Trusted European Broker
Mind Money, a European-regulated broker under CySEC, offers a vast selection of over 1,000,000 investment instruments, including stocks, bonds, ETFs, and futures. It stands out with insured accounts up to $20,000 and specialized expertise in bonds and ETFs, making it a reliable choice for portfolio-focused traders.
Expert Reviewer Verdict
Mind Money appeals to investors seeking a secure, regulated European broker with a strong focus on portfolio management. With over 1,000,000 investment instruments, including stocks, bonds, ETFs, and futures, it caters to both beginners and experienced traders. Accounts are insured up to $20,000, adding a layer of security not commonly found with other brokers. Its expertise in bonds and ETFs makes it particularly attractive to those looking to diversify their portfolios.
Additionally, the absence of a mobile app could be a drawback for those who prefer on-the-go trading. Despite these limitations, Mind Money’s emphasis on security and variety makes it a solid choice for serious investors.
Pros and Cons
Pros
- Licensed European Broker (CySEC)
- Accounts Insured up to $20,000
- 1,000,000+ Investment Instruments
- Expertise in Bonds and ETFs
- No Minimum Deposit Required
Cons
- No Forex or Cryptocurrency Trading
- No Mobile Trading App Available
- Only Supports Bank Transfers
Trust and Safety
Robust Security and Compliance
Mind Money ensures a high level of trust and safety through stringent regulatory oversight and multiple security measures. As a licensed European broker, it is regulated by CySEC, providing users with the reassurance of compliance with strict financial standards. Client funds are protected through segregated accounts, ensuring that trader assets remain separate from the company’s operational funds.
To prevent fraud, Mind Money employs a comprehensive KYC (Know Your Customer) and AML (Anti-Money Laundering) process, which includes identity verification and document uploads. Additionally, every transaction is secured with session security measures and a confirmation code to maintain the integrity of users’ activities. These robust security features work together to provide a secure trading environment, fostering trust among users.
|
Regulatory Body |
Status |
|
ASIC |
No |
|
CySEC |
Yes |
|
DFSA |
Yes |
|
EFSA |
No |
|
FCA |
No |
|
FMA |
Yes |
|
FSA (SC) |
Yes |
|
FSCA |
No |
|
FSC |
No |
|
JFSA |
No |
|
MAS |
No |
|
MiFID |
Yes |
|
ESMA |
Yes |
|
CONSOB |
Yes |
|
FME |
Yes |
|
LB |
Yes |
|
AFM |
Yes |
|
FSMA |
Yes |
|
MNB |
Yes |
|
BaFin |
Yes |
|
CNMV |
Yes |
|
CONSOB |
Yes |
|
UKNF |
Yes |
Tradable Instruments
Diverse Range of Investment
Mind Money offers traders a broad spectrum of investment opportunities, with access to over 1,000,000 tradable instruments. The broker specializes in stocks, bonds, ETFs, and exchange-traded futures, catering to a wide array of investor needs. This extensive selection allows both novice and experienced traders to build diverse portfolios, balancing risk across different asset classes.
Mind Money’s expertise in bonds and ETFs particularly appeals to those looking for stability and steady returns in their investments. However, traders interested in more speculative opportunities may find the platform limited, as it does not support Forex, cryptocurrency, or options trading. Despite this, the range of available instruments makes Mind Money a strong contender for those focused on long-term portfolio management and steady growth.
|
Trading Instrument |
Available |
|
COMMODITIES |
Yes |
|
CURRENCIES |
No |
|
CRYPTOCURRENCIES |
No |
|
ETF |
Yes |
|
FUTURES |
Yes |
|
INDICES |
Yes |
|
STOCKS |
Yes |
|
BONDS |
Yes |
|
OPTIONS |
Yes |
Account Types
Flexible Account Options
Mind Money offers two distinct account types to cater to a range of investor needs: the Smart and Expert accounts. The Smart account is designed for independent traders who prefer to manage their own investments, making it a suitable choice for those with a good understanding of the market. It offers competitive pricing with a focus on direct access to various global markets.
The Expert account is tailored for traders seeking a more guided approach, providing access to professional insights and expert support. This account type is ideal for investors looking for a blend of self-directed trading with the advantage of expert advice. Both account types come with features such as segregated accounts, ensuring added security for client funds, and are suitable for both beginners and professionals. With no minimum deposit requirement, Mind Money allows traders of all levels to start investing with ease.
|
Account Type |
Available |
|
DEMO ACCOUNT |
Yes |
|
ISLAMIC ACCOUNT |
No |
|
SEGREGATED ACCOUNT |
Yes |
|
MANAGED ACCOUNT |
Yes |
|
SUITABLE FOR BEGINNERS |
Yes |
|
SUITABLE FOR PROFESSIONALS |
Yes |
|
US TRADER |
No |
Commission and Fees
Simple and Transparent Pricing
Mind Money offers a clear fee structure that caters to different trading needs, making it a competitive choice for investors.
Account Minimum
Mind Money does not require a minimum deposit, making it accessible to all types of traders, regardless of their starting capital.
Trading Fees
The Smart account charges a minimum of $1 plus $0.01 per share for trades under $1 and 0.1% of the trade value for shares over $1. The Expert account charges 1% of the trade value, with a minimum fee of $1.
CFD Fees
Mind Money does not offer CFD trading, and thus no CFD fees apply.
Forex Fees
Forex trading is not available on the Mind Money platform, so no fees are charged for Forex.
Futures Fees
For exchange-traded futures, the Smart account has a trade commission of $1.20 per contract, while the Expert account charges 1% of the trade value with a $1 minimum.
Account Fee
There are no account maintenance fees, making it cost-effective for users.
Inactivity Fee
Mind Money does not charge any inactivity fees, providing flexibility for less frequent traders.
Deposit Fee
No fees are applied to deposits, allowing users to add funds at no extra cost.
Withdrawal Fee
A 0.15% fee applies to all withdrawals, which should be considered when managing funds.
Overnight Funding Fee
Mind Money charges a negative balance fee of 14% per annum.
Currency Conversion Fee
There are no currency conversion fees, simplifying international transactions.
Guaranteed Stop Order Fee
Mind Money does not charge fees for guaranteed stop orders, adding value for traders.
Trading Platforms
Simple Yet Robust Platform
Mind Money offers a proprietary trading platform designed to meet the needs of both beginners and experienced traders. This platform supports a wide range of trading instruments, allowing users to access markets with ease.
Mobile Trading Apps
Mind Money does not currently offer a mobile trading app, which could be a drawback for traders who prefer to manage their investments on the go.
Web Trading Apps
The broker provides a user-friendly web-based trading platform, allowing traders to access their accounts and execute trades directly from their web browser without the need for downloads.
Desktop Trading Apps
Mind Money does not offer a dedicated desktop trading app. Traders who prefer desktop-based trading will need to rely on the web platform for their trading activities.
|
Trading Platform |
Available |
|
MT4 |
No |
|
MT5 |
No |
|
CTRADER |
No |
|
PROPRIETARY |
Yes |
|
Desktop and Web Platform |
Available |
|
DESKTOP WINDOWS |
No |
|
DESKTOP MAC |
No |
|
WEB PLATFORM |
Yes |
|
Mobile Platform |
Available |
|
ANDROID |
Yes |
|
iOS |
Yes |
Unique Features
Standout Benefits for Investors
Mind Money sets itself apart with several unique features that appeal to a wide range of traders. As a licensed European broker under CySEC, it offers the assurance of regulatory compliance, along with the security of segregated accounts, which keep client funds safe. Accounts with balances up to $20,000 are insured, providing an extra layer of protection.
With access to over 1,000,000 investment instruments, including a strong focus on bonds and ETFs, Mind Money enables investors to diversify their portfolios effectively. The broker also supports managed accounts, catering to those who prefer expert guidance. While it may not offer Forex or cryptocurrency trading, its comprehensive approach to portfolio management makes it a reliable choice for investors seeking stability and growth.
Research and Education
Limited Learning Resources
Mind Money does not offer dedicated research and educational tools for its users, which might be a drawback for traders looking to deepen their market knowledge or stay updated on investment trends. The absence of in-depth research materials, webinars, or educational courses means that traders will need to rely on external resources to enhance their trading skills and market understanding. While this may suit experienced traders who already have a strong grasp of the market, beginners might find the lack of educational support challenging. However, those who prioritize access to a wide range of tradable instruments and secure trading conditions may still find Mind Money a suitable platform despite the limited educational offerings.
Customer Support
Reliable Support for Your Needs
Mind Money provides straightforward customer support options to assist its users. Traders can reach the support team through email or phone, ensuring they have direct channels for addressing any concerns or inquiries. The support team operates during business hours, available from 9:00 AM to 8:00 PM, Cyprus time, Monday through Friday. While the absence of live chat or a chatbot might limit real-time assistance, the availability of phone support helps address urgent matters more efficiently. This support structure is best suited for those who prefer direct communication methods over digital solutions. Though limited in options, Mind Money’s customer support aims to provide a reliable experience, helping traders manage their accounts and resolve issues within the available time frame.
Account Opening
Quick and Secure Registration
Mind Money’s account opening process is designed to be straightforward and secure.
Registration:
To start, users need to complete an online registration form on the Mind Money website, providing basic personal information.
Verification:
After registration, the broker requires identity verification through a KYC (Know Your Customer) process, ensuring compliance with regulatory standards. This step includes verifying identity and confirming the user’s residential address.
Document Upload:
Users must upload an ID with a photo, a signed application for joining, proof of residence, and other necessary documents as part of the verification process. Additional scans of documents may also be required for further verification.
This thorough process ensures that only verified users gain access to the platform, providing a secure environment for trading.
Deposit and Withdrawals
Simple Bank Transfer Process
Mind Money offers a straightforward process for both deposits and withdrawals.
Deposits:
Deposits can be made through bank transfers, providing a secure and familiar method for adding funds to your account. The broker does not charge any fees for deposits, allowing users to add money to their accounts without additional costs.
Withdrawals:
Withdrawals are also processed through bank transfers, with a fee of 0.15% applied to each transaction. This fee should be considered when planning fund transfers out of your account.
The deposit and withdrawal process is designed to be simple, though limited to bank transfers, which may suit traders comfortable with this method.
Final Thoughts
Mind Money is a reliable choice for investors seeking a regulated European broker with a focus on security and diverse investment options. With its licensing under CySEC and features like insured accounts up to $20,000, it offers a safe environment for trading. The extensive range of over 1,000,000 investment instruments, including bonds and ETFs, makes it suitable for those looking to build a well-rounded portfolio.
However, the absence of Forex, cryptocurrency trading, and a mobile app may be a limitation for more active traders. While it lacks in research and educational tools, Mind Money compensates with strong customer support and a user-friendly web platform. Overall, it’s a good fit for traders focused on long-term investments and portfolio management, who value security and regulatory oversight.
Contact Info
13-15 Grigory Afxentiou Street I.D.E. Ioannou Building – Office 202 Mesa Geitonia, CY-4003 Limassol, Cyprus
FAQs
-
Question: Is Mind Money a regulated broker?
Answer: Yes, Mind Money is regulated by CySEC, providing assurance of compliance with European financial standards. -
Question: What investment options does Mind Money offer?
Answer: Mind Money offers over 1,000,000 investment instruments, including stocks, bonds, ETFs, and futures, making it suitable for portfolio diversification. -
Question: Does Mind Money charge any deposit fees?
Answer: No, Mind Money does not charge any fees for deposits, allowing users to add funds without extra costs. -
Question: Are there any mobile trading apps available?
Answer: No, Mind Money does not offer a mobile trading app, but it provides a user-friendly web-based platform for trading.
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