ForexNewsNow-MahiFX is a relatively new forex broker based in New Zealand. The company differs from traditional forex brokers in multiple aspects such as the functionality of its online trading platform, the design of its website and the functionality of the whole brokerage itself.
Platform and Usability
In our opinion MahiFX has at this moment the MahiFx in the online trading business when it comes both to the company’s website and platform. The broker’s website is built using latest-technology HTML5 that permits the displaying of a large number of dynamic content.
Added with its black-grey-white theme, in our opinion it’s one of the most elegant websites in the industry. The same is also valid in regards to the company’s platform. The platform used by the company was developed internally meaning that it’s not available at any other forex broker on the planet.
One of the most important aspects of the MahiFX platform are its charting capabilities. The platform permits traders to employ over 30 different indicators and oscillators in order to evaluate the movement of over 110 different forex currency pairs. Likewise, not many brokers offer the possibility to trade more than 110 distinct forex pairs.
Spreads and Commissions
A huge difference between traditional brokers and MahiFX is the fact that MahiFX is a market marker. This allows the company to offer some of the lowest spreads in the online trading business. Traditional brokers however are forced to use third party liquidity providers, something that results in much larger spreads.
The company even has a chart that displays the spread difference between MahiFX and other forex brokers. This chart reveals that MahiFX offers in average 50% lower spreads than the second ranked broker on the list.
It also offers a spread calculator to traders that will show them the difference in the revenue generated at MahiFX and other brokers due to the difference in spreads. The broker does not perceive any additional commissions or hidden fees.
Payments and Regulation
The broker permits traders to execute deposits and withdrawals by wire transfer and by credit card. There is no minimum deposit and withdrawal requirements when traders choose to use wire transfer for executing payments. Transfer fees are also very low.
The broker is licensed and regulated in Australia by the Australian Securities and Investments Commission, which is one of the most reputable financial service regulatory authorities on the planet. This means that the company offers a secure and safe online trading environment.
MahiFX Receives Best Trading System Award
In April 2013 MahiFX received the prestigious Best Trading System award at the 13th annual FStech Awards. This award formally recognizes the company’s achievements in innovation in the field of online trading technology. The broker received this award only one year after it released its proprietary online trading platform.
MahiFX is a new financial service provider that at this moment is still in the process or capturing a significant market share. The venture is headed by former executive at Barclays Capital and his wife Susan Cooney who served as head of European institutional sales at Barclays Capital.
The company’s business strategy and marketing model is to acquire new traders by heavily investing in innovation and technology. The company’s extremely modern and advanced design and online trading platform is the direct result of this strategy.