Milliva

Milliva is a forex and CFD broker established in November 2021 and incorporated in the United Kingdom with company number 13546193. Its registered trading address is 20-22 Wenlock Road, London, N1 7GU, England. Despite its UK incorporation, Milliva is not regulated by any major financial authority such as the FCA or equivalent. The broker operates under a corporate structure that includes additional registrations in Saint Vincent and the Grenadines and Mauritius, as claimed on its website, though these are not oversight bodies that enforce client protection standards.

The broker describes itself as a significant provider of online currency trading, CFD trading, and associated services. Its tradable instruments include forex pairs, metals, indices, and cryptocurrencies. Milliva's trading platform is MetaTrader 5 (MT5), a widely used platform known for its advanced charting and analytical tools. The broker claims to offer competitive spreads starting from 0.5 pips and leverage up to 1:500, depending on the account type.

Milliva offers five distinct account types tailored to different trader profiles: MICRO, STANDARD, ECN, ELITE, and PREMIUM. The MICRO account requires a minimum deposit of $10 and offers leverage up to 1:500, making it accessible for beginners or those wishing to start with a small capital. The STANDARD account, with a minimum deposit of $100, also provides leverage up to 1:500. The ECN and ELITE accounts both require a minimum deposit of $500 and offer maximum leverage of 1:500.

The PREMIUM account is designed for high-volume traders, with a minimum deposit of $5,000 and a lower maximum leverage of 1:200. All accounts provide access to the MT5 platform and the same range of instruments. The broker promotes a zero-fee policy for deposits and withdrawals, and offers a $50 login bonus for new accounts. However, aggregated industry data and user feedback indicate difficulties in withdrawing funds, which raises concerns about the broker's reliability.

The most significant risk factor for Milliva is its lack of regulation by any recognized financial authority. While the broker is registered as a limited company in the UK, this does not grant it authorization to offer financial services under the Financial Conduct Authority's oversight. Similarly, its additional registrations in Saint Vincent and the Grenadines and Mauritius do not provide meaningful investor protection. Unregulated brokers are not required to adhere to client fund segregation rules, compensation scheme membership, or transparent dispute resolution processes.

FXCanary has assigned Milliva a Scam Risk Score of 75 out of 100, categorized as 'Severe'. This score reflects the combination of regulatory absence and negative user reports regarding withdrawal difficulties. Traders should exercise extreme caution when considering this broker, and understand that they have no recourse to a regulatory ombudsman in case of disputes. The high leverage offered (up to 1:500) further amplifies both profit potential and risk of substantial losses.

Milliva exclusively offers the MetaTrader 5 (MT5) platform, which is accessible via desktop, web, and mobile devices. MT5 is renowned for its advanced charting capabilities, multiple timeframes, and support for automated trading through Expert Advisors (EAs). The platform provides traders with a wide range of technical indicators and analytical tools. However, the broker does not mention offering any proprietary trading platforms or additional tools such as social trading, copy trading, or educational resources on its website.

The broker claims that its platform is intuitive and user-friendly, catering to both beginners and experienced traders. It also emphasizes security features, stating that client data and funds are protected by encryption and secure servers. Customer support is advertised as available 24/7, though the actual responsiveness and effectiveness remain unverified by independent sources.

Milliva states that it offers a variety of payment options for deposits and withdrawals, though specific methods are not detailed on its website. The broker promotes a zero-fee policy for bank or credit card charges, implying that clients will not incur additional costs for transactions. The minimum deposit is $10 for the MICRO account, and $100 for the STANDARD account. Higher-tier accounts require larger initial deposits. The broker also advertises a $50 login bonus for new accounts, which may be subject to trading volume requirements.

However, multiple user reports and aggregated industry data highlight significant difficulties in withdrawing funds from Milliva. This includes delays, non-responsiveness, and rejections of withdrawal requests. Such patterns are common among unregulated brokers with high risk scores. Traders are strongly advised to test the withdrawal process with a small amount before committing significant funds.

Milliva appears to target a broad audience, from novice traders to experienced investors, by offering multiple account tiers with varying minimum deposits and leverage. The MICRO account is specifically designed for those with limited capital, while the PREMIUM account caters to high-net-worth individuals seeking lower leverage. The broker also promotes an Introducing Broker (IB) program, suggesting it seeks to attract affiliates and professional partners.

Given the lack of regulation and high risk score, Milliva is not suitable for risk-averse traders or those who require regulatory protection. Traders in jurisdictions with strict financial oversight (such as the EU, UK, or Australia) may find that this broker does not comply with local regulations. The high leverage and severe scam risk indicate that only those willing to accept the possibility of total loss should consider this broker, and even then, with extreme caution.