MYFX Markets Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-06-13 18:31

Abstract：MYFX Markets is an unregulated broker, offering trading on forex, index CFDs, commodities, and cryptos with leverage up to 1:1000 and spread from 0.0 pip on MT4/MT5 trading platform. The minimum deposit requirement is $0.

MYFX MarketsReview Summary
Founded	2011
Registered Country/Region	New Zealand
Regulation	No regulation
Market Instruments	forex, index CFDs, commodities, cryptos
Demo Account	✅
Leverage	Up to 1:1000
Spread	0.0 pip
Trading Platform	MT4/MT5
Minimum Deposit	$0
Promotions	✅
Customer Support	Contact form, 24/5 customer support
	Tel: +64 9 889 4022
	Email: customer.service@myfxmarkets.com
	Address: Suite 802, 6 Glen Street, Milsons Point NSW 2061, Australia
	Address: U801 and U802, 6 Glen street, Milsons Point, NSW 2061, Australia
	Address: 252 Great North Road, Grey Lynn, Auckland 1021, New Zealand
Regional Restrictions	Janpan

MYFX Markets Information

　　MYFX Markets is an unregulated broker, offering trading on forex, index CFDs, commodities, and cryptos with leverage up to 1:1000 and spread from 0.0 pip on MT4/MT5 trading platform. The minimum deposit requirement is $0.

Pros and Cons

Pros	Cons
With demo account	No regulation
MT4/MT5 platform	Regional restrictions
Low minimum deposit of $0
Promotions offered

Is MYFX Markets Legit?

　　No. MYFX Markets currently have no valid regulations. Please be aware of the risk!

What Can I Trade on MYFX Markets?

　　MYFX Markets offers trading on forex, index CFDs, commodities, and cryptos.

Tradable Instruments	Supported
Forex	✔
Index CFDs	✔
Commodities	✔
Cryptos	✔
ETFs	❌
Options	❌
Bonds	❌
Equities	❌

Account Type

　　MYFX Markets offers Standard account, Pro account and Micro account. Besides, it also offers demo accounts.

Account Type	Minimum Deposit	Maximum Leverage	Currency
Standard	$0	1:1000	USD,JPY,AUD,GBP,EUR
Pro	$0	1:500	USD,JPY,AUD,GBP,EUR
Micro	$30	1:500	USD

Leverage

　　MYFX Markets offers maximum leverage at 1:1000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital.

MYFX Markets Fees

Account Type	Commission	Spreads
Standard	$0	From 1.0 pips
Pro	$7 per lot	From 0.0 pips
Micro	$0	From 1.0 pips

　　Swap Rates

　　Swap rates at MYFX Markets refer to the interest paid or received for holding positions overnight, varying based on the financial instrument and market conditions, and playing a crucial role in your trading strategy.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Desktop, mobile, web	Beginners
MT5	✔	Desktop, mobile, web	Experienced trader

Deposit and Withdrawal

　　The broker does not provide specific information on payment options, deposit and withdrawal details.

Promotions

　　There are a plenty of promoting activities available on MYFX Markets' platform. For now, the Summer Cash Frenzy campaign is on, which claims to offer a cashback reward of up to $3,000.