Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
MYFX Markets Pros & Cons
- No deposit or withdrawal fees.
- Client funds are held in trust accounts with tier-1 banks.
- Tight spreads from 0 pips on the Pro account.
- Partnership program with rewards for referral trading.
- MAM accounts are available for passive investment.
- No cent account for trading with reduced risks.
- The broker is not licensed, it is only registered in offshore jurisdictions.
- Deposit and withdrawal methods are not diverse.
MYFX Markets has been working in financial markets since 2014. It offers trading currency pairs, cryptocurrencies, CFDs on indices, metals, and oil with flexible leverage and no hidden fees. The broker is registered with AOFA and FSA Seychelles.
TU Expert Verdict
MYFX Markets carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
MYFX Markets User Reviews
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5-star
33%
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4-star
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3-star
67%
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2-star
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1-star
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria6 /10The trading and non-trading commissions of MYFX Markets have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of MYFX Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, MYFX Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
MYFX Markets Standard spreads MYFX Markets OANDA FOREX.com EUR/USD min, pips 1.3 0.1 0.7 EUR/USD max, pips 1.8 0.5 1.2 GPB/USD min, pips 1.5 0.1 0.9 GPB/USD max, pips 2.0 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
MYFX Markets RAW/ECN spreads MYFX Markets OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3.5 3.5 5 EUR/USD avg spread 0.4 0.15 0.2 GBP/USD avg spread 0.8 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with MYFX Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
MYFX Markets Non-Trading Fees MYFX Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 25 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is MYFX Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria3.9 /10MYFX Markets has a safety score of 3.9/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Not tier-1 regulated
MYFX Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
FSA (Seychelles) Full Name Financial Services Authority of Seychelles Country of regulation Seychelles Investor Protection Fund No specific fund Regulation Level Tier-3 Abbreviation AOFA Full Name Anjouan Offshore Finance Authority Country of regulation Union of the Comoros (Autonomous Island of Anjouan) Investor Protection Fund No publicly disclosed statutory investor compensation scheme on the site; complaints are handled via the AOFA Compliance Department (email provided). Regulation Level Tier-3 MYFX Markets Security Factors Foundation date - Negative balance protection NoVerification (KYC) No -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.5 /10MYFX Markets offers the following account options: Demo, Standard, ECN/Raw spread, Managed.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Standard account with balanced trading conditions
- Demo account
- Low minimum deposit
- No Cent account
- No Swap Free account
MYFX Markets account types vs top competitors MYFX Markets Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged YesNoNoMYFX Markets accounts trading conditions
MYFX Markets has two account types that can be opened on any of the platforms available with the broker. Leverage is set when opening the account. It can be changed in the user account subject to the traded asset.
Account types:
Account Type Description Standard The minimum deposit is $200, spreads start at 0.6 pips, and there are no additional fees. Pro This account type is aimed at professional traders. The minimum deposit is $1,000, spreads start at 0 pips, and trading fees are $7 per lot. A demo account can be opened on MT4 and MT5.
MYFX Markets provides profitable trading conditions with minimum spreads and flexible leverage.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5.8 /10MYFX Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
MYFX Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Minimum deposit below industry average
- Bank wire transfers available
- Bitcoin (BTC) accepted
- No withdrawal fee
- BTC not available as a base account currency
- PayPal not supported
- Only major base currencies available
What are MYFX Markets deposit and withdrawal options?
MYFX Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, BTC, USDT, Ethereum.
MYFX Markets Deposit and Withdrawal Methods vs Competitors MYFX Markets Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are MYFX Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. MYFX Markets supports the following base account currencies: USD, JPY, AUD.
What are MYFX Markets's minimum deposit and withdrawal amounts?
The minimum deposit on MYFX Markets is $200, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact MYFX Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria4.3 /10MYFX Markets offers a limited selection of trading assets compared to the market average. The platform supports 100 assets in total, including 60 Forex pairs.
- Indices trading
- Crypto trading
- 60 supported currency pairs
- Bonds not available
- Copy trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by MYFX Markets with its competitors, making it easier for you to find the perfect fit.
MYFX Markets Plus500 Trading.com Currency pairs 60 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 100 2800 69 Stocks NoYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products MYFX Markets offers for beginner traders and investors who prefer not to engage in active trading.
MYFX Markets Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading NoNoNoPAMM investing YesNoNoManaged accounts YesNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at MYFX Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with MYFX Markets in 7 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at MYFX Markets is $200. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Quick KYC verification (1 business day or less)
- Fully online account opening process
- Account setup process may feel less convenient for beginners
MYFX Markets account opening MYFX Markets Plus500 Trading.com Online Registration YesYesYesMinimum deposit $200 $100 $50 Mandatory KYC NoYesYesRegistration time (min) 7 20 KYC time (days) 1 3 2 Is MYFX Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading with MYFX Markets, register a user account on its website and open a trading account. The registration procedure is as follows:
Click the “Open Account” button on the broker’s website.
Fill in the registration form and provide your first and last names, email, your country of residence, confirm that you are not a robot, and click the “Register” button.
In MYFX Markets’ user account traders can:
- Choose payment methods and make deposits..
- Pass their user account verification by uploading the required documents..
Additional features of MYFX Markets’ user account that allow traders to:
- Open demo and live accounts and change leverage;
- View the history of all financial transactions for a required period;
- View the website news and working hours of financial markets;
- Switch to WebTrader and download installation files of MT4 and MT5 for different mobile devices and PCs.
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Customer Support
Score:We evaluated Customer Support at MYFX Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5 /10Customer support at MYFX Markets is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. MYFX Markets provides basic support functionality but does not stand out in overall service performance.
InformationTechnical support is available 24/7.
- Live chat is available for prompt communication with support
- Both clients of the broker and unregistered users can contact support in the live chat
- No call back option
- When contacting support via a feedback form, the response may come within 24 hours or more
The broker offers the following communication channels:
- Phone;
- Email;
- Live chat;
- Feedback form.
Live chat and a feedback form are available in the user account for more prompt communication with technical support.
Contacts Registration address MYFX Markets, First Floor, First St., Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines Regulation AOFA, FSA Seychelles Licence number:
L15835/MYFXOfficial site https://myfxmarkets.com/ Contacts customer.service@myfxmarkets.com +64 9 889 4022
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FAQs
How are MYFX Markets trading commissions, spreads, and non-trading fees structured?
MYFX Markets is assessed as having medium overall fees, with low Forex trading fees, tight EUR/USD spreads, and no inactivity, deposit, or percentage-based withdrawal fees. On Standard accounts, trading costs are built into floating spreads (for example, EUR/USD typically ranges from 1.3 to 1.8 pips), while RAW/ECN accounts use lower spreads plus a commission of $3.5 per lot and a fixed $25 withdrawal fee.
What account types and trading conditions does MYFX Markets provide for different trading styles?
MYFX Markets offers Demo, Standard, ECN/Raw spread, and Managed accounts, but does not provide Cent or Micro accounts and does not support swap-free or VIP options. The Standard account has a $200 minimum deposit with spreads from 0.6 pips and no extra fees, while the Pro account targets more experienced traders with a $1,000 minimum deposit, spreads from 0 pips, and a $7 per-lot trading fee.
What do MYFX Markets user reviews and feedback say about overall client satisfaction?
The user satisfaction score for MYFX Markets is 7.3/10, based on three reviews, with 33% of ratings at 5 stars and 67% at 3 stars. According to user reviews, this distribution indicates a mixed overall impression rather than strongly positive or strongly negative sentiment.
What markets and tradable assets are available at MYFX Markets according to recent reviews?
MYFX Markets supports 100 tradable assets, including 60 currency pairs, along with crypto, commodity futures, and stock indices, but does not offer stocks or options. For more passive or investment-style approaches, the broker provides PAMM investing and managed accounts, while copy trading, bonds, and ETFs are not available.
How do reviews describe the MYFX Markets trading account opening process?
The account opening process at MYFX Markets is described as quick and accessible, with online registration taking about 7 minutes and KYC verification typically completed within 1 business day, and a minimum deposit of $200. While the procedure is characterized as one of the more hassle-free onboarding experiences in the market, the review notes that the account setup steps may feel less convenient for beginners.
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