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Mega Trader FX Review and Tutorial 2021

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Facts & Figures

Mega Trader FX is a multi-asset broker offering 1:500 leverage and deposit bonuses.

Awards

N/A

Bonus 20% deposit bonus up to $2,000
Instruments Forex, CFDs, indices, precious metals, energies
Demo Account Yes
Min. Deposit $0
Pay Methods Neteller, Skrill, Visa
Min. Trade 0.01 lots
Regulated By CySEC
MetaTrader 4 Yes
MetaTrader 5 No
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading Yes
Social Trading No
Copy Trading No
Trade Signals No
Islamic Account Yes
CFD
FTSE Spread Variable
GBPUSD Spread 2.6
Oil Spread Variable
Stocks Spread N/A
Leverage 1:500
Forex

Online trading is available on major, minor and exotic FX pairs.

GBPUSD Spread 2.6
EURUSD Spread 1.9
EURGBP Spread 2.5
Assets 54
Risk Warning – Your capital is at risk

Mega Trader FX is a CySEC-managed online dealer. The grounded supplier offers MT4 exchanging forex, CFDs and valuable metals. Our audit covers installments, influence, exchanging expenses and grievances. Comprehend the advantages and disadvantages of opening a record with Mega Trader FX.

Mega Trader FX History

Mega Trader FX Ltd is a Cypriot venture firm claimed by Trading Point of Financial Instruments Ltd and set up in 2012. The financier is authorized by the Cyprus Securities and Exchange Commission (CySEC). 

Mega Trader FX offers a blend of exchanging instruments, 24/5 client care and free instructional classes for fledglings. The organization additionally provides trading rewards to tempt new customers and prize steadfast clients.

MetaTrader 4 Platform

MetaTrader 4 (MT4) is the foundation of decision at Mega Trader FX. An industry top choice, MT4 is a simple to-utilize, customizable stage that offers a considerable number of highlights and devices. After you log in, you’ll be given 9-time spans, 30 graphing alternatives, many pointers and continuous evaluating. 

The stage additionally upholds robotized exchanging through uniquely fabricated algorithmic systems, just as the alternative to utilize the strategies of other fruitful traders. 

To download MT4, complete the record enrollment cycle and hit the introduce connect on the intermediary’s site.

Assets

Mega Trader FX offers a sensible rundown of tradable items. 71 forex sets are accessible, including 7 majors, 21 minors and 26 exotics. Customers can likewise exchange prospects on energies, valuable metals and significant stock lists. 

Note digital currency exchanging and twofold alternatives are not accessible.

Spreads & Commission

Mega Trader FX follows a without commission expense structure. The merchant brings in its cash through spreads, which start at 1 pip on significant money sets. Average spreads, in any case, are 2.5 pips on the EUR/GBP, 1.9 pips for the EUR/USD and 2.6 pips for the GBP/USD. These aren’t the best spreads around, and thus, Mega Trader FX is a generally costly online specialist. 

Clients ought to likewise know standing firm on footings short-term will cause a charge.

Leverage

This audit was dazzled with the 1:500 influence accessible. These are high rates and permit amateurs to reinforce their likely benefit. On the disadvantage, utilized exchanging likewise builds the size of misfortunes. ESMA guidelines presently keep agents from offering influence above 1:30 to customers from Europe.

MT4 Mobile App

Mega Trader FX offers the MT4 versatile application to customers hoping to exchange in a hurry. Loaded with a large part of the usefulness of the work area stage, portable traders can look overworked in and custom markers, moment execution and future orders, in addition to 9 time periods. Store rewards are additionally accessible; thus also are hazard the board devices and message pop-ups. 

The MT4 versatile stage is accessible to download from the Apple App Store and Google Play. You’ll require your Mega Trader FX login subtleties to get to your record through the application.

Payment Methods

Different installment choices are accessible from the Mega Trader FX customer region.

Deposits

Users can fund live accounts with:

  • Payment cards (Visa, Visa Electron, Mastercard, Maestro, Switch, Solo) – up to 24 hours and free to use
  • Skrill – up to 24 hours with a fee of 1.9% + €0.29
  • Bank transfer – 1-3 working days and free to use
  • Neteller – up to 24 hours and free to use

Withdrawals

Profits can be withdrawn via:

  • Bank transfer – up to 3 working days
  • Payment cards – up to 1 day
  • Neteller – up to 1 day

This survey was dazzled with the generally quick withdrawal times and the zero expenses charged concerning the merchant.

Demo Account

Mega Trader FX offers an ultimately included demo account with $100,000 in virtual money and no expiry. If you’re uncertain about opening a record, the market test system is an excellent method to investigate the MT4 stage, test a technique and find new business sectors. You can likewise utilize the demo record to fabricate and test master counsels for computerized exchanging.

Mega Trader FX Bonuses

Mega Trader FX offers different rewards and promotions. A 20% welcome store reward of up to $2,000 is accessible. To guarantee a total of $2,000, clients need to store $10,000. The compensation is received 24 hours after the installment is made. Lamentably, the free exchanging capital can’t be removed. 

A 10% unwaveringness reward is then accessible on each ensuing store reward up to a limit of $1,000. The reliability reward is additionally dependent upon similar agreements as the sign-up offer.

Regulator

Mega Trader FX is directed by the Cyprus Securities and Exchange Commission (CySEC). This is an exceptionally regarded monetary organization and a decent sign that the specialist is protected from exchanging. The organization’s exchanging activities also fall under the EU Markets’ dispatch in Financial Instruments Directive (MiFID).

Additional Features

Different helpful additional items are offered to Mega Trader FX customers. Right off the bat, individual record chiefs are accessible to give coordinated preparation, a precious help for new traders. Likewise helpful for fledglings is the little assortment of articles clarifying exchanging rudiments, in addition to the glossary and FAQ entryway. 

Likewise, news stories and pattern outlines are distributed that cover market supposition, just as a financial schedule and a few pips, turn point and different mini-computers. 

Our audit was at first intrigued with the additional apparatuses offered to customers. Yet, we were disillusioned to see these highlights not staying up with the latest, restricting their worth.

Account Types

Three live exchanging accounts are accessible. All give MT4 access, meet all requirements for store rewards and accompany 24/5 client assistance. The distinctions lie in their base capital prerequisites, and the favourable spreads gave as a trade-off. Records can be opened in USD, EUR, GBP, AUD, CHF and JPY.

Micro Account

  • No base store 
  • Influence up to 1:500 
  • Spreads from 1 pip

Standard Account

  • $3,000 minimum deposit
  • Leverage up to 1:200
  • Spreads from 1 pip

Executive Account

  • $100,000 minimum deposit
  • Leverage up to 1:100
  • Spreads from 1 pip

Islamic well-disposed prerequisites can likewise be met by reaching client service utilizing the subtleties recorded further underneath.

Benefits

Reasons to open a Mega Trader FX account and start trading include:

  • Sign-up and loyalty deposit bonuses
  • MT4 trading platform
  • No minimum deposit
  • 1:500 leverage

Drawbacks

This audit discovered a few weaknesses to Mega Trader FX’s contribution: 

  • Assets are not stayed up with the latest 
  • No digital currency exchanging 
  • Restricted client care 
  • Wide spreads

Trading Hours

Mega Trader FX is open for forex exchanging 24/5, from 22:05 GMT on Sundays through to 22:00 GMT on Fridays. Different business sectors follow individual opening and shutting times, subtleties accessible on the agent’s site. While exchanging is restricted throughout the end of the week, account the executives and market investigation can, in any case, be embraced.

Customer Support

Mega Trader FX has a help group open 24/5. You can contact client care agents using: 

  • Live chat – Live Support tab at the top of the homepage
  • Email – support@megatraderfx.com

Regardless of offering phone support and a callback structure, we couldn’t break through to anybody after testing. This survey was baffled to discover help isn’t promptly accessible, which may debilitate new traders and disappoint existing record proprietors. It likewise implies that you need to erase your record or run into specialized issues if getting help might be testing.

Security

The security conventions followed by Mega Trader FX are not satisfactory. We couldn’t the site utilizes secure encryption measures, and we experienced some popups. This is a region we’d prefer to see the dealer address.

Mega Trader FX Verdict

Mega Trader FX is long-standing forex and CFD merchant. Offering the MT4 stage and various store rewards, it’s anything but a strong choice for traders looking. In any case, the client service is missing while at the same time exchanging apparatuses and instructive assets are not staying up with the latest. Thus, we’d suggest thinking about elective suppliers.

Accepted Countries

Mega Trader FX acknowledges traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most different nations. 

Traders can not utilize Mega Trader FX from the United States.

Alternatives to Mega Trader FX

On the off chance that you are searching for options in contrast to Mega Trader FX we have accumulated a rundown of the best 5 intermediaries that are like Mega Trader FX beneath. This rundown of intermediaries like Mega Trader FX is arranged by comparability and incorporates organizations that acknowledge traders from your area. 

  1. Hantec Markets – Hantec Markets is a multi-managed online FX specialist offering MT4 and custom-made help, giving colossal adaptability to suit any trader. 
  2. IronFX – IronFX offers web-based exchanging forex, stocks, fates, items and cryptographic forms of money 
  3. LQDFX – LQDFX offers web-based exchanging with various STP records and MT4 investigation devices. 
  4. ThinkMarkets – ThinkMarkets is multi-directed forex and CFD agent 
  5. Fortrade – Fortrade is a multi-resource agent offering an essential live record with cutting-edge apparatuses.

FAQ

Can you trade Bitcoin at Mega Trader FX?

No, digital currencies aren’t accessible at Mega Trader FX. All things being equal, customers can exchange on forex, products and stock records.

Is Mega Trader FX licensed?

Indeed, Mega Trader FX holds a permit with the CySEC, a generally regarded controller. This ought to console forthcoming traders that the dealer can be trusted.

Does Mega Trader FX offer a welcome bonus?

Indeed, new customers can pack a 20% store reward up to $2,000. Whenever you’ve enrolled for a record and put aside an installment, you’ll get the extra assets within 24 hours. Note, the reward can’t be removed.

Does Mega Trader FX offer a demo account?

Indeed, a limitless demo account is accessible at Mega Trader FX. Clients can investigate the MT4 stage, accessible business sectors and the dealer’s exchanging administrations.

Is Mega Trader FX a good broker?

Mega Trader FX has advantages and disadvantages. The representative gives admittance to the well-known MT4 stage and offers liberal store rewards and strong influence. Be that as it may, client service is untrustworthy, and the market investigation and instructive devices aren’t stayed up with the latest.

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