAE)

N/A

 

Mira Capital Markets is a MT4 forex broker with extensive product portfolio, including over 50 currency pairs, and various CFDs on indices, commodities, shares and bonds. Although it claims to provide ECN execution, we doubt this is true, as it offers fixed spreads, which is typical for market makers.

 

The company behind the brand is registered in the Ajman Free Zone, which is a rather exotic destination. This is a free trade zone with autonomous status, one of seven emirates in the United Arab Emirates located on the Arabian Peninsula and in the Persian Gulf. There is not much information about the rules applicable to financial services providers in this zone and we suspect that situation there is similar to the one in offshore zones.

 

You’d better choose a forex broker among those licensed by UK’s FCA, Cyprus’ CySEC or by other trustworthy financial regulator, where client protection rules apply and where real supervision is exercised over the provision of financial services.

 

Trading Platform

 

Like most brokers, Mira Capital Markets supports the MetaTrader 4 (MT4) platform, available in all forms and shapes.

 

MT4 has been around for over 10 years and it seems its popularity is not going away, although its developer is trying to out-phase it and focus on its successor, the MetaTrader 5. MT4 is easy to use, and yet offers full set of professional trading tools: advanced charting, a number of technical analysis indicators, extensive back-testing environment, and various automated trading (EAs).

 

Methods of Payment

 

Mira Capital Markets offers its clients the following payment methods: bank wire transfer and via credit/debit cards, as well as e-payments Qiwi, Yandex.Money and Perfect Money.

 

Conclusion

 

Mira Capital Markets is a forex and CFD broker that supports the MT4 platform. We would not recommend it, as it is loosely regulated, and we suspect that it acts as market maker. Besides, it requires comparatively high initial investment. Here are, in a nutshell, the advantages and disadvantages of Mira Capital Markets:

  

Pros Cons
MT4 available Loosely regulated and supposedly a market maker
Extensive product portfolio High initial deposit required
Commission-free trading Dangerously high leverage levels provided

 

Latest news about Mira Capital Markets
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Traders` reviews for Mira Capital Markets

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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No inviertan

Haganse un favor, no inviertan con ellos, solo les interesan inversiones de 15,000 dls, de lo contrario funden tu cuenta

Translated by Google:

Do yourself a favor, do not invest with them, interested only investments 15,000 dls, otherwise melt your account

Gregorio Marquez Palacios 11/23/2017
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