megatradingsfx is a CFD brokerage website with its domain registered on November 1, 2023. This broker primarily offers investment services in markets such as forex, cryptocurrencies, indices, stocks, energy, and commodities. It does not provide services in countries and regions where it might violate local laws or regulations.
Company Registration and Regulatory Status
Public information on the megatradingsfx (megatradingsfx.com) official website reveals that the broker was founded in 2016 and is regulated by the Australian Securities and Investments Commission (ASIC). However, the broker has not disclosed the company's entity registration information or detailed regulatory information.
Upon investigation, the Australian Securities and Investments Commission (ASIC) could not find registration information for a company named “megatradingsfx” Additionally, the Financial Conduct Authority (FCA) in its investor alert on May 7, 2024, stated that megatradingsfx (megatradingsfx.com) is neither authorized nor regulated by the FCA.
Therefore, megatradingsfx (megatradingsfx.com) is essentially a scam brokerage website with no corporate entity and no regulatory oversight.
Account Opening Process
To open a trading account on megatradingsfx, visit the broker’s website, click “Open Account” on the homepage or “Sign Up” at the top right corner to go to the account registration page. Fill in the required personal information such as name and email address, set a login password, and submit. After verification, the account registration will be successful.
Investment Plans
megatradingsfx offers four different types of investment plans: STARTER ACCOUNT, CLASSIC ACCOUNT, PLATINUM, FOREX SIGNALS.
STARTER ACCOUNT:
- Minimum deposit: $500
- Minimum expected profit: $3,500
- Maximum expected profit: $5,000
- Trader education*
- Risk management
- Tax-free spread trading profits
CLASSIC ACCOUNT:
- Minimum deposit: $5,000
- Minimum expected profit: $45,000
- Maximum expected profit: $50,000
- Expert news and analysis
- Competitive spreads
- Advanced trading tools
- Tax-free spread trading profits
PLATINUM:
- Minimum deposit: $10,000
- Minimum expected profit: $99,999
- Full suite of benefits
- Trader education*
- Advanced risk management
- Tax-free spread trading profits
FOREX SIGNALS:
- Professional forex signals
- Up to 10 signals per day
- 95% success rate
- 24/7 support
- Advanced trading tools
- Bitcoin-only payments
- Use with any broker
Trading Platform
megatradingsfx offers a proprietary trading platform, claiming an average order execution speed of less than 7.12 milliseconds, more than a comprehensive liquidity provider, and over 12,000 orders executed per second.
Deposits and Withdrawals
megatradingsfx only supports deposits and withdrawals via cryptocurrency.
Conclusion:
Traderknows reminds investors that megatradingsfx is a fraudulent broker that lures investors with promises of high returns. In reality, it has no corporate entity or regulatory oversight, and the only contact method is through email. Investors are advised to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
