Some scam brokers have become more sophisticated, purchasing inexpensive offshore licenses to appear legitimate. However, in practice, little has changed: they still promise the best trading conditions, rely on anonymous payment methods, and place traders at significant risk. In this Mirrox review, we’ll cover yet another such project. Its creators are attempting to lure clients with claims of 160+ trading instruments, a modern platform, complete fund security, and top-tier service. However, we’re confident that this is yet another scam project designed solely to steal users’ money. You’ll find all the details about this platform below.
Key Features
- Company Name: Capital Crest Ltd (Mirrox)
- Website: https://www.mirrox.com/
- Available Contacts: [email protected]; +447701426264
- Foundation: 2024
- Services: Forex/CFD trading
- License: MISA
- Initial Deposit: $250
From Sign-Up to Payout
The official website of Mirrox looks reasonably good. The developers used a fast template, selected a decent color scheme, and included enough images to make it visually appealing. However, all of this is overshadowed by poor-quality content.
Let’s break it down:
- On the homepage, there’s a table titled “Mirrox Trading Instruments.” It appears to be intended as a comprehensive list but displays only two assets.
- The Education Center links redirect you to a notice stating that the resources are locked and require registration for access. Strangely, even after registering, the center remains inaccessible unless accessed through the dashboard. Once inside, the materials provided are questionable. For instance, why does Mirrox offer guides for MetaTrader (desktop and mobile versions) when the platform uses a completely different terminal?
- The distinction between “Education” and “Trading Education” under the Trading Tools menu is puzzling. Initially, we wondered if Mirrox offered general educational courses. However, one link leads to the Education Center mentioned earlier, while the other directs to a basic CFD trading overview. The navigation system lacks coherence, to say the least.
- It’s worth noting that Trading Central tools are designed for seamless integration with MetaTrader 4 or 5, not other platforms. Mirrox, however, only uses these tools for a basic intraday technical analysis widget, which is far from optimal.
Similar inconsistencies can be found on nearly every page of the Mirrox website. The only area that functions as expected is the login/registration form. Even here, though, the overly detailed client questionnaire raises eyebrows, especially since the MISA regulator doesn’t distinguish between retail and professional investors. And one might wonder how a company can claim to follow AML policies while allowing cryptocurrency deposits.
Given this context, the broker’s actions become clearer. Holding a MISA license doesn’t mean a company isn’t a scam, and Mirrox demonstrates this perfectly.
Our Trading Experience With Mirrox
The trading platform used by Mirrox seems decent at first glance. However, it’s not proprietary software. In fact, we’ve seen the same platform used by other scam brokers like Ventorus.
The software has one notable feature: traders can choose between a basic price chart widget or an interface powered by TradingView. Unfortunately, the first option is subpar in every aspect. For instance, it offers only 22 indicators. The TradingView-powered version is somewhat better but still has several shortcomings:
- No multi-chart mode. Traders must constantly switch assets and wait for charts to load, which can lead to losses in fast-moving markets.
- Market overview organization. The tool organizes instruments logically with tabs, but quickly selecting specific tickers is impractical, causing inefficiencies.
- No one-click trading. This essential feature is absent.
- No script integration. Traders can’t use custom indicators or bots, as the platform lacks support for TradingView’s scripting language.
Ultimately, while the trading platform looks polished, its functionality falls short. Why didn’t Mirrox opt for MetaTrader 4 or 5, especially when their Education Center includes guides for both? It could be that MetaQuotes refused to sell licenses to a company with a dubious reputation. Alternatively, Mirrox may have opted for a platform that allows them to manipulate price feeds, a tactic often employed by scams. This reduces any realistic chance of profitability for traders while maximizing the broker’s ability to drain funds.
This suspicion is reinforced by the broker’s trading conditions. The details are scattered across the website, making it challenging for potential clients to get a full picture:
- Leverage: up to 1:400 (forex only).
- Margin Call & Stop Out: 100% and 20%, respectively.
- Assets: 160+ listed.
- Negative balance protection: claimed.
These indicators are the same for all five account types. According to the table, the only difference between the tariffs is in the minimum spread size: from 2.5 pips on the Classic account to 0.9 pips on the VIP account.
Additional information is published in the Trading Info section on the CFD List and Swap Fees pages. The first page contains the standard contract size for each asset, the minimum and maximum position volumes, and the maximum leverage for a specific asset. The second page provides information on the fees for position rollover (swap). It is assumed that traders would appreciate the publication of such information. We would also like to commend the company for this transparency, but there are several issues:
- The maximum leverage of 1:400 is available for Forex trading. With it, the risks for clients become unacceptable. The same applies to other asset groups — leverage is significantly lower here, but the liquidity and volatility are incomparable to the currency market.
- Spreads look appealing only in the table. In reality, in the terminal (on a Classic account for the EUR/USD pair), the spread is 4.1 pips.
- Swaps are negative regardless of the position type (Long or Short).
In short, such unfavorable conditions that Mirrox offers cannot be found with real regulated brokers. But scam platforms use them very widely. It’s up to you to decide whether it’s worth trading without a chance to make a profit.
The Reality Check
The broker claims to have official registration and operates under a license. This information requires verification.
The official website states that the platform is owned by Capital Crest Ltd, registered in the Comoros Union, Mwali (Moheli). It also provides information about a license issued by the local financial regulator, Mwali International Services Authority (MISA), including the license number. This information is confirmed by the regulator.
It is worth noting that the license issuance date is April 1, 2024. Once again, we emphasize that licensing documents from MISA are equated by many experts to inclusion in the registry of the Saint Vincent and the Grenadines regulator (SVGFSA), which only records such services registered in the country but does not license or regulate their activities.
In fact, MISA does not impose any serious restrictions on the activities of Forex/CFD brokers, does not regulate their relations with clients, does not set disclosure requirements, etc. The primary benefit of such a document is for the regulator itself (as it requires an annual payment, albeit a modest amount of around $15,000). The other beneficiary is the broker, who can claim to operate under a license without having to meet strict requirements. The interests of traders are neither taken into account nor protected.
Of course, we cannot claim that Mirrox operates entirely illegally. However, we can confidently state that in many countries, including European nations, Canada, Japan, the UAE, etc., the firm’s services cannot be considered legal. Local regulators strictly regulate the conditions of brokerage services. Naturally, the company does not meet these requirements. Clients from these countries open accounts and trade on this platform at their own risk; their interests and rights are not protected. Moreover, the broker can refuse service to them at any time (such a clause is included in the client agreement). Whether it will be possible to withdraw invested funds in such a situation is a big question.
How Long Has Mirrox Been in the Game?
We have already addressed the question of the broker’s reputation and the level of trust in it. We even have an idea of the platform’s lifespan, as the license issuance date is known. To further clarify the company’s age, we can use the Whois service, specifically the information about the registration of the working domain mirrox.com.
It appears that the broker uses a domain registered back in 2005. However, its rich history is not of interest to us. According to snapshots from the Web Archive service, the official website of the firm appeared on mirrox.com only in August 2024 (possibly slightly earlier, but no activity was noted). Incidentally, the creation dates of social media accounts also vary significantly. For example, the X (Twitter) account was created in May 2024, while the YouTube channel appeared only on July 23.
Notably, these accounts were created for the company Mirrox Ltd, as was the LinkedIn profile. What Mirrox Ltd has in common with Capital Crest Ltd and how one has transformed into the other is known only to the broker’s owners. For us, this is just another reason to approach the company with distrust.
Extra Fraud Indicators
It is difficult to call this broker popular. For instance, the account on X has not attracted anyone since its creation (0 followers). The YouTube channel, which, by the way, contains only 11 videos, gained just 20 subscribers in 4 months. Even more surprising is the number of Mirrox reviews on the internet. On Trustpilot, there are currently 53 comments, with the platform’s average rating being 4.5.
We would like to believe this, but glowing posts without mentioning any specific advantages or unique features of the company seem fabricated to us. Especially since they appear periodically in large batches. For example, on November 23-24, seven comments were published, three on the 19th, and eight on November 15-16. It paints a picture of users from different countries waiting for a specific moment to share their opinion about the firm. Funny? We think so too, which is why we consider all the reviews to be fake.
But that’s not all. How about a website called mirroxisregulated.com? Surely, you don’t think it was created by the company itself or on its order? In addition, there are several commissioned videos on YouTube, in which the company is praised to the skies. In short, scammers will go to any lengths to create a positive reputation for themselves. However, all these attempts only discredit them further.
On the other hand, most thematic websites label Mirrox with a scam alert. For instance, WikiFX rated the broker at 1.1 out of 10. Other portals are just as categorical. The opinions of their experts are worth at least considering.
Is Mirrox the Right Fit?
Let’s summarize the materials presented in this Mirrox review. The company operates under a license issued by the MISA regulator, where it is registered in the Comoros Union. However, a similar authorization document is held by dozens of scam brokers using similar methods to attract clients. The trading conditions published on the official website are extremely unfavorable, and the risks to clients with 1:400 leverage are unacceptable. Additionally, the firm artificially creates a reputation for itself by commissioning reviews and publications online. From our perspective, this company cannot be trusted, and we recommend refraining from funding accounts opened here.
Mirrox is a scam! They just took my $2,000!! They blocked access to my account and won’t let me withdraw anything. They answer calls only sporadically, constantly transferring me to different specialists, and I have to explain the situation every time. No one can explain why my account is blocked. I don’t recommend even talking to these scammers!