mishovforex.com
Online · checked Sep 10, 2026
Also on our record
High risk
40 out of 100 · 74% checked
High risk: no licence is in force, and the published scam check reads high risk, unverified.
We checked Mishov Forex on 2026-10-15 across regulation, corporate record, client terms, trading offer and service, covering 74% of the record. No licence was recorded at all. The weighted pillars summed to 40 and no gate capped it. What would change it: policy risk, critical clauses, withdrawal rails. The published scam check reached the verdict "high risk, unverified" and established 9.5 years of track record. No policy review had been published, so the client terms were not scored. Trading EURUSD cost about 0 pips all-in, spread and commission together.
Score last calculated 2026/10/15
Wikilix independent safety report
Mishov Forex is an unregulated offshore broker and we rate it high risk. It holds no financial licence from any regulator, and the Saint Lucia company registration it relies on does not appear on the…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
What Wikilix has recorded about Mishov Forex: its history, the licences it holds, its trading conditions and its fees.
Mishov Forex is a retail forex brand operated by Mishov Markets Ltd, a company registered in Saint Lucia under number 2023-00616 at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet. The brand presents itself as an international business founded in 2016 with its headquarters in Istanbul and further offices in London, Kabul, Ankara, Denizli, Tbilisi and Dubai. Trading is offered on MetaTrader 5 only, across roughly 45 instruments covering currency pairs, gold, silver, crude and brent oil and a small set of stock indices.
Mishov Forex names no financial regulator and publishes no licence number anywhere on its website. Its regulation, security and risk pages describe email and SMS verification, SSL and a content delivery network, but make no claim to authorisation by any financial authority. There is therefore no confirmed regulation and no claimed regulation to assess, which is an unusual position for a broker accepting client deposits.
No. Mishov Markets Ltd holds no financial services licence that the company itself asserts or that this research identified. The only official record behind the business is a company registration in Saint Lucia, and a company registration permits a company to exist without authorising it to take client money, hold client funds or deal in foreign exchange.
The operating entity is Mishov Markets Ltd, and its existence is confirmed. An authoritative entity record validated against the Saint Lucia Registry of Companies and Intellectual Property shows the company as active under registration number 2023-00616, with an entity creation date of 4 December 2023 and the Gros-Islet address the site publishes. That date matters: the brand's About page claims the business was established in 2016, so the company now taking deposits is materially younger than the history the site presents. The record also reports the ownership as natural persons under a reporting exception, so no owner is named on it and none is named on the site.
Mishov Forex carries the risks that come with an unregulated operator, and a prospective client should treat it on that basis. There is no regulator to complain to, no compensation scheme, and no statement anywhere on the site that client money is held separately from company money. The site also markets a cash desk: US dollars can be deposited and withdrawn in person in Tehran, Istanbul, Dubai, Tbilisi, Herat and Kabul at 2 percent. Handling client funds as physical cash across those locations leaves a client with little documentary trail if a balance is later disputed.
Mishov Forex publishes no account tiers. Its application form offers only a choice between a real and a demo account, and no minimum deposit, leverage cap, spread table or commission schedule is published for either.
The site advertises spreads from 0.0 pips and describes its execution as STP with no dealing desk, but publishes no spread table and no trading commission schedule, so the advertised figure cannot be checked against a stated instrument or account. The costs it does state are funding costs: US dollar wire withdrawals carry 1.5 percent plus SWIFT fees, US dollar cash carries 2 percent in each direction, and Turkish lira and Iranian rial transfers carry no commission.
MetaTrader 5 is the only platform offered, on the MishovMarkets-Live and MishovMarkets-Demo servers. The site links desktop, macOS, Android, iOS and web builds.
Funding runs mainly through wire transfer and a physical cash desk. Turkish lira transfers are stated to work only in Turkey and Iranian rial transfers only in Iran, both free of commission and processed within 24 hours. US dollar wires are free to deposit and cost 1.5 percent plus SWIFT fees to withdraw. Visa, Mastercard, Webmoney, Perfect Money, Neteller and Skrill are listed as payment systems with no fee, timing or limit published against any of them. No minimum or maximum amounts are published for any channel.
Support is reachable by email at support@mishovforex.com and by telephone, with separate numbers listed for Istanbul, Denizli, London, Dubai, Kabul and Tbilisi. There is no live chat. The site is published in English and Persian, and its application form asks for the applicant's name in Persian, which indicates who the service is built for.
Mishov Forex is a real, identifiable business rather than an anonymous front, and that counts for something. What it lacks is the thing that protects a client's money: no financial authority licenses Mishov Markets Ltd, no compensation scheme stands behind a balance, and the terms make no commitment to segregate client funds. Anyone considering an account should weigh that against the commercial terms, which are themselves largely unpublished, and should treat the cash funding route as the point where a deposit becomes hardest to trace.
We have not confirmed any regulation for Mishov Forex. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
We have not confirmed any regulation for Mishov Forex. 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
Where Mishov Forex says it will and won't take clients
Confirmed blocked
Named in the broker's own terms
Covered by a parent block
Territories a blocked country carries with it
10 ways to fund an account. 3 with no deposit fee. The costliest way in is USD Cash at 2%.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Wire Transfer (USD)Wire TransferUSD withdrawals to any bank worldwide carry 1.5 percent plus SWIFT fees. No minimum or maximum amounts are published. | Free | 1.5% | Not recorded | Not recordedNot recorded | Up to 24 hours |
Wire Transfer (TRY)Bank TransferStated as applicable only in Turkey, which sits awkwardly beside the site's statement that it does not serve citizens of Turkiye. | Free | Free | Not recorded | Not recordedNot recorded | Up to 24 hours |
Wire Transfer (IRR)Bank TransferStated as applicable only in Iran. There is no direct IRR to TRY exchange; the site routes it via USD. | Free | Free | Not recorded | Not recordedNot recorded | Up to 24 hours |
USD CashOtherPhysical cash handled over the counter in Tehran, Istanbul, Dubai, Tbilisi, Herat and Kabul at 2 percent. | 2% | 2% | Not recorded | Not recordedNot recorded | Up to 24 hours |
| VisaCredit Card1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
| MastercardCredit Card1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
| WebmoneyE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
| NetellerE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
| SkrillE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
| Perfect MoneyE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
One trading platform on record: MetaTrader 5.
MetaTrader 5 is the only platform Mishov Forex offers, served from the MishovMarkets-Live and MishovMarkets-Demo servers, with desktop, mobile and web builds linked from the site.
2 domains on record. All active and served over HTTPS.
One legal entity behind the Mishov Forex brand.
Mishov Forex names Mishov Markets Ltd as the operating company. We could not confirm that registration on the registry.
2 other brokers on the record share what Mishov Forex offers — its country, regulator, account types or platforms — set beside it on the same measures.
Common questions about Mishov Forex
Your options are limited to the company itself. Because no financial regulator licenses Mishov Markets Ltd, there is no ombudsman, no complaints authority and no compensation scheme to escalate to, and a dispute would be a civil matter against a Saint Lucia company. Keep written records of every deposit, and be aware that cash handed over in person is the hardest kind of payment to evidence later.
By email at support@mishovforex.com or info@mishovforex.com, or by telephone. The contact page lists separate numbers for Istanbul, Denizli, London, Dubai, Kabul and Tbilisi, with +90 542 491 0491 given as the emergency number. There is no live chat and no published support hours.
The site says no. Its standing disclaimer states that it does not offer services to citizens of Turkiye. That said, its deposit page prices Turkish lira transfers as applicable in Turkey and its contact page lists two Turkish offices with local numbers, so its stated policy and its published operations do not match.
Mishov Forex publishes no list of accepted countries and its application form has no country selector, so there is no positive list to report. It does state on every page that it does not offer services to citizens of Turkiye, the UAE or the USA, although it simultaneously lists offices, telephone numbers and cash desks in Istanbul and Dubai.
The site makes no such commitment. Its security page describes account verification, SSL and a content delivery network but says nothing about holding client money separately from company money, and no other page addresses it. Without a regulator requiring segregation, there is nothing establishing that client funds are ring fenced.
The site states 24 hours for every wire and cash channel it prices. It publishes no processing time at all for the card and e-wallet options, and no minimum or maximum withdrawal amounts for any channel.
Mainly by wire transfer or in physical cash. US dollar wires are free to deposit and cost 1.5 percent plus SWIFT fees to withdraw, while Turkish lira and Iranian rial transfers are commission free but are stated to work only in Turkey and Iran respectively. US dollars can also be handed over or collected in person in Tehran, Istanbul, Dubai, Tbilisi, Herat and Kabul at 2 percent. Visa, Mastercard, Webmoney, Perfect Money, Neteller and Skrill are listed with no fees or limits published.
Around 45 instruments. These are mostly currency pairs, alongside gold and silver, crude and brent oil, and a small set of stock indices including the Nasdaq, S&P 500, DAX 30 and Dow Jones 30. No individual shares or cryptocurrencies are listed.
MetaTrader 5 only, on the MishovMarkets-Live and MishovMarkets-Demo servers. The site links Windows, macOS, Android, iOS and web builds. No MetaTrader 4, cTrader or proprietary platform is offered.
The site advertises spreads from 0.0 pips and says it charges no dealing desk markup, but it publishes no spread table and no commission schedule, so the advertised figure cannot be tied to any instrument or account. The costs that are actually stated are funding costs: 1.5 percent plus SWIFT fees on US dollar wire withdrawals and 2 percent on US dollar cash in either direction.
Mishov Forex publishes no maximum leverage anywhere on its website. Because no leverage figure is stated on the broker's own pages, we do not quote one.
Mishov Forex does not publish a minimum deposit. Neither its account opening page nor any other page on the site states an entry figure, so the amount required to fund an account is unknown before you apply.
The brand's About page claims the business was established in 2016, but the company that operates it today, Mishov Markets Ltd, was created on 4 December 2023 according to its official entity record. The two dates do not agree, and only the 2023 date is confirmed against an authoritative record.
We found no confirmed evidence of fraud, but we also found nothing that would make it safe to treat as a regulated broker. The company is real and its registration is confirmed, yet it operates without any financial licence, so a client has no regulator to appeal to and no compensation scheme behind a balance. Treat it as unverified and high risk rather than either proven safe or proven fraudulent.
Mishov Forex is operated by Mishov Markets Ltd, a Saint Lucia company registered under number 2023-00616 at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet. No individual owner or director is named on the website, and the entity's official record reports its ownership as natural persons under a reporting exception, so no person is identified there either.
No. Mishov Forex names no financial regulator and publishes no licence number on any page of its website, and no licence was identified for its operating company. The only official record behind the business is a company registration in Saint Lucia, which lets the company exist but does not authorise it to take client deposits or deal in foreign exchange.
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