May 16, 2016

Review & Opinion on MyFX Markets(Myfx Markets Pty Ltd)

Here we will review the service of MyFX Markets.

Please note that the review written in this page is not for advertising objective nor officially authorized by any entities, but it is intended to help traders get to know about this broker better.

Who is MyFX Markets?

MxFX Markets official website photo

MyFX Markets is an online Forex & CFD Broker founded in 2013.

The Broker used to be regulated by ASIC, and then IFSC in New Zealand. After the expiration of its financial license in NZ, the Broker has changed the company base to Republic of Mauritius.

The Broker’s Official Office probably be still located in Australia, but it is now not regulated by any recognized Financial Authorities.

The Broker is not so active in terms of promoting its brand though, the Broker is still active online.


Trading Environment?

The trading conditions of MyFXMarkets is quite excellent.

The broker does not restrict any trading methods as they offer “ECN Style” Trading Environment.

The number of financial instruments are over 40 including Forex Currency Pairs, Precious Metals and CFDs.

Spread is variable and from 0.6 pips(all trading commissions included), which is tighter than many other “ECN Style” brokers’.

Leverage is up to 1:400, which is around the average.

You can choose your account base currency from USD, GBP, EUR, AUD, NZD, SGD, JPY or CHF.

MyFX Markets is a preferable choice for many traders.


Bonus & Promotions?

There is no bonus promotion offered by MyFX Markets.


Customer Service?

There is surprisingly no promotions or news provided from MyFX Markets.

No announce of holiday schedules, nor change of licenses either.

Also the client support is provided 24 hours a day according to the official website, but sometimes there is no response via livechat or phone calls.

Over the years of its activity as a Broker, there is not much negative reviews against MyFX Markets despite of the number of traders registered with them.


Complains from traders?

There are many traders all over the world trading with MyFX Markets, but there is no complains against the broker besides the customer service quality.

As there is no restrictions on its trading platform, there is no reported complains regarding trading results or deposit/withdrawals.

Anything to be careful?

MyFX Markets offers “ECN Style” trading environment, and there is no trading restrictions. So you do not need to worry about possible profit cancellations or price manipulations.

Only thing you should be aware of is that, MyFX Markets is not regulated by any major financial authorities but only registered its company in Republic of Mauritius.

So if you should be involved in a trouble with this broker, there will be technically no one to contact to resolve your issue.

Despite of this financial license situation, MyFX Markets has good reputations on its trading environment and smooth operations without problems.


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