megafxtraders

Note: For some unknown reason, we cannot open megafxtraders official site (https://megafxtrader.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

Megafxtrader presents itself as a binary options broker registered in the United Kingdom that claims to provide its clients with 75 tradable financial instruments with no spreads, as well as a choice of five different live account types.

As for regulation, it has been verified that Megafxtrader does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.19/10. Please be aware of the risk.

Market Instruments

Megafxtrader advertises that it is a binary options broker offering up to 75 trading instruments including Forex, Stocks, Indices, Commodities and Cryptocurrencies.

Account Types

Megafxtrader claims to offer five types of trading accounts - Bronze, Silver, Gold, Platinum and VIP, with minimum initial deposit requirements of $250, $1,000, $5,000, $25,000 and $100,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Spreads

Megafxtrader claims that the platform does not charge any spreads.

Deposit & Withdrawal

Megafxtrader says it supports a wide range of deposit and withdrawal methods which include Visa, MasterCard, Skrill, Neteller, WebMoney, Bank Transfer, QIWI, Bitcoin and Ethereum. The broker claim that the minimum deposit is $300, however, at the same time the Bronze account is advertising a deposit of $250. Depending on the account you have, they may “process” your first withdrawal free of charge.

Customer Support

megafxtraders customer support can be reached by telephone: +1 (269) 2244360, email: support@megafxtraders.com. Company address: 6 BRUSHFIELD STREET, LONDON, ENGLAND, E1 6AN.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.