MDX500 is an unregulated Forex & Crypto CFD broker, that opened on July 27th 2020. They are now out of business!
For complaints and withdrawal problems, read this article.
Our review of MDX500 shows that they offer their investors and day traders, the Leverate Activ8 web-based CFD trading platform. This trading software is very easy to use and simple for beginner investors and day traders. You can select the leverage amount you would like to use, your Stop Loss, and Take Profit amounts. Also available is the generic Activ8Trader Mobile Apps for iPhone and Android.
There are hundreds of underlying assets available for CFD stock trading. All major and minor currency pairs are available, plus you can trade many Crypto Currency CFD’s on Bitcoin, along with CFD’s on shares of Popular Stocks. Many brokers will offer you a welcome bonus, or free money to trade with. Newbie investors who have never traded CFD’s before, should read the terms and conditions, before accepting a bonus! Most brokers require trading volume of 30 times the bonus, before you can withdraw your money.
The minimum deposit required for a new trading account is $250. Leverage is available of 1:100 on BTC/USD, and their spreads are $8 wide. You can find brokers with tighter spreads, see here.
Scam Algorithm Trading Apps
Do not use an algorithm trading robot, until you read this!
Your trading account is not secure, because the trading app has API access to it.
Is MDX500 a Regulated Broker?
No, MDX500 is not a regulated or licensed broker. The listed address on their website is: Swissmill Tower, Sihlquai 306, 8005 Zürich, Switzerland. On December 7th 2020, the FCA warned users about this broker, read more.
According to their terms and conditions page, they are owned by an Estonian company. Customer support email address is: [email protected], and the phone number is: +41449747070. Official website is: https://MDX500.com/.
The Scam Broker Investigator has reviewed hundreds of online brokers to see if they are a legitimate brokers or a potential scam. The most important item to look for in a broker is a valid license from the government regulators. When investing at a licensed broker, your money is usually insured by the government regulator, and held in segregated bank accounts.
If you are interested in investing with a licensed CFD broker, go look at the list of regulated brokers, look here.
Compare The Best Brokers
Most new investors will choose an established Forex broker, before using an offshore broker.
Start with a Free Demo Account on their easy to use trading app, signup here.
If you are currently investing at the broker MDX500, Please share your experience with this broker in the comments section below.