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As an independent forex trader with several years of experience, I’m always highly focused on understanding the cost structure of any broker I consider. For Mahfaza, based on my due diligence, the standard account type—named the Mahfaza Account—offers spreads on the EUR/USD pair typically starting from 1.5 pips. I want to highlight that this figure is relevant to the specific account tier, as Mahfaza also advertises lower starting spreads for their Trader and Pro accounts. Personally, I consider spread size to be a major factor in long-term trading costs, especially for major pairs like EUR/USD where industry averages can be significantly lower at well-established, regulated brokers. The absence of stated commissions is a positive, but my evaluation is always cautious: the lack of regulation at Mahfaza introduces a separate level of risk that I cannot ignore, regardless of how straightforward their pricing appears. Ultimately, while the 1.5 pip starting spread on their standard account is transparent and easy to compare, the unregulated status of the broker and missing details on other trading conditions would make me personally very hesitant to commit real capital, even if the spreads are competitive on paper. For me, spread is only one aspect—I always weigh such figures alongside trust and security considerations before making a trading decision.