Midori FX (Pty) Ltd
FSCA Regulated - Moderate TrustPros
- Regulated by South Africa's FSCA (License FSP 53077) providing regulatory oversight and compliance standards
- Competitive spreads starting from 0.6 pips on major currency pairs with no transaction fees
- High leverage options available up to 1:2000 for qualified traders
- Offers trading on over 57 forex currency pairs plus indices and commodities
- Active Interest Program available for generating additional passive income
- Fast execution with 99.9% order execution rate according to broker statistics
- Multiple base currencies supported including USD and JPY for account flexibility
Cons
- High minimum deposit requirement of $2,000 USD for standard accounts may be prohibitive for new traders
- Limited payment methods compared to larger international brokers
- Customer support appears to be primarily focused on Asian market hours
- No swap-free Islamic accounts offered according to broker documentation
- Offshore regulation from FSCA provides less protection than tier-1 regulators like FCA or ASIC
- Limited educational resources and trading tools compared to major competitors
Basic Information
User Reviews
Regulation Analysis
Midori FX operates under the regulatory oversight of South Africa’s Financial Sector Conduct Authority (FSCA) with license number FSP 53077. The company is registered as Midori FX (Pty) Ltd with company number 2023/526901/07. FSCA regulation requires brokers to maintain adequate capital requirements, submit regular financial reports, and follow specific operational procedures to protect client interests. Client funds must be segregated from company operational funds, though the specific protection schemes are less comprehensive than those offered by tier-1 regulators. The broker is not authorized to offer services to residents of certain jurisdictions including the USA, Iran, North Korea, Canada, Belgium, and Russia, indicating compliance with international regulatory restrictions. While FSCA regulation provides basic oversight, traders should be aware that it does not offer the same level of protection as regulators like the FCA, ASIC, or CySEC. The broker has maintained a clean regulatory record since its establishment in 2023, with no reported sanctions or regulatory actions. However, the relatively recent establishment date and single regulatory jurisdiction may be considered limiting factors for some traders seeking multiple layers of regulatory protection.
Trading Products
- Forex Trading: Over 57 currency pairs available including major, minor, and exotic pairs with competitive spreads from 0.6 pips and leverage up to 1:2000
- Stock Indices: Access to major global indices including FTS100, FRA40, CN50, and EU50 with competitive trading conditions
- Commodities: Trading available on various commodity instruments including precious metals and energy products
- Trading Conditions: Base transaction currencies in USD and JPY, margin call at 100%, stop out level at 20%, no limit on maximum number of orders
- Trading Hours: Standard forex market hours with 24/5 trading availability for major currency pairs
- Leverage Options: Flexible leverage options up to 1:2000 depending on account type and trader qualification
Trading Platforms
- MetaTrader 5 (MT5): Primary trading platform offering advanced charting capabilities, multiple timeframes, technical indicators, and automated trading support
- Mobile Trading: MT5 mobile applications available for iOS and Android devices, providing full trading functionality on the go
- WebTrader: Browser-based trading solution for convenient access without software installation
- Platform Features: Real-time quotes, multiple order types, advanced charting tools, technical analysis indicators, and automated trading capabilities
- Trading Tools: Economic calendar, market analysis tools, and real-time market news integration
- Execution Technology: High-speed execution infrastructure with 99.9% claimed execution rate
Deposit and Withdrawal
Deposit and withdrawal options at Midori FX are structured to accommodate international traders while maintaining security standards. The minimum deposit requirement is set at $2,000 USD for standard accounts, which is relatively high compared to industry averages. The broker accepts major payment methods including bank wire transfers and electronic payment solutions, though specific payment processors are not publicly detailed in their documentation. Withdrawal processing follows standard KYC (Know Your Customer) verification procedures to ensure security and regulatory compliance. The broker emphasizes secure transaction processing, with funds held in segregated accounts as per FSCA requirements. Base currencies available for accounts include USD and JPY, with currency conversion fees applicable for transactions in other currencies. Processing times and specific fee structures may vary depending on the payment method and account verification status.
Customer Support
Midori FX provides customer support services primarily focused on Asian market hours, reflecting their target market orientation. Support channels include email assistance and an online help center accessible through their website. The broker maintains a presence in South Africa with their headquarters in Pretoria, offering potential for local support in that region. While specific response times are not publicly advertised, the support structure appears to be designed to handle basic trading queries and account-related issues. Documentation and self-help resources are available through their website, including FAQs and legal documents. Support is provided for their MT5 platform implementation and general trading queries. The broker’s support infrastructure appears adequate for their current operational scale, though it may be less comprehensive than larger international brokers offering 24/7 multilingual support.
FAQ
Q: Is Midori FX a regulated broker?
A: Yes, Midori FX (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa under license number FSP 53077. This regulation requires the broker to maintain certain operational standards and client fund protections, though traders should note that FSCA regulation provides different protections than major tier-1 regulators like the FCA or ASIC.
Q: What is the minimum deposit required to start trading with Midori FX?
A: The minimum deposit requirement at Midori FX is $2,000 USD for standard accounts. This relatively high minimum deposit positions the broker for more serious traders rather than beginners. The broker accepts deposits in both USD and JPY as base currencies.
Q: What trading platforms does Midori FX offer?
A: Midori FX primarily offers the MetaTrader 5 (MT5) platform, which provides advanced charting capabilities, multiple timeframes, technical indicators, and automated trading support. The platform is available as a desktop application, mobile app for iOS and Android, and WebTrader version for browser-based trading.
Q: What trading instruments are available?
A: Midori FX offers trading on over 57 currency pairs, along with various indices like FTS100, FRA40, CN50, and EU50, plus commodity instruments. Trading conditions include spreads from 0.6 pips and leverage up to 1:2000 for qualified traders, with no limit on the maximum number of orders.