If you are looking for an online forex broker, you should look at MyFX Markets. Their features include MetaTrader 4, Leverage, Research tools, and Rebates. The FAQ section is comprehensive and answers the most common questions. They also run several promotions. One of the most recent was during the Soccer World Cup, where traders competed to trade more lots.
Leverage
The margin requirements are necessary to protect the client’s account from losses. For example, if you buy a million-dollar stock for $10,000, you will need to deposit an additional $10,000 to guarantee your position. This amount will be referred to as your margin. The margin calls can happen suddenly, which means you should be aware of them and know how to monitor them. You may lose your entire investment if you cannot afford the margin call.
To maximize your trading profits, you may want to consider using leverage. This technique involves investing a portion of the account’s value with borrowed funds. This increases the amount of money you can invest, but it also increases the amount of risk. Leverage is usually done in the domestic currency of the account.
MYFX Markets has segregated accounts for its clients. This helps keep your funds safe in the event of company bankruptcy. The company also uses top-tier international banks to hold client funds. However, it does not offer a client deposit compensation scheme and is not regulated by an investor compensation fund. As a result, you will not receive financial compensation if the company goes bankrupt.
Research tools
MYFX Markets is an online broker that offers a variety of trading tools for both novice and experienced traders. The company is based in Saint Vincent and Grenadines, an island nation in the Caribbean Sea. To help its customers, the company provides email, phone, and live chat support. Customers can also fill out a contact form if they have a specific question.
The broker also offers several newsletters. For example, its Trading Central Research Platform combines automated algorithmic pattern recognition with reports from senior analysts. Another company feature is Myfxbook, which enables social trading and copy trading. The Myfxbook platform has an extensive collection of technical analyses. For example, if you’re interested in the latest trends in cryptocurrency trading, you can access a free copy trading account to follow the opinions of the best traders.
The platform offers a variety of indicators to help traders determine the market’s direction. Its tools include a range of commodities and indices, including precious metals and energies. The website lets users see traders’ positions at significant market turning points.
Rebates
MYFX Markets rebates are a way for traders to reduce the cost of transactions. They result in a lower spread, which in turn can increase your win ratio. Rebates on transactions are comparable to credit card rewards programs. For example, you might receive a 1% cashback for making purchases with your Visa credit card. However, this isn’t free money because a vendor fee pays for it.
MYFX Markets follows strict security standards when dealing with client funds. Client money is kept in top-tier international banks. The company’s strict policies and rules govern client money handling. Furthermore, the company does not use any client money for operational purposes. The company is committed to providing its clients with a safe and secure trading environment.
As a bonus for referring new traders, MyFX Markets also offers a $500 credit on new traders’ accounts. Previously, the company offered a $25 bonus to traders who referred new traders to the site. The company also ran promotions similar to these in the past.
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