The craze of cryptocurrencies has spread far and wide, especially after Bitcoin’s rally last year that saw many investors rake in huge profits. Bitcoin may have been the pioneer, but it is not the only one as many others such as Litecoin, Ethereum and more have popped up. Suffice it to say, this digital currency is already being considered as the future of modern banking and transactions due to its decentralized nature. However, since it is volatile and unregulated for now, people who are interested in investing in it are in search of a reliable and transparent broker for offering them good services when making crypto transactions.
Is there any such brokerage out there? Yes, while there are a number of scams as well, MYfintec is definitely not one of them. MYfintec was formed in 2009 and it has become a leading online broker thanks to its flexibility and the unique trading environment it presents. MYfintec has been designed by experts to accommodate any trading style and doesn’t restrict traders to just a single asset, which has also contributed to its acceptance. The company behind this online brokerage is Kin Ltd. and its registration is done in Marshall Islands, New Guinea.
The fact that it is relatively new as compared to some of the others that have been operating in the market for a while should be considered a disadvantage. However, MYfintec hasn’t allowed this to bring it down and it continues to offer services and features that are making its establishment date irrelevant. Outlined below are some of the top reasons why MYfintec should be the broker to choose when you want to trade cryptocurrencies or even other assets such as stocks, forex or indices:
Reason 1: It has considerable account options
First and foremost, the various account options it is offering to traders have made MYfintec one of the best brokers in the market. Sure, others also have some variety, but they usually don’t go higher than two or three. MYfintec understands that traders can be categorized into several groups and not just beginners and experienced. Therefore, it is offering five account options to accommodate all kinds of traders and investors.
The first option is the Basic account that has a minimum deposit of €500 and is for the very new traders who don’t really need access to sophisticated tools and features at this point. They just need good customer support, some basic information and leverage, which they get. The next option is the Silver account with a minimum deposit requirement of €2,500, which is perfect for those who have gotten their feet wet and are ready for a few risks. There is considerable leverage, customer support, access to trading signals and charts and a loyalty bonus.
Third option is Gold with a deposit requirement of €10,000 and is more appropriate for a trader with a little bit of extra seasoning. They get account managers, trading sessions, plenty of leverage and bonuses as well. Fourth category is Platinum and is for experts because it requires €50,000 minimum, which is a big risk. The account has big perks too and access to trading signals, webinars, advanced charts and other bonuses not found elsewhere. Last is the Diamond account and reserved for extreme professionals because you need to have €250,000 in order to get started. It carries a high leverage and you get all features that MYfintec has in its arsenal.
Reason 2: It values security and privacy
MYfintec is familiar with the huge risks that are associated with trading online. There have been plenty of cases of identity theft, hacking, draining of funds and other criminal activities that are enough to make traders wary. Therefore, MYfintec has taken the security and safety of their clients’ data very seriously. The funds processing system and the platform itself are kept separate to maintain independence. Rigorous accounting procedures are implemented for segregating client accounts, which prevents misappropriation of funds.
The internal controls are also quite stringent and MYfintec complies with all international fraud regulations and Anti-Money Laundering (AML) procedures. Apart from that, it requires clients to submit a number of documents for verifying their identity and the same are used when funds are being withdrawn to prevent any mix ups. For securing communications, a 256-bit SSL encryption has been employed on the website via the HTTPS secure website protocol thereby preventing third parties from gleaning anything.
Reason 3: It provides education to the traders
Another reason that has made MYfintec a good choice when it comes to choosing a broker is the education center it has on its website. Cryptocurrencies are a relatively new form of investment and while traders are learning, there is something new introduced every once in a while particularly because they are still unregulated. MYfintec is perfectly familiar with this scenario due to which it has provided its customers with access to some exclusive and information educational materials that can be immensely useful.
The good news is that this material is not just pertaining to cryptocurrencies; it is everything trading. Thus, newbies can become well-equipped with the terminologies and jargon involved and also grasp the basics of forex and other assets. As far as experienced investors are concerned, they can also pick up new trading styles and strategies they might not have known and add to their existing knowledge.
While these are three primary reasons that have made MYfintec a top choice for trading cryptocurrencies, there are plenty of smaller ones as well. It offers traders with excellent customer service, which adds to its appeal because you are assured that you can get the help you need without any hassle. Plus, the referral program that MYfintec uses is also a source of income for traders because their referrals can earn them commission without requiring them to do anything. They also have an affiliate program for contracts trading that can be an interesting venture. With plenty of payment options available and easy withdrawal, MYfintec can serve as the best broker for trading activities.