Comparison of MyFXMarkets’ trading account types and platforms

MYFX Markets and cryptocurrency trading

MYFX Markets is an extremely popular broker in the new continent of Australia. Strictly regulated and with high security standards, the broker offers a well-structured trading environment rich in state-of-the-art tools and features, designed with the sole purpose of enabling clients to trade at the highest levels.

Lightning-fast execution.

Guaranteed by the use of technologically advanced hardware and servers located in the NY4 and TY3 data centers in New York and Tokyo.

Maximum security.

The broker has high levels of security and absolute transparency. Customer funds are held in accounts separate from the company’s funds, and as a regulated broker, it is required to comply with regulations imposed by law.

Excellent customer support.

A team composed of experts in the field is available at all times to improve the customer’s trading experience 24 hours a day.

Automated trading.

The broker uses third-party Expert Advisors (EA) and MT4/MT5 plugins to allow its clients to use automated trading software.

Advantageous crypto trading.

The broker offers its clients to trade on one of the hottest markets of the moment with advantageous conditions and excellent risk management. Traders can invest in 5 of the most popular cryptos in the world: Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum.

Every trader their own account.

The list of accounts offered by the broker has been created to meet the needs of any type of trader. Experts in the field, beginners, and high-volume traders will find the right option to trade to the best of their abilities.

Popular and efficient platforms.

MYFX Markets allows clients to interact in the markets using two of the world’s most powerful and famous software for online trading: MT4 and MT5. Available on any device, both fixed and mobile, to trade anytime and anywhere.

Visit the official website of Myfx Markets

Crypto Trading

Investing in crypto is considered extremely attractive by millions of traders given its extraordinary characteristics: extremely volatile, not subject to any governmental control, and with prices that vary only based on the market.

Diversify the portfolio.

Not being subject to any governmental control, the prices of cryptos do not vary based on any political or economic changes of countries and are conditioned exclusively by market fluctuations. This makes cryptocurrencies an excellent alternative for diversifying the portfolio and protecting against risks arising from socio-political and economic instabilities of countries around the world.

Protection against inflation.

Although millions of cryptocurrencies are traded every day, it is still a very rare type of asset with a limited supply. This makes trading in cryptocurrencies very similar to trading in gold or diamonds, offering a sort of insurance in case of market downturns.

Trading conditions of MYFX Markets

Aware of the countless requests from its traders, the broker allows trading on Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum with trading conditions that only a few have the opportunity to offer. A maximum leverage of 1:5, a minimum trade size of 0.01, and advantageous contract sizes will allow the client to take full advantage of any trading experience.

Invest in cryptocurrencies with Myfx Markets

Available Accounts

The accounts offered by the broker have been carefully designed to meet the needs of any category of traders and offer excellent tools and features for trading in crypto. Both beginners and professionals will be able to find an account compatible with their style and trade to the best of their ability. In case the trader wants to test the offered environment without risking funds, they can opt for opening a demo account and trade with virtual funds. The available accounts are:

• Standard MT4 Account
• Pro MT4 Account.
• Standard MT5 Account.
• Pro MT5 Account.
• PAMM Account.

Open a real account with Myfx Markets

Standard MT4 – MT5 Account

A type of account created to meet the requests of most traders. In fact, the Standard account has characteristics and trading conditions compatible with any category of traders and offers beginners and professionals an optimal environment to invest in a wide range of instruments, through the creation of accurate investment strategies. An excellent alternative for a first approach to crypto markets, the account allows beginners to trade at low risk and without any commission.

Regardless of the platform chosen to trade, trading characteristics and conditions do not vary. The main difference between the two accounts derives from the technology used by the selected platform (MT4 or MT5).

Open a Standard account with Myfx Markets

Pro MT4 – MT5 Account

Account created for more demanding traders who require certain trading conditions and tools suitable for creating sophisticated trading strategies. Reduced spreads to a minimum and low commissions will allow the client to manage any investment in the best way and take full advantage of it. The Pro account allows traders who usually invest in crypto to have excellent risk management and to diversify their portfolio optimally.

Open a PRO MT4 – MT5 account with Myfx Markets

MYFX PAMM Account

Not all traders have the skills or simply the time necessary to fully dedicate themselves to trading. The PAMM account offered by the broker is the right option to solve these types of problems. In practice, the PAMM account allows the trader to fully rely on a professional in the field who will manage the client’s accounts and funds. The Manager (professional) will conduct analysis, research, studies, negotiations, and much more, and the trader will just have to wait for the results. The client will have to pay a commission (which varies based on the professional selected) only if the operation carried out has generated profits.

The interested trader can open a PAMM account in a few minutes and choose the professional to entrust their funds by viewing the list. By clicking on the Manager, the client will be able to know the risk propensity, preferred instruments, investments made, and strategies carried out.

PAMM accounts are ideal both for beginner traders wishing to expand their knowledge and experience, and for clients who simply do not have the necessary time to manage their investments optimally.

Below, advantages and characteristics of PAMM accounts:

• Included the use of Expert Advisor (EA) for automatic trading.
• Minimum trade sizes starting from 0.01 lots (1000 units of currency).
• Any type of standard order allowed such as market, stop, and limit.
• Unique order types included: trailing stop, close by, and close all.
• Possibility to have full control over the professional’s work, monitoring commissions, and performance in real time.

Open a PAMM account with Myfx Markets

How to open an account with MYFX Markets

Every trader can open an account and start investing with extreme ease. The interested trader can register, choose the most suitable account for their style, verify it, and make a deposit to invest in a few minutes. It’s important to remember that trading conditions and services offered may vary based on the trader’s country of residence. For more information, contact the support team.

To open an account, just perform the following simple steps:

1st Step

To begin, the trader must visit the official website and click on the “Open an account” icon visible in the top right of the page. In the new screen, fill in the first form by entering: first name, last name, valid email, and country of origin. Click on “Confirm”. The broker will send a validation email, the trader must open it and click on the link to open the account.

2nd Step

A new page will automatically open where the trader will have to choose the type of account (individual or corporate) and enter: city, address, postal code, phone number, trading experience, valid password. Click on “next”.

3rd Step

In this phase, the trader will have to set up questions and answers for the security of their account (for example, your mother’s maiden name, the name of your dog, etc.). A high level of security ensures full operability to the client.

4th Step

Now the client will have to select the most suitable account, currency, and max leverage to use. Click on “take me to the client’s office”.

5th Step

To successfully complete the registration, the new client will have to go through a verification process to prove their real identity and country of origin. To do this, they will have to send front and back color photos of an identification document (driver’s license, ID card, passport) and a recent utility bill (water or gas) or alternatively a certificate issued by the municipality of residence. If found suitable, the client will be able to make a deposit and start investing.

It’s important to remember that the files to be sent must be in PDF, JPG, PNG, BMP, or GIF format, and each of them must not exceed 5 MB in size. In case the trader is temporarily without the necessary documents for verification, they can send them later to the email address customer.service@myfxmarkets.com.

For any other information, regarding contract specifics or registration, it is possible to visit the official website and contact the support team.

Open a real account with Myfx Markets

Myfx Markets Platforms

Having the necessary tools to make the most of every investment opportunity is essential in a highly volatile market like crypto. Reacting quickly to sudden price changes, protecting against losses with excellent risk management, and the ability to create effective strategies through advanced tools are just some of the features that most traders need to invest to the best of their abilities. Being fully aware of the needs of its clients (which vary based on the level of experience, capital to invest, risk propensity, etc.), the broker allows interacting in the markets through the use of two of the most advanced and popular platforms in the world: MT4 and MT5.

Both launched by MetaTrader, were created with the sole objective of improving the trading of any trader, regardless of their level of experience. Cutting-edge technologies, ease of use, total customization, and rapid execution will guarantee every client to perform their operations to the fullest of their abilities and take maximum advantage of any investment.

MT4

There is no trader in the world who does not know this platform for online trading. The most popular and used software, MT4 offers an extremely intuitive interface suitable for any category of traders and includes state-of-the-art tools that will allow for developing strategies, having excellent risk control, and a broad view of the markets. Experts and beginners can interact in the markets with extreme ease through functions such as “one-click trading” and state-of-the-art charts that allow viewing prices in real-time. One of the most appreciated features of the platform is its customization, which allows adapting parameters and functions to make the software totally compatible with the trader’s modus operandi.

• Possibility to view prices in real-time and react quickly to make the most profit.
• Viewing the history of orders placed that allows the client to receive useful information to avoid mistakes and predict possible price fluctuations.
• Modify any operation at any time to adapt it to one’s investment preferences.
• Full control over orders and monitor them in real-time.
• Possibility to enter operations and pending orders.
• Automatic trading available that allows the client to use trading robots. The client can use free EAs, create new ones according to their needs, and buy them in the dedicated store.
• The trader can create and modify a checklist according to their needs, this allows for better management of their operations.
• Spread calculator included. An excellent tool to evaluate how advantageous it is to invest in the selected instrument.

Among the main features of the platform, we find:

The platform is available in various versions and is compatible with any device:

• Fixed devices (desktop): Windows – MAC.
• Mobile devices: IOS and Android.
• Web version that does not require any download.

Invest in the MT4 platform with Myfx Markets

MT5

An optimized version of the less recent MT4, the multi-asset MT5 platform was created to allow traders a more professional approach to trading. Although it was mainly designed for expert traders, MT5 has a structure that is easy to use and suitable for traders of any category. In addition to including the features available with MT4, the platform offers updates, functions, and highly advanced tools for high-performance trading:

• High-speed reaction and order execution. A fundamental characteristic for trading in highly volatile markets such as crypto.
• Advanced functions for excellent market monitoring.
• A wide range of integrated technical indicators and analytical tools for creating accurate trading strategies.
• Improved EA backtesting.
• More available times.
• Integrated economic calendar.

Among the main features of the software, we can notice:

Each client can use the software version that best suits their needs. The software is compatible with any fixed or mobile device and is also available in a Web Version.

• Desktop: Windows – MAC.
• Mobile Devices: IOS and Android.
• Web Trader: that allows the trader to use the platform without having to download any software on their device.

Invest in the MT5 platform with Myfx Markets

Posted by Maria Sanchez

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Maria is an expert of financial markets, bringing all the information from English to Spanish for a better understanding of the online traders. She is also a day trader with experience in developing trading strategies that generate profit while minimizing risk and working under high pressured environment. While being a portfolio manager by herself, she focuses on marketing and consultancy of financial and Insurance products.