Frequently Asked Questions

MYFX Markets is the trading name of AXIS INC. AXIS INC is incorporated under registered number 24078IBC2017 by the Registrar of International Business Companies.

MYFX Markets offers multi-channel funding including Bank Transfer, Credit Card and cryptocurrencies.

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.

Standard Account: $200
Pro Account: $1000

Currently MYFX Markets supports the following currencies for MT4 Accounts: USD, AUD, and JPY

Our clients’ funds are deposited in our segregated trust account.

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.

From October 1st, 2016, MYFX Markets will cover all credit card fee (a saving of 0.9% – 3.89%). There is no fee for credit card withdrawal and 25 USD/AUD per transaction for bank transfer withdrawal.

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.

Yes, MYFX Markets provides a replica of the live trading environment, including access to real-time spreads and execution speeds. You can learn to use our trading platforms in a risk-free environment.

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’ MT4 demo accounts usually expire in 90 days, however the expiry date will be extended for another 90 days every time you login.

MYFX Markets offers more than 55 pairs.

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.

Maximum leverage for an MT4 trading account with MYFX Markets is 1:400. You can submit a request to change your leverage in Client Office.

Make sure all the trades in your MT4 account are closed and simply email the 
Customer Services team and they will process your request.

Let our Client Services team know via email what changes need to be made to your account by emailing customer.service@test.myfxmarkets.com. If they require any further information they will contact you.

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.

We offer cryptocurrency leverage of up to 5 times.

We offer the top 5 cryptocurrency pairs for you to trade on MyFXMarkets including Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ethereum

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.