Mib700 Review – is it scam or safe? explained by professional Forex trading experts the “ForexSQ” FX trading team.
Mib700 Review – is it scam or safe?
Mib700 has three types of live trading accounts, as well as money management accounts and swap-free Islamic accounts. The broker also offers a free demo account for testing purposes.
The asset portfolio of Mib700 includes 60 forex pairs and CFDs on commodities, stocks and indices.
The information about the ownership of Mib700 is a bit confusing. In the fine print at the bottom of the site it says it is owned by Blonde Bear OU from Estonia. The terms and conditions section, on the other hand, states that the brand Mib700 is owned by the corporation of Blue Seal Ltd. Try as we might, we cannot imagine a blonde bear or a blue seal, but either way, the broker is not regulated and this means it should be avoided, as a general rule.
We always advise our readers to choose brokers with proper regulation and robust supervision exercise by national financial markets and service providers watchdogs like UK’s FCA or the Australian Securities and Investment Commission (ASIC). Overall, trading with regulated brokers is less risky than with unregulated ones, as they generally stick to strict rules and requirements and offer a better level of customer protection.
Mib700 is one of the growing numbers of forex brokers offering trading on the platform MetaTrader 5. Despite it being still in the shadow of its predecessor MetaTrader 4 (MT4), MT5 is gaining popularity, especially after the introduction of the hedging option in the spring of 2016.
MT5 is more advanced than MT4, but has most of the well-familiar and loved features of its predecessor. Additionally, MT5 allows trading in futures, options and shares, in addition to CFDs and forex.
Mib700 offers several types of promotions for its clients. All of them are subject to additional conditions on trading volume and deposit size.
Methods of payment
Mib700 accepts payments through bank transfer and credit and debit cards, but not through online payment systems like PayPal or Skrill, for example.
Mib700 Review – is it scam or safe? Conclusion
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