MH Markets Review 2026: Regulation, Accounts, Fees and Red Flags

Short answer: MH Markets is the trading brand of Mohicans Markets (Ltd), which says it holds an FSC Mauritius Investment Dealer licence, GB20026131. That is the only licence it names. In April 2026 the UAE Capital Market Authority warned investors not to deal with Mohicans Markets Ltd and mhmarkets.com because it is not licensed in the UAE. Accounts start at USD 50 (Standard), USD 100 (Prime) and USD 1,000 (ECN), with floating leverage up to 1:2000.

How this review was made: we read MH Markets’ website, help centre, Mauritius Client Agreement (version 2.0, effective 7 July 2026) and regulator registers and warning lists as of October 2026. We have not opened a live account, so this edition has no measured spreads or withdrawal times.

MH Markets in four numbers. Source: MH Markets website, help centre and Client Agreement, UAE CMA warning list, October 2026.

MH Markets at a glance

Is MH Markets safe and legit?

MH Markets is a brand. The help centre says the brand and the “contracting company” in your client agreement are different, and for account opening, transfers or complaints you should use “the full company name stated in your client agreement” (source).

The licensed company

The licence details come from the regulations page (source) and the help centre’s licence guide (source). The FSC’s online public register lists MOHICANS MARKETS as an “Investment Dealer (Full Service Dealer excluding Underwriting)” licensed on 05/01/2021, with no annotation, as of October 2026 (FSC register). The register list does not show licence numbers, so GB20026131 comes from MH Markets’ own pages.

The website footer says MH Markets works “through a network of licensed entities” and assigns clients to “the appropriate licensed entity based on their jurisdiction” (source). Yet the only licensed company named on the website, the help centre and the Client Agreement is Mohicans Markets (Ltd). The published Client Agreement (version 2.0, effective 07/07/2026) is between you and “Mohicans Markets”, described as licensed in Mauritius as an Investment Dealer (Client Agreement). The help centre adds that your country of registration decides which regulator applies and that the “Welcome to MH Markets” email confirms it (source). Check that email before you deposit.

The UAE regulator warning

On 27 April 2026 the UAE Capital Market Authority (CMA, formerly the Securities and Commodities Authority) added “Mohicans Markets Ltd - Website: https://www.mhmarkets.com”, with the address Dubai, to its warning list. The CMA “advises investors to refrain from dealing with this company, or accessing its website, as it is not licensed to conduct regulated financial activities or provide related services” (UAE CMA warnings). The same warning appears in IOSCO’s I-SCAN database as warning 51798, category “Unregistered/Unlicensed entity offering financial products or services” (IOSCO I-SCAN).

This matters beyond the UAE. MH Markets runs a separate UAE section of its website (source), its contact page lists a Dubai phone number, +971 4 364 8900 (source), and the account types page lists Emirates ID documents and AED card deposits for UAE clients (source). We found no UAE licence named anywhere on the website or in the help centre.

Other checks: the FCA’s Warning List returned no entry for “MH Markets” or “Mohicans” (FCA), and I-SCAN showed no other regulator warning for the brand as of October 2026. Neither list is complete, so a missing name does not mean a firm is authorised.

What protection you do not get

• No compensation scheme or ombudsman named. The Client Agreement says complaints go to the firm by email under its own “Complaints Handling Procedure”. The help centre complaint guide sends disputes to the help centre and then to “the complaint policy applicable to your account” (source). None of the documents we read name an external ombudsman, a dispute body or a compensation fund.
• Segregation is not insurance. The help centre says client funds are kept separate from company money, then adds that segregation “is distinct from bank-deposit protection or investor-compensation schemes and does not cover trading losses” (source). The Client Agreement does not describe how client money is held and says no interest is paid on it.
• No UK, EU or Australian retail rules. There are no leverage caps of the kind those regulators set, which is why 1:2000 is on offer.
• Venue chosen by the broker. Clause 16 says the agreement is governed by “the local laws” and that any court or arbitration case “shall be held, at the sole discretion of MH Markets”, and you waive objections to that venue.

How MH Markets makes money

Mohicans Markets deals “as principal”, and clause 1 of the agreement says both sides “enter into contracts as principal”. In plain terms, MH Markets is the other side of your trade, and it earns from spreads, the ECN commission and swaps (source).

MH Markets account types

The website account page gives the first spread row (source). The help centre’s account pages give the second: Standard “from 1.5 pips” (source), Prime “from 0.6 pips” (updated 22 October 2026) (source) and ECN “from 0.1 pips” (source). The two sources disagree on every account, so compare live spreads on a demo before you choose.

ECN commission: the help centre says only that a commission is charged “per lot” and that you can see it in MetaTrader’s Trade tab (source). We could not confirm the amount from any public page. Ask support for it in writing before funding an ECN account, then compare it with the Prime spread.

Activation by total deposits: the deposit rules article says an account type is activated once your total deposits across all accounts reach its minimum. Its example: 50 USD into Standard activates every Standard account you hold, and an extra 950 USD then activates ECN as well (source).

Other account rules:

• Up to 10 live accounts, 10 MT4 demo accounts and 10 MT5 demo accounts per client (source).
• Maximum trade size is 100 lots per instrument, minimum 0.01 lots (source).
• Markets: forex, futures, indices, stocks, commodities and metals as CFDs (source). We did not find a published total instrument count.

Fees

The withdrawal fee rows come from the withdrawal guide, updated 7 October 2026 (source). The same guide says Southeast Asian clients follow a slightly different table: bank transfer withdrawals are free from 100 USD and cost 5 USD below that, while digital, card, wire and e-wallet withdrawals are free from 300 USD.

Swap example from the help centre: holding 1 lot of EUR/USD for one night at a demonstration swap rate of 4.5243 points costs 4.52 USD (4.5243 × 1 lot × 1 day). Real rates change and are shown in MetaTrader’s contract specifications. Our swap explainer covers how the rate is set.

Inactive accounts: the help centre says a live account is archived after 90 days with no login, no balance operations, no open trades and equity below 15 USD, and the balance moves to your internal wallet (source). Separately, clause 7 of the Online Trading Agreement says MH Markets “may charge an inactivity fee for a period of over 6 months of no trading activity” when the balance is positive. We found no published amount.

Swap-free accounts are available on request with proof of Islamic religion. Each position is swap-free for 7 days and pays swap from the 8th day, or from the 4th day on exotic pairs (source).

Leverage, margin call and stop out

MH Markets offers two leverage modes, and you pick one per account (source):

• Fixed leverage: up to 1:500, set in the client portal (source).
• Floating leverage: changes with real-time equity, up to 1:2000 on small accounts.

Scheduled leverage cuts: the Leverage Adjustment Policy, updated 19 October 2026, cuts leverage on new and open positions in three windows (source):

The cuts apply only when your margin level is 200% or higher (or 0%, with no open positions) and your leverage is above 1:500. Because they hit open positions too, a trade that was safe can suddenly need more margin. You can also change leverage yourself up to 5 times a week, during market hours (source).

Margin call and stop out: the margin call is a warning at 50% margin level. At 30%, MH Markets closes positions one by one, starting with the largest loss, until the margin level is back above 30% (source). Our guide to margin calls and stop outs explains the maths.

Negative balance protection: conditional

The help centre says that if an eligible live account goes negative, “our system will automatically reset it to zero at the end of the day”, and that you should not deposit while the balance is negative because the deposit would cover the debt first. The same article warns that the protection is “not a universal default”, must be confirmed “based on the written terms for the actual contracting entity”, and that until then you should not assume losses are capped at your deposit (source).

The Client Agreement has no negative balance protection clause. Its risk warning says you “may sustain a total loss greater than the funds deposited”, while another passage says MH Markets “may set zero-stop orders” so that clients “cannot lose more than their initial commitment”. Clause 23 also lists “negative balance protection” among features clients must not exploit. Treat the reset as possible, not guaranteed.

Deposits and withdrawals

Deposit methods depend on your region and may include bank wire, cards, local bank transfers and QR-code payments (source). The account types page is narrower: bank transfer for USD accounts only, card deposits in AED for UAE clients only, and crypto available globally (source). Third-party deposits are declined and returned (source).

Times come from the withdrawal guide (source) and minimums from the limits article (source). If your balance is below the minimum, the help centre says you may deposit the difference and then withdraw.

Rules to know before you fund:

• Withdrawals go back by the deposit method first. Card deposits can only be returned to the card up to the amount deposited, and profit above that is paid by USDT (source).
• Third-party withdrawals are not allowed; the receiving account must be in your name (source).
• With open positions and a margin level between 100% and 200%, you get a “Withdrawal Risk Exposure” notice to confirm, and any promotional credit is deducted before a withdrawal (source).
• A withdrawal may be restricted if it would push the margin level below 200% (source).
• Myanmar clients can withdraw in USDT only (source).

Trading rules: EAs, scalping and hedging

The help centre says EAs can be used, scalping “may be permitted”, and arbitrage and hedging depend on the account terms. It advises asking for written clarification before running an automated or high-frequency strategy (source).

There is also a hard limit on order traffic. At 5,000 server messages a day (opening, closing, modifying or cancelling orders) you get a warning email, and at 10,000 trading on the account is suspended until you contact support (source).

Platforms, social trading and demo

• Platforms: MT4, MT5, WebTrader and the MT4/MT5 mobile apps. Live accounts can also be connected to TradingView (source).
• Social trading: MH Markets runs an in-house copy trading platform. Strategy providers set a performance fee of 0% to 70% of profits, charged on a high-water-mark basis (source). A 70% fee would take most of any profit, so check the provider’s rate first. Our explainer on copy trading covers the wider risks.
• Demo accounts: fixed leverage only and no documents needed. The help centre gives three different lifespans: 6 months (source), one month on MT5 and 90 days on MT4 (source), and archiving after 3 months (source). Plan for the shortest.

Bonuses

MH Markets does not offer a no-deposit bonus (source). Its deposit offers, as described in the help centre:

• 10% trading bonus (1 October to 31 December 2026): minimum deposit 500 USD, apply within 48 hours, and trade a volume requirement within 90 days. In the help centre’s example, a 1,000 USD deposit earns 100 USD of bonus and needs 25 lots. Positions held under 3 minutes do not count, a negative balance reset removes the bonus, and clients from Laos and Thailand are excluded (source). The website’s bonus page still shows the earlier period, 1 July to 30 September 2026 (source).
• USDT deposit bonus for new clients (1 October to 31 December 2026): minimum 1,000 USD by USDT. In the example, a 6,000 USD deposit needs 24 lots for a 60 USD bonus, paid after month-end (source).

Some bonus credit is “non-losable”: if equity falls below the credit amount, positions can be closed automatically and the credit removed (source).

Is MH Markets available in my country?

We did not find a published list of restricted countries. The website footer excludes “the United States and jurisdictions designated as high-risk or subject to sanctions by the Financial Action Task Force (FATF) or major international sanctions authorities” (source). The help centre says that if your country is missing from the sign-up form, regulation or a lack of operations may be the reason (source).

United States: MH Markets “cannot accept clients who reside in or hold a passport from the United States”. We do not suggest offshore brokers to US residents.

United Arab Emirates: the CMA warning above says Mohicans Markets is not licensed to offer regulated financial services in the UAE.

India: MH Markets is not named on the RBI Alert List (updated 19 November 2025), but the RBI says the list is not exhaustive and that a name missing from it should not be taken as authorised. MH Markets’ account page lists Aadhaar as the document for India residents. Under FEMA, Indian residents may trade forex only in permitted currency pairs through RBI-authorised persons, recognised Indian exchanges or RBI-authorised platforms, and MH Markets does not say it holds any Indian authorisation. If you are in India, weigh this legal risk before opening an account.

MH Markets alternatives

Bottom line

MH Markets offers three USD accounts from 50 USD, MT4 and MT5, five free withdrawals a month and detailed, dated help centre rules on leverage and withdrawals. The FSC of Mauritius register confirms the licence of its company, Mohicans Markets.

The risks outweigh that. The only named licence is offshore, the documents name no compensation scheme or ombudsman, negative balance protection is conditional, the ECN commission is unpublished, and the UAE regulator warned against the firm in April 2026 while MH Markets still markets to UAE residents.

If you still open an account, confirm the contracting company in your welcome email, start on a demo, use far less than 1:2000, skip the bonus, and only deposit money you can afford to lose.