About the company
Mega Trader FX Ltd, created in 2012, is a Cypriot financial business controlled by the trading point of financial instruments Ltd. And regulated by CySEC. The company offers its clients a variety of instruments, as well as 24/7 customer assistance and free training sessions for beginners. The firm also has a lot of bonuses and promos to offer. A welcome incentive of 20% up to $2,000 is available. Users must invest $10,000 to obtain the entire $2,000 bonus. The bonus will be rewarded within 24 hours of your payment. Sadly, there is no way to withdraw free trading funds. Every successive deposit bonus is eligible for a 10% loyalty incentive, up to a maximum of $1,000. The same terms and conditions apply to the loyalty bonus as they do to the signup bonus.
There are 71 currency pairs to choose from. Energy futures, precious metals, and major stock indices are also available for trading. Please note that binary options and cryptocurrency trading are not available.
MT4 is a popular platform in the business because it is simple to use and extremely adaptable, with a wide range of features and capabilities. You’ll be presented with 9 timeframes, 30 chart options, dozens of indicators, and real-time pricing after logging in.
The MT4 mobile platform is also available for download on the Apple App Store and Google Play
Spreads and commissions
the firm operates on a commission-free basis. Instead, the broker makes money on spreads on significant currency pairs that start at 1 pip. The average spreads for EUR/GBP, EUR/USD, and GBP/USD are 2.5 pips, 1.9 pips, and 2.6 pips, respectively. Mega Trader FX is a relatively pricey online broker because its spreads aren’t the best.
The available leverage of 1:500 impressed the reviewers. These are high-stakes games that allow beginners to maximize their profits. although ESMA regulations prevent brokers from providing leverage to European clients greater than 1:30.
There is a fully working demo account with $100,000 in virtual cash that isn’t subject to expiration. If you’re still on the fence about registering an account, the Market Simulator is an excellent way to get a feel for the MT4 platform, test your strategy, and learn about new markets. A demo account can also be used to construct and test automated trading advisers.
Users can fund real accounts using:
- Payment cards (Visa, Visa Electron, Mastercard, Maestro, Switch, Solo) – up to 24 hours
- Skrill – up to 24 hours with a commission of 1.9% + 0.29 euros.
- Bank transfer – 1-3 working days and free of charge
- Neteller – up to 24 hours and free to use
Profit can be withdrawn through:
- Bank transfer – up to 3 working days
- Payment cards – up to 1 day
- Neteller – up to 1 day
Clients can choose from a variety of beneficial add-ons. A small collection of articles describing the basics of trading, as well as a glossary and FAQ portal, would be helpful to newcomers.
News stories and trend charts indicating market sentiment, as well as an economic calendar and various points, pivot points, and other calculators, are also available.
Mega Trader FX Trading Hours
Mega Trader FX is open for Forex trading 24/5, from 22:05 GMT on Sundays to 22:00 GMT on Fridays. Other markets have corresponding opening and closing hours, which are available on the broker’s website.
Mega Trader FX support service is available 24/7. You can contact support representatives through:
- Live Chat – Live Support tab at the top of the main page.
- Email — email@example.com
The security protocols followed by Mega Trader FX are not clear. We were unable to verify that the website was using secure encryption measures and we experienced some pop-ups. This is the area where we would like to see the broker’s address.