Please, stay away from this broker. I could go on a full detailed explanation, but this article will pretty much include all the necessary information: https://www.forexbrokerz.com/brokers/malfex-review
It falsely claims to be regulated in the U.S., Italy, Malta, the EU, and Switzerland. All information regarding this matter can be found on the link I attached.
Please stay away and do not open any accounts with this broker.