About MegaTradeFX
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is MegaTradeFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Is MegaTradeFX a scam or legit broker?

No, it is not safe to trade with MegaTradeFX. MegaTradeFX is owned by Macro Projects Ltd. which is an offshore company registered in St. Vincent and the Grenadines.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CapitalXP, TraderUR and more.

According to the website, MegaTrade Fx is a leading provider of online foreign exchange trading, CFD trading and other financial services. However, we have a few valid concerns about it. The broker mentions two addresses on the website, they are both offshore (as the second one is on the Marshall Islands). They also mention contact numbers with the British phone codes, however, the broker is not regulated in the UK.

Moreover, the UK’s Financial Conduct Auhority has recently issued a warning against the broker:

“MegatradeFX (a trading style of Guide Universal LP) is not authorised by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorisation.”

Also, the company has been banned by Spain’s CNMV:

“MACRO PROJECTS LTD is not authorised to provide the investment services, which include investment advice, or to provide auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions; or to perform the activities reserved for collective investment institutions, on Collective Investment Institutions.”

We advise all investors and traders to avoid MegaTradeFX and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and Plus500.

Bill From United Kingdom | | Friday, September 13, 2019

I invested with MegaTradeFX and at first the support was good. helping me with trading and advice. I grew the account to a reasonable lever (£2k) and then tried to withdraw finds. from this point forward there was not contact. The account is still open and is still showing my amount but I have no way of withdrawing the funds. Stay away at all costs. Bill Cunnew

No news available.

2 responses to “MegaTradeFX”

  1. I invested with MegaTradeFX and at first the support was good. helping me with trading and advice. I grew the account to a reasonable lever (£2k) and then tried to withdraw finds. from this point forward there was not contact. The account is still open and is still showing my amount but I have no way of withdrawing the funds.

    Stay away at all costs.
    Bill Cunnew

Leave a Reply

Your email address will not be published. Required fields are marked *

* code