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MahiFX Opinions

  • #21
  • Dec 20, 2012 4:03pm Dec 20, 2012 4:03pm
It's been months since my last update of MahiFx.

Pros -
1. I can trade 1 unit of currency - This is good for new traders who are testing their system and abilities to trade while minimizing potential loses.
2. Support is good. I only called once to clarify few things.
3. Only one re quote
4. Opening of the same currency in both direction is allowed

Cons -
1. No MT4
2. It takes while to get use to the platform especially when I want to open the same currency in the both direction

My account started at $300 and it grew to $600 as of today, December 20, 2012.
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Fear prevent possibilities, and so does Greed
  • #22
  • Dec 24, 2012 4:04pm Dec 24, 2012 4:04pm
Site looks like a Wordpress script. I could be mistaken, but isn't very easy to navigate in my opinion. the tight spread makes it look like an ECN, and yet they claim that they have no minimum deposit, which is pretty confusing because i would naturally associate an ECN with a high minimum deposit.
  • #23
  • Dec 26, 2012 3:21pm Dec 26, 2012 3:21pm
How about inactive fees?
How much do they charge?
  • #24
  • Dec 26, 2012 3:28pm Dec 26, 2012 3:28pm
Quoting pipfarming
How about inactive fees?
How much do they charge?
I do not know about those fees because my account is "very active."
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Fear prevent possibilities, and so does Greed
  • #25
  • Dec 26, 2012 3:45pm Dec 26, 2012 3:45pm
Quoting xtrader101
I do not know about those fees because my account is "very active."
Thanks.
Have you withdrawn money from your account?
I hope it's easy and fast.
  • #26
  • Dec 26, 2012 3:49pm Dec 26, 2012 3:49pm
Quoting pipfarming
Thanks.
Have you withdrawn money from your account?
I hope it's easy and fast.
I haven't withdrawn anything yet, but i'm not worried about it for now as the account size is small. Nevertheless, its money. I might try when this account gets to $5K within the next 6 months.
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Fear prevent possibilities, and so does Greed
  • #27
  • Jan 1, 2013 5:40pm Jan 1, 2013 5:40pm
I decided to take out the money last December 29th and it hit my bank on December 31st.

I took out the money not because I am not satisfied with the service, but because I want MT4 and they have none.
Fear prevent possibilities, and so does Greed
  • #28
  • Jan 2, 2013 3:03pm Jan 2, 2013 3:03pm
The platform is actually pretty spot on for scalping. Not only for the tight spreads that you've shown, but the execution speed.
  • #29
  • Jan 4, 2013 10:04am Jan 4, 2013 10:04am
Quoting xtrader101
I decided to take out the money last December 29th and it hit my bank on December 31st.

I took out the money not because I am not satisfied with the service, but because I want MT4 and they have none.
Hi xtrader101, We’re pleased that you have been satisfied with the spreads, execution, customer support, and processing of withdrawals at MahiFX and want to thank you for trading with us these past months. We are grateful for you feedback on this forum and would like to have some additional feedback on why you prefer MT4. This would enable us to further improve the MahiFX platform to appeal to different trading styles and in the hope of welcoming you back in the future!
  • #30
  • Jan 9, 2013 9:15am Jan 9, 2013 9:15am
Quoting jhehe
Site looks like a Wordpress script. I could be mistaken, but isn't very easy to navigate in my opinion. the tight spread makes it look like an ECN, and yet they claim that they have no minimum deposit, which is pretty confusing because i would naturally associate an ECN with a high minimum deposit.
Hi jhehe,

Hope you’ll excuse us for inviting ourselves into this conversation but we’d like to take this opporttunity to clarify any confusion on this forum in terms of
the MahiFX model. . . . MahiFX is in fact a market maker and not an ECN. We are able to offer exceptionally tight spreads because there are no added layers of cost that you typically find with other brokers. By cutting out the middle man we are able to pass on better pricing to you.

MahiFX has no minimum deposit requirements and no minimum trade sizes, so it’s a level playing field for all traders. And MahiFX traders are not subject to charges such as brokerage fees or commissions, no ‘from’ prices and no unexpected or hidden layers of cost. Traders can be assured that with MahiFX, the spreads they see are the spreads they get.

In terms of navigating the site, we would be very pleased to offer you a personalised demonstration to assist with any areas that you find unclear. Please just contact us [email protected]

Kind Regards,
The MahiFX team
  • #31
  • Jan 9, 2013 6:58pm Jan 9, 2013 6:58pm
Hello,

I see what you are saying. May I ask what you mean by "By cutting out the middle man we are able to pass on better pricing to you."? does this mean that you re your own liquidity provider or...?

Quoting MahiFX
Hi jhehe,

Hope you’ll excuse us for inviting ourselves into this conversation but we’d like to take this opporttunity to clarify any confusion on this forum in terms of
[color=#404040][font=&quot]the MahiFX model. . . . MahiFX is in fact a market maker and not an ECN. We are able to offer exceptionally tight spreads because there are no added layers of cost that you typically find with other brokers. By cutting...
  • #32
  • Jan 11, 2013 12:06pm Jan 11, 2013 12:06pm
Hi again Jhehe,
As a market maker we don't lay off the risk, rather we take it onto our own books which allows us to make money from the tight bid/offer spread rather
than charging fees or commissions to our clients. Our proprietary technology listens to multiple streams of price information and then forms the rates.
More information can be found here: https://mahifx.com/market-maker
  • #33
  • Jan 12, 2013 3:55pm Jan 12, 2013 3:55pm
I may consider MahiFX, but right now I am still sticking with paypal brokers. if MahiFX offers paypal, then I would definitely use it. right now it doesn't so that is a big downer for me.
  • #34
  • Jan 14, 2013 8:32am Jan 14, 2013 8:32am
Hi Jhehe,
Thank you for that feedback. We will certainly monitor requests for PayPal and introduce it if there is enough interest in having that payment facility.
Kind Regards,
Bonnie for MahiFX
  • #35
  • Jan 15, 2013 9:56am Jan 15, 2013 9:56am
I've been using them for little more than 2 months now and I'm quite happy. The customer service is excellent, with very friendly agents who respond quickly to any questions or commens. Spreads and execution flawless; made a small withdrawal, was quickly proceeded and without problems. But I'm not very satisfied with the trading platform, it looks so empty. I don't use indicators besides Pivot Points sometimes, so the poor charting options are not a problem for me. I'm rather unhappy with the design of the platform!

But to sum it up, I'm satisfied so far and I'll stick with them.
  • #36
  • Feb 22, 2013 9:32pm Feb 22, 2013 9:32pm
I wish you were offering 1:100 leverage, I risk 2-3% per trade, with leverage of 1:50, you can only do 1.5% max with a tight stop loss strategies (5 pips). I can't see how people say leverage is bad, if you don't know what you are doing, you are going to lose money anyway, with 1:50 you are doing it slower
  • #37
  • Mar 2, 2013 1:18am Mar 2, 2013 1:18am
Quoting Forex5050
I've been using them for little more than 2 months now and I'm quite happy. The customer service is excellent, with very friendly agents who respond quickly to any questions or commens. Spreads and execution flawless; made a small withdrawal, was quickly proceeded and without problems. But I'm not very satisfied with the trading platform, it looks so empty. I don't use indicators besides Pivot Points sometimes, so the poor charting options are not a problem for me. I'm rather unhappy with the design of the platform!

But to sum it up, I'm satisfied...
Hi mate, are you still using mahi and if so how are you finding them?
London: New York: Tokyo - but mostly Rangiora
  • #38
  • Mar 2, 2013 1:58pm Mar 2, 2013 1:58pm
demo-ed on their webtrader and i still don't get it. good for scalping, but the platform seems a bit complex for me. will continue trying right now, but my trade entries don't look right. takes multiple navigations to place a trade rather than a "one click" option so i would say i'm doing it wrong rather than the webtrader platform doesn't support this feature.
  • #39
  • Mar 4, 2013 4:45am Mar 4, 2013 4:45am
Hi Forex5050, We're very pleased that you have been trading with us for more than two months now and that you consider our customer service, spreads and execution excellent! We're less happy to hear that you find the platform not quite to your liking in terms of the design. One of our over-riding aims is to ensure we listen to customer feedback and respond - something we are able to do quite quickly given that we have built the platform and engineer the ongoing enhancements ourselves. If you would like to share your thoughts and wish-list for features please do contact us at [email protected] we'd be interested to hear from you and grateful for you taking the time.
Kind Regards,
Bonnie for MahiFX
  • #40
  • Mar 4, 2013 4:54am Mar 4, 2013 4:54am
Quoting jhehe
demo-ed on their webtrader and i still don't get it. good for scalping, but the platform seems a bit complex for me. will continue trying right now, but my trade entries don't look right. takes multiple navigations to place a trade rather than a "one click" option so i would say i'm doing it wrong rather than the webtrader platform doesn't support this feature.
Hi Jehe,

Thanks for taking the time to provde the welcome feedback around the suitability of the MahiFX platform for scalping (along with other trading styles!). We appreciate that for traders of all experience levels, gaining familiarity and ease with a new platform does take time, and that platforms can appear a bit confusing in the early stages. To assist your trading, MahiFX does one-click trading and would be very happy to have the opportunity of offering you a personalised walk-through of platform at a time convenient to you. Alternatively, we do have a range of support videos on the MahiFX site at https://mahifx.com/support/videos/ that offer a step by step guide to the main platform and order features. If after having a look at our support section you would like the personalised walkthrough, please feel free to contact us at [email protected].

Kind Regards,
Bonnie from MahiFX
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