MetaTrader 5
MetaTrader 5 (MT5) is a next-generation multi-asset platform for trading Forex, stocks, and futures, with advanced analytics, faster execution, and powerful algorithmic trading tools.
Runs on
- Windows
- Mac
- Web
- Android
- iOS
Details
Is Mahfaza a scam?
Wikilix independent safety report
65%Scam risk
High risk (unverified)Confidence: MEDIUM
2.5/5Safety rating 2.5 out of 5
No. Mahfaza (National Portfolio Securities Company) is a genuine, long-established Jordanian brokerage, not a scam. It is a public shareholding company listed on the Amman Stock Exchange (ticker MHFZ…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation3/10 · LowIdentity & transparency2/10 · LowWithdrawals & conduct2/10 · LowReputation2/10 · LowWebsite claims2/10 · LowOperational history1/10 · Low
Editorial review
Broker Summary
What Wikilix has recorded about Mahfaza: its history, the licences it holds, its trading conditions and its fees.
The MAHFAZA Broker Review
Established in 2022, MAHFAZA is a Forex and CFD brokerage located in Amman, Jordan. The broker is geared toward the retail trader demographic within the MENA (Middle East and North Africa) region. They promote themselves as offering competitive spreads, as well as being a MetaTrader 5 (MT5) trading platform but do not have regulatory approval to conduct business with the general public, presenting a very high-risk environment for traders.
Background Information
Founded in 2022, Location: Amman, Jordan, Target Market: Retail traders in the MidEast. Type of Trading Platform: MT5 only. Information about the Management: There is no public information available regarding the management team.
Main Features
|Features|Details|
|--------|-------|
|Trading Platform|MT5 (Desktop and Mobile)|
|Instruments Available|Forex (Major, Minor, Exotic), Cross Currencies, Indices, Commodities|
|Spreads|From 0.5 pips, Variable|
|Account Types|Standard MT5 account types (not publicly available)|
MAHFAZA promotes "Low Spreads" and has "Advanced Tools for Traders" on their MT5 Trading Platform.
Regulatory Status
MAHFAZA has no regulatory body that oversees its operation.
|Regulator|License Number|Status|
|---------|--------------|-----|
|Jordan Securities Commission (JSC)|—|Unregulated|
|CySEC|—|Unregulated|
|FCA|—|Unregulated|
|ASIC|—|Unregulated|
Traders who use unregulated brokers run the risk of having their funds mismanaged, and they will have no recourse for resolving disputes.
Trading Conditions
|Trading Conditions|Details|
|-----------------|------|
|Spreads|Variable starting at 0.5 pips|
|Leverage|Not disclosed, but is believed to be on the high side (possibly as much as 1:500)|
|Minimum Deposit|Not defined; likely to be between $10 and $100|
|Commissions|Not stated; may be included in spreads|
Trading Platform Technology
|Features Available on the Trading Platform|Availability|
|-----------------------------------------|------------|
|Advanced Charting|Yes (MT5)|
|Technical Indicators|Yes (MT5)|
|Automated Trading (EAs)|Yes (MT5)|
|Depth of Market (DOM)|Yes (MT5)|
|Economic Calendar|Integrated|
|Mobile Application|iOS and Android|
Fees
The low level of transparency regarding fees could result in traders receiving unexpected charges.
User Experience
Few online reviews are available about MAHFAZA. Most reviews are neutral or negative. Additionally, watchdog sites indicate that MAHFAZA is an unreliable broker.
Pros:
Low spreads; MT5 platform
Recent Updates
There have been no major updates for 2024 or 2025. There has been minimal growth, no new products added, and little forward movement regarding the regulatory compliance of MAHFAZA.
Conclusion:
While MAHFAZA offers access to the MT5 Trading Platform and low spreads, the lack of regulation and transparency means there is no safeguard for the retail trader. Traders seeking flexible trading with few barriers may find MAHFAZA appealing, while conservative traders will find it unappealing.
Recommendation: Conduct thorough research before considering investing with MAHFAZA.
Website archive
Website snapshots
7 full-page captures of Mahfaza's own site, archived so what they said can still be read after the pages change.
7 pages
Regulation check
Regulatory Licenses
We have not confirmed any regulation for Mahfaza. Money deposited with an unregulated broker is protected only by the company itself.
No regulation
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for Mahfaza. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Deposits & withdrawals
Funding Methods
5 ways to fund an account. One with no deposit fee. 2 credit instantly. The costliest way in is Wire Transfer at USD 50.
5 methods
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
| Electronic Funds Transfer (EFT)Bank TransferUsually free or low fee; common and low cost method. | Free | Free | USD 100 | Not recordedNot recorded | Up to 1 day |
Wire TransferWire TransferFees charged per transaction; limits vary by broker and regulatory constraints. | USD 50 | USD 50 | Not recorded | Not recordedNot recorded | Up to 1 day |
| Credit/Debit CardCredit CardMay have higher fees and limited withdrawal support. | 3% | Not recorded | USD 50 | Not recordedNot recorded | Instant |
Cheque WithdrawalOtherLess common withdrawal method; fees charged per cheque withdrawal. | Not recorded | USD 50 | Not recorded | Not recordedNot recorded | Up to 3 days |
| E-wallets (e.g., PayPal)E-WalletRegional availability varies; fees vary by provider. | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Instant |
Trading software
Trading Platforms
One trading platform on record: MetaTrader 5.
1 platform
Websites
Global Domains
3 domains on record. All active and served over HTTPS.
3 domains
Company registry check
Company Registration
The operating company is National Portfolio Securities Company (public shareholding company). Registered in Jordan.
Verified on registry
- Legal entity
- National Portfolio Securities Company (public shareholding company)
- Jurisdiction
- Jordan
- Incorporated
- Jan 1, 1982
- Registry
- Amman Stock Exchange / Jordan Securities Commission (ISIN JO3101811011, ticker MHFZ)
- Registered address
- 33 Issam Ajlouni Street, Mahfaza Building, Shemisani, Amman, Jordan
Peer comparison
Brokers worth comparing
2 other brokers on the record share what Mahfaza offers — its country, regulator, account types or platforms — set beside it on the same measures.
2 peers
Mahfaza
This recordJordan · since 1982· National Portfolio Securities CompanyWikilix score 42.0RegulationNo RegulationMax leverageNot recordedPlatforms1LicencesNot recordedAdmiral Markets
Jordan · since 2022· Admirals SC LtdWikilix score 51.0RegulationOffshoreASICMax leverage1:1000Platforms2Licences5SPECTRA GLOBAL
Mauritius · since 2023· Spectra Global LTDWikilix score 42.0RegulationExceededSCAMax leverage1:500Platforms1Licences1
Frequently Asked Questions
Frequently Asked Questions
Common questions about Mahfaza
Most Popular Questions
Yes, Mahfaza offers customer support including live chat available during business hours and email support at mahfaza@mahfaza.com.jo. Support is provided in English, and additional contact options include phone and social media channels.
The minimum deposit amount for Mahfaza accounts is 10,000 USD. Some deposit methods, such as Electronic Funds Transfer and Credit/Debit Cards, have their own minimum deposit limits which can be lower, for example, 50 USD for credit/debit cards.
Mahfaza supports several deposit methods including Electronic Funds Transfer, Wire Transfer, Credit/Debit Cards, and E-wallets. Fees vary by method, for example, wire transfers have a fixed fee of $50 per transaction, while credit/debit card deposits typically incur a 3% fee.
Mahfaza provides access to the MetaTrader 5 platform, which is available on web, iOS, Mac, Android, and Windows devices. MetaTrader 5 supports trading Forex, stocks, and futures with advanced analytics and algorithmic trading tools.
Mahfaza, operated by National Portfolio Securities Company in Jordan, does not have any listed regulatory licenses according to the provided data. Users should consider this lack of regulation when assessing safety and risk before trading with Mahfaza.
Comments
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