MynetCoin is an online trading broker that provides high-end technology and all the tools necessary to ensure an optimal trading experience. They offer access to 5 major financial markets: forex, indices, stocks, cryptocurrencies, and commodities. The minimum deposit requirement is $250. The broker is not regulated which may be a red flag for potential clients.
MynetCoin Review, Pros & Cons
- Proprietary trading platform
- Educational resources & trading tools
- Dedicated customer support
- Unregulated broker
- Limited account deposit & withdrawal methods
- A minimum deposit of $250
- No MetaTrader platforms
- No USA traders
In this detailed MynetCoin review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
MynetCoin is a retail trading broker that provides traders with an in-house-developed platform for trading multiple financial instruments. There is a selection of useful trading and learning tools as well as a professional customer support team to assist traders. Traders get access to many trading features, including multiple trading account options, leverage of up to 1:500, competitive spreads, zero commission, and more.
The broker is not regulated by any known financial authority at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Traders from different parts of the globe are allowed to open an account and trade with the broker, provided that trading with a foreign broker is permissible under the local laws or regulations of their countries of residents.
Some MynetCoin features and products mentioned within this MynetCoin review may not be available to traders from certain countries because of legal restrictions.
MynetCoin provides traders with a web-based trading platform that is developed in-house to facilitate seamless trading of the available financial instruments. The trading platform has a variety of benefits for both beginner and experienced traders. It features several useful tools, such as professional account management, expert analytics, 10+ technical indicators, 10+ graphic analysis tools, up-to-date market monitoring, single-click trading, trading history, market news, and analysis. As a web-based platform, it can run directly in your web browsers without the need to download or install any additional software.
MynetCoin Trading Tools
The following standalone trading tools are available on the broker’s website: trading calculator, and multiple forex live charts. There is also an economic calendar that shows the schedule of market events along with their expected impacts on the financial markets.
Educational resources help ensure that traders make knowledgeable trading decisions, so the broker provides traders with learning articles, trading guides, and market news.
MynetCoin offers the following trading instruments: forex, indices, stocks, cryptocurrencies, and commodities.
MynetCoin Accounts & Fees
Traders are offered a choice of three live trading accounts: Junior ($250), Advanced ($1,000), and Elite ($5,000) Accounts.
As broker fees can vary and change, there may be additional fees that are not listed in this MynetCoin review. It is imperative to ensure that you check and understand all of the latest information before you open a MynetCoin broker account for online trading.
The broker’s multilingual customer support team is available 24/5 to respond to all your trading inquiries. The support team can be reached via the following contact channels: telephone, email, support ticket system, and online form.
MynetCoin Deposit & Withdrawal
Traders are allowed to deposit and withdraw funds, to and from their trading accounts, using credit/debit cards and wire transfers.
MynetCoin Account Opening
It is easy to create a live trading account with WDC Markets: simply tap the ‘Sign Up’ tab at the top right corner of the broker’s website, fill out the form, and then wait for your account to be approved.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
MynetCoin is a multi-asset brokerage firm that provides a global clientele with access to several financial markets via a proprietary trading platform. They provide traders with educational resources, useful trading tools, and 24/5 customer support. Traders benefit from competitive trading conditions, such as multiple account options, negative balance protection, reasonable spreads, zero commissions, and more.
Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose.