MYFXPLAN

MYFXPLAN is an online trading brokerage registered in Australia and founded on April 1, 2019. The company operates the website myfxplan.com and purports to offer forex and CFD trading services. According to public records, the firm has an ASIC registration on file, though the status of this licence is listed as blank, indicating it may not be currently active or verified.

The broker's social media presence is limited to a Facebook page, and aggregated industry data has assigned it an FXCanary Scam Risk Score of 38 out of 100, which falls into the 'Guarded' category. This score suggests caution due to a lack of transparent regulation and limited independent information.

MYFXPLAN claims to be regulated by the Australian Securities and Investments Commission (ASIC), a Tier-1 financial regulator. However, our cross-check of the public register found that the licence status is not confirmed — it shows as '—' in our records. This means that while the company is registered in Australia, it does not currently hold an active ASIC licence to operate as a financial services provider.

Without active regulation, traders have no recourse through a recognised ombudsman or compensation scheme. The absence of a verified licence is a significant red flag, as many Australian-based brokers prominently display their ASIC authorisation details. We advise traders to verify any regulatory claims directly on the ASIC website before depositing funds.

Based on available information, we cannot confirm which trading platforms MYFXPLAN offers or what specific instruments are available. Commonly, brokers in this segment provide MetaTrader 4 or 5, but without official site details, this remains unverified. Similarly, the range of tradable assets — such as forex pairs, indices, commodities, or cryptocurrencies — is not documented in public sources.

This lack of transparency makes it difficult for potential traders to assess whether the broker meets their trading needs. We recommend seeking brokers that clearly disclose their platform choices and instrument lists on their website.

Details about account types, minimum deposits, spreads, and leverage are not available from independent sources. Many brokers offer tiered accounts (e.g., Standard, Pro, Islamic) with varying conditions, but MYFXPLAN has not publicly disclosed such information.

Funding methods and withdrawal policies also remain unknown. Without this information, traders cannot evaluate the cost of trading or the ease of moving money in and out of the account. It is essential for any broker to provide clear, accessible details on these matters.

Given the high Scam Risk Score and the unverified regulatory status, MYFXPLAN is best suited only for experienced traders who understand the risks of dealing with an unregulated or lightly regulated entity. Beginners and retail traders seeking regulatory protection should avoid this broker until more transparent information is available.

The Guarded risk rating reflects that while no confirmed fraudulent activity has been reported, the absence of key information and the uncertain licence status warrant caution. Traders should never invest more than they can afford to lose and should consider brokers with proven track records and strong regulatory oversight.