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Having evaluated Mahfaza as part of my ongoing research into reliable forex brokers, I paid particular attention to the fee structures for their various account types. From what I could confirm, Mahfaza provides three main account types: the Mahfaza Account, Trader Account, and Pro Account. The Pro Account, which typically would align with what many brokers call an ECN or raw spread account, offers spreads on EUR/USD starting from 0.5 pips. Importantly for me, there is no explicit commission per lot disclosed for any of these accounts, including the Pro Account. All three seem to offer commission-free trading, with costs built into the spread itself. In my experience, this is unusual for so-called ECN or raw spread accounts, as many brokers offset their tighter spreads with a separate commission. The absence of a commission here may be attractive from a simplicity standpoint, but it does raise a few cautionary flags for me, especially since Mahfaza operates without valid regulatory oversight. I prefer transparency in both spreads and commissions, and I always consider the regulatory environment as part of my risk management process. In Mahfaza’s case, all-in pricing via spreads without commission is their advertised model, but I would personally seek additional clarification directly from their support before trading any significant volume. This is not just a matter of fees, but also of trust and operational clarity, which are especially important with unregulated brokers.