Myfx Markets is a Forex company founded in 2013. The maximum leverage is 500 times and the spread is narrow overall for the currency pair. Therefore, it is a very compatible Forex company for traders who mainly fight scalping. Since you have a financial license, you can trade with confidence. From 2018, we also started handling virtual currency FX, and it is a company that can be recommended for virtual currency traders. Of course, it is also recommended for Forex traders.
Company information
MyfxMarkets is an overseas Forex brand operated by Axis Inc. The FX trading service will be available in 2013.
| Operating company name | Axis Inc |
| Headquarters location | 103 S Church Street. Harbou Place, 4th floor, Cayman Islands |
| license | Saint Vincent and the Grenadines Financial Services Agency (SVG FSA) |
| Business start date | 2013 |
| Capital | Unpublished |
| number of employees | Unpublished |
license
A financial license is issued by the financial authorities of the country and is a permit for conducting a financial business. Without this, you cannot carry out business activities. The countries with strict examination standards in the world are said to be the United Kingdom and Cyprus. The UK Financial Conduct Authority (FCA) has very strict not only license acquisition but also maintenance standards, such as having to compensate up to £ 85,000 per person in the event of a Forex trader’s bankruptcy. The Cyprus Securities and Exchange Commission (CySec) is said to be the second highest screening country after the United Kingdom. So is Myfx Markets licensed?
| Company Name | Acquisition license |
| Axis Inc | Saint Vincent and the Grenadines Financial Services Agency (SVG FSA) |
Email support
Myfx Markets supports the following:
| Inquiry method | Contents |
| You will receive a reply within 24 hours on weekdays. You will receive a reply in about a day. | |
| Live chat | Use chat if you want an immediate response. Available 24 hours a day on weekdays. |
| phone | Use the phone if you want an immediate response. Available 24 hours a day on weekdays. |
Supported language
They support 3 languages. Below is a list of supported languages.
- English
- Chinese
- Japanese
Loss compensation
Myfx Markets has a warranty system.
| Guarantee system | Contents |
| Zero cut | They will not charge any loss in excess of the margin to protect the trader’s funds. There is no risk of having a debt. |
Withdrawal method
Myfx Markets supports the following withdrawals.
| Withdrawal method | Withdrawal fee | Reflection time |
| Bank withdrawal | 2000yen | 1-3 business days |
| USDT | Free | 1-3 business days |
| bitwallet | Free | 1-3 business days |
Payment method
Myfx Markets supports the following deposits.
| Payment method | Deposit fee | Reflection time |
| Bank remittance | Free | 1-3 business days |
| Cryptocurrency | Free | Immediately |
| bitwallet | Free | Immediately |
Account type
Myfx Markets supports the following account types.
| item | Standard account | Professional account |
| Transaction form | NDD STP | NDD ECN |
| Brands handled | Foreign exchange Precious metals energy Stock index Cryptocurrency | Foreign exchange Precious metals energy Stock index Cryptocurrency |
| Maximum leverage | 500 | 500 |
| Transaction fees | Free | $3.5 |
| Spread | 1.2~1.5pips | 0.0~0.1pips |
| Minimum trading volume | 0.01 | 0.01 |
| Maximum trading volume | 100 | 100 |
| Stop level | 0.0pips | 0.0pips |
| Scalping | Possbile | Possbile |
| Automatic trading | Possbile | Possbile |
| Double-decker | Possbile | Possbile |
| Stop-loss | 20% | 20% |
| Trading tools | MT4 | MT4 cTrader |
Currency pair
Myfx Markets supports a large number of currency pairs. Spreads are also listed. Only major currency pairs are listed.
| Currency pair | Standard account | Professional account |
| USD/JPY | 1.12pips | 1.21pips |
| AUD/JPY | 1.69pips | 1.60pips |
| EUR/JPY | 1.67pips | 1.28pips |
| GBP/JPY | 2.28pips | 2.08pips |
| EUR/USD | 1.24pips | 1.13pips |
| GBP/USD | 1.73pips | 1.55pips |
| AUD/USD | 1.32pips | 1.12pips |
| USD/CAD | 1.73pips | 1.53pips |
| EUR/GBP | 1.61pips | 1.32pips |
Whether or not withdrawal is refused
It will be the most worrisome place for traders who actually trade. There is no Forex company that refuses to deposit, but I am wondering if I can really withdraw when I can make a profit. What about MyfxMarkets, as some companies run away at worst? The patterns of withdrawal refusals from past cases are summarized below. Double-decker, scalping, and automated trading are permitted.
| Case study | Contents |
| Bonus withdrawal | Bonuses cannot be withdrawn. |
| Withdrawal while holding a position | You cannot withdraw while you have a position. |
| Trades that overload the system | Making many transactions in a short time using the system violates the trading rules. The account may be frozen. |
Other Forex companies, virtual currency exchanges
If you are looking for other Forex companies or cryptocurrency exchanges, please see the list below in the link below.
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