Mega Crypto Trade Review
The broker Mega Crypto Trade claims to offer a custom-built trading platform for the trade of foreign exchange pairs, cryptocurrencies and other CFDs. It also claims to provide an opportunity to mine Bitcoins. The broker’s offerings also contain many Investment Plans with higher returns. It also acts as a Market Maker and offers to trade on behalf of traders. Total of four trading account types is provided. All of the claims look tempting, however, traders must read this review first. In this Mega Crypto Trade review, we will talk about broker’s regulation and other problematic aspects. Let’s begin.
About Mega Crypto Trade:
To prepare equitable and fair review we must consider all the possible benefits and advantages of Mega Crypto Trade. Unfortunately, we could not share any advantages of this broker with you.
The following section will discuss disadvantages of this broker. The presentation of Mega Crypto Trade lead us to believe that the broker is operational from Netherland and headquarter is in London. Also, an Australian postal address and US based telephone number is shared on the official website. Sadly, the broker does not share any information about its corporate structure and regulation. It means we are dealing with an unregulated scam broker. The broker further offers to manage client’s accounts and wants to act as a Market Maker. Market Makers are nothing but the brokers that trades on the behalf of their customers, gaining profit from the customers losses. Also, market maker urges to grant access to the customer’s bank details, so they can withdraw any amount of money at any time without customer’s permission. It is a serious offence and worrying fact. We could not find any real trading platform provided by this broker. Instead, it provides basic dashboard and the charts available on that dashboard are directly provided by and independent financial data provider TradingView. However, the company TradingView does not have any relationship with Mega Crypto Trade. The broker does not want to share information about trading conditions provided. Also, the minimum deposit of US dollar 500 is above the market average. Nevertheless, the official website of the broker does not contain term and conditions section.
Is Mega Crypto Trade scam or legit?
The broker’s corporate status is confusing and mysterious. It does not mention about any regulation. Furthermore, the initial investment of dollar 500 is high and MetaTrader is absent. Trading conditions are unclear. Therefore, we call Mega Crypto Trade a potential scam cryptocurrency broker.