MYFX Markets Review 2024 & Cashback
MYFX Markets Overall rating
Ranked 222 out of 1100 (Forex Brokers)
Overall rating is derived from an aggregate of ratings in multiple categories.
| Rating | Weight | |
| User Rating |
4.0 (2 reviews)
 |
3 |
| Popularity |
2.4
|
3 |
| Regulation |
0.0
|
2 |
| Pricing rating |
3.0
|
1 |
| Features |
Not rated
|
1 |
| Customer Support |
Not rated
|
1 |
MYFX Markets Profile
| Company Name | MYFX MARKETS LLC |
| Categories | Forex Brokers, Forex Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2013 |
| Headquarters | Saint Vincent and the Grenadines |
| Office Locations | Australia, New Zealand |
| Account Currency | AUD, JPY, USD |
| Support Languages | Chinese, English, Japanese |
| Funding Methods | Bank Wire, Bitcoin, BPAY, Credit Card |
| Financial Instruments | Forex, Oil/Energies, Cryptocurrencies |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
MYFX Markets Web traffic
| Websites |
myfxmarkets.com
|
| Organic monthly visits | 38,258 (100%) |
| Organic traffic rank | 239 out of 1100 (Forex Brokers) |
| Paid monthly visits | 0 (0%) |
| Total monthly visits | 38,258 |
| Bounce rate | 24% |
| Pages per visit | 4.77 |
| Average visit duration | 00:04:18.5590000 |
MYFX Markets Account types
| Standard | Pro | |
| Commission | - | AUD$7.00 Per Lot |
| Maximum leverage | 500:1 | |
| Mobile Platform | MT4 Mobile | |
| Trading Platform | MT4 | |
| Spread Type | Variable Spread | |
| Minimum Deposit | 200 | 1000 |
| Minimum Trade Size | 0.01 | |
| Trailing Stops | | |
| Scalping Allowed | | |
| Hedging Allowed | | |
| Islamic Accounts | | |
| Standard | |
| Maximum leverage | 500:1 |
| Typical Spread | 0.6-1.8 |
| Trading platform | MT4 |
| Mobile platform | MT4 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 200 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Pro | |
| Commission | AUD$7.00 Per Lot |
| Maximum leverage | 500:1 |
| Typical Spread | 0.1- 1.0 |
| Trading platform | MT4 |
| Mobile platform | MT4 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 1000 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
MYFX Markets User Rating
MYFX Markets reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
Please make sure your comments are relevant and that they do not promote anything. Irrelevant comments, including inappropriate or promotional links, and comments containing abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind, will be deleted.
MYFX Markets Cashback rebates
Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
| Standard | Pro | |
| Forex | 0.30 Pips | AUD$1.50 Per Lot |
| Other | No Rebates Paid | |
| Payment Options |
Monthly Cash Back - Real Time Reports
| |
| Standard | |
| Forex | 0.30 Pips |
| Other | No Rebates Paid |
| Payment Options |
Monthly Cash Back - Real Time Reports
|
| Pro | |
| Forex | AUD$1.50 Per Lot |
| Other | No Rebates Paid |
| Payment Options |
Monthly Cash Back - Real Time Reports
|
What are MYFX Markets rebates?
MYFX Markets rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do MYFX Markets rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much MYFX Markets rebates can I earn?
Use our forex rebate calculator to estimate your MYFX Markets rebate earnings:
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Are MYFX Markets rebates a scam; do my spreads increase?
MYFX Markets rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are there any other benefits to signing up for MYFX Markets rebates?
It depends on the rebate provider. Due to our unique relationship with many brokers, we have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond to us, since we typically have many clients with them. Our knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. We also offer trading tools, calculators, reviews and a robust forex education section.
How are forex rebates paid?
Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:
Forex rebate options vary per broker:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
MYFX Markets Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
|
MYFX Markets LLC
Saint Vincent and the Grenadines |
|
|
|
|
|
500 : 1 |
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