Based in Estonia, MynetCoin is an online financial services provider that allows traders to buy and sell various financial instruments across different asset classes, including forex, indices, stocks, cryptocurrencies, and commodities. Trades are carried out using a proprietary trading platform that is developed in-house by the broker’s team of fintech experts. They provide traders with several favourable trading conditions, such as multiple trading account options, leverage of up to 1:500, competitive spreads, zero commission, STP execution, and more. The minimum deposit requirement is $250.
MynetCoin Review Introduction
In this MynetCoin review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers, including MynetCoin.
MynetCoin Platforms & Tools
The broker provides traders with the MynetCoin trading platform. The platform is designed to ensure seamless trading of multiple trading financial instruments. It is packed with useful trading 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. The MynetCoin trading platform is available as a WebTrader that runs directly on modern web browsers — Chrome, Safari, Firefox, and Edge — without needing to download or install additional software.
In addition to the built-in tools of the provided trading platforms, the broker provides traders with standalone trading tools, including a trading calculator, multiple forex live charts, and an economic calendar showing the schedule of future market events and their expected impacts on the financial markets.
MynetCoin Research & Education
There is a good selection of educational resources on the broker’s website; they are designed to improve clients’ trading skills and knowledge. These educational resources include learning articles, trading guides, and market news that keeps traders up-to-date with events that take place in the financial markets.
MynetCoin Trading Accounts
MynetCoin provides traders with various live trading account options, including Junior ($250), Advanced ($1,000), and Elite ($5,000) accounts.
MynetCoin Account Funding
MynetCoin accepts bank wire transfers and credit/debit cards for account deposits and withdrawals.
Some payment methods are not available in specific countries, and the time taken to process transactions is dependent on the payment method in use.
MynetCoin Customer Service
All traders’ general, trading, and account-based inquiries are sent to a knowledgeable client support team. The support team is available 24/5 and can be reached via the following contact channels: telephone, email, support ticket system, and online form.
MynetCoin is not regulated by any known financial authority at the moment. The absence of regulatory information on the broker’s website could debar prospective clients from opening an account with the broker.
MynetCoin Review Summary
Founded in 2019, MynetCoin is an online retail broker that operates the STP execution model, which offers access to the interbank markets. They provide traders with an in-house-developed trading platform for trading multiple financial markets. There are various educational resources, useful trading tools, and 24/5 customer support. Other essential features of the broker include numerous account options, negative balance protection, reasonable spreads, zero commissions, and more. The minimum deposit required to start trading is $250. There is no regulatory information on the broker’s website at the moment.
It is worth mentioning that some of the trading products and services in this MynetCoin review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the MynetCoin broker website, which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.