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Mayzus No Longer to Offer Trading on Metatrader 5

Mayzus, the CySEC-regulated Forex broker, will stop supporting the Metatrader 5 trading platform from January 31, 2014. 

 
The company admits that the MT5 has numerous advantages over its popular predecessor Metatrader 4 – we may mention the wider clientele it targets with improved capabilities to trade stocks and commodities. However, Mayzus mentions the weaker than expected take-up for the platform as the main reason to stop offering it to traders. Amid the purported factors for the low demand is the incompatibility of many expert advisors (EAs), the Forex robots that trade instead of human beings on platforms, with MT5. Then, the platform is not friendly to hedging, which has also been enlisted among the reasons for traders not warming up to it. 
 
Mayzus is now focusing all of its efforts on MT4, the industry's favorite child, if we may say so. The broker is launching a promo STP account for users of the platform, which comes with:
- a reduced requirement for an initial deposit – now it's at $250;
- the ability to trade with a minimal trade contract size of micro lots (0.01 lots);
- floating leverage of up to 1:300.
 
On the downside, I must say that the spread size did not impress me at all, actually – it drives me away from this account type. The spreads are floating and they are quite wide. For instance, the average spread for the EUR/USD is whooping 9 pips, while the minimum is 7 pips! Well, I'd personally either opt for a different account with Mayzus with fixed spreads or look for a broker that offers tighter variable spreads and STP execution. One example is Trading 212, the European FX broker which recently axed the floating spreads on the EUR/USD pair to 0.9 pips. Anyway, choice is yours!
 
Regarding Mayzus, we hope that its renewed focus on MT4 will lead to more improvements in the trading conditions. 
 
 

About MAYZUS Investment Company

 
MAYZUS Investment Company is a Forex broker registered and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers a wide range of trading platforms, including ECN and STP ones, fixed and variable spreads starting from 2 pips and leverage of up to 1:500. MAYZUS Investment Company's clients enjoy an excellent customer support team, various bonuses and promotions, and a rebate program. The company's technological infrastructure is designed to support an around-the-clock trading environment with almost 100% uptime. Systems are rigorously tested and connected through multiple Tier 1 Internet Service Providers, ensuring uninterrupted connectivity for clients worldwide.
TAGS: mayzus  mayzus investment company  mayzus forex broker  metatrader 5  mayzus mt5  forex platform  forex trading  cyprus forex broker  stp account  forex account 

More news about Mayzus

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
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cTrader
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Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
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UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
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