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MegaCoinFX Review: Megacoinfx.com Askew Forex Scam

MegaCoinFX Review: Megacoinfx.com Askew Forex Scam

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MegaCoinFX (Megacoinfx.com) is an awry CFDs, Crypto Currency, and Forex scam to hit the lucrative Forex trading world. Mega Coin FX is professing to offer CFD services, commodities, Forex, and indices. After receiving numerous email complaints from users who lost funds with this broker, we decided to investigate. This detailed and honest MEGACOINFX Review is meant to open your eyes. Know all the dirty tricks used by this broker now!

MegaCoinFX Review

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MegaCoinFX Review:

Email complaints came in droves and this made us want to investigate why users were losing funds. Complaints centered on this broker refusing to allow members to withdraw funds. Why would a broker refuse members of their platform to make withdrawals? This means MegaCoinFX is operating a Forex platform under false pretense. And this is why we need to protect our readers from such brokers. What else could Mega Coin FX be hiding from investors?

Looking at their website, it’s clear why users could fall for their well laid trap. These scammers have created a compelling website which easily entices the eye. And this is what professional scam artists are after. To grab your attention is what scammers are interested in. With a compelling website which almost looks real, most unsuspecting investors will sign up. A safe way of signing up with brokers is to do a search before opening an account. Stay away from this broker.

About MegaCoinFX

According to the disclaimer at the bottom of their homepage, this broker claims to be located in Bulgaria. Scammers will do or say anything to make sure users believe their platforms are EU regulated. For all we know, this broker is based offshore which is even more damning news. Offshore brokers are known to openly flaunt set regulations and rules. And this is why signing up with MegaCoinFX is a pain in the neck. Trusting this broker should not cross your mind.

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And when it comes to the actual people running this website, there’s no real information. Who is the person who owns and runs this platform? Why have they failed to give users names of the people entrusted with members funds? These scammers have ensured they keep their real names hidden for a reason. They don’t want to attract attention to their illicit Forex activities. For all we know, this could be a money laundering scheme. Stay away from this broker and avoid being scammed.

MegaCoinFX License and Registration

After thorough investigating, we found this broker to be wanting in terms of licensing. Did you know this platform is operating under false pretense? They are conducting Forex trading without any valid licensing details. If they are based in Bulgaria, they should have passed the licensing test by CySEC. Sadly, CySEC does not have any broker licensed under this name. And this makes Mega Coin FX a risky Forex platform. This is another reason to stay away from such brokers.

MegaCoinFX Crypto Review

If this broker had valid licensing and registration credentials, they would have posted copies of their registration. Why has this broker failed to post their copies of registration? It’s because they don’t have any license. This broker is operating under false pretense which makes opening an account with them a fraud. Only professional scam artist can steal funds from investors by creating a fake platform. These websites most likely are based offshore and are highly insecure.

Account Funding

When it comes to depositing funds with this platform, these scammers have done their homework. They have made sure depository channels are well open and available. These depository channels include credit cards, wire transfer and Bitcoin. MegaCoinFX is making sure investors have all options available to make deposits. They don’t want any investor to miss an opportunity to deposit. This is what scam artists do, cover all depository channels for full funding.

Withdrawing funds with this platform is what makes it a dirty brokerage firm. Complaints did in fact reveal this broker is not willing to allow withdrawals. And the reason being given is users have not reached the required threshold to warrant withdrawal. This means users have not reached the trading volume set by this broker. And this is when members are asked to deposit more funds to reach the set target. This is what makes Mega Coin FX a brutal scam platform.

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Account Types

MegaCoinFX is offering users four different accounts for trading with. These account types include Silver, Gold, Platinum, and Diamond. Minimum acceptable trading deposit starts at $2,500, $10,000, $50,000 and $100,000. What we found odd with this platform is how high their acceptable deposit is. This is way too high considering the set standards is $250. MegaCoinFX is targeting all types of investors and wants to trap all of them. Stay away from these accounts.

Another disturbing feature with these accounts is how similar they are to each other. Why would anyone sign up with a broker who gives all traders the same advantages? These accounts have the same advantage which is weird. Imagine depositing $100,000 and getting the same advantages as a user who deposits $5,000? This is what makes Mega Coin FX a scam which must be avoided at all cost. Stay away from this broker and any other with same characteristics.

Is safety of funds guaranteed with MegaCoinFX?

For a broker who has no license and no information regarding ownership, funds are not secure. A broker who fails to issue users with valid contract agreement should not be trusted. This broker fails to give details regarding how they handle funds deposited by users. Where do they bank money deposited by members? Could it be possible investors are depositing funds straight to owner’s personal bank account? This would make Mega Coin FX a dangerous platform.

When it comes to segregation of accounts MegaCoinFX is not following this rule. Investors are depositing funds in one singular account which makes it a risky venture. In case this broker faces bankruptcy or insolvency all funds will be lost. Any broker who deposits money with this platform will not be compensated. MegaCoinFX is breaking industry rules such as insuring all money deposited. Make sure to stay away from this broker to avoid being scammed.

Is MegaCoinFX a Scam?

Evidence clearly shows we are dealing with a rogue broker who is defrauding unsuspecting investors. From lack of proper licensing to openly refusing members to withdraw funds, MegaCoinFX is a scam. In order to remain safe, make sure to ignore all incoming calls from their agents. Some of these links contain malware which steals personal data. Stay away from this broker at all times.

MegaCoinFX Recommendation

MegaCoinFX Forex Broker Review

After going through the evidence, we recommend you stay away from this broker. In order to protect our readers, we have to add this platform to our blacklist. This will help our readers know what to expect with this and any other Forex platform. After adding Mega Coin FX to our scam board, authorities are asked to investigate. Forex authorities should shut down this platform to safeguard all parties.

A proven way of making realistic profit margin is to sign up with Forex trading robots. Credible and Dependable Forex trading robots are what every trader should sign up with. Make the right move and sign up with transparent Forex trading robots.

Finally, we wish you all the best in your Forex trading experience.

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4 Replies to “MegaCoinFX Review: Megacoinfx.com Askew Forex Scam”

  1. Megacoinfx Scam…
    I was approached by Megacoinfx…A friendly “Ben/jamin Adam/s” promised my that I could make big profits with Megacoinfx. I was ask to install Anydesc, and I invested my first €5000. Then I had to sign an “ Agency Agreement”. I saw my account grow, and asked for a refund. I didn’t get this because “Ben/jamin” had put €4000 in my account and this money was from the “Company”…I had to pay it back first. And than I could get a refund. So I deposited my last €4000, and had to sign the “Agency Agreement” again. Then I ask for a refund but without result. (My money went to banks in Hongary and Poland). When I ask “Benjamin” to do traders for my ( which I didn’t do myself) he was anonoyed and made my lose a lot of money. Hè told my…I had to leave it to him, because he knew about it, not me! The contact became less and less, and “Ben Adam” wasn’t so friendly either. He became friendly again when he introduced me to take out a loan. Megacoinfx perform forextrading without valid llicense data. They are not willing to allow withdrawals. They ask you to deposit more and more money with the promise that you will get money back. Don’t fall for the Beautiful w***s of “Ben/jamin Adam/s”…. every w*** is a lie….the are big scammers. The have the same platform as BestXtrade….

    1. Hallo, auch ich bin auf Ben „reingefallen“. Ich habe erst 250,- bei Jubiter wallet einbezahlt und dann über Ben nochmal 1.000,- seither habe ich nichts mehr gehört- niemand reagiert auf meine Mails und wo meine 1000,- Euro sind steht in den Sternen. Bin etwas verzweifelt. Hat jemand einen Tipp wie ich mein Geld zurück bekommen kann? Meine Bank arbeitet bereits daran da ich dies gleich gemeldet habe aufgrund eines plötzlichen schlechtem Bauchgefühl… aber bis dato erfolglos. Es muss doch einen Weg geben

      1. Hallo,

        Bitten Sie sie, Ihr Geld abzuheben. Wenn sie die Einzahlung von weiteren Geldern ablehnen oder darauf bestehen, müssen Sie eine Rückbuchung bei Ihrer Bank einreichen oder einen Streit mit PayPal gemäß der Zahlungsmethode eröffnen und den Fall dann der örtlichen Polizei melden.

        1. Danke für die Tipps! Alles bereits gemacht- Rückbuchung über die Bank wurde in weniger als 24 Stunden veranla**t- leider erfolglos da man nicht weiss auf welches Bankkonto in Portugal mein Geld gekommen ist. Die Bank in portugal erhâlt keine Antwort vom Kontoinhaber und hat den Fall “geschlossen”
          Nach mehrmaligem Telefonischen Kontakt mit Ben und Sean von Megacoinfx haben die beiden beide eine Rücküberweisung bestätigt. Alles heisse Luft. Dann plötzlich 3 Wochen nach Einzahlung scheint ein Betrag über 1.400 auf meinem Megacoinfx account auf, jedoch unter “bonus” es sollte aber ein deposit von 1.000,- einlangen. Alles sehr dubios! Withdrawal hab ich veranla**t- dieser ist nun “pending” also ausstehend und ich kann auch niemanden mehr erreichen. Auf Mails reagiert man dort sowieso nicht. Nur keine geschriebenen Spuren hinterla**en, diesen Eindruck habe ich leider. Bei der Polizei war ich bereits.

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