Mocaz Review
Overview
Company Information Mocaz Financial Markets is a company, dealing with Forex trading. It dates back to 2011 when it was founded by a group of veteran managers. Mocaz provides market… more
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| Broker | Mocaz |
|---|---|
| Website URL | http://www.mocaz.com/ |
| Founded | 2012 |
| Headquarters | Kingstown, St. Vincent and the Grenadines |
| Support Number | support@mocaz.com |
| Support Email | support@mocaz.com |
| Support Types | Live Chat, E-mail |
| Languages | English |
| Minimum Trade Amount | 0.01 lots |
| Free Demo Account |  |
| Regulated | |
| Regulation | The Financial Services Authority of St. Vincent & the Grenadines |
| Account Types | Basic Micro, Basic Mini, Premium Mini, Premium Standard, PRO Standard, ECN |
| Deposit Methods | MasterCard, FasaPay, PayPal, Neteller, Visa |
| Withdrawal Methods | MasterCard, FasaPay, PayPal, Neteller, Visa |
| Types of Assets | Forex, Commodities, Indices |
| Account Currency | USD |
| US Traders Allowed |  |
| Mobile Trading | |
| Tablet Trading | |
Full Review
Company Information
Mocaz Financial Markets is a company, dealing with Forex trading. It dates back to 2011 when it was founded by a group of veteran managers. Mocaz provides market access and automated trade execution to many traders around the globe. The broker works with various assets and instruments like CFDs, indices, and foreign exchange. The business is based in Kingstown, St, Vincent and the Grenadines. Due to expansion, Mocaz lost its regulations and is currently applied and pending for the FCA UK. The mission of Mocaz is to provide an innovative, transparent and revolutionary way of trading with Forex. Mocaz Financial Markets offers six different types of accounts. Most Forex brokers only support up to three types. The most prominent difference between them is the leverage.
The Mocaz Financial Markets website is designed to be simple, functional and accessible. It doesn’t utilize any groundbreaking technologies but is modern enough to keep your attention and provide the needed usability. The theme is light – white, light blue and black/gray colors. The menus and the buttons lead to all the information you will need over the course of your stay. There is even a nice widget, showing the top performing traders on the website. This way, if you know what you are doing, you will be able to see your name on the front page.
Trading Information
Mocaz Financial Markets offers a variety of options to the traders. The company deals with different types of instruments – Forex, commodities, indices and others. The bases are covered, and you can jump right into the fray right after you register and fund your account. The order execution at Mocaz is automatic and happens in less than a second. You know how critical a second can be when you are trading with Forex. Mocaz supports 72 different currency pairs, 13 indices, and five commodities. The online broker is one of the leaders in account types number. While most of the Forex brokers limit themselves to three, Mocaz gives traders a real choice – six different account types to find the perfect option that works for you. The basic options have the lowest minimum deposit required – $10 or $100. The spread starts from 2 pips, and the leverage varies between 1:10 and 1:500. While the spreads are not very tight, you don’t owe the broker any commission. There is no limit to the maximum lot. With Basic Micro, you are limited to 200 orders at once. The Premium, Pro, and ECN options become a lot better regarding trading conditions. The leverage becomes tighter – 1:300 and 1:200. The spreads minimum goes down to 0.2 pips. The only issue is that you owe a commission per 100K volume, but it’s not a significant sum of money. Overall, all the options have their use and Mocaz are perfect for letting you choose the best account for you.
Trading Platforms
With Mocaz Financial Markets, traders can get in the action through three platforms. The biggest is MetaTrader 4. Most of the Forex traders around the globe prefer MT4 because if its flexibility and ease of use. The broker has upgraded the platform to serve the specific needs of the business. The main selling point of the Mocaz MT4 is the 0.01 micro lots in the basic micro account. Traders can also use the MetaTrader 4 Mobile platform. It’s available for most of the major operating systems, including iOS and Android. MT4 Mobile is probably the best way to practice Forex trading on your mobile device.
Mocaz also offers the NetStation platform. It’s tweaked to help traders have a seamless experience with the broker. NetStation supports Forex, CFDs, and precious metals. You can also get live FX rates from Tier 1 FX banks and news from leading providers.
The third platform is ClearPro. It’s not a very attractive solution, but it undoubtedly offers everything a trader might need. ClearPro supports various assets – energy, CFDs, Forex, and bullion. VWAP lets you see the average price for large orders, which can prove extremely helpful when dealing with larger quantities of different instruments. ClearPro is fully customizable with the option to dock different modules.
Security and Customer Service
The Mocaz website is currently not using any kind of encryption for protection. Since the connection to the site is not private, it is easier to intercept it and steal personal data. Those cases are relatively rare but are not unseen either. You should weigh the pros and cons and decide if it’s worth using an unprotected connection.
The customer service of the broker is above average. They cannot be contacted by phone. You can e-mail them, or use the live chat option on the website. Another possible way to contact Mocaz is Skype, a free messaging and calling program. Aside from the details, the customer service representatives know what they are doing and will readily help you resolve your issues.
Deposits & Withdrawals
Funding your account is quite hassle-free with Mocaz Financial Markets. The conditions are absolutely identical for depositing and withdrawing money. E-wallets are the fastest way to proceed – the processing takes up to one business day. The credit and debit cards are processed between 3 and ten business days. The minimum amount to process is $10. Bank transfers take about 3 to 5 days to process, but the minimum sum is $100. All payment methods charge fees, differing per provider. An important note to make is that all withdrawal requests via bank transfer must be carried out before 15:00 GMT +2.
Deposit Bonus and Loyalty Programs
Mocaz doesn’t offer any deposit bonuses. To be fair, not many Forex brokers do nowadays. It’s way more important to have excellent trading conditions. However, the broker offers an affiliate program, which can help you earn some extra money by referring people to Mocaz. The way this works is that you get a commission for every trade the people you refer make. The closer the trader is to you in your network, the larger the bonus. You will also get free banners and promotional material to make the referral process easier.
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