MoreFx way Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-08 15:28

Abstract：MoreFX way is a multi-asset broker registered in the UK, offering trading on cryptos, indices, Forex, Energies, and shares with leverage up to 1:5000 and spread from 0.1 pips. However, there is no available trading platform, and the minimum deposit requirement is as high as $500. More worse, it currently has no valid regulatory licenses.

MoreFX way Review Summary
Founded	/
Registered Country/Region	United Kingdom
Regulation	Unregulated
Market Instruments	Cryptos, indices, Forex, Energies, and shares
Demo Account	❌
Leverage	Up to 1:5000
Spread	From 0.1 pips
Trading Platform	None
Min Deposit	$500
Customer Support	Email: support@morefxway.com
Customer Support	Address: 71 Cherry Court SOUTHAMPTON SO53 5PD UK

MoreFX way Information

　　MoreFX way is a multi-asset broker registered in the UK, offering trading on cryptos, indices, Forex, Energies, and shares with leverage up to 1:5000 and spread from 0.1 pips. However, there is no available trading platform, and the minimum deposit requirement is as high as $500. More worse, it currently has no valid regulatory licenses.

Pros & Cons

Pros	Cons
Various trading instruments	No legit forex license
Multiple account types	Inaccessible website
	No functional trading platform
	Extremely high minimum deposit
	Limited payment options
	Only email support

Is MoreFX way Legit?

　　No. MoreFX way currently has no valid regulations. Please be aware of the risk!

What Can I Trade on MoreFX way?

　　Overall, the tradable asset classes are abundant, including forex, energies, indices, shares, and cryptos. But except for enrgies, other commodities do not seem to be available.

Tradable Instruments	Supported
Forex	✔
Energies	✔
Indices	✔
Shares	✔
Cryptos	✔
Commodities	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

　　There are four account types: Starter, Silver, Gold and Platinum accounts. The minimum deposit requirement is extremely high, up to $500, while most other brokers only requires $100, or even no minimum threhold.

Account Type	Minimum Deposit
Starter	$500
Silver	$1 000
Gold	$2 500
Platinum	$15 000

Leverage

　　The leverage is capped at 1:5000.

Trading Instrument	Maximum Leverage
Gold, Japan	1:5000
EUR/USD	1:1000
Bitcoin, Ethereum, Litecoin, Ripple, EOS, S&P 500, Crude oil	1:100

　　It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform

　　MoreFX way claims to offer the leading MT4 platform, but in reality, there is not any trading platforms available.

Trading Platform	Supported	Available Devices	Suitable for
MT4	❌	/	Beginners
MT5	❌	/	Experienced traders
cTrader	❌	/	/
TradingView	❌	/	/
Webtrader	❌	/	/
Mobile App	❌	/	/

Deposit & Withdrawal

　　MoreFX way only suppports deposits and withdrawals via Bitcoin & Ethereum. Other popular methods like bank transfers, credit/debit cards, Skrill, and Neteller are not supported.