MYFX Markets Deposit & Withdrawal

For retail traders, the true measure of a broker isn’t how fast you can open an account or how slick its platform looks. It’s whether you can reliably get your money back when you want it. Deposits and withdrawals are the circulatory system of any trading relationship, and blockages here are often the earliest—and most ominous—warning signs of deeper problems.

When we turned our investigative lens on MYFX Markets, the withdrawal story immediately stood out. Across multiple review platforms, we found a high volume of trader complaints specifically about failed or obstructed withdrawals. While no broker is immune to isolated glitches, the sheer density and consistency of these reports demanded a closer look.

Transparent brokers make it easy to find a detailed list of deposit and withdrawal options, complete with processing times, minimum and maximum limits, and any associated fees. MYFX Markets does none of this. Our review of their official documentation and website revealed a complete absence of disclosed payment methods, withdrawal methods, or fee schedules.

This opacity isn’t a minor oversight—it’s a structural gap that prevents traders from assessing the true cost and speed of moving their money. Without this basic information, clients are effectively flying blind, forced to commit funds without knowing how or when they can retrieve them. In our experience, brokers with nothing to hide are eager to showcase their payment rails; those that hide them often have something to conceal.

Our investigation into user reviews reveals a deeply troubling pattern. Across major review platforms, we counted 23 distinct complaints explicitly tied to withdrawal difficulties. While some brokers do attract a few disgruntled users, the volume here is disproportionate, especially given MYFX Markets’ relatively small user footprint.

Concrete examples bring this pattern to life. One trader recounted: “The customer service of Myfx Markets claimed that deposit and withdrawal is unlimited, while giving no access to withdrawal now. I traded… and made profits, applying to withdraw money. But the customer service said that I was…” – the complaint trail goes cold, but the implication is clear. Another user with two MAM accounts complained that they could never contact customer care and faced blocked withdrawals despite having an LPOA in place.

Even more alarming are the reports of profits being wiped out or accounts terminated when clients attempt to withdraw. One scalper stated: “After putting in the effort to trade and grow my account through scalping, they deleted all my profits, claiming I was engaging in ‘latency trading.’ This accusation is completely unfair as I…” Such claims, whether grounded or not, erode trust and raise red flags. When a broker retroactively invalidates profitable trades and seizes funds, it calls into question the very fairness of the trading environment.

Another user lamented: “Inexperienced traders. That close all of your trades when you want to release funds from your account. Customer service is terrible. You cant speak to a real person on the phone. I’m still waiting for what little is left of my initial investment.” This pattern—closing positions just as a withdrawal is requested—is a classic pressure tactic that we’ve seen in numerous scam operations.

The contrast between the deposit and withdrawal experiences is stark. On the deposit side, several positive reviews mention smooth funding: “Deposits and withdrawals are straightforward” and “funding and withdrawal are quite smooth.” Yet these are overshadowed by the negative withdrawal reports. The asymmetry—where deposits are quick and easy but withdrawals are met with delays, excuses, or outright denial—is a hallmark of potentially problematic brokers.

We note that some structural features could explain part of the friction. MYFX Markets’ website lacks 24/5 support, and the company is registered in the Comoros with an offshore licence, making real-time operational coverage sparse. But these operational shortcomings cannot excuse the deletion of profits or the abrupt closure of accounts. In our experience, legitimate liquidity providers and ECN brokers have no incentive to block client withdrawals; they earn from spreads and commissions. The behaviour reported suggests a possible dealing-desk model where the broker may be trading against clients, or at best, extremely poor operational controls.

MYFX Markets operates under MYFX Group Limited, with a registered address in the Union of Comoros and an FSA derivatives trading license from Seychelles. This regulatory framework offers limited protection. Seychelles is not known for rigorous enforcement of client fund segregation or investor compensation schemes. In the event of a dispute, traders have little recourse beyond the broker’s internal processes.

Compounding the concern is the company’s listing of zero employees. A broker with no staff roster raises questions about who is actually processing withdrawals, handling disputes, and maintaining the platform. Coupled with the opaque funding methods, this creates an environment where clients risk becoming trapped with no meaningful avenue for recovery.

It would be unbalanced not to acknowledge that some users report successful withdrawals. A handful of reviews praise “fast withdrawals” and “straightforward” processes. One user wrote: “Reliable broker with fast withdrawals and fast trading execution.” Another claimed they received profit payouts the next day after contacting customer service.

However, these positive voices are notably fewer than the complaints. In the context of a 2.9/5 Trustpilot score and a 1.153/5 Forex Peace Army rating, the positive reports may represent a minority of fortunate or newer clients, or perhaps they involve smaller withdrawal amounts that are easier to process. It’s also possible that experiences vary widely depending on the account type or geographical region—but with payment methods undisclosed, traders can’t assess these risks in advance.

Based on the evidence, FXCanary cannot recommend MYFX Markets as a safe venue for traders who intend to withdraw profits with confidence. The combination of hidden payment terms, a high volume of credible withdrawal complaints, and a weak regulatory position creates an unacceptably high risk of funds being delayed or lost. The pattern of easy deposits and obstructed withdrawals is a well-documented precursor to funds being trapped indefinitely.

For traders who still choose to engage with MYFX Markets, we advise a strictly defensive approach:

• Start with the minimum deposit ($30 for the Micro account) and test a small withdrawal immediately after executing a handful of trades.
• Document every communication, taking screenshots of chat logs and emails.
• Avoid committing large sums until you have successfully withdrawn significant profits without issue.
• Verify in advance what specific payment method you will be using for withdrawals, and understand its chargeback and dispute resolution options—though with methods undisclosed, this may require a direct inquiry to support first.

Ultimately, the safety of your funds depends on your own diligence. When a broker makes it hard to get your money back, it’s often a sign to take your money somewhere else. The 23 withdrawal-related complaints we uncovered are not an anomaly; they are a warning. Trade with your eyes wide open.