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MegaTraderFX

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Operating status: SCAM

Website: https://www.megatraderforex.com/

Broker violations and abnormal records
  • Dec 29, 2022 BrokersView has Reviewed that MegaTraderFX is an Unregulated Broker

    MegaTraderFX claims its brokerage services are provided by Trading Point of Financial Instruments Limited, an investment firm regulated by the Cyprus Securities and Exchange Commission (CySEC) under License Number 120/10. We indeed found a match result to Trading Point of Financial Instruments Limited in CySEC. But as per the regulatory details shown on CySEC, the approved domains of the firm includes "www.trading-point.com; www.xm.com; and www.pipaffiliates.com." That means MegaTraderFX actually has no connection with the licensed firm since the domain used by MegaTraderFX does not include in the approved domains. The truth is, MegaTraderFX is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.

    MegaTraderFX claims its brokerage services are provided by Trading Point of Financial Instruments Limited, an investment firm regulated by the Cyprus Securities and Exchange Commission (CySEC) under License Number 120/10. We indeed found a match result to Trading Point of Financial Instruments Limited in CySEC. But as per the regulatory details shown on CySEC, the approved domains of the firm includes "www.trading-point.com; www.xm.com; and www.pipaffiliates.com." That means MegaTraderFX actually has no connection with the licensed firm since the domain used by MegaTraderFX does not include in the approved domains. The truth is, MegaTraderFX is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

How can I withdraw??

Julia
Guam
Jan 05, 2023
ANSWER MegaTraderFX is not a regulated or licensed broker for traders even though it states offers that look good to be true.MegaTraderFX claims its brokerage services are provided by Trading Point of Financial Instruments Limited, an investment firm regulated by the Cyprus Securities and Exchange Commission (CySEC) under License Number 120/10. We indeed found a match result to Trading Point of Financial Instruments Limited in CySEC. But as per the regulatory details shown on CySEC, the approved domains of the firm includes "www.trading-point.com; www.xm.com; and www.pipaffiliates.com." That means MegaTraderFX actually has no connection with the licensed firm since the domain used by MegaTraderFX does not include in the approved domains. The truth is, MegaTraderFX is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like MegaTraderFX and trade with licensed brokers.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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