Cryptocurrency is the newest trading instrument in the marketing world and has gained popularity rather rapidly. Since the introduction of Bitcoin in 2009, more and more cryptocurrencies have been introduced, but they still remain a decentralized and volatile currency. Therefore, traders need to look for a reliable crypto brokerage firm when they wish to trade this instrument or else they can fall prey to scams or frauds as well. Luckily, MYfintec is a transparent, simple to navigate and safe platform and can provide exemplary service in crypto transactions. This trading platform was established in 2009 and became a part of the Fintech revolution as a venture capital funds manager.
In 2012, it opened to the public as a forex and cryptocurrency broker and now, it is one of the largest brokers in the market that offers a wide array of innovative and sophisticated trading tools to brokers. MYfintec is owned and operated by Kin Ltd. and is a vision of a group of experts who have a clear understanding of the ins and outs of the cryptocurrency market and they have ensured that the platform is equipped with all features that can aid in trading in the market. It is a regulated trading platform and has its corporate headquarters in Marshall Islands, New Guinea.
Unique Features of MYfintec
MYfintec is an excellent trading platform because it offers a number of unique features to those who use it. One of the most distinguishing features of MYfintec is the availability of five account types, something that other platforms don’t usually offer. You can choose between Basic, Silver, Gold, Platinum and Diamond accounts and each of them have features that suit different kinds of traders. For instance, the basic account is good for the beginners whereas the Diamond account is for those who have become professional after years of trading.
Apart from that, when you opt for MYfintec, you will be able to trade a wide array of currencies such as Turkish Lira, South African Rand, Singapore and Hong Kong Dollars and CFDs are also available for trading assets such as Litecoin, Bitcoin, gold, oil and gas, platinum, silver, indices and stocks along with beverages like coffee. The customer support of the platform is also worth noting as they offer assistance 24/5 and resolve any problems that you may experience while trading.
Spreads and Leverage
The leverage that traders can enjoy on MYfintec varies as per the kind of account you choose to have. The Basic account offers traders a leverage of 10%, the Silver account gives traders leverage of 20%, the Gold account enables traders to enjoy leverage of 30%, Platinum account gives access to 40% leverage whereas 50% leverage can be availed when you sign up for the Diamond account. They also offer commissions on referring the platform to other traders and there is also an affiliate program available.
MYfintec has chosen to do things differently as compared to other platforms and it runs on the Tradologic Contract for Difference (CFD) software, which is ideal for both cryptocurrency and forex trading. With this software, traders can take advantage of a seamless and smooth experience when they are executing trades and conducting transactions. It boasts a simple and clean user-interface and it doesn’t suffer from any lags. Plus, the software is also very lightweight so it doesn’t take up a lot of space.
Deposits and Withdrawals
Making deposits on MYfintec is an easy and fast process and there are plenty of options that traders can explore. You have the option of using credit or debit cards, both MasterCard and Visa and the funds are transferred immediately. Bank wire transfers can also be used for adding money to your account, but this method takes a few days to complete. There are online payment methods also supported and these can also lead to immediate transfers, making them incredibly convenient. However, there is a minimum deposit limit of 250 GBP/EUR.
One of the biggest benefits in terms of withdrawal on MYfintec is that it allows you to make the first withdrawal of every month free of charge, but it should be a minimum of 100 GBP/Euro. Additional withdrawals in the month will incur charges of 25 euros. When making withdrawals to your debit and credit cards, at least three days are required as processing time whereas bank transfers can take up to a week or more.
Beginner Support and Educational Material
MYfintec aims to be a comprehensive cryptocurrency and forex trading platform for its traders. Therefore, it has created a complete and comprehensive education academy on its website where traders of different backgrounds and skillsets can find valuable and insightful information that can assist them in the market. There are a plethora of courses for beginners, information about market signals and conditions and also videos and webinars on different topics that can be quite useful for everyone.
Pros and Cons
Using MYfintec can be a wise decision for traders in the long run because this platform is one of the most secure options in the market. 256-bit SSL encryption has been used for keeping the data encrypted, whether it is in rest or in motion. Traders are instructed to use strong passwords for ensuring maximum account security and secure browsing facilities are provided. In addition, MYfintec keeps the finances of traders and the platform segregated to prevent them from being compromised. The money is kept safe with a number of investment grade banks and other key financial information is also protected through firewalls and antivirus programs.
The platform also has bonus features such as trading signals, reports and loyalty bonuses to offer, which makes it a feasible choice for every trader. Traders are able to enjoy a secure, comprehensive and intuitive trading environment.
Thus, MYfintec is a platform that has a unique look and has made its clients a priority. It is a platform that’s not just easy to use, but is also powerful enough to enable traders to carry their trades and manage their accounts without any hassle.