83% of retail investor accounts lose money when trading CFDs with this provider

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Mayzus Review

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Mayzus is a forex trading services broker. They give traders access to the major markets like currencies, indices, commodities and shares.

Pros

  • Segregates client funds
  • Established in 2008
  • Regulated by CySEC
  • Min. deposit from $100

Cons

To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, Mayzus offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by CySEC (Licence: 093/08). Mayzus puts all client funds in a segregated bank account and uses tier-1 banks for this. Mayzus has been established since 2008, and have a head office in .

Before we dive into some of the more detailed aspects of Mayzus ’s spreads, fees, platforms and trading features, you may want to open Mayzus ’s website in a new tab by clicking the button below in order to see the latest information directly from Mayzus.

Visit Mayzus

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Mayzus screenshot Open a demo account

83% of retail investor accounts lose money when trading CFDs with this provider

What are Mayzus's spreads & fees?

Like most brokers, Mayzus takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Mayzus’s website. The colour bars show how competitive Mayzus' spreads are in comparison to other popular brokers featured on BrokerNotes.

Mayzus
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, Mayzus’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Mayzus vs. similar brokers.

See all Spreads

How much does Mayzus charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Mayzus at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $0. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

Mayzus XTB AvaTrade
Spread from: $ 0.00 $ 2.00 $ 7.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 0.00 $ 2.00 $ 7.00
$2 more $7 more
Visit Mayzus Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

General Fees

  • Mayzus does charge inactivity fees
  • Mayzus withdrawal fees varies on payment method

Commissions

  • Mayzus does charge commission on CFD shares

What can you trade with Mayzus?

Mayzus offers over 71 different instruments to trade, including over 56 currency pairs. We’ve summarised all of the different types of instruments offered by Mayzus below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies Mayzus XTB AvaTrade
# of forex pairs offered 56 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Mayzus XTB AvaTrade
# of commodities offered 0 21 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs Mayzus XTB AvaTrade
# of Stocks offered 1606 99
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Mayzus's InstrumentsSee XTB's InstrumentsSee AvaTrade's Instruments

What’s the Mayzus trading experience like?

1) Platforms and apps

Mayzus offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Mayzus also offer their custom LiteForex platform. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

Mayzus Screenshot

Mayzus also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Mayzus 's platforms

Trading Features:

  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Demo account
  • Micro account
  • Standard account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

With Mayzus, the minimum and maximum trade requirements vary depending on the trader and the instrument. As Mayzus offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As a market maker, Mayzus may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, Mayzus are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at ).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Mayzus also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection and much more. You can see all of the account features offered by Mayzus here.

Finally, we’ve listed some of the popular funding methods that Mayzus offers its traders on the right.

Funding methods:

  • Credit cards
  • Skrill
  • Payoneer

3) Client support

Mayzus support a limited number including English.

Mayzus has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with Mayzus

As Mayzus is regulated by CySEC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Mayzus’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Mayzus you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.liteforex.eu/ on 01/11/2019.