General Features, Location and Regulation of Megatrader FX
Note: Megatrader fx broker has been redirecting to XM.com broker since 2017.
Reviewed Broker:Mega Trader FX
Regulation: Mega Trader FX is an Introducing Broker of XM.com , a Cyprus Investment Firm regulated by the Cyprus Securities and Exchange Commission (CySEC) and Registered with FSA UK
Trading instruments: Invest and trade in currencies, commodities, metals and stock indices in a safe and secure environment.
Security of funds: Client funds are maintained in client accounts with European Banks. This means that client money is held separately from company funds and cannot be used by Mega Trader FX except for client dealing purposes. Coupled with the ‘No Negative Balances’ your risk is only limited to the funds you have deposited. This unique, automatic margin liquidation policy eliminates concerns about debit balances by guaranteeing that you will never owe more than what you have in your account.
Trading Platforms and Account Types
Account types: You can open a Real money or hone your skills and learn the system by opening one of the Free Unlimited Forex Demo Accounts. There are multiple account types available including Micro, Standard and Executive account types to best suit your level of forex trading including no minimum deposit for Micro accounts.
Currency pairs: You will have access to over 70 tradable currency pairs and precious metals and more than 70 currency instruments and CFD’s including Gold, Oil and stock indices from a single trading account.
Demo account: Open a Free $100,000 Demo Account for a risk-free forex trading experience.
Trading Platform: The free to download trading platforms deliver instant access to the global Forex trade from the comfort of your own home, office or on the go, making Forex trading available online wherever you are in the world.
Mega Trader FX takes all necessary steps to obtain the best possible results for our clients when executing their trading orders, with all orders being executed automatically without any dealer intervention.
Spreads: In addition Mega Trader FX does not charge any commissions or other hidden fees on your trades and has spreads as low as 1 pip in all major Currencies. They also have 5 decimal points (3 for pairs where JPY is the counter currency) on currency pairs for tighter spreads and more accurate quoting.
Clients can open positions in the same instrument in opposite directions, without the positions offsetting and without using additional margin. Clients have complete control over whether they close or hedge their positions to reduce risk.
Maximum leverage: Mega Trader FX offering you leverage up to 1:500 you will have maximum flexibility in your forex trading.
Payment methods for Deposit and Withdrawal of MetaTrader FX
Minimum deposit requirement: $5
Deposit and withdrawal payment methods: Wire Transfer, Neteller, Credit Card, Skrill
Customer Support and Educational Resources for Traders
Customer Support: support team is available 24 hours a day from Sunday to Friday and offers a personal service to help all traders understand the foreign currency trading market, review their Forex investment goals and determine how to make the most out of the Forex market.
Mega Trader FX also offers Personalized Customer Service 24 hours a day for technical support and dealing support through online Live Chat, Telephone and e-mail. Each client receives personal attention from an Account Manager, and the dealing room services are also offered to you by professional dealers.
You will also receive one to one live training for your personal Account Manager who will guide you in your first trading steps to help you get acquainted with our trading platforms and answer all your questions. They will also be able to guide you through the multiple deposit options including Credit Cards, PayPal and Bank wire. You can start trading, regardless of banking work days or hours and you can deposit or withdraw profits anytime day or night.
Break down of benefits available at Mega Trader FX:
- No Commission & No Hidden Fees
- Low Spreads
- Fractional Pricing
- Hedging Capability
- Flexible Leverage
- Integrated Live News Feed and Market Analysis
- Multiple Account Types
- Over 70 tradable currency pairs and precious metals
- Safety of Funds
- No negative Balances – Limited Risk
- European Union Based – No capital gains tax on foreign exchange profits
- Free Unlimited Forex Demo Accounts
- Interest Free/Swap Free Islamic Accounts
- Phone Dealing
- Personalized Customer Service
- One-to-one Live Training
- Multiple Deposit Options – Fast Withdrawals
Mega Trader FX Promotions
Once you open a real account with Mega Trader FX, you will receive a 20% Free Forex Bonus on your first deposit. This bonus can be used for trading purposes subject to the terms described below and is distinct from our Forex Loyalty Bonus.
How to receive the 20% Bonus:
1. By opening any type of real account your account will qualify to receive your free Forex Bonus.
2. Deposit funds in your account. The cash bonus is equal to 20% of the amount deposited. For example if the first deposit is USD 5,000 then the cash bonus will be 20% x 5,000 = USD 1,000. The maximum bonus is USD 2,000. Within 24 working hours after the first deposit is made, the bonus will be credited to your trading account and may be used for trading. For non-USD accounts, the Bonus will be credited to the trading account in the currency of the account in question.
As a result of our ongoing efforts to increase client satisfaction, Mega Trader FX is happy to announce that with every subsequent deposit made (any deposit after your initial deposit) we will be crediting our clients with a 10% Loyalty Bonus! That is a 10% Bonus on every single deposit.
The 10% Bonus is intended for trading purposes and will enable clients to support their positions for a longer period as well as give clients the option to trade a larger volume.
As we at Mega Trader FX recognize that the key to success lies within the ongoing satisfaction of our existing clientele, we are constantly thinking of ways to better satisfy our loyal existing clients. We aim to build a long lasting relation with our clients and as such recognize the importance of keeping our existing clients satisfied as well as our new clients.
Rolex Trader Competition
We will be running a competition for all Real Accounts beginning on September 1st and running for three months, ending on December 1st. The winner will be the trader with the most closed lots during this period and will win a Rolex Watch.
1. Rolex Trading Period:
The competition will begin on the 1st of September and will be ongoing for three months, ending 1st of December.
2. Entry Requirements:
All existing customers trading with Mega Trader FX are welcome to participate. Real accounts created during the competition period will be automatically included in the Rolex Trading competition.
3. Judgment of Winner:
All participants will be competing for a brand new Rolex Watch. The competition will be based on trading with one winner. The first Rolex Trader with the highest number of closed lots will be determined the winner and receive the Rolex Watch.
How was the rating of Megatraderfx performed compared to other brokers?
This 2019 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Megatrader FX broker performance and features.
Overall our online Megatrader fx review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Megatrader or you find inaccurate details Megatrader FX broker review please get in touch with us and the changes will be applied.