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Mayzus (UWC FX) Forex Review, Rating, News and Promotions

RATING: 2.9 / 7 REVIEWS Mayzus
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Trading Accounts

 

Account type Minimum deposit   Minimum trade size  Maximum leverage  Average Spreads Platforms
STP Mini  $100  0.01 1:1000  1.5 pips on EUR/USD MetaTrader 4
STP Classic  $2000 0.01 1:1000  1.2 pips on EUR/USD  MetaTrader 4
STP Platinum $20 000 0.01 1:300  0.7 pips on EUR/USD + commission 0.002% round trip  MetaTrader 4
Currenax  $5 000 0.1 1:100 From 0.0 pips on EUR/USD + commission 3 EUR per 1 lot (per side)  Currenax Viking/Currenax Classic

 

Mayzus (formerly United World Capital) offers its clients a variety of account types to choose from, in order to make sure traders of all skill level and portfolio size are well taken care of.


There are several STP accounts on the MT4, offering micro lots for trade, and also ECN Currenax ones, providing the tightest spreads, but involving commission. Most of the STP accounts, on the other hand, are commission-free (except the STP Platinum).


In addition, swap-free (Islamic) accounts are available to clients who are of Islamic belief.


The Company. Security of Funds


Mayzus (Mayzus) is a forex broker, offering online trading in currency pairs, Contracts for Difference (‘CFDs’) and precious metals within STP/ECN trading environment.


MAYZUS Investment Company Limited, doing business as Mayzus, is a Cyprus-based company founded in 2008, which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).


CySEC applies certain rules to license holders, which cannot be compared to the stringent ones imposed by US or Swiss regulatory authorities, however, these rules provide certain level of security and are indicative of good standing in the industry.
First of all, the Commission requires Cyprus-based forex brokers to hold at least €1,000,000 as a proof of financial stability.


Moreover, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, which protects clients’ funds in case of company insolvency up to £20,000 per person.


In addition, as a CySEC-regulated unit, MAYZUS Investment Company ltd. is regulated under the Markets in Financial Instruments Directive (MiFID) and is entitled to provide services throughout the EU under the MiFID Passporting Regime. The company is also registered or authorized by a number of professional and governmental bodies, such as FCA, BaFIN, CNMV.


Trading Conditions


Minimum Initial Deposit

In order to open an account with Mayzus, traders have to invest at least $100. Such minimum initial amount is average. Other Cyprus-based brokers, like FXTM and XM, demand just $5 from its clients as a start for their Cent/Mini accounts. Others, however, require minimum initial deposits, amounting to €1,000 (Sensus Capital).


Spreads & Commissions
This broker offers competitive variable spreads, varying by account category averaged from 0.6 to 1.5 pips on EUR/USD. Generally speaking, the spreads (and commissions) offered on the Currenax and STP Platinum accounts are comparatively low, while the ones on the STP Mini and Classic account are average.


In comparison, XM provides spreads from 1.0 pips on EUR/USD on its Standard commission-free account and Exness offers its ECN account holders with average spreads of 0.4 pips on EUR/USD, incurring a commission of $ 2.5 per standard lot. For further information, you may compare real-time spreads of 15 leading brokers here.


Leverage

The maximum leverage with Mayzus is high, reaching 1:1000. Some jurisdictions cap leverage ratios at considerably lower levels. That is why the broker warns that leverage for clients residing in Poland differs, since the maximum leverage allowed there is 1:100.


The reason for such leverage limitations is that the higher leverage, the higher the risk of losses, which may even exceed initial investments. However, many Cyprus-based brokers offer leverage levels, similar to the ones provided by Mayzus or even higher: XM – up to 1:888, and Exness – up to 1:2000 (the highest available level in the industry). A list of more FX brokers offering leverage equal to or exceeding 1:500 can be viewed here.


In order to reduce the risks associated with magnitude of leverage, Mayzus introduced a risk management application, called Floating Leverage. It automatically adjusts the leverage size to the volume of open positions. For instance, the maximum leverage on MAYZUS Investment Company accounts is 1:1000. This leverage applies until the total volume of open trades equals to $1 000 000 or less. Where the total volume of trades opened exceeds $1 000 000 up to $3 000 000, leverage of 1:500 applies, and so on.


Trading Platforms


Mayzus offers its customers a choice of several trading platforms: the most pop8ular MetaTrader 4 (MT4), Currenax Viking and Currenax Classic.


Currenax is a Java-based platform that focuses on connecting buy and sell side forex traders via ECN electronic currency network (ECN). It provides advanced market depth option and automatic execution on live, streaming prime broker bank prices. Currenax features include a graphic rich display of currency rates, real-time charts, transaction history, communication tools, position and account reporting - all available on-screen.


Currenax Classic is a web-based platform and requires no installation, while the Currenax Viking is a desktop platform.


Mayzus supports the industry’s standard MetaTrader 4, which is the trading platform preferred by most experienced traders. It comes in desktop and mobile versions and provides a number of technical indicators, advanced charting package and a wide range of Expert Advisors (EAs).


Auto Trading strategies allow you to trade the FX markets 24/5 without any user intervention, and without sitting in front of the screen all day. You simply employ EAs to do the trading for you, test history data and generate performance reports. What is more, if you are handy with code, you can even customize your trading strategies, as MT4’s MQL4 is a robust C-language offering a code for optimizing, developing and testing a number of popular EAs.


In addition, Mayzus teamed up with MyFXbook, which provided automated social trade copying services, enabling traders to track, compare, analyze and share their trading strategies.


What is more, the broker offers MICTrader 4 MultiTerminal, developed for simultaneous management of multiple accounts. It is helpful for those who manage multiple investors' accounts, as well as for traders working with multiple accounts at the same time.


Promotions

Mayzus offers its clients a variety of promotions. At the time of writing this review are running the following ones:


- STP Platinum account with initial deposit of just $500, instead of $20 000;
- Rebate program under which clients can get back up to 40% of the spread, depending on the volume traded (1 – 5 lots - $1.5; 5 – 50 lots - $2.0 and so on);
- Zero fees promotion – you can fund your account with no extra charge until 31 December 2016;
- Scalping Wars demo contest with 1150 pool prize weekly.


Methods of Payment


Mayzus’s clients can make deposits to and withdrawals from their accounts via wide range of payment methods: credit/debit cards (Visa, MasterCard, Maestro), bank transfer, cash transfers (via Western Union, Contact, Money Polo), Local deposit, Internal transfers and e-wallet systems, such as Neteller, Skrill, QIWI, WebMoney, OKPAY.


Another cool perk offered by this broker is the UWC Quick Card – a prepaid MasterCard that you can use for personal financing and instant withdrawals from your trading account.


Conclusion


Mayzus is a reputable Cypriot forex and CFD broker offering its customers a large variety of everything – markets, account types, trading platforms, promotions, payment options, you name it. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros  Cons
Well-regulated -
Competitive spreads  
Choice of trading platforms, MT4 available   
Variety of promotions offered  
Wide range of payment methods available  
   

 

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Traders` reviews for Mayzus

Spread

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Slippage

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Requotes

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Price feed

Pros

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Platform

Pros

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Deposit/Withdraw

Pros

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Customer service

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Summary

Pros

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Review for Mayzus

Average broker with average trading conditions and offshore registration. I didn’t get a lot of problems with them, but still I had some big negative slippages and requotes, especially during volatility periods. So i changes it for ECN broker and now using all benefits of trading at real market.

Andrew 09/27/2016

Good broker

It is a nice company, the execution of orders is good. Honestly speaking I never traded during news time so I don't know anything about slippage on orders. My trading style is long term so there isn't any issue about re-quotes.

The withdrawals are fast and online support is also very customer friendly.

Danish Malik 04/13/2016

Fast withdrawals

I have trades with Mayzus for some years and they always process the withdrawal requests on time.

I would rate then as 3 stars on overall.

Matthew Wilson 11/22/2015

Reliable Forex Broker

I have traded in the Mayzus in the STP trading account.

They offer good trading conditions and it is easy to open or close trades as their are no Re-quotes at all.

I can say that i have always got my Withdrawals on time with them.

Charlie Petersson 11/04/2015

failed withdrawal request

This broker doesn't send money in withdrawal request. They will removed your bonus without no reason. They cancelled and blocked my account.

LIMAFX 08/26/2014

For additional detailed trading information about Mayzus, I can recommend checking out ForexChurch 's listing for them :

http://www.forexchurch.com/forex-broker-details.cfm?BROKERNAME=Mayzus

Additionally, you can compare Mayzus Live spreads with other brokers Live spreads here:

http://www.forexchurch.com/forex-spreads.cfm

petter 01/24/2014

Maria

UWC is a professional regulated European broker that constantly improves its services and offers various trading opportunities for its clients. Company has recently added several platforms (Mirror Trader, Currenex); main platform is MetaTrader (4&5). Excellent tech. support, no problems with money deposits and withdrawals, and there are always some contests and bonuses going on.

Maria 12/05/2012
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