Millennium FX Review

Millennium FX Review

Millennium FX Review

A new broker is upon us! This time, we will be analyzing a newcomer to the forex industry. Founded in 2017 and headquartered in the small country of Estonia, this company is looking to make some noise on the market. And you know what? They certainly have what it takes to do it!

Some of the features we found here were quite impressive, and pretty much all the most important kinds of forex trading are very well covered. Most importantly, though, you get a huge ammount of support, which is something every trader will appreciate.

Join us as we peer into every aspect of this website and bring you all the most important details of its offer. Read on, our Millennium FX review is about to begin.

PROS

CONS

– an incredible array of assets

– loads of payment methods

– free trading signals

– extensive education

– low minimum withdrawal

– minimum deposit could perhaps be slightly lower

Which Millennium FX accounts are there?

You know how things go, you can’t start trading without an account. Therefore, we will first take a look at Millennium FX account types you can open. There are four of them in total – Beginner, Silver, Gold and Diamond – each with a carefully designed set of features. However, they do have a lot features in common, too. For example, each Millennium FX account will provide you with your own account manager, constant support and daily analyses, as well as 0.01 minimum lot size. Not a bad start, eh?
What sets these accounts apart is the fact that the first two have floating spreads, whereas Gold and Diamond accounts have their spreads fixed. In addition, the latter two also provide you with free bank wire transfers, which is not the case with Beginner and Silver accounts. It is interesting to note that Silver and Diamond accounts also offer free VPS hosting, a pretty unique offer in today’s trading industry. Note that you can have multiple accounts open at the same time and transfer funds between them effortlessly from your user interface, which is something we believe many traders will be interested in.
But how much do you need to invest to open any of the aforementioned Millennium FX account types? Well, a Beginner account will need 250 USD, a Silver version will ask for 5000 dollars, while the Gold account requires 25,000 USD to activate. The initial investment for a Diamond-level account is not stated on the website, so you will have to talk to the support team to get that information. But not before you finish this Millennium FX review, of course.

Millennium FX Account Types

Millennium FX Account Types

Don’t forget about the demo

If you don’t want to make any investments before you get to know the offer here (and there really is a lot to explore, more on that later), you don’t have to start trading on the real market. There is also the option of activating your Millennium FX demo account, but for that you will have to create a real account first and complete the login. After that, you can easily switch between the real and demo account whenever you want.
We feel that this feature is pretty much necessary these days, not just because it allows new traders to familiarize themselves with the platform, but also because it is an excellent learning tool. Given how extensive the education section is on this website (we will also analyze that later in this Millennium FX review), it’s great that you have a place where you can see how much you’ve learned without any risks. But it’s not just the educational features, the platform itself is extremely rich with tools and assets, so spending some time with the Millennium FX demo account is certainly a good idea. There is so much to enjoy here that you may feel a bit overwhelmed when you see how many choices you have. But don’t let that scare you, it’s just a sign that the offer is extremely good on this website. That also applies to the finances which will be discussed in the next part of the article.

Loads of Millennium FX deposit methods

Like we said earlier in this article, you need 250 USD to open the smallest live trading account here. This is also the minimum Millennium FX deposit you can make, which is fairly average in the trading industry. There certainly are brokers with lower requirements, but this requirement is actually pretty common.
However, when it comes to Millennium FX deposit methods, we see some pretty interesting details. Apart from bank transfers, you can also use credit and debit cards, a whole lot of them! Visa and MasterCard are standard in the industry, but these guys also offer Visa Electron, Diners and you can even find an American Express icon at the bottom of the website. This last option is exceptionally rare in the trading world, so the broker deserves praise for offering it.
Other Millennium FX deposit methods include things like Poli, Skrill, Neteller and WebMoney, but you can also deposit in Bitcoin if you want. Apart from that virtual currency, the fiat currencies accepted are USD, GBP and EUR, but you can make a deposit in whichever currency you have and it will automatically be exchanged in accordance with the current exchange rate. This is pretty much everything you need to know about this process, so let’s now take a look at how you can get the money back. Don’t go away.

Millennium FX Deposit Methods

Millennium FX Deposit Methods

How does Millennium FX withdrawal work?

After the deposit, it’s natural our Millennium FX review has to also look at the withdrawal process, arguably the most important part of any trading experience. There are some interesting details over here, so this should be a pretty interesting read.
First of all, the methods you can use are pretty much the same except for Bitcoin – you can’t use the coin to withdraw. Remeber that you also have to use the same currency you used when you deposited funds in your account. However, there is a catch because if you’re using a credit card for this, your Millennium FX withdrawal can only be lower or equal you made through that credit card. In other words, what you deposit goes back to you through your card, whereas the profits can be withdrawn via some of the other methods (bank transfer, for example). This is all once again very standard in this business, but people often forget it, so we thought it would be good to emphasize it.
Minimum Millennium FX withdrawal is set to 50 USD, EUR or GBP, which is one financial aspect of this website that is much more favorable than what most other brokers demand. A big plus to the company for this. Additionally, it will take up to about five days for the transfer to be completed in its entirety. When it comes to Millennium FX withdrawal fees, however, your first withdrawal each month will be completely free of charge. Every subsequent transaction will cost you 20 GBP, 25 EUR or 30 USD.
So, the bottom line is that the broker treats its withdrawal in accordance with the industry’s standard practices, but offers a lower minimum requirement than many competitors. That’s not the only thing that separates these guys from their competition, though. Read on and learn more details.

Millennium FX Withdrawal Details

Millennium FX Withdrawal Details

Get something extra for signing up

While we’re discussing topics concerning financial aspect of trading on this website, we simply have to mention Millennium FX bonus policy. Yes, you can count on some extra trading funds, but that’s what we’ve come to expect from these companies, right?
The most important type of Millennium FX bonus is the welcome bonus, which can go up to 100%. This, of course, depends on how much you deposit (the bigger your deposit, the bigger bonus you get), but the fact remains that you will be able to double your trading funds. Other bonuses and promotions may also appear, but this will depend on the broker’s plans and dispositions. Sometimes the funds you get are completely voluntary, whereas otherwise they have to be agreed upon. Please note, however, that every Millennium FX bonus you recieve will not be immediately available for withdrawal, but certain conditions will have to be met (such as the required turnover, for example). Naturally, you can always decline the offer if you don’t want to be burdened by these additional conditions. You remain in complete control, no doubt about that, so don’t worry about a thing. This pretty much wraps up everything concerning the finances on this website, so let’s see what else there is to analyze in this Millennium FX review. We now turn our attention to the trading environment.

A spectacular trading platform

Since we have now covered pretty much all other aspects related to trading here, it’s time to take a look at the platform in this Millennium FX review, too. We are talking about MetaTrader 4 in this case, whose quality really needs no special introduction, but we will still take a look at some of the more interesting details.
First of all, we have to emphasize that you can trade forex and CFDs here, all with the support of some excellent trading tools and very helpful indicators. The Millennium FX platform can be used in two ways – you can download it to your computer from the broker’s website, or you can use the Webtrader to trade from it via your web browser. No matter which option you choose, though, every price will be updated regularly and your orders will always be executed as quickly as possible. A neat little feature is the fact that you can view the disposition of other traders at every time, too.

Millennium FX MT4

Millennium FX MT4

But the biggest advantage Millennium FX platform has to offer has to be the number of assets. It’s simply staggering. There are more than 150 stocks alone you can choose from, plus indices and commodities. On top of that, there are about 50 pairs involving cryptocurrencies (Bitcoin, Ripple, Ethereum, Litecoin and Dash are all there) and about the same amount of fiat currencies. What is particularly interesting in the latter group is the variety you get because apart from the biggest and most popular currencies like USD, EUR and GBP, currencies from countries like Mexico, Norway and Turkey are also represented. In total, we estimate around 350 assets to be available at this point, which is certainly an extremely impressive amount, one of the most impressive things we have come across in our Millennium FX review. The biggest leverage you can get here is 1:100, which is once again a fairly standard amount. Minimum spreads, on the other hand, depend on the account type you have – they are 1.2 for the Beginner account, 1 for Silver and 0.8 for Gold (all for EUR/USD pair), but for the Diamond account you will have to talk to the broker yourself and see what they have to offer you. In any case, these are all rock-solid numbers, so we can conclude that you will surely enjoy your trading expereince here. However, that doesn’t mean we don’t have anything else to discuss. Stay tuned, there are plenty more details you need to know about!

Millennium FX signals!

If all this seems a little bit too much for you and you simply don’t know where to start, don’t worry. The broker has implemented several ways to help you with that, and in this part of our Millennium FX review, we want to talk about the most interesting one. You see, you can get trading signals on this website.
Here’s how it works. First, you have to complete the login and get to your account interface. Next, head on to the Market Analysis tab. You will see a small screen for the signals in the lower left corner of your screen. Just don’t forget to toggle the „Notify Me“ button on, otherwise your Millennium FX signals will not be able to reach you. You also have a detailed economic calendar on this page, so you will really be able to develop a detailed trading strategy.
Of course, these signals are just suggestions, pointers where to look for a decent opportunity for profity. But what makes them even more attractive is the fact that Millennium FX signals are completely free. Yes, you don’t ever have to pay a cent for using them, which is is another big plus for the company. This is not a feature you see all that often, let alone completely free, so we are very pleased to see that these guys have once again thought about making your user experience better and that they have actually invested significant effort into it. Additionally, since the signals are issued by experienced traders, they also have a high chance for success. But there is one more way you can get help from the company. The next part of Millennium FX review will show you what we mean. 

Millennium FX Mobile App

Millennium FX Mobile App

How about some education?

In order to be able to master this platform in the most efficient manner possible, you may want to expand your trading knowledge. The broker has got you covered there because their education section is simply excellent and you can clearly see a lot of effort has gone into creating this part of the website.
Sure, you have your e-books and educational videos here, but if you take a closer look, you will see other, extremely interesting options. For example, Millennium FX educational section allows you to actually test your knowledge through four short quizes. This is not something you see every day, so thumbs up for implementing it. But the things that really show how much these guys want to help you be a better trader are webinars and one-on-one coaching sessions. In both of these cases, you will be dealing with a very experienced and knowledgeable person with whom you can discuss all your trading ideas and really learn a lot. In our honest opinion, learning this way is always better and more efficient because you actually get some feedback from the other side and you can immediately clarify things you don’t grasp at first.  
Since we’re talking about interaction with the broker’s staff, we’ll continue this Millennium FX review with a closer look at the company’s customer support. Keep reading!

The support team is excellent

OK, so we all know how important it is to get help from your broker when you need it. You can see from the last paragraph that these guys take that quite seriously when it comes to providing education, but what about when you want to know something about more general trading matters?
Millennium FX support consists of communication via e-mail, live chat nad phone, and for the former you also have a handy form on the website you can use to send your inquiry. The support team is online 24/5, which should be more than enough to clarify everything you want to know, especially if you’re using the live chat to get in touch. We are talking about seasoned trading veterans here, so they will know perfectly well what you need and what you want to ask, be it about the market or about the website itself.
What is interesting to note is how active Millennium FX is on social media, where you can also contact them, so we view that as a method of providing support, too. Facebook, Twitter, LinkedIn, Instagram and even Google Plus are all platforms where the company has its accounts, so do check them out if you’re there. In any case, our conclusion is that you can count on superb asistance when you need it. One more, but a very important part of Millennium FX review to go before we wrap things up.

Are there any Millennium FX complaints?

After everything we have examined in this review, are there any Millennium FX complaints that should be mentioned here? One potential complaint is that the broker is not regulated, but they are still new and, as we have already mentioned in our Millennium FX Scam Test, they are in the process of acquiring their CySEC license. Given everything we saw here, we have no doubt that they will get it.
But to get a more realistic feel of how this offer resonates  with trades, we did a little survey and interviewed some people trading here. Most commonly, Millennium FX complaints, if we can call them that, were directed at the minimum deposit requirement, which people think could be lower. It’s not that this was something that averted traders from investing here, but they just thing a lower requirement could go a long way in providing easier access for many other people who are looking to enter the market. This was the most consistant comment we got, but we have to say that the size of the minimum deposit you are asked to make here is nothing unusual. True, there are lower ones, but this one is actually pretty standard.
Apart from that, we also got some other Millennium FX complaints, but they were pretty inconsistent and people making them could not back them up with any evidence, so we think that it wouldn’t be fair to mention them here. What we can tell you that the positive feedback prevailed by a lot and that many people simply like to trade here. With that, we will bring this analysis to a close with one short recap of everything we said.

Conclusion

In short, the time we invested into examining this broker for our Millennium FX review was very pleasant and very well spent. The company adheres to all standard practices in the industry, but every now and again surprises you with a significant improvement. Take financial requirements for example – the deposit is pretty standard, but the deposit options are much more numerous than what you’d expect. The withdrawal fees work also in a pretty standard manner, but the minimum withdrawal requirement is lower than usual. The same goes for the platform: MetaTrader4 is the most popular trading software in the world, but what they have done with it in terms of assets in extremely impressive. You can also use a handy demo account, which can become a very powerful learning tool, especially if you make the most of the special education options you get here. The account types do the job just splendidly, plus you always have a great support crew watching out for you. You can even get Millennium FX signals here to help you out! Considering all of that, we firmly believe this new company will make its presence known in the trading industry. It is an excellent choice for all kinds of traders, and you should definitely open an account with them and give them a shot. You’ll love what you get from this website.

Author's overall rating:
Author: Ben Prescott
Updated:

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