ManCapitalGroup Review 2021: Should You Trade Forex with ManCapitalGroup? Find Out In This Honest, Actionable & Open Review (www.mancapitalgroup.com)
Hello, everyone! I am back with another Forex broker review. This time I am taking a look at ManCapitalGroup, one of the oldest forex brokers whose slogan is “Fast. Easy and Secure Online Trading.”
There are many respected reviews that praise ManCapitalGroup for its decent and easy-to-use trading platforms as well as great customer support. I will now explain why this forex broker is a decent option or whether you are better off looking for another option.
This review is primarily based on my personal experience over the last couple of months combined with feedback from the ManCapitalGroup traders I have been in touch with during this time. Also, I have also looked into forex forums, blogs, and social media groups to see what other traders think about this broker.
I will start by examining the trading conditions at ManCapitalGroup:
ManCapitalGroup Review: Trading Conditions
As with any forex broker, the trading conditions are an important factor to consider. There is a lot of competition in this industry, and brokers need to constantly evolve and improve their features if they want to keep up with the times.
One of the most appealing things about this broker is its low spread, which is 1 pip. 1 pip might not seem like a lot, but if you do your calculations, it can be quite significant, especially during volatile times. I have seen quotes anywhere from 5-10 pips at other Forex brokers when I have tried them, so ManCapitalGroup really does stand out from the crowd.
However, I want to point out that if you trade on a micro account, then this advantage is largely negated since the minimum lot size will be 0.01 (1 pip X 100 lots = 1 pip), which means trading with ManCapitalGroup will be just as expensive as other brokers, if not more.
However, the account minimum is extremely low at $250 – this is great if you are a beginner or just want to test out the waters before committing. In addition, ManCapitalGroup also offers spread betting for UK traders, who would be another cheap and easy entry point into this exciting industry.
Withdrawal Service
Withdrawal service is also pretty good, and most withdrawal requests will be processed in less than 24 hours. However, there are some reports of customers experiencing minimum delays, so the actual timeline may vary depending on your account status and payment method. This delay is similar to what I have seen from other Forex brokers, so it isn’t necessarily a negative.
As for payment methods, you can choose from bank wire transfers, credit/debit cards, and e-wallets.
One other thing worth mentioning is that ManCapitalGroup has recently updated its review process. In the past, you had to contact the broker if you wanted your withdrawal to be reviewed, but now, in an effort to process customer requests faster and improve service quality, they have decided to review withdrawals on their own.
Overall, things look pretty good when it comes to trading conditions. ManCapitalGroup offers average spreads while also having a very low account minimum, making it very accessible for beginners. Also, their withdrawal service is as good as you would expect from a Forex broker though there are some reports of minor delays among traders with too many withdrawals.
Design and Layout
One of the things that stood out to me was ManCapitalGroup’s trading platform. In my experience, you can tell a lot about how good or bad a broker is by its platform. The design and layout are usually an indication of the level of professionalism and attention to detail within a company, especially when it comes to forex brokers who have to focus on speed and ease of use. After all, traders want to feel in control when they are placing trades.
As you can see from the above screenshot, this platform is clean and simple yet gives all the information you would need for your trading. The layout itself displays a lot of data, such as the number of lots for each position, the current spread, all the needed trading indicators, and market analysis tools.
Customer Service and Education
As any trader knows, it is often difficult to find good customer service in this industry. That’s why I was pleasantly surprised by ManCapitalGroup’s excellent 24/5 live chat service. This is a great option for traders who are still learning and want someone to provide full support as they go through the different stages of their trading journey.
ManCapitalGroup also provides a wide variety of educational material to help you learn and understand how to trade better. This can be found on their website in the form of articles, blog posts, training videos about trading strategies, and explanations of the different market indicators that are so important for successful trading but often misunderstood by newbie traders.
ManCapitalGroup’s educational content is quite extensive, providing material for a variety of levels and areas. If you are a complete beginner, ManCapitalGroup will help you learn the basics before you even start trading.
ManCapitalGroup Review: Trading Platform & Software
this platform does not offer MT4, which is a bit of a let-down. My personal experience with MT4 has shown that it is one of the best trading platforms on the market, and I think most traders feel the same way. The interface is more intuitive and easier to use, giving you more information while taking up less space on your screen, so it’s easier for you to analyze and spot patterns.
However, ManCapitalGroup recently updated its platform to include several wonderful new features that are definitely worth your time. I tried my hand at a demo account and found the update quite enjoyable, especially the charting feature, which is now far more advanced and includes technical indicators like Fibonacci lines, financial lines & Gann analysis tools.
In terms of orders and trade management, ManCapitalGroup’s platform allows you to place all the necessary types with just one click: market, stop, limit, pending & trailing-stop, which is helpful if you are in a hurry or have multiple positions on at once. In addition, placing trades through the platform is also possible using your MT4 or MT5 desktop software.
Charts and Tools
As I mentioned before, ManCapitalGroup recently updated its platform with charting features that are more advanced than most others on the market:
Multi-currency – This is one of its best attributes because you can compare up to 4 different currency pairs and spot trends and patterns easier.
Tickers – another great feature that allows you to track an unlimited number of assets and view them in a different time zone, which is useful for traders who regularly trade across Asian markets
Technical analysis – ManCapitalGroup’s platform has an advanced charting tool that makes use of technical indicators like Fibonacci lines, financial lines & Gann analysis tools. You can even customize the color scheme to fit your style.
Pros and Cons of
Pros:
- Customer support live chat service 24/5 which is a great option for traders who are still learning and want someone to provide full support as they go through the different stages of their trading journey.
- A wide range of educational material is available on the website, in form of articles, blog posts training videos about trading strategies and explanations of the different market indicators which are so important for successful trading but often misunderstood by newbie traders.
- I like chart and tools options, currency pairs you can trade, and the trading platform.
Cons:
- ManCapitalGroup’s platform does not offer MT4, which is a bit of a let-down. My personal experience with MT4 has shown that it is one of the best trading platforms on the market, and I think most traders feel the same way. The interface is more intuitive and easier to use, giving you more information while taking up less space on your screen, so it’s easier for you to analyze and spot patterns.
- The platform needs to improve its eBook collection. Currently, they have only a few ebooks available, and it’s not that great.
- The broker’s software is also another aspect of ManCapitalGroup, which could use a little improvement because the trading platform is less user-friendly than other platforms on the market, especially when combined with its lack of MT4. In addition, traders who want to trade on multiple devices will find it difficult to do so because its platform doesn’t support mobile devices or tablets.
Conclusion
I really like how this platform presents everything in a simple way so traders can clearly see what is happening as they make their trades. For example, at many other brokers, it is hard to know exactly which direction your trade is going if you are using stop-loss orders because they don’t show on your charts.
At ManCapitalGroup, they have designed their platform to display the stop-loss order in a very clear way so you can see exactly where it is and what will happen if triggered.
Although there are some complaints that spreads could be higher at times, the general consensus is that they are really low, which is why I have given this platform a rating of 4.5 out of 5 stars for design and layout.
In conclusion, ManCapitalGroup trading conditions are very decent, with low spreads that, in my opinion, match their industry-leading execution speeds. You also get access to a wide range of trading tools and features as well as good research and educational resources.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.