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MLNFX
Rating: Rated with 1 star
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
0.001 lot
Regulated Broker
No

MLNFX Broker Review

  1. MLNFX

    Founded in 2018, Millennium-FX (MLNFX) is an unlicensed Forex broker offering a dynamic trading environment on the flexible and efficient MT4 platform. As well as multiple tradeable products, MLNFX provides customers with a choice of trading accounts, delivering fast, high quality trade execution. Every type of investor, including clients in South Africa, can enjoy trading at MLNFX with the variety of tools, methods and styles provided on the platform.

    MLNFX Trading Account Types

    Four types of trading account type, are offered by MLNFX, designed to meet the needs and experience of every global trader. All account holders are given unlimited access to the MT4 trading platforms with inbuilt guidance in multiple languages.

    What’s more, voluntary promotional bonuses are an ongoing feature at MLNFX, starting with deposit bonuses offered on account registration, and on various occasions thereafter. Customers in South Africa and elsewhere, need to remember that all bonuses have terms and conditions attached, usually requiring that a specified trading volume must be executed before funds can be withdrawn from the trading account. Readers should consider the terms carefully before accepting bonuses as they cannot be removed once they have been accepted.

    MLNFX Beginner Account Features

    • $250 minimum first deposit
    • Floating spreads from 1.2 pips on futures trading
    • Contact with an account manager
    • Minimum lot size of 0.001 micro lot
    • Daily economic analysis provided
    • Access to mobile trading platform
    • 24-hour support

     

    MLNFX Silver Account Features

    • $5,000 minimum first deposit
    • Contact with an account manager
    • Floating spreads from 1 pip on futures trading
    • Minimum lot size of 0.01 micro lot
    • Daily economic analysis provided
    • Free VPS service
    • 24-hour support

     

    MLNFX Gold Account Features

    • $25,000 minimum initial deposit
    • Assigned account manager
    • Fixed spreads from 0.8 pips for futures trading
    • Minimum lot size of 0.01 micro lot
    • Daily economic analysis provided
    • Bank wire transfers done free of charge
    • 24-hour support
    • Mobile trading

     

    MLNFX Diamond Account Features

    • Minimum initial deposit discussed with an account manager
    • Fixed spreads to be discussed with an account manager
    • Account manager assigned
    • Minimum lot size of 0.01 micro lot
    • Daily economic analysis
    • Bank wire transfers done free of charge
    • Free VPS service
    • Mobile trading
    • 24-hour support

     

    MLNFX Trading Software

    Customers at Millennium-FX get access to the MT4 trading platforms, securely accessible from internet connected desktops, tablets and phones. Tradeable assets include FX currency pairs, cryptocurrency pairs, indices, stocks and commodities. The award winning MT4 is the most popular Forex and CFD trading platform in South Africa and across the entire world. Notably it uses very few resources, keeping execution speeds ultra-fast.

    MLNFX MT4 Desktop Platform Features

    • Designed for all levels of trading experience
    • Powerful and precise trading system
    • Must be downloaded to PCs with Windows operating systems
    • 3 trade execution modes with one click trading
    • Easy entry of orders
    • 9 time frames
    • 30 pre-loaded technical indicators
    • 24 graphic objects
    • Advanced charting packages
    • Automated trading with Expert Advisors
    • Trading signals
    • Built in programming language
    • Copy trading possibilities
    • Multi-lingual support

     

    MLNFX MT4 WebTrader Features

    • Trade from the browser of devices with Windows, Linux or Mac OS
    • No software down-load
    • Part of the desktop solution
    • All the advantages of desktop trading
    • 30 technical analysis indicators
    • Complete set of trading operations offered on desktop
    • One-click trading
    • Real time quotes from Market Watch
    • Trading history
    • Encryption of all transmitted data

     

    MLNFX Mobile Trading Platforms

    Traders can choose to download the MT4 mobile trading app OR opt for the MLNFX mobile trading app. The mobile trading platforms share outstanding features enabling seamless trading on the go, using Android and iOS powered tablets and phones.

    • Easy touch-trading
    • Market and conditional entry orders
    • Set stops and limits
    • Live quotes with real time streaming of prices
    • Interactive charts
    • Real time charting
    • Account management
    • Edit open positions
    • Balance, equity, margin information and more
    • 30 technical indicators (MT4 only)
    • Automatically synchronises to desktop platform
    • Close positions, set stops and limits
    • Multiple time frames
    • Shows detailed summaries of all closed positions
    • View trading history

     

    Trading Cryptocurrency CFDs at MLNFX

    Trading in cryptocurrency CFDs enables traders to profit from the volatile cryptocurrency markets without needing to buy the physical assets themselves. Millenium-FX gives traders the opportunity to trade in both, up and down price directions of a large number of cryptos, potentially profiting from changes in their relative values. We saw that MLNFX offers CFD trading in Bitcoin, Ethereum, Litecoin and others, against USD and EUR. One of the greatest advantages of trading in crypto CFDs is not being ‘stuck’ in illiquid markets with crypto assets that may not be sold rapidly. By trading in crypto CFDs, traders can manage their positions as they see fit, opening and closing positions at will. Importantly, CFD trading with MLNFX, allows customers to use Stop-loss and Take-profit risk management tools, enabling them to close positions automatically at pre-determined levels.

    MLNFX Customer Services

    Customer support is available 24/5 directly from the interface, using the live chat helpline or by telephone which can be expensive, especially for customers living in South Africa. A free way to get in touch with the support team is to submit the available contact form and wait for a phone call or email. Alternatively, clients can send an email enquiry directly. We were disappointed to see that MLNFX does not have a FAQs section, making everybody reliant on the customer services team for even the most routine enquiries.

    However, MLNFX does provide an impressive amount of educational material to customers with registered accounts. The free training materials include eBooks about trading Forex, cryptocurrencies, stocks and CFDs. Moreover, for customers who prefer visual training, there are dozens of well-explained video tutorials covering Forex and crypto trading. We saw that lessons in the fundamental trading psychology, choosing trading strategies and the interpretation of financial indicators are also provided. Easy to follow, step-by-step video tutorials take customers through the MT4 platform features for desktop and mobile trading.

    MLNFX Payment Methods

    The Payment methods accepted by MLNFX are diverse, giving all traders a straightforward, secure way of depositing and withdrawing money from their trading accounts. We saw that payment methods include bank wire transfer and the credit/debit cards, Visa, Mastercard, American Express and Diners Club. Several fast, online electronic payment methods are supported including, Sofort, WebMoney, Skrill, Neteller and Poli. Clients in South Africa may be shown additional locally available payment methods, when they register a trading account with MLNFX.

    We noticed that the withdrawals process at MLNFX is quite long and complicated. Firstly, the designated withdrawal form has to be filled in, printed, signed with a pen, then scanned and submitted to MLNFX by email. Even then, the withdrawal request won’t be processed until the customer sends copies of an official ID and a recent utility bill, to the compliance officer at MLNFX. Subsequently, processing requires 3-5 business days, and more time after that for customers to receive their money. On the plus side, customers can withdraw a minimum of £$€50 per transaction and don’t pay withdrawal fees on the first withdrawal of the month. Processing and handling fees for further withdrawals in a calendar month are not disclosed on the website.

    MLNFX is an unlicensed broker, operated by South Beach Technologies Ltd, incorporated under the laws of the Marshall Islands under number 90776. The registered address is at the Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH9696. Landscape Marketing Ltd, provides the payment clearing services for MLNFX.

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