MegaTrade Fx is a platform that markets itself as the best online trading provider in the industry. The company claims that they handle CFD, Digital currencies, Forex, and other financial services.
The company is, however, a pyramid scheme that you should evade at all costs. The fraudulent scheme state that their main aim is to provide their clients with the best experience. They credit their highest performance to their team as well as the cutting edge technology.
The platform has four investment plant that has ridiculous earning. The more amount you deposit, the higher the return that you will attain. It is only newbies who would fall for the empty promises of MegaTrade Fx.
The company brag they have the most excellent team in the market, tools, and education services. Additionally, they allegedly have a user-friendly platform. Unfortunately, all these claims are false as the company has managed to scam a large number of investors their money.
Megatradefx.com provide a wide range of assets for their victims. They do not have the popular MT4 trading platform. Investors can only trade on a web-based platform.
The company offer leverage of 1:200; additionally, the platform grants a spread of 3.7 on EUR/USD. What the platform is promising is way too huge, the higher the leverage the risky it gets for clients.
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The demo account of MegaTrade Fx overestimates figures to lure clients into depositing funds in their system. Nonetheless, avoid being scammed as the figures that you will attain are not the same that will be in real trading.
There are better Forex brokerage entities in the industry that will never compromise your earning. The company does not offer users the safety of funds as they have not provided their banking information.
The team that the company brag of has no performance report, neither has the company bothered to disclose who they are. Legit investment companies will let you know who is handling your money and the credentials they have.
Moreover, there is no information regarding the owner of Mega Trade Fx. You can’t help to wonder why all this form of discreet. The company owe investors’ transparency; without it, no one should give them the benefit of the doubt.
MegaTrade Fx is an offshore platform that is operating illegally. The company state that its parent name is Vital Resources LTD which is allegedly registered in Marshall Island.
For a company to run legally, it needs to be licensed by various financial regulatory bodies in the industry. The scam firm collects money from clients across the globe.
Marshall Island is popularly known as a lenient place when it comes to registering investment companies. Many scammers find the area favourable as one does not require to be physically absent to register a firm.
However, the FCA, which is the financial watchdog of the UK, has issued a warning regarding MegaTrade Fx. The platform is therefore termed as a scam that will only leave you high, and dry.
The platform is not regulated in Pacific, Europe or Asian; hence one they exit the market the government cannot help you in recovering the money as they are also operating anonymously.
The platform brags that it has the best customer support services in the market. MegaTrade Fx offer support via email; [email protected] or via telephone number +442038071143. Unfortunately, the support will only contact you when they need more money.
The salesperson of MegaTrade Fx are very friendly, and perpetually call their client. Sadly, when you do as they advise, they will cut all communication, and you will never hear from them again.
The company office is allegedly based at Trust Company Complex, Ajeltake Road, Aljeltake Island, Majuro, Marshall Island. There is a high possibility this is not the actual location of this scam firm. It is the norm of pyramid schemes to provide false information.
The company accept funds via Credit/Debit card, Neteller, Bank wire transfers, Skrill, Fasapay and others. Despite the platform high rewarding program, the withdrawal method is pretty unfavourable.
The least amount that you can withdraw from their platform is &50. The minimal amount that you can deposit is $250. Legit brokerage companies are offering better terms to their clients that this pyramid scheme.
If you are not sure of the activities of a program, it will be better if you only deposit a minimum amount. Additionally, try withdrawing to be aware if there are any hidden charges.
You also need to test the speed of withdrawal. If you encounter delays, it would be better if you keep off the fraudulent company.
The platform claim that they have the finest security measures. However, this is not true as they are prone to attacks. The company does not provide any banking information to its members.
There is a very high possibility that deposits are being made directly into the accounts of these greedy scammers’. You need to know where your investment company is safekeeping funds. Additionally, hackers can attack the platform. The company may encounter bankruptcy without the knowledge of their clients or even worst they will steal your cash.
MegaTrade Fx has multiple negative reviews coming from those that had already invested with them. They have scammed a lot of people in the past few months. MegaTrade Fx will steal up to the last penny that you invest.
There is no method of recovering the money back. The account managers have been accused of asking for three times deposits from the investors for them to be able to get their money back. The company is complete extortion.
Clients can view their balance in the dashboard, but they cannot withdraw. MegaTrade Fx has a policy that does not favour any of its users. The liquidity that the client offer is way too vast and not even a single investor has been able to withdrawal any decent earning.
The company is a Scam as the FCA has already blacklisted them. It is enough red flag that should keep you off their activities.
The leverage that the platform is also offering is way too vast, not even close to what the best Forex companies in the industry are promising. The platform has a demo account that displays a ridiculous spread of 3.7 pips.
However, when you start trading the marvellous returns that the demo project is not what you will receive. Mega Trade Fx is not the best choice, and staying away would help.
Megatradefx.com is a platform that has been in the market for a while. According to Whois.com, the company was registered in July 2017, and the domain will expire in the same month the year 2020. They have very minimal traffic and engagement as they rank at 8,925,040 from Alexa global ranking. Moreover, the information regarding the owner of this company is hidden from the public.
You must stick to platforms that have been regulated by CySec, FCA, and other bodies to avoid falling a victim of this scammers. The platform has numerous red flags that clients should turn a blind eye on.
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