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Broker Reviews

Myfx Markets

Tradomatix TrustScore™:

3.81

(47 Reviews)
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5-star

63.83%

4-star

8.51%

3-star

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2-star

0.00%

1-star

27.66%
Replied to 51.16% of reviews
Typically replies within 754.16 hours

About Myfx Markets

Myfx Markets provides access to forex, commodities, metals, indices, and cryptocurrencies through CFD trading on MetaTrader 4 and MetaTrader 5. The broker offers both Standard and Pro (Raw/ECN) account types with variable spreads and execution suited for retail and algorithmic traders. Its trading platforms are available on desktop, mobile, and web, allowing traders to manage positions and automate strategies efficiently.

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Regulation & Security

The broker is licensed by the Offshore Finance Authority of the Union of Comoros under License L15835/MYFX and registered with the Seychelles Financial Services Authority under License SD202. These offshore jurisdictions provide operational flexibility but may not offer the same investor protections as Tier-1 regulators.

Account and Setup

The broker supports Standard and Pro accounts on both MT4 and MT5. Standard accounts operate with wider spreads and no commissions, while Pro accounts feature tighter spreads and commissions per lot. Account setup involves registration, identity verification, and selection of base currencies such as USD, AUD, or JPY. Minimum deposits vary depending on account type.

Funding Options

Funding methods include bank wire transfers, credit/debit cards, and cryptocurrencies like Bitcoin and USDT. Deposits can be made through the client portal, with near-instant processing for cards and crypto, and 1-5 business days for bank transfers. Withdrawals must return to an account in the clientÕs name, and some payment methods may involve small service fees.

Bot & API Compatibility

Myfx Markets supports full algorithmic trading through Expert Advisors (EAs) on MT4 and MT5. It also accommodates MAM/PAMM systems and third-party plugins, enabling flexible automation and account management for professional and retail traders.

Trading Conditions& Restrictions

Trading conditions include leverage up to 1:1000 for smaller accounts, reducing as balances increase. The broker permits hedging, scalping, and automated trading strategies. Spreads on ECN accounts start from approximately 0.4 pips, with commissions around US $3.50 per lot. Execution is market-based, and traders are advised to review specific terms and dispute processes applicable under its offshore regulation.

Regulation & Security

The broker is licensed by the Offshore Finance Authority of the Union of Comoros under License L15835/MYFX and registered with the Seychelles Financial Services Authority under License SD202. These offshore jurisdictions provide operational flexibility but may not offer the same investor protections as Tier-1 regulators.

Account and Setup

The broker supports Standard and Pro accounts on both MT4 and MT5. Standard accounts operate with wider spreads and no commissions, while Pro accounts feature tighter spreads and commissions per lot. Account setup involves registration, identity verification, and selection of base currencies such as USD, AUD, or JPY. Minimum deposits vary depending on account type.

Funding Options

Funding methods include bank wire transfers, credit/debit cards, and cryptocurrencies like Bitcoin and USDT. Deposits can be made through the client portal, with near-instant processing for cards and crypto, and 1-5 business days for bank transfers. Withdrawals must return to an account in the clientÕs name, and some payment methods may involve small service fees.

Bot & API Compatibility

Myfx Markets supports full algorithmic trading through Expert Advisors (EAs) on MT4 and MT5. It also accommodates MAM/PAMM systems and third-party plugins, enabling flexible automation and account management for professional and retail traders.

Trading Conditions& Restrictions

Trading conditions include leverage up to 1:1000 for smaller accounts, reducing as balances increase. The broker permits hedging, scalping, and automated trading strategies. Spreads on ECN accounts start from approximately 0.4 pips, with commissions around US $3.50 per lot. Execution is market-based, and traders are advised to review specific terms and dispute processes applicable under its offshore regulation.

Myfx Markets Reviews

( 47 )

Myfx Markets Reviews

( 47 )
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Corporate solutions

Fund House Suite

Price ranging from
USD 100,000/mo

Corporate Suite

Price ranging from
USD 30,000/mo

Family Office Suite

Price ranging from
USD 10,000/mo

Retail solutions

Diamond

Price ranging from
USD 4,997/mo

Titanium

Price ranging from
USD 2997/mo

Platinum

Price ranging from
USD 497/mo