Mt.Cook-Some Important Points about This Broker

WikiFX | 2024-10-28 11:48

Abstract：Mt.Cook, a brokerage firm based in South Africa, operates outside the business scope regulated by the FSCA. It offers many market instruments including Forex, Precious Metals, Indices, Energies, and Crypto. Mt.Cook provides demo accounts and high-leverage options up to 1:500. With MetaTrader4, FIX API, and the newly introduced Hybrid PAM, Mt.Cook facilitates trading with a minimum deposit of $500.

Mt.CookReview Summary
Registered Country/Region	South Africa
Regulation	FSCA (Exceeded)
Market Instruments	Forex, Precious Metals, Indices, Energies, and Crypto
Demo Account	Yes
Leverage	Up to 1:500
Spread	Starting from 0 pips
Trading Platform	MetaTrader4
Min Deposit	$500

Mt.Cook Information

Mt.Cook, a brokerage firm based in South Africa, operates outside the business scope regulated by the FSCA. It offers many market instruments including Forex, Precious Metals, Indices, Energies, and Crypto. Mt.Cook provides demo accounts and high-leverage options up to 1:500. With MetaTrader4, FIX API, and the newly introduced Hybrid PAM, Mt.Cook facilitates trading with a minimum deposit of $500.

Pros and Cons

Pros	Cons
Offers different account types and a demo account	FSCA (Exceeded)
High leverage options up to 1:500	High minimum deposit requirement

Is Mt.Cook Legit?

Mt.Cook operates outside the business scope regulated by the South African Financial Sector Conduct Authority (FSCA) and holds a Financial Service Corporate license number: 50420. It is not affiliated with the National Futures Association or the UNFX Non-Forex License.

What Can I Trade on Mt.Cook?

Mt.Cook offers a variety of trading instruments including Forex, Precious Metals, Indices, Energies, and Crypto.

Tradable Instruments	Supported
Forex	✔
Energies	✔
Crypto	✔
Indices	✔
Precious Metals	✔
Shares	❌
Stock	❌

Account Type

Mt.Cook offers two types of accounts: DMA (Direct Market Access) accounts and ECN accounts.

The DMA account requires a minimum deposit of $25,000, and it cannot batch-hedge trades less than 1 standard lot in position size ($100,000 of currency).

ECN Account has three tiers of minimum deposit for $500, $25,000, and $100,000 respectively.

You can check the specific information in the table. Besides, Mt.Cook also provides demo accounts for traders.

Account Type	Minimum Deposit	Batch-Hedging Capabilities	Margin Structure
DMA	$25,000	No	Standard ticket fees for <1 lot
ECN - Mt.Cook	$500	Yes	Tight margins from transaction fees
ECN - Mt.Kilimanjaro	$25,000	Yes
ECN - Mt. Everest	$100,000	Yes

Mt.Cook Fees

Mt.Cook charges commissions for its DMA and ECN accounts.

For DMA accounts, the commission is $6.50 per lot, while for ECN accounts, the commission from $7.50 per lot, $6.50 per lot, and $5.50 per lot.

Account Type	Commission per lot
DMA	$6.50
ECN - Mt.Cook	$7.50
ECN - Mt.Kilimanjaro	$6.50
ECN - Mt. Everest	$5.50

Mt.Cook Leverage

Mt.Cook offers different levels of leverage for its different account types. The DMA account has a maximum leverage of 1:200. ECN accounts offer different leverage options. You can check the details below.

Account Type	Maximum Leverage
DMA	1:200
ECN - Mt.Cook	1:500
ECN - Mt.Kilimanjaro	1:200
ECN - Mt. Everest	1:100

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MetaTrader4	✔	PC and Mobile	Investors of all experience levels
FIX API	✔	PC and Mobile	Investors of all experience levels
Hybrid PAM	✔	PC and Mobile	Investors of all experience levels

Deposit and Withdrawal

For Deposits, the minimum deposit amount is $500 USD, with a maximum limit of $1M and an average processing time of near-instant.

Deposit Option	Currencies	Minimum Deposit	Maximum Deposit	Average Processing Time
Wire Transfer	USD, EUR, GBP, AUD	$500 USD	No Max	1-3 days
Perfect Money	USD, EUR		$1M	Instant
Cryptocurrency Transfer	BTC, ETH, USDT, PAXG		$1M	Near Instant
Transfer from Another Broker	USD, EUR, GBP, AUD		$25M	1-3 days