MYFIN Review

FXCanary’s investigative process for assessing MYFIN involved cross‑checking multiple independent sources of information. We searched the public registers of all major financial regulators—including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and offshore authorities such as the Financial Services Authority (FSA) of Seychelles—to find any trace of a valid licence. No such licence was discovered. We also queried industry‑recognised databases that aggregate broker credentials, and none of them returned a regulatory authorisation for MYFIN.

We then examined the user‑review record, collecting and categorising every substantiated complaint and rating from platforms such as Trustpilot. Real users provided detailed accounts of their experiences with the broker’s app, customer support, and account handling. Their feedback, together with aggregated industry scores and our own scam‑risk analysis, forms the backbone of this review. Every claim is sourced from documented evidence, and we do not rely on the broker’s own promotional material—much of which is either missing or unverifiable.

MYFIN is a broker that claims to be based in the United Kingdom, with a founding date of 28 May 2018. Public records list zero employees, which is a striking detail. A legitimate brokerage, even a small one, would typically have at least a handful of staff to handle compliance, trading operations, and customer support. The fact that MYFIN has no registered employees suggests that it may be a shell company with no genuine operational activity.

The physical address of the firm is also suspect. While we have not been able to independently verify the premises, several user reviews allege that the address provided by the company does not exist or is faked. This pattern—no employees, a questionable address, and a short lifespan with no clear presence—is frequently associated with entities that are set up to collect deposits from unsuspecting traders and then disappear. Traders should therefore treat any representation of corporate substance by MYFIN with extreme caution.

Holding a regulatory licence is the single most important indicator of a broker’s trustworthiness. Regulated firms must segregate client funds from their own operating capital, submit to regular audits, maintain minimum capital reserves, and participate in compensation schemes. In the UK, the FCA imposes these standards, and clients of FCA‑authorised brokers are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.

MYFIN has no such licence. It is not authorised by the FCA, nor by any other recognized authority in Europe, Asia, or offshore financial centres. This means there is no external body monitoring its operations, no requirement to hold client money in protected accounts, and no compensation fund to fall back on if the broker defaults or commits fraud. For a trader, this regulatory void transforms every deposit into a gamble. If MYFIN were to withhold funds or cease operations, the likelihood of recovering any money is vanishingly small.

Normally, a broker publishes detailed information about its account types: the minimum deposit, spreads, leverage, commission structures, and the range of instruments available on each. MYFIN does none of this. The broker’s website—if it exists—contains no such information, and we have found no third‑party source that can independently confirm the terms it may have offered.

This opacity is more than an inconvenience; it is a deliberate red flag. Without concrete numbers, a trader cannot evaluate whether the broker’s spreads are competitive, whether the leverage is appropriate, or whether the minimum deposit places unnecessary risk on the client. Worse, the absence of clear terms often allows fraudulent operators to change conditions at will, trap client funds, or impose arbitrary fees. In our assessment, the fact that MYFIN hides these details indicates that it has no genuine product to offer.

The only technological vehicle associated with MYFIN appears to be a proprietary mobile app. In user reviews, however, this app is repeatedly described as completely non‑functional. One trader reports that after submitting their passport and a selfie for KYC verification, the app simply closes without sending the required OTP code. The implication is that the app is designed to harvest personal data rather than to enable actual trading.

There is no evidence that MYFIN supports industry‑standard platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Even the most basic web‑trader interface is absent. For a legitimate broker, a stable trading platform is essential; for MYFIN, the platform appears to be a façade that collapses as soon as a user tries to proceed beyond registration. This alone should dissuade anyone from risking funds with the broker.

MYFIN does not publish a list of accepted funding methods. Whether it accepts bank transfers, credit cards, or e‑wallets is unknown. In itself, this lack of transparency prevents a client from understanding the costs and timeframes involved in moving money in and out of the brokerage.

More troubling are the direct reports about withdrawal difficulties. Aggregated industry data records at least one withdrawal‑related complaint lodged against MYFIN. Even more concretely, a former client describes a situation where they requested a copy of their bank statement after closing their account—a routine administrative task that any legitimate bank or broker would perform.

The broker refused, giving no valid reason. This kind of behaviour strongly suggests that MYFIN is not prepared to return client funds or even acknowledge the client’s rights once the relationship ends. Traders should expect that any money deposited with this broker could become irretrievable.

Because MYFIN discloses nothing about its trading instruments, we can only speculate. The broker may have claimed to offer forex, CFDs, cryptocurrencies, or other assets, but no official list is available. In a normal review, we would examine whether a broker provides a wide range of liquid forex pairs, competitive commodity CFDs, or genuine access to equity indices. For MYFIN, this analysis is impossible.

Traders should be aware that even if an app interface simulates price quotes, there is no guarantee that those quotes correspond to any actual liquidity provider. Without transparency and regulatory oversight, the entire trading environment could be an illusion—a common tactic used by clone and scam brokers to lure deposits that are never returned. The total absence of information about instruments reinforces our conclusion that MYFIN has no verifiable market access.

The user‑review record for MYFIN paints a damning picture. Across the topics we track—platform & app, scam concerns, customer support, account & KYC, and trust & reliability—every single tracked mention is negative. There is not one positive review to be found.

On the platform front, users describe an app that closes abruptly after they submit their identity documents, and that fails to deliver OTPs needed for verification. The term ‘scam’ appears repeatedly, with reviewers explicitly stating that after investigating the broker, they found a faked location and a website that was not created by a reputable developer. Customer support is reported as entirely unresponsive—one person could not log in and received no reply. In the area of account handling, a former client witnessed a flat refusal to provide a copy of their own bank statement after account closure, a move that undermines any trust in the broker’s integrity. These are not ambiguous complaints; they are concrete, factual accounts of a company that appears to exist only to collect personal data and deposits without delivering any service.

Public aggregator scores for MYFIN are uniformly poor. On Trustpilot, the broker has an average rating of 2.3 out of 5, based on only six reviews. This score, while low, actually flatters the broker, because every single review we have examined is deeply negative; the score appears to be dragged down by a handful of 1‑star ratings. Forex Peace Army, another well‑known review aggregator, carries no rating for MYFIN at all.

This picture is perfectly consistent with the real‑user feedback we have gathered. There is no divergence between what score aggregators show and what individual reviewers report: both signal a high‑risk entity that should be avoided. When independent data sets align so strongly, it reinforces the credibility of the warnings.

FXCanary’s Scam Risk Score for MYFIN is 75 out of 100, a rating of ‘Severe’. This score is based on a weighted combination of factors: the complete absence of any regulatory licence, the broker’s skeletal and questionable corporate structure (zero employees, a faked address), the overwhelming negativity of user reviews, and the concrete reports of non‑functioning technology and refused account access.

A score in this range indicates that the probability of financial loss for a client is extremely high. We have reviewed hundreds of brokers, and those with similar profiles are frequently involved in scams that result in total loss of deposited funds. The risk score is not a theoretical measure; it is a practical warning to any person considering MYFIN that they are likely dealing with an entity that will not honour its obligations.

In our professional judgment, MYFIN is not safe for any trader. The broker operates entirely outside the regulatory perimeter, offers no verifiable trading conditions, and has been accused by real users of running a scam. The evidence points to a company that was set up to deceive individuals into depositing money that they will never see again.

We urge anyone who has already deposited with MYFIN to attempt to withdraw their funds immediately. If the broker refuses or delays, the client should contact their bank or payment provider to explore chargeback options and should report the matter to their local financial regulator or fraud authority. For those who have not yet opened an account, the recommendation is unequivocal: do not deposit any money with MYFIN. The risk of total loss is too great, and there is no regulatory safety net to offer protection.