Mega Trader FX-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION:

Mega Trader FX is a CySEC-regulated online broker. Mega Trader FX Ltd is a Cypriot investment firm owned by Trading Point of Financial Instruments Ltd and established in 2012. The brokerage is licensed by the Cyprus Securities and Exchange Commission (CySEC).

Mega Trader FX offers a mix of trading instruments, 24/5 customer support and free training courses for beginners. The company also offers trading bonuses to entice new clients and reward loyal users

REGULATORY INFROMATION: LICENSE

Mega Trader Fx was regulated by the Cyprus Securities and Exchange Commission (CySEC) with the regulatory license number of 120/10.

MARKETS

Mega Trader FX offers a reasonable list of tradable products. 71 forex pairs are available, including 7 majors, 21 minors and 26 exotics. Clients can also trade futures on energies, precious metals and major stock indices

SPREADS & COMMISSION

Mega Trader FX follows a commission-free fee structure. Instead, the broker makes its money through spreads, which start at 1 pip on major currency pairs. Average spreads, however, are 2.5 pips on the EUR/GBP, 1.9 pips for the EUR/USD and 2.6 pips for the GBP/USD.

LEVERAGE

This review was impressed with the 1:500 leverage available.

ACCOUNT TYPES

Three live trading accounts are available. All provide MT4 access, qualify for deposit bonuses and come with 24/5 customer support. The differences lie in their minimum capital requirements and the favorable spreads offered in return. Accounts can be opened in USD, EUR, GBP, AUD, CHF and JPY.

Micro Account

· No minimum deposit

· Leverage up to 1:500

· Spreads from 1 pip

Standard Account

· $3,000 minimum deposit

· Leverage up to 1:200

· Spreads from 1 pip

Executive Account

· $100,000 minimum deposit

· Leverage up to 1:100

· Spreads from 1 pip

Islamic friendly requirements can also be met by contacting customer support using the details listed further below.

PAYMENT METHODS

Multiple payment options are available from the Mega Trader FX client area.

Deposits

Users can fund live accounts with:

· Payment cards (Visa, Visa Electron, Mastercard, Maestro, Switch, Solo) – up to 24 hours and free to use

· Skrill – up to 24 hours with a fee of 1.9% + €0.29

· Bank transfer – 1-3 working days and free to use

· Neteller – up to 24 hours and free to use

Withdrawals

Profits can be withdrawn via:

· Bank transfer – up to 3 working days

· Payment cards – up to 1 day

· Neteller – up to 1 day

DEMO ACCOUNT

Mega Trader FX offers a fully-featured demo account with $100,000 in virtual cash and no expiry.

TRADING PLATFORMS

· MetaTrader 4

TRADING HOURS

Mega Trader FX is open for forex trading 24/5, from 22:05 GMT on Sundays through to 22:00 GMT on Fridays.

CUSTOMER SUPPORT

Mega Trader FX has a support team open 24/5. You can contact customer service representatives via:

· Live chat – Live Support tab at the top of the homepage

· Email – support@megatraderfx.com

ACCEPTED COUNTRIES

Mega Trader FX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use Mega Trader FX from United States