Anyone who is interested in trading needs a reliable broker to get them started. While there is no shortage of brokers to find, not all of them are trustworthy. There are too many scammers in the market and they have already taken advantage of others by stealing their identities and their funds. Obviously, you don’t want to be another victim so you need to be careful when selecting a brokerage. You have to consider their features, commission and fees and reviews before you make up your mind. One of the top options that you will come across in the market is MYfintec. This is a leading brokerage that specializes in forex and cryptocurrency trading, which was established in 2009, but opened to the public in 2012.
In order to get started on MYfintec, you first need to sign up for an account. You will come across five account options, each with their respective features and limits. These accounts are designed for traders with different levels of experience and expertise in the market. They are Basic, Silver, Gold, Platinum and Diamond accounts with the first two designed for those who are new and with little experience whereas the remaining three are for seasoned and experienced traders. The platform supports two currencies; Euros and Great Britain Pounds and you can decide what currency you wish to use.
The minimum deposit requirements start at EUR 500 or its equivalent in GBP, which is for the basic account. The minimum deposit increases with every account as it goes from EUR 500 to EUR 2,500, EUR 10,000, EUR 50,000 and EUR 250,000. Traders can invest an amount they are willing to risk and get started. Depending on the account, they can make use of features such as advanced charts, trading signals (frequency different for every account), trading alerts and sessions, junior and senior account managers, access to the education center, 24/5 customer service, varying leverage and loyalty bonus as well.
One of the best things about MYfintec is that it allows traders to diversify their portfolio by investing in a wide range of assets spanning indices, commodities, stocks, cryptocurrencies and foreign currency. Some exotic currencies can be traded here along with precious metals and even beverages like coffee. However, one of the most appealing features of MYfintec is its affiliate program that gives traders the opportunity of earning hundreds of dollars in commission. The brokerage benefits in the form of a greater user base. In order to reap the rewards of the affiliate program, you have to refer the platform to other traders.
Every converted lead will earn you a 10% commission when your referral makes a deposit. In fact, when these referrals also refer to someone, you will get a 3% commission from their deposit as well. Thus, just by inviting people onto the platform, you will be able to open up a new source of income for yourself. As for the platform, it gets new sales and existing users are motivated to earn more. MYfintec also gives a lot of priority to the security of funds of their clients and also the security of the trading platform itself.
Security concerns have become widespread nowadays as there have been numerous incidents where people had their data compromised by cyber criminals. 256-bit SSL encryption, which is the highest form of security, is implemented by the brokerage for ensuring the data cannot be accessed by any unauthorized third parties. Firewalls are also used and routine checks are performed by security experts to ensure the system is up to date. Moving onto funds, MYfintec has repeatedly declared that the funds are kept in separate accounts and the brokerage cannot use client funds on its own. AML (Anti-Money Laundering) and KYC (Know your Customer) policy has also been followed here for the highest level of security.
The education center at MYfintec is also one of its most impressive elements. If you take a look at it, you will immediately realize that they have put in a lot of time and effort into creating their guides and education center. This includes news, trading academy, technical analysis, video analysis, live market summary, market summary, calculator and calendar. There are guides on trading strategies that can be used for improving your chances of raking in more profits. You can also find a glossary that explains trading jargon and terminologies.
All these guides and educational material can be useful for new as well as experienced traders. MYfintec also offers its clients a variety of deposit and withdrawal methods that can prove to be immensely convenient for traders all over the globe. There are the standard methods like debit and credit cards, including both Visa and MasterCard, as well as bank transfer. Digital payment methods such as Skrill, Neteller etc. can also be used. MYfintec also allows you to deposit your funds in cryptocurrency like Bitcoin. The charges and time taken by every method for deposit are different.
As for withdrawals, the same method are available. One of the noticeable things about MYfintec is that they offer the first withdrawal in a month free of any cost. Any additional withdrawals during the same month will incur charges of EUR 25. This can aid you in reducing your trading costs on a whole. The customer support team at MYfintec is also dedicated and responsive and will be able to assist you via email, social media and texts. You will get a prompt response and be able to make your trades on a timely basis in order to benefit.