Auto Mega Option is a forex broker that was registered on its official website on November 4, 2022. It primarily offers contract for difference (CFD) trading services in forex, stocks, indices, metals, and commodities to investors. The broker's website mainly provides services in English and operates globally.
Company Background and Regulatory Status:
According to publicly available information on its website, Auto Mega Option is registered in Mauritius with the registered entity being Auto Mega Option Pty Ltd (MU). The company's registered address is Level 7 Office 12, ICONEBENE Lot B441, Rue de L’Institut Ebene, and it claims to be authorized and regulated by the Financial Services Commission (FSC) of Mauritius, with license number GB19024896.
Upon verification, it has been found that neither the Companies and Business Registration Division (CBRD) nor the Financial Services Commission (FSC) of Mauritius have any information regarding Auto Mega Option Pty Ltd (MU). Additionally, the registration number and license number mentioned on the broker's website appear to have been taken from GO Markets. In other words, Auto Mega Option does not have a registered entity, and it is not regulated. In fact, through the download link provided on its website, it is revealed that the server is provided by GO Markets Pty Ltd (Mauritius) rather than Auto Mega Option Pty Ltd (MU).
Account Opening:
To open an account with Auto Mega Option, you need to visit the "Open Account" section on their website's homepage. During registration, you will need to provide your name, personal email, phone number, nationality, and set a login password. Once you submit this information, your account will be created. After successful account creation, users are required to undergo KYC (Know Your Customer) verification by uploading identity verification documents and proof of address documents. These documents can be submitted via fax, scanning, or email. Only after the approval of these verification documents can you fund your account and start trading.
Account Types:
Auto Mega Option's website displays two different types of trading accounts: GO Plus+ Account and Standard Account. Both of these accounts offer a maximum trading leverage of 1:500 and support multiple base currencies such as the Australian Dollar, US Dollar, Euro, British Pound, New Zealand Dollar, Canadian Dollar, Singapore Dollar, Swiss Franc, etc. The GO Plus+ Account offers spreads starting from 0.0 pips and charges a $3 commission per side of the trade. The Standard Account offers spreads starting from 1.0 pip and does not charge a trading commission.
However, upon registering an account on the broker's website and logging in, it is discovered that they offer six different types of trading accounts: BEGINNER, STANDARD, GOLD, GOLD PLUS, DIAMOND, DIAMOND PLUS. Unfortunately, the broker does not provide information about the minimum deposit amounts, spreads, leverage, trading commissions, margin levels, stop-loss levels, minimum trade sizes, and other crucial trading details for these accounts.
Trading Platform:
Auto Mega Option provides users with the MT4 and MT5 trading platforms, including versions for Windows, Mac, Android, and iOS. However, clicking on the download links provided on their website reveals that the services are provided by GO Markets Pty Ltd (Mauritius) rather than Auto Mega Option Pty Ltd (MU).
Deposits and Withdrawals:
Auto Mega Option supports multiple deposit and withdrawal methods, including Mastercard, Visa, Skrill, Neteller, Bank/Wire Transfer, and Fasapay.
Customer Support:
Auto Mega Option only offers customer support through email at info@autoomegaoption.com or account@automegaoption.com.
Summary:
Traderknows warns investors that Auto Mega Option is a white-label website of GO Markets, lacking a registered entity and legitimate regulation. Most of the information on its website appears to have been copied from the official GO Markets website. Currently, this broker is marked as "suspected fraud" on Traderknows.
