Millennium FX (mlnFX) was an unlicensed Forex & CFD broker that is owned and operated by South Beach Technologies LTD. They are now out of business!
MLNFX is located at; Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. Contact phone number is:+1 437 370 1807, and customer support email address is: [email protected]. Official website: https://www.mlnfx.com/.
For complaints and withdrawal problems, read this.
MLNFX Review
A review of the new Forex broker MLNFX shows that they give investors the classic MetaTrader4 trading platform. There is available both the desktop standalone version, along with the web based and mobile versions. The web trading platform is made by the PandaTS company.
You will find hundreds of underlying assets available for trading CFD’s, including all the popular Crypto Currency Pairs, Bitcoin, Ethereum, and Classic Forex Pairs. Their website and customer support is currently only available in English. Maximum leverage on Forex pairs goes as high as 100:1, and spreads on the Euro Dollar pair are as low as 1.2 pips.
With Bitcoin, the spread was $500 when we last checked. You can choose from four different account types, with the minimum deposit for a Beginner Account being $250.
Does MLNFX Have a License?
When the Scam Broker Investigator reviews a new Forex broker to determine if they are a scam or legitimate company, the first thing we look for is a valid brokers license. Forex brokers in Europe are usually licensed by the FCA in United Kingdom or CySEC in Cyprus. On May 2nd 2019, the FCA warned investors not to use this broker, see here.
No, MLNFX is not a licensed broker.
Investors always trade with a licensed broker to be sure that their money is stored in in segregated bank accounts. If you want to see how the scams operated you can read this.
Compare Forex Brokers
Smart investors always review a few different Crypto Currency / Forex brokers, before making a final choice.
ForTrade is the best broker for new investors to start with. They are a legitimate broker, that is regulated by the FCA & ASIC, look here.
Try a Free Demo Account, on their awesome trading platform, signup here.
If you are currently investing at this broker, please share your experience in the comments section below.