According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $250
- WebTrader
- MISA
Our Evaluation of Mirrox
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Mirrox is a broker with higher-than-average risk and the TU Overall Score of 4.99 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Mirrox clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Mirrox offers straightforward trading conditions, a wide selection of assets, and reliable client support. With demo accounts and various account types available, it caters to traders of all levels. However, it is worth noting that Mirrox does not offer passive income options.
Brief Look at Mirrox
Mirrox is a brokerage firm catering to both beginner and seasoned traders. It offers a diverse portfolio of over 160 CFDs, encompassing stocks, cryptocurrencies, Forex pairs, commodities, and indices. The company’s proprietary trading platform is designed for user-friendliness, enabling easy navigation, technical analysis, and execution of various order types. Mirrox is a regulated broker, operating under the supervision of the MISA (Mwali International Services Authority) with license number BFX2024064.
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- User-friendly interface;
- Wide selection of trading instruments in CFD format;
- Negative balance protection for all accounts;
- Transparent commission structure with no hidden charges;
- Support for various account types catering to traders of different experience levels;
- Access to Forex trading with high leverage;
- Availability of market and pending orders.
- The minimum deposit is $250;
- No passive income options are available.
TU Expert Advice
Author, Financial Expert at Traders Union
Mirrox provides a range of services including CFDs on stocks, cryptocurrencies, Forex pairs, commodities, and indices via its WebTrader platform. The broker offers leverage up to 1:400, supporting manual order execution and negative balance protection across various account types, catering to both novice and experienced traders. With a minimum deposit of $250, traders have access to user-friendly tools and a transparent fee structure, alongside robust client support.
However, Mirrox presents certain drawbacks, such as higher-than-average Forex trading fees and a 3.5% withdrawal fee. The absence of passive income options and ECN/Raw Spread accounts may limit its appeal to specific traders, especially those seeking automated trading or passive investment strategies. As such, Mirrox is more suited to traders focused on active CFD trading.
Mirrox Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
💻 Trading platform: | Proprietary WebTrader |
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📊 Accounts: | Demo, Classic, Silver, Gold, Platinum, VIP |
💰 Account currency: | USD |
💵 Deposit / Withdrawal: | Bank cards (credit, debit, prepaid), Wire Transfer, E-wallets |
🚀 Minimum deposit: | $250 |
⚖️ Leverage: | Up to 1:400 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 lot |
💱 EUR/USD spread: | 4,1-4,8 pips |
🔧 Instruments: | Forex CFDs, index CFDs, commodity CFDs (energies and metals), stock CFDs, crypto CFDs |
💹 Margin Call / Stop Out: | 100%/20% |
🏛 Liquidity provider: | N/a |
📱 Mobile trading: | Through browser |
➕ Affiliate program: | Yes |
📋 Order execution: | Market |
⭐ Trading features: | Only manual CFD trading |
🎁 Contests and bonuses: | Yes |
The Mirrox trading platform supports market and pending orders, as well as the ability to set Stop Loss and Take Profit levels. All assets are traded in the CFD (Contract for Difference) format. Leverage is applied automatically depending on the asset class. Spread sizes vary for different account types.
Mirrox Key Parameters Evaluation
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Trading Account Opening
To open a live account, navigate to the official Mirrox website and complete the registration process. Once registered, you will have the option to open either a live trading account or a demo account for practice. The following is a brief guide to the registration process:
Complete the registration form. This will appear on the screen once you begin the registration process.
Provide your current personal data.
Answer questions about your financial situation and trading experience.
Log in to your personal account and click “Open live account.”
Make a deposit to begin trading. You can complete verification later, before your first withdrawal request.
Regulation and safety
Mirrox has a safety score of 3.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
Mirrox Regulators and Investor Protection
Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
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MISA (Mwali) | Mwali International Services Authority | The Comoros | No specific fund | Tier-3 |
Mirrox Security Factors
Foundation date | - |
Negative balance protection | Yes |
Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker Mirrox have been analyzed and rated as High with a fees score of 2/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No deposit fee
- Above-average Forex trading fees
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Mirrox with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Mirrox’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Mirrox Standard spreads
Mirrox | Pepperstone | OANDA | |
EUR/USD min, pips | 4,1 | 0,5 | 0,1 |
EUR/USD max, pips | 4,8 | 1,5 | 0,5 |
GPB/USD min, pips | 4,7 | 0,4 | 0,1 |
GPB/USD max, pips | 5,5 | 1,4 | 0,5 |
Does Mirrox support RAW/ECN accounts?
As we discovered, Mirrox does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Mirrox. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Mirrox Non-Trading Fees
Mirrox | Pepperstone | OANDA | |
Deposit fee, % | 0 | 0 | 0 |
Withdrawal fee, % | 3,5 | 0 | 0 |
Withdrawal fee, USD | 30 | 0 | 0-15 |
Inactivity fee ($, per month) | 100-500 | 0 | 0 |
Account types
Mirrox accounts vary in terms of spread levels and swap fees (the fee for holding positions overnight). Before opening a live account, any registered trader on the Mirrox website can activate a demo account with a virtual balance of $100,000.
Account types:
Deposit and withdrawal
Mirrox received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Mirrox offers limited payment options and accessibility, which may impact its competitiveness.
- Bank wire transfers available
- Bank card deposits and withdrawals
- No deposit fee
- Low minimum withdrawal requirement
- PayPal not supported
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
What are Mirrox deposit and withdrawal options?
Mirrox offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire. This limitation may restrict flexibility for users, making Mirrox less competitive for those seeking diverse payment options.
Mirrox Deposit and Withdrawal Methods vs Competitors
Mirrox | Plus500 | Pepperstone | |
Bank Wire | Yes | Yes | Yes |
Bank card | Yes | Yes | Yes |
PayPal | No | Yes | Yes |
Wise | No | No | No |
BTC | No | No | No |
What are Mirrox base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Mirrox supports the following base account currencies:
What are Mirrox's minimum deposit and withdrawal amounts?
The minimum deposit on Mirrox is $250, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Mirrox’s support team.
Markets and tradable assets
Mirrox offers a limited selection of trading assets compared to the market average. The platform supports 160 assets in total, including 45 Forex pairs.
- 45 supported currency pairs
- Indices trading
- Crypto trading
- Bonds not available
- Copy trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Mirrox with its competitors, making it easier for you to find the perfect fit.
Mirrox | Plus500 | Pepperstone | |
Currency pairs | 45 | 60 | 90 |
Total tradable assets | 160 | 2800 | 1200 |
Stocks | Yes | Yes | Yes |
Commodity futures | Yes | Yes | Yes |
Crypto | Yes | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products Mirrox offers for beginner traders and investors who prefer not to engage in active trading.
Mirrox | Plus500 | Pepperstone | |
Bonds | No | No | No |
ETFs | No | Yes | Yes |
Copy trading | No | No | Yes |
PAMM investing | No | No | Yes |
Managed accounts | No | No | No |
Customer support
Mirrox’s support operates 24/7, with various communication channels available.
Advantages
- Live chat on the broker’s website
- Multilingual support
Disadvantages
- No callback option
- Responses in live chat are not always quick
Traders can contact Mirrox through:
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Live chat;
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Email;
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Phone;
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Feedback form;
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Help button in user account.
Contacts
Registration address | P.B. 1257 Bonovo Road, Fomboni, Comoros |
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Regulation | MISA |
Official site | https://www.mirrox.com/en/ |
Contacts |
Education
The Education section of the official Mirrox website is designed for beginner traders who require basic information about trading in the Forex and CFD markets. It also provides market data and other useful tools for traders of all levels.
Comparison of Mirrox with other Brokers
Mirrox | Bybit | Eightcap | XM Group | Octa | FBS | |
Trading platform |
WebTrader | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MetaTrader4, MetaTrader5, OctaTrader | MT4, MobileTrading, MT5, FBS app |
Min deposit | $250 | No | $100 | $5 | $25 | $5 |
Leverage |
From 1:1 to 1:400 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:40 to 1:1000 |
From 1:1 to 1:3000 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | No |
Spread | From 0.9 points | From 0 points | From 0 points | From 0.8 points | From 0.6 points | From 1 point |
Level of margin call / stop out |
100% / 20% | No / 50% | 80% / 50% | 100% / 50% | 25% / 15% | 40% / 20% |
Order Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | No | No | No | No | No |
Detailed Review of Mirrox
Mirrox offers access to Forex (with over 40 currency pairs) and other CFD markets. Its platform allows for trading with high leverage: up to 1:400 for currency pairs, up to 1:200 for commodities, indices, and metals, and up to 1:5 for stocks and cryptocurrencies. The Mirrox trading platform, available in more than 20 languages, features 20 built-in technical analysis indicators and advanced price charts. It also supports instant price alerts and one-click trading. WebTrader is the broker’s proprietary platform with real-time streaming quotes, access to stop-loss/take-profit options, watchlists, and advanced statistics on trades and financial transactions.
Mirrox’s trading platforms:
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WebTrader: Mirrox’s proprietary browser-based platform, compatible with any device. It streams TradingView charts, has a customizable interface, and offers built-in tools for conducting technical analysis of markets.
Mirrox by the numbers:
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5 live account types;
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Demo account with a deposit of $100,000;
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160+ trading instruments;
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Leverage up to 1:5-1:400 depending on the asset.
Services offered by Mirrox:
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Active CFD trading with leverage;
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Trading support 24/7;
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Market data and educational materials.
Promotions and bonuses:
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Rebate for trading fees for partners;
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Bonus Scheme.
Advantages:
Access to educational materials for beginners;
24/7 client support;
Ability to start trading without verification;
Flexible leverage options for trading;
Robust personal data and client funds protection;
Regular platform updates and feature enhancements.
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