MegaTraderFX
We checked MegaTraderFX against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
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.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report MegaTraderFX.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.