One of the leading Australian and NZ forex brokerages and a global technology provider, MahiFX, has acquired a license from UK’s Financial Conduct Authority (FCA). This is the third authorization the MahiFX group gets to act as a financial services provider, as it is already regulated in Australia and New Zealand.
The information in the FCA’s register shows that the company can deal in CFDs, futures, options rights, spot FX and spread betting commodity futures and options both as an agent and as a principal.
A license from UK’s financial watchdog means a lot, as FCA’s regulations are one the most stringent ones. UK-based brokers are obliged to hold and maintain at least €730 000 in order to operate legitimately, to keep client funds in segregated accounts and to report to the authority on a daily basis. What is more, FCA-regulated companies are under the umbrella of the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person, in case the company goes bankrupt or ceases trading.
MahiFX providеs its technology services to both retail and institutional clients with the company’s fundamental products MFX Compass and MFX Vector. MFX Compass provides market makers and brokers with the full set of tools required to set up and run a forex trading brokerage, while MFX Vector allows users to identify and minimise their trading costs using market making technology.
MahiFX was founded in 2010 offers more than 100 instruments for trade on two trading platforms –the renown MetaTrader 4 and its in-house platform. The broker provides leverage of up to 1:100 and requires no minimum initial deposit.