Company Name
Mohicans Markets Limited
Company Abbreviation
MH Markets
Platform registered country and region
Saint Vincent and the Grenadines
Company website
X
YouTube
Company summary
Pyramid scheme complaint
Expose
| MH Markets Review Summary | |
| Founded | 2021 |
| Registered Country/Region | Mauritius |
| Regulation | ASIC, SCA (Exceeded) |
| Market Instruments | Forex, Commodities, Metals, Indices, Stocks |
| Demo Account | ✅ |
| Spread | / |
| Leverage | Up to 1000x |
| Trading Platform | MT4, MT5 |
| Social Trading | ✅ |
| Minimum Deposit | USD 50 |
| Customer Support | Live chat, contact form |
| Tel: +971 4 364 8900 | |
| Email: support@mhmarkets.com | |
| Registered address: 152 Franklin Roosevelt Avenue. Limassol, 3045, Cyprus | |
| Operational address: Burj Al Salam Tower, Sheikh Zayed Road, Dubai - UAE | |
| Restricted Regions | United States of America, Canada, Iran, Iraq, Democratic People's Republic of Korea (DPRK), Belarus, Australia, Malaysia, Myanmar, Russia, and Taiwa |
MH Markets Information
MH Markets was registered in Mauritius and has a global presence. It mainly focuses on trading services in forex, commodities, indices, cryptocurrencies, shares. It offers a demo account for practicing and 3 tiered live accounts.
In addition, traders can enjoy top-notch trading experience with the industry-leading MetaTrader 4 and 5 platforms. And the broker allows for social trading so investors can quickly start to win profit by following and interacting with successful predecessors within communication communities.
Furthermore, you can also win bonus by participating the broker's promotion programs such as trading bonus, cashback rewards and loyalty gift promo.
Another good thing is that the company is currently regulated by ASIC and SCA, which means its financial activities are strictly watched by these authorities, to some extent guarantees a certain level of customer protection. However, you should be cautious because the VFSCregulation status is exceeded.
Pros and Cons
| Pros | Cons |
| Regulated by ASIC | Exceeded SCA regulation |
| MT4 and MT5 platforms | |
| Demo accounts | |
| Promotion programs | |
| Affordable minimum deposit | |
| Social trading |
Is MH Markets Legit?
MH Markets is currently being well regulated by Australia Securities & Investment Commission (ASIC) and SCA (Securities and Commodities Authority) with license no. 000455388 and 20200000159 respectively.
However, one crucial point to note is that the broker currently exceeds the scope of its SCA regulation, suggesting that it might be engaging in financial activities beyond what is legally permitted by the SCA.
| Regulated Country | Regulator | Current Status | Regulated Entity | License Type | License No. |
 | ASIC | Regulated | MOHICANS MARKETS CAPITAL PTY LTD | Straight Through Processing (STP) | 000455388 |
 | SCA | Exceeded | MH Markets Financial Services LLC | Investment Advisory License | 20200000159 |
What Can I Trade on MH Markets?
| Trading Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Metals | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type
Except for a demo account to familiarize yourself before commiting actual trading, the broker offers 3 tiered accounts with different trading conditions to suit for the needs of different client groups:
| Account Type | Minimum Deposit | Spread |
| Standard | USD 50 | Low spread |
| ECN | USD 1,000 | Ultra-low spread |
| PRIME | USD 100 | Extra-low spread |
Leverage
While the broker offers leverage up to 1000x, traders should use leverage cautiously and choose the product that best suits their experience levels to avoid huge losses.
Trading Platform
MH Markets claims to use the world renowned MetaTrader 4 and 5 platforms, which are well-recognized by its advanced charting tools and robust functionalities.
You can reach the platform on web, or download app from Windows, mobiles phones and Mac.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web/Windows/Mobile phones | Beginners |
| MT5 | ✔ | Web/Windows/Mobile phones | Experienced traders |
Deposit and Withdrawal
Per its website info, MH Markets enables payment through bank/wire transfers, credit cards, local banking, and QR payments.
Promotion Programs
To encourage customers to be actively in trading, MH Markets' promotion programs offer incentives such as deposit bonuses, monthly cashback rebates, and luxury gifts based on trading volume and deposit levels.
- Deposit Bonus: traders can get a 10% bonus on deposits from $500 to $200,000. Bonus withdrawal requires trading volume of 25x the bonus within 90 days.
- Cashback Rebate: investors can earn up to $5 per lot based on net deposit levels. Cashback is capped (e.g., up to $40,000 for Level 3) and calculated monthly. The rebate only applies to Standard/Prime/ECN accounts.
- Gift Program: you can receive gifts like iPhones, MacBooks, or gift cards by meeting specific net deposit and trading volume thresholds set by the broker. Gifts can be selected by tier, and higher-tier rewards may be split into lower-tier items if criteria are met.
