What is Myfx Markets?
Myfx Markets is a forex and CFD broker based in Australia, listed with a foundation year of 2016. It offers leverage up to 400:1, spreads from 0.0 pips and a minimum deposit of $500. Clients trade on MetaTrader4 and on mobile.
Is Myfx Markets safe and regulated?
Myfx Markets is regulated by No. This is an offshore regulator. It sets capital and reporting rules, but its investor protection is lighter than tier-1 regulators such as the FCA (UK), CySEC (Cyprus) or ASIC (Australia), and there is usually no investor compensation scheme.
Safety checklist before you deposit
- Find the licence number on the broker's website and check it on the regulator's official register.
- Check that client funds are held in segregated bank accounts.
- Make a small first deposit and test a withdrawal before you add more.
- Confirm negative balance protection applies to your account type.
Myfx Markets account types
The broker offers several account options so beginners and experienced traders can choose the right fit. Accounts open from a $500 minimum deposit.
| Account | Best for | Available |
|---|---|---|
| Mini account | Beginners trading small lot sizes | Yes |
| VIP account | High-volume traders wanting raw spreads | Yes |
| Islamic (swap-free) | Traders who need no overnight interest | Yes |
| Managed account | Investors who prefer a money manager | No |
Trading platform and conditions
Myfx Markets provides MetaTrader4, so you can trade from any browser without installing software. Mobile trading is supported as well.
- Scalping and hedging are permitted, which suits short-term and EA-style strategies.
- News trading is allowed during high-impact economic releases.
- Spreads from 0.0 pips are available on raw pricing, with a commission per lot.
- Leverage up to 400:1 gives large position sizes from a small deposit, which also raises the risk of fast losses.
Deposits and withdrawals
Myfx Markets supports 4 funding methods, including Credit/Debit Cards, Wire transfer, Skrill, Neteller. Accounts can be held in 1 base currency (USD/EUR & More), which helps you avoid conversion fees.
Myfx Markets bonus: Yes
How the promotion works
The current Myfx Markets promotion is Yes. Entry rules, dates and eligible countries are set by the broker. Read the full terms on the Myfx Markets website before you trade for it.
Check the promotionLooking for free trading credit instead? Compare the latest forex no deposit bonus offers and forex deposit bonuses.
Myfx Markets pros and cons
Pros
- Raw spreads from 0.0 pips
- Scalping and hedging allowed
- News trading allowed
- Islamic, VIP and Mini accounts
Cons
- Only offshore regulation
- No investor compensation scheme
- $500 minimum deposit is higher than some rivals
How to open a Myfx Markets account
- RegisterVisit the Myfx Markets website and sign up with your name, email and phone number.
- Verify your identityUpload a passport or national ID and a recent proof of address (KYC).
- Choose an accountPick Islamic, VIP, Mini or a standard account, and your base currency.
- Fund the accountDeposit at least $500 with Credit/Debit Cards, Wire transfer, Skrill or another method.
- Start tradingLog in to MetaTrader4 or the mobile app and set your risk per trade.
Is Myfx Markets a good broker? Our verdict
Myfx Markets suits active traders who want raw spreads, freedom to scalp or trade the news. The main trade-off is regulation: an offshore licence gives less protection than a tier-1 regulator. Start small, test a withdrawal, and only trade money you can afford to lose.