MYFXMarketsis an overseas forex broker founded in 2014, which began offering services to Japan in 2020
Although it's still not very well-known in Japan, its official website is fully localized in Japanese, and it has a reputation for quick and courteous responses from its Japanese-language support team
Furthermore, it offers an excellent trading environment with a maximum leverage of 1,000x and some of the narrowest spreads in the industry
However, many people will want to check things like withdrawal refusals, which are common problems with overseas forex brokers, and whether it's safe to deposit large amounts of margin before usingMYFXMarkets
Therefore, this time we thoroughly investigatedMYFXMarkets' reputation, customer reviews, security, and cases of withdrawal refusals
What you will learn from this article
- Positive reviews and testimonials for MYFXMarkets
- Negative reviews and comments about MYFXMarkets
- What are the safety and reliability requirements for MYFXMarkets?
- What actions and trades are prohibited on MYFXMarkets?
- Are there any cases of withdrawal refusal at MYFXMarkets?
- Who would I recommend MYFXMarketsto?
- What I learned from actually using MYFXMarkets
- Bonus campaigns currently running at MYFXMarkets
- About MYFXMarketsaccount types
- How to open an account with MYFXMarkets
- MYFXMarketsdeposit and withdrawal methods
Positive reviews and testimonials for MYFXMarkets
Here, we've gathered positive reviews and testimonials aboutMYFXMarkets, primarily from social media
- Positive reviews and testimonials about MYFXMarkets① A wide variety of bonus campaigns are available
- Positive reviews and testimonials for MYFXMarkets② Narrow spreads
- Positive reviews and testimonials for MYFXMarkets③ Low fees
- MYFXMarketsPositive Reviews/Testimonials ④ Fast response time from Japanese support
- MYFXMarkets' positive reviews and testimonials #5: No restrictions on EAs and scalping
- MYFXMarketsPositive Reviews/Testimonials #6: Fast Withdrawals
Positive reviews and testimonials about MYFXMarkets① A wide variety of bonus campaigns are available
[Early Summer Trading Support Campaign Now On!]
— Ryoko Hayasaka (@7vqJGG1ayX25772) June 5, 2025
MYFXMarketsoffers a chance to receive up to approximately $3,125 in cashback
! Participation is super easy!
✅ Minimum deposit of approximately $187.50
✅ Simply trade 1 lot or more in FX or precious metals
, and your cashback will increase according to your trading volume!https://t.co/S45LBbQpnZ#FX pic.twitter.com/JXltxSOiYk
MYFXMarketsfrequently holds a wide variety of bonus campaigns, including deposit bonuses, cashback bonuses, and gift giveaways
While there are limited-time bonus campaigns, new bonus campaigns are frequently held, so there's always some kind of bonus campaign going on
You can find more details MYFXMarketsabout the bonus campaign currently running at here
Positive reviews and testimonials for MYFXMarkets② Narrow spreads
MYFXMarketshas few restrictions, so I'm using it for automated trading with a scalping logic, and so far it's working smoothly. The spreads are also narrow, so I might make it my main platform
— FX Probability Man (@myfxrule) March 4, 2025
MYFXMarketsboasts a minimum spread of 0.0 pips, making it renowned as one of the narrowest spreads among overseas forex brokers in the industry
The spread is a crucial factor that affects all trades, so the narrower it is, the more advantageous your trading will be
Spreads vary depending on the account type, and if you want to trade with the narrowest spreads, the "Pro Account" is recommended
You can find a detailed explanation MYFXMarketsof account types here
Positive reviews and testimonials for MYFXMarkets③ Low fees
I also ran the same EA on TITAN,AXIORY, andMYFXMarketsfor two years, and in terms of fees, swaps, and convertible bonds combined,MYFXMarketswas the best, followed byAXIORYand then TITAN
— Nano (@soralisu) September 3, 2018
MYFXMarkets, trading fees are free for all account types except the Pro account, and even for the Pro account, the feeis set low at 6.65 USD (equivalent) per lot compared to competitors.
In scalping, where the number of trades increases, spreads and transaction fees are important, andMYFXMarkets, with its narrow spreads and low transaction fees, provides a suitable environment for scalping
MYFXMarketsPositive Reviews/Testimonials ④ Fast response time from Japanese support
Tradeview andMyfxmarketshave incredibly fast support responses.
— Hiroo @FX Automated Trading Consultation Office (Seeking EA/MAM agents!) (@toushi_realcom) January 4, 2023
TitanFX is also fast, but they seem inflexible.
Sometimes I worry whether WL Securities will actually reply lol
→ No reply (NEW!)#viptrade #FXsecurities #XM(XMtrading) #BTC #EURUSD #Nikkei
MYFXMarketsaccepts inquiries in Japanese
While some overseas forex brokers may be slow to respond to inquiries or may not respond at all,MYFXMarkets' Japanese supportits fast response times, providing peace of mind in case of problems.
I actually tried contacting support via chat, and I was immediately connected to Japanese support, which resolved my issue
However, I also tried contacting them via email, but received no reply, so if it's urgent, I recommend contacting them via chat or LINE
MYFXMarkets' positive reviews and testimonials #5: No restrictions on EAs and scalping
No restrictions on EAs or scalping!MYFXMarketsHave you heard of " "? What kind of broker is MYFXMarketsWe've written in detail about our recommendations and customer reviews, so please take a look! ♪ #MYFXMarketsMYFXMarkets https://t.co/zVwUCpFbX3 #OverseasFX #FX #NoScalpingRestrictions
— Sakuramochiko│Overseas FX Broker Reviews and Reputation (@FX35051404) July 15, 2020
MYFXMarketsdoes not restrict scalping, soyou can trade using scalping strategies.
Furthermore, there are no restrictions on EAs (Expert Advisors), sopossible to trade using automated trading software.
Using a VPS allows for automated trading 24/7, 365 days a year, making it popular among traders who have limited time for trading
MYFXMarketsPositive Reviews/Testimonials #6: Fast Withdrawals
myfxmarketsdeposited the money right away. That's great!
— Yuuking (@kunnsann) February 18, 2025
While many overseas forex brokers take a long time to process withdrawals, I found many posts stating thatMYFXMarketshas a fast withdrawal process
Delays or refusals of withdrawals can raise concerns about a broker's reliability, butMYFXMarkets, which offers fast withdrawals, can be said to be highly reliable and secure
You can find detailed information MYFXMarketsabout deposit and withdrawal methods at here
Negative reviews and comments about MYFXMarkets
Here, we have gathered negative reviews and comments aboutMYFXMarkets, mainly from social media
- Negative reviews and comments about MYFXMarkets① Leverage restrictions may be imposed
- MYFXMarkets' negative reviews and comments #2: Slow bonus processing
- MYFXMarkets' negative reviews and comments #3: There are times when the market gaps significantly at the start of the week
- MYFXMarkets' Negative Reviews/Comments ④ The bonus cushion feature may be discontinued
- MYFXMarkets' negative reviews and comments #5: There are posts claiming that withdrawals were refused
Negative reviews and comments about MYFXMarkets① Leverage restrictions may be imposed
I saw a notice on the KHS page, butmyfxmarketsI also got an email about leverage restrictions from
— Nakajima (@5uNh3) November 28, 2018
Looks like a lot more people are using it now.
MYFXMarketsbased on your margin balanceleverageis restricted
The leverage limits based on your margin balance are as follows:
| Margin balance | Leverage |
|---|---|
| 1USD (equivalent) to 7,000USD (equivalent) | Up to 1,000x |
| 7001USD (equivalent) ~ 50,000USD (equivalent) | Up to 500x |
| 50,001USD (equivalent) or more | Up to 400x |
If you want to trade with 1000x leverage, adjust your margin before trading
However, please note that the bonus will also be forfeited if you withdraw your winnings
MYFXMarkets' negative reviews and comments #2: Slow bonus processing
The deposit bonus from myfxmarketsis only credited manually, which is way too slow..
— Haya and FX trader (@FX_poker) March 31, 2023
There have been reports of delays in the bonus being credited from MYFXMarkets
Taking deposit bonuses as an example, while competitors often reflect them immediately,MYFXMarketshas an estimated reflection time of 1-2 business days
Since deposit bonuses are often something people want to use immediately, the delay in their reflection is a disadvantage
MYFXMarkets' negative reviews and comments #3: There are times when the market gaps significantly at the start of the week
MyFX is seriously annoying!
— ◆HiRoFX◆In training◆ (@HiRo43619098) November 13, 2023
I placed a good limit order last week, but when I went into this week's trading, it gapped up 200 pips first thing in the morning, and
even though other brokers weren't open, it went past my stop-loss
and I'm about to withdraw my money...
I can't use this place...
Everyone be careful...
MyFX Market #fx #MyFX #PleaseShare pic.twitter.com/nFdBaZYnqm
There was a post mentioning that at the start of trading on Monday, this broker sometimes opened with a larger gap than other overseas forex brokers
Gaps in trading prices are more likely to occur when large orders are placed when most markets are closed on weekends, and can also be caused by statements made by influential figures over the weekend
While trading doesn't always begin with a gap in the market, it's generally safer to close any positions before the trading hours start if possible
MYFXMarkets' Negative Reviews/Comments ④ The bonus cushion feature may be discontinued
I've been asked by several people aboutMyfxmarkets' withdrawal refusals, but I don't have much information about them myself. However, they did abolish the bonus cushioning feature without notice, and I've heard several stories about withdrawal refusals, so it might be best to be careful
— Individual investor Bonbii (@bonbii_FX) September 29, 2021
In simple terms, the bonus cushioning function means that you can use the bonus as margin
For example, if you deposit approximately $312.50 and receive a bonus of approximately $625.00, the margin requirement will be approximately $937.50 if the cushion function is in place, but without the cushion function, the margin requirement will be approximately $312.50 plus the bonus amount of approximately $625.00
Although the results may appear the same at first glance, if a stop-loss is triggered at approximately $312.50, the margin will be approximately $625.00 with the cushion function enabled, but without the cushion function, the margin will become 0, and the bonus amount will also be lost
As such, the presence or absence of cushioning is a very important factor, butMYFXMarketspreviously has discontinued cushioning without prior notice
MYFXMarkets' negative reviews and comments #5: There are posts claiming that withdrawals were refused
[Warning] The overseas forex broker "MyFXMarketsbroker is refusing to respond. " is currently refusing withdrawals totaling over $437,500 to approximately 10 customers. Despite protests against this fraudulent activity, the #MyFXMarketsMyFXMarkets
— AKAGAMI e/acc (@akagamiv2) November 2, 2019
I found several posts from users who reported being denied withdrawals from MYFXMarkets
It's possible your withdrawal was refused because you engaged in a transaction that violated the terms of service, but the exact reason hasn't been disclosed
You can find a detailed explanation of MYFXMarkets' withdrawal refusal cases here
What are the safety and reliability requirements for MYFXMarkets?
| Operating company | AXIS INC |
| Year of establishment | 2014 |
| address | First Floor, First St Vincent Bank Ltd Building James Street, Kingstown ST. VINCENT AND THE GRENADINES |
| Financial License | Financial License for Saint Vincent and the Grenadines (SVGIBC) |
| Maximum leverage | 1,000 times |
| Fund management method | Segregated accounts (with trust protection) |
| Japanese support | can be |
| Trading Tools | MT4/MT5 |
| Margin call | None (Zero-cut system is used) |
MYFXMarketsis an overseas forex broker founded in 2014
Our services for the Japanese market have been available since 2020, and inquiries can be made in Japanese
There are three ways to contact us: email, chat, and LINE. However, if your inquiry is urgent, we recommend contacting us via chat
The maximum leverageis 1,000 times, which is a relatively high leverage ratio compared to other overseas forex brokers.
Funds are managed separately, butprotected by a trust, making them extremely safe.
We hold a financial license from Saint Vincent and the Grenadines ( SVGIBC )
When usingan overseas forex broker,be sure to check its rating in a comparison ranking of recommended brokers.
What financial licenses does MYFXMarketshold?
MYFXMarketsa financial license from Saint Vincent and the Grenadines ( holds SVGIBC )
SVGIBC is a financial license held by many overseas forex brokers, but it does not actually issue financial licenses for forex brokers, and thereforedoes not guarantee that the company is a legitimate forex broker.
Therefore, it is considered to have low credibility among financial licenses
However, since there are overseas forex brokers that do not hold any financial licenses,MYFXMarkets, which does hold a financial license, can be said to have a certain level of reliability
How does MYFXMarketsmanage funds?
At MYFXMarkets, customer funds are managed through segregated accounts (with trust protection)
Segregated accounts are a fund management method that keeps customer funds and operating funds separate, and it is a fund management method adopted by many overseas forex brokers
However, relying solely on segregated management without a checking body makes it unclear whether the segregated management is truly being carried out, and the reliability of refunds in the event of bankruptcy or other unforeseen circumstances is not high
However,MYFXMarkets,customer funds are held in trust banksand monitored by external auditing bodies.
Therefore, customer fundsMYFXMarketswill not be used asMYFXMarketsfaces difficulties in its operations,deposited funds will be refunded 100%.
Very few overseas forex brokers offer trust protection, making the security of fund management extremely high
What actions and trades are prohibited on MYFXMarkets?
MYFXMarketsprohibits the following transactions and activities:
- Rate manipulation
- Group trading
- Hedging between accounts or between brokers
- Latency trading
- Arbitrage
- Front running
- Transactions that MYFXMarketsdeemed fraudulent
All of these actions and trades are prohibited by other overseas forex brokers, but the one you need to be careful about is ③, hedging between accounts or between brokers
Those who use multiple overseas forex brokers should be especially careful, as they may unknowingly be engaging in hedging across brokers
Are there any instances of withdrawal refusals at MYFXMarkets?
After investigating withdrawal refusals related toMYFXMarkets, mainly on social media, I found posts from users who reported being denied withdrawals byMYFXMarkets
MYFXMarkets is indeed a terrible broker that refuses withdrawals #MYFXMarketsMYFXMarkets pic.twitter.com/pRYGo0TgG1
— John Monjiro (@jackalfromMisso) December 11, 2024
Based on the content of the notification, it appears to be a measure taken in response to prohibited trading, but since the account has also been closed, it is highly likely thatMYFXMarketsjudged it to be malicious trading
However, since it is stated that the principal can be withdrawn, only the profits are confiscated
Since malicious overseas forex brokers often refuse withdrawals, including the principal amount,MYFXMarkets' response shows a certain degree of sincerity
We also found the following posts:
List of unscrupulous brokers that refuse withdrawals
— List of FX brokers that refuse withdrawals (@yahami8888) January 29, 2025
:Vantage,
MIDORIFX
, DooPrime
, Milton Markets
,MYFXMarkets
, PUPrime.
Using these brokers is like throwing your money down the drain, so absolutely do not use them.
Small withdrawals (up to 50,000 yen) are possible, but withdrawals exceeding 10 to approximately $1,875 will be denied with various excuses.
Being listed in this way suggests that there may have been a certain number of reports of withdrawal refusals. A common reason for withdrawal refusal is that the account engaged in transactions that violated the bonus terms and conditions
Many overseas forex brokers offer generous bonus campaigns, but these often come with stricter trading terms and conditions, and it's not uncommon for bonus-specific trading terms to apply when using bonuses
MYFXMarketsalso has bonus terms and conditions, and if you violate prohibited trading practices, withdrawals may be refused or your account may be frozen (closed)
Since we cannot inquire about the details of the review process, the exact reason for the withdrawal refusal is unknown. However, you will be notified that this part of the terms of service has been violated, so you can make an educated guess about the reason
In this case, since the terms and conditions state that trading such as rate manipulation, group trading, hedging between accounts or between brokers, latency trading, arbitrage, and front-running are prohibited, it is highly likely that one of these types of trades were performed, even unintentionally
Since the principal will be returned and the reason for the forfeiture of profits is stated,it does not seem to be a malicious refusal to withdraw funds.
Who would I recommend MYFXMarketsto?
Here, we'll introduce whoMYFXMarketsis recommended for and who it's not recommended for
MYFXMarket is recommended for: ① Those who want to mainly engage in scalping
MYFXMarket is known as an overseas forex broker with generally narrow spreads, and it also offers zero-spread account types
Since scalping is permitted,a trading environment suitable for scalping, making it a favorable environment for traders who primarily engage in scalping.
Furthermore, since spreads affect all trading styles, you can gain an advantage in trading methods other than scalping
MYFXMarket is recommended for people like this (2) those who want their deposited funds to be managed securely
Many overseas forex brokers manage customer funds using segregated accounts, keeping them separate from their own assets
Therefore, customer funds should remain untouched and not be used for operating assets. However, in the case of overseas forex brokers without oversight bodies, it is uncertain whether customer funds are truly untouched
However, at MYFXMarket, customer funds are held in trust banks and audited by checking institutions, so customer funds are kept safe, and even if MYFXMarket's operations become difficult,deposited funds will be refunded 100%.
Therefore, even those who are hesitant to deposit large amounts of margin with overseas forex brokers can do so with peace of mind
MYFXMarket is recommended for people like this ③ Those who want to try using a unique signal tool
MYFXMarket offers its own unique signaling tools
The signal tool analyzes market information and chart movements in real time, andnotifies you of entry points and exit lines.
While it is possible to trade according to the signal tool, expert analysis and explanations are also provided, so combining them with the signal tool can further improve accuracy
The signal tool can be installed and used with MT4/MT5, and you can also receive notifications by registering on Telegram or Discord
MYFXMarket is recommended for people like this ④ People who want to trade various stocks
MYFXMarket offers over 50 currency pairs
Since we handle not only major currencies but also minor currencies, you have a high chance of finding a currency pair that suits your trading style, such as currencies with high swap points or high volatility
Therefore, it is also recommended for those who want to try trading various currency pairs
MYFXMarket is not recommended for the following people: ① Those who want to take advantage of generous deposit bonuses
MYFXMarket is offering a deposit bonus
While deposit bonuses are offered both irregularly and permanently, MYFXMarket's permanent deposit bonus is 50% up to approximately $250.00, which is somewhat lower compared to its competitors
Furthermore, there is a time lag before the deposit bonus is reflected in your account, making it unsuitable for those who want to use the bonus to trade immediately after making a deposit
MYFXMarket is not recommended for the following people: ② Those who want to use an overseas broker with many Japanese users
MYFXMarket launched its services for Japan in 2020 and has been focusing on acquiring Japanese users through social media promotions targeting Japanese audiences. However, there are still relatively few Japanese users and limited information available
There is particularly little information available on social media, and user reviews are scarce
Furthermore, when there are problems such as abnormal chart movements, overseas forex brokers with many users often receive immediate posts on social media from their users. However, with MYFXMarket, there are few such posts, making it difficult to determine whether the problem lies with the user's environment or the server
The official Japanese social media accounts are very active in posting updates, so they will likely post information in case of any problems. However, those who want to hear a variety of third-party opinions may find it somewhat lacking
What I learned from actually using MYFXMarket
Here, I'll share the advantages and disadvantages I discovered after actually using MYFXMarket
Benefits I discovered after actually using it
High execution power and equal slippage
MYFXMarket has data centers located all over the world, providing a fast and stable trading environment
In actual trading, I never experienced any instances of orders being rejected due to high execution speed
The system also handles slippage equally. Orders placed during periods of high price volatility, such as before and after the release of important economic indicators, may be executed at an unintended rate due to rate fluctuations before execution. However, the system executes orders equally regardless of whether the rate is favorable or unfavorable to the trader, so there is no inequality where traders' orders are rejected only when the rate is favorable
Trading only before and after the release of important economic indicators is not prohibited
Many overseas forex brokers prohibit trading before and after the release of important economic indicators because the market tends to become volatile and more speculative, but MYFXMarket does not have any such restrictions
I actually contacted support to ask if trading only around the time of important economic indicator announcements was prohibited, and they said it wasn't
Turbulent markets are high-risk due to their high volatility, but they also offer opportunities for significant profits
Disadvantages I discovered after actually using it
The bonus terms and conditions are a bit difficult to understand
At MYFXMarket, trading using bonuses requires adherence to the bonus terms and conditions. However, the bonus terms and conditions document is somewhat unclear, and MYFXMarket may take measures such as canceling profits at its discretion
Additionally, deposit bonuses have an expiration date, and any bonuses that have expired will be forfeited
Experienced FX traders will likely grasp the nuances after reading it once, but it might be difficult for beginner traders to understand
Bonus campaigns currently running at MYFXMarket
As of July 2025, here are the promotional bonuses currently being offered at MYFXMarket
- 50% deposit bonus
- Up to approximately $250.00
- The validity period is 60 days
This is a deposit bonus that can be awarded up to approximately $250.00
Please note that this offer can only be used once, and the bonus is only valid for 60 days
- A minimum deposit of approximately $187.50 is required
- A minimum of 3 lots must be traded
- Entry required
This is a campaign where you can win domestically produced rice
After entering the market, you will need to deposit approximately $187.50 or more and trade at least 3 lots
Please note that corporate accounts, micro accounts, and MAM/PAMM accounts are not eligible for this campaign
This campaign offers a cashback of up to approximately $3,125
The cashback amount increases with the number of trading lots
| trading volume | Cashback amount |
|---|---|
| 10,000 lots ~ | approx. $3,125 |
| 7,000 lots to less than 10,000 lots | approx. $1,875 |
| 5,000 lots to less than 7,000 lots | approx. $625.00 |
| 2,000 lots to less than 5,000 lots | approx. $500.00 |
| 1,000 lots to less than 2,000 lots | approx. $375.00 |
| 600 lots to less than 1000 lots | approx. $250.00 |
| 400 lots to less than 600 lots | approx. $125.00 |
| 200 lots to less than 400 lots | approx. $62.50 |
| 100 lots to less than 200 lots | approx. $50.00 |
| 75 lots to less than 100 lots | approx. $37.50 |
| 50 lots to less than 75 lots | approx. $25.00 |
| 20 lots to less than 50 lots | approx. $12.50 |
| 15 lots to less than 20 lots | approx. $6.25 |
| 12 lots to less than 15 lots | approx. $5.00 |
| 10 lots to less than 12 lots | approx. $3.75 |
| 7 lots to less than 10 lots | approx. $2.50 |
| 5 lots to less than 7 lots | approx. $1.25 |
| 2 lots to less than 5 lots | approx. $0.63 |
| 1 lot to less than 2 lots | approx. $0.31 |
To receive the maximum cashback, you need to trade more than 10,000 lots, so aim for cashback within a reasonable range
About MYFXMarketsaccount types
Standard Account (MT4)
| spread | 1.0 pips ~ |
| Minimum deposit amount | none |
| Maximum leverage | 1,000 times |
| Tradable currency pairs | 50+ currency pairs |
| Transaction fees | free |
| Minimum trading lot size | 0.01 lot |
Standard Account (MT5)
| spread | 1.0 pips ~ |
| Minimum deposit amount | none |
| Maximum leverage | 1,000 times |
| Tradable currency pairs | 50+ currency pairs |
| Transaction fees | free |
| Minimum trading lot size | 0.01 lot |
Pro account (MT4)
| spread | 0.0 pips ~ |
| Minimum deposit amount | none |
| Maximum leverage | 500 times |
| Tradable currency pairs | 50+ currency pairs |
| Transaction fees | 6.65 USD/1 lot |
| Minimum trading lot size | 0.01 lot |
Pro account (MT5)
| spread | 0.0 pips ~ |
| Minimum deposit amount | none |
| Maximum leverage | 500 times |
| Tradable currency pairs | 50+ currency pairs |
| Transaction fees | 6.65 USD/1 lot |
| Minimum trading lot size | 0.01 lot |
Micro account
| spread | 1.0 pips ~ |
| Minimum deposit amount | 30USD (equivalent) |
| Maximum leverage | 500 times |
| Tradable currency pairs | 50+ currency pairs |
| Transaction fees | free |
| Minimum trading lot size | 0.01 microlot |
The Standard account is a standard account type that accommodates all types of trading, with a maximum leverage of 1,000x, making it a standard account type that can be used by beginners and advanced traders alike
While the Pro account incurs trading fees, it offers narrow spreads and is suitable for scalping, making it an ideal account type for intermediate and advanced traders
A micro account is an account type with a small lot size, making it ideal for those with limited capital or those who want to try trading on a trial basis
For beginners or those who don't have a specific trading style in mind, a Standard account is recommended. For those who aim for short-term trading such as scalping, a Pro account is recommended. For those who want to trade with a small amount of margin, a Micro account is recommended
How to open an account with MYFXMarkets
This guide explains how to open an account withMYFXMarkets
① Access the official website
Go to the official MYFXMarketswebsite and tap "Open an account."
You can also access it from here
② Enter your name, email address, etc
After entering the information, check the box that says "I am a human" and tap "Register"
③ Authenticate your email
You will receive an email from MYFXMarketsto the email address you registered. Click "Confirm" in the email body
④ Enter your personal information
Enter more detailed information, such as your phone number, address, and transaction history
⑤ Select your account type and leverage
Select your currency, account type, and leverage
⑥ Submit identity verification documents and address verification documents
I will upload my identity verification document and proof of address document
The following documents can be used for identity verification and address verification:
Examples of identity verification documents
- passport
- driver's license
- My Number Card
Examples of documents for verifying address
- Utility bill
- Bank statement
- Resident record
*Proof of identity must be within its validity period, and proof of address must have been issued within the last three months
After selecting the file, click Upload
MYFXMarketswill review your application, and if there are no issues, your account will be activated in about one business day
MYFXMarketsdeposit and withdrawal methods
MYFXMarketssupports the following deposit and withdrawal methods:
| Payment Methods | Deposit fee | Reflection guideline |
|---|---|---|
| Domestic bank transfer within Japan | free※ | 1-3 business days |
| International bank transfer | free※ | 1-3 business days |
| Credit card / Debit card | free | Immediately |
| Cryptocurrency | free※ | Immediately |
| bitwallet | free | Immediately |
* WhileMYFXMarketsdoes not charge any fees, the other party may charge fees
| Withdrawal methods | Withdrawal fees | Reflection guideline |
|---|---|---|
| Domestic bank transfer within Japan | approx. $12.50 | 1-3 business days |
| International bank transfer | approx. $12.50 | 1-3 business days |
| Credit card / Debit card | approx. $12.50 | 1-3 business days |
| Cryptocurrency | 3.5–30 USDT | 1-2 business days |
| bitwallet | free | 1-2 business days |
Credit cards and bitwallet are recommended because there are no deposit fees, but bitwallet is especially recommended because there are no withdrawal fees either
Frequently Asked Questions about MYFXMarkets
Q. Is usingMYFXMarketsillegal?
A. No
Using MYFXMarketsis not illegal
Q. Can Japanese people useMYFXMarkets?
A. Yes
Japanese citizens residing in Japan can also useMYFXMarkets
Q. HasMYFXMarketsreceived a warning from the Financial Services Agency?
A. Yes
In January 2020, the company received a warning from Japan's Financial Services Agency for "soliciting over-the-counter derivative transactions via the internet."
Q. Is it dangerous to useMYFXMarkets?
A. No
MYFXMarketshas received a warning from Japan's Financial Services Agency, but this warning is for soliciting Japanese citizens without proper authorization. Other major overseas forex brokers have received similar warnings. Therefore, this does not mean thatMYFXMarketsis dangerous
Q. What is the maximum leverage offered byMYFXMarkets?
A. It depends on the account type, but the maximum leverage is 1,000 times
However, leverage is limited by your margin balance
Q. Are there any cases of withdrawal refusal atMYFXMarkets?
A. Several posts regardingMYFXMarkets' refusal to process withdrawals have been found
However, while the likelihood of a user violating the terms of service is high, the likelihood of a malicious withdrawal refusal is low
Here you can find a detailed explanation MYFXMarketsof cases where has refused withdrawals
Q. DoesMYFXMarketssupport inquiries in Japanese?
A. Yes
MYFXMarketsoffers support in Japanese, and you can contact us via email, chat, or LINE
Q. IsMYFXMarketsrunning any bonus campaigns?
A. Yes
MYFXMarketsoffers deposit bonuses and promotional campaigns
You can find more details MYFXMarketsabout the bonus campaign currently running at here
Q. Can I open a corporate account withMYFXMarkets?
A. Yes
You can open a corporate account by submitting the necessary documents
Q. Is it possible to open multiple accounts withMYFXMarkets?
A. The general rule is one account per user, but it is possible to open multiple accounts by creating sub-accounts within a main account
Q. Is scalping prohibited atMYFXMarkets?
A. No
MYFXMarketsdoes not prohibit scalping
Q. Is hedging prohibited onMYFXMarkets?
A. Hedging is only possible within the same account
Hedging with other accounts or other brokers is prohibited
Q. Is automated trading possible onMYFXMarkets?
A. Yes
Automated trading is available at MYFXMarkets
Q. Is demo trading available onMYFXMarkets?
A. Yes
At MYFXMarkets, you can practice trading by opening a demo account
Q. Can I change my account type midway through myMYFXMarketsaccount?
A. No
MYFXMarketsdoes not allow you to change your account type midway through your account
If you wish to use a different account type, you will need to open a new account from your sub-account
Q. What is the stop-loss level atMYFXMarkets?
A. 20% for all account types
Q. Are there any withdrawal fees atMYFXMarkets?
A. Withdrawals via bitwallet are free, however, withdrawals via domestic bank transfers within Japan, international bank transfers, and credit cards incur fees
You can find detailed information MYFXMarketsabout ' withdrawal fees here
summary
MYFXMarketsis a mid-sized overseas forex broker founded in 2014, which began offering services to Japan in 2020
It boasts a maximum leverage of 1,000x andis known for having narrower spreads compared to its competitors.
We also offer our own unique signaling tools, allowing even beginner traders who can't read charts or traders who don't have time to analyze market information to trade
We also focus on providing support in Japanese, and you can contact us via email, chat, or LINE
We have Japanese staff members, so they are native Japanese speakers
While we have confirmed instances of withdrawal refusals, it is highly likely that these were due to transactions that violated the terms of service, andthe possibility of malicious withdrawal refusalsis considered low.
However, the deposit bonus is weaker compared to other companies, and the time it takes for the bonus to be credited is also slow, so improvements are expected in the future
Furthermore,the bonus cushioning feature has been discontinued without prior notice in the past, it's safer to check the bonus terms and conditions before using the bonus.
While there are still relatively few Japanese users, this overseas forex broker is focusing on promotions targeting Japan, and it is expected to expand its services further in the future, making it a promising platform for the future
