MYFX Markets will cover all fees usually charged by our acquiring banks and payment processors instead of passing on the cost to you. Additional international bank transfer fees from your bank or payment processors may apply. If you incur a separate non-transactional fee from your bank or payment provider, any such fee will be your responsibility, so please make sure you check with your bank or institution if you’re unsure.
Submit a withdrawal request from Client Office. Funds can only be sent back to an account in the same name as the trading account, e.g. if you have a company account you can’t withdraw funds to an account in the name of an individual.
You receive daily confirmations of your trades on any day there is trading activity. You will also receive a monthly statement on the first day of the new month. Please note that you will only receive a daily trading statement if there was a trade placed/active on the previous day.
If you haven’t already downloaded our MT4, you can download it from here. After downloading and installing the MT4, simply follow the next steps;
1. Click on “File” then select “Open an Account”
2. Select “MYFX-US01-Demo” from Trading Servers then click “Next”
3. Fill out your details and choose your account type. STD means Standard account, PRO means Pro account.
4. tick “I agree to subscribe to your newsletters” check-box, then click “Next”
5. “Registration” will appear with your demo account details
MYFX Markets allows trading of micro lots (0.01 volume and 1,000 base currency) on both of the standard and pro accounts for all FX pairs. For all product specifications please refer to the Product Schedule.
MYFX Markets allows most types of trading, including Expert Advisors (EAs), scalping and hedging. Unlawful trading techniques are not permitted. Please see our Client Agreement for further information about unlawful trading techniques.
Cryptocurrency is decentralised digital cash that is secured by encryption. It operates across a vast network of computers around the world and can be transferred to anyone. There are a number of different cryptocurrencies currently on the market. The original and most well-known one is Bitcoin which was launched in 2008. The other cryptocurrencies are called “altcoins” or alternative coins
Cryptocurrencies are traded on a number of different exchanges around the world. These are not regulated exchanges and they are often registered in offshore locations. CFD assets are traded on the MyFXMarkets platform where liquidity providers provide the CFD to the trader.
Cryptocurrency CFDs do not operate in “Lots” as they do with Forex. When you trade a cryptocurrency CFD you are buying a contract that has a set amount of tokens in it. These will vary according to the coin so we encourage you to take a look at our cryptocurrency asset schedule.
When you are trading on MyFXMarkets, you are trading a CFD product that is a derivative of the cryptocurrency. You have not bought the coins but you have bought the rights to participate in price movements. Hence, you cannot withdraw any coins (unless you have funded in cryptocurrency).
Cryptocurrencies are inherently more risky than traditional Forex. This is because they are a relatively new asset class that reacts more violently to price movements. Hence, when trading cryptocurrencies, your returns / losses are magnified (leverage held equal).
Cryptocurrencies are not fully regulated by any government. There are many exchanges that are unregulated by any government agency and will sell cryptocurrencies. MyFXMarkets, on the other hand, is a fully regulated CFD broker. When you trade CFDs with us, your investment can be considered safer than if you were to rely on an unregulated offshore exchange.
MYFX Markets TRADING ACCOUNTS
Download MT4/MT5 and start trading now! Open in less than 3 mins and your login detail will be sent to you instantly