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Home » Trading » Mega Markets

Mega Markets Review

Table Of Contents

Table Of Contents

Mega Markets Logo
🌐 Website megamarkets.com megamarkets.co
🏠 Company Mega Markets Management Ltd & Duo Range Limited
📌 Address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown Street, Saint Vincent and the Grenadines & 2 Frederick Street, Kings Cross, London, WC1X 0ND
☎️ Phone +442034554963 +447354010811 +447732882561 +442034554947
📧 Email support@megamarkets.com rickn@megamarkets.com info@megamarkets.co
⚖️ Regulation  Unregulated, Blacklisted, Offshore

Introduction

In the complex world of online trading, choosing a reliable broker is a pivotal step for investors. Some brands inspire confidence, while others raise more questions than they answer.

MegaMarkets falls into the latter category. Through an examination of their business practices, licensing, customer feedback, and more, this review will provide a comprehensive look at Mega Markets, a self-proclaimed online Forex & CFDs brokerage.

MegaMarkets Details

Mega Markets operates as an online trading broker and is owned by Mega Markets Management Ltd & Duo Range Limited. The company’s locations are at First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown Street, Saint Vincent and the Grenadines, as well as 2 Frederick Street, Kings Cross, London, WC1X 0ND.

If you need to contact Mega Markets, their support team is available via phone at the following numbers: +442034554963 and +447354010811. You can also reach them by email at support@megamarkets.com or rickn@megamarkets.com.

Mega Markets’ official website can be accessed at megamarkets.com.

Given the complex nature of online trading, it’s crucial to exercise caution and perform a thorough examination of Mega Markets or any other online trading platform before engaging, to ensure legitimacy and protect your investment.

To help you make an educated decision, consider checking out our in-depth reviews of two other companies we have recently examined: Winner S Trade and ZixFX.

The Brand’s Claim and Regulatory Concerns

Authorization Claims

MegaMarkets_disclaimer

MegaMarkets publicly states that they are “authorized in various jurisdictions around the world” and brands themselves as a reputable Forex & CFDs online brokerage. Despite these grand assertions, they have failed to provide any certificates or regulation numbers from regulatory bodies.

Location Misrepresentation

To further their legitimacy, MegaMarkets claims to be located in the United Kingdom, insisting that they offer Brokerage services in the region.

In reality, to operate in the United Kingdom, the company must hold a license from The Financial Conduct Authority (FCA). Adding to the concern, the FCA has issued a warning against Mega Markets.

MegaMarkets also asserts a presence in Saint Vincent and the Grenadines, an area notorious for scams. The Financial Services Authority (SVGFSA) in Saint Vincent has clearly stated that they do not regulate Forex activities, leaving any company operating within this territory without any legitimate oversight.

st_vincent_forex

Regulatory Warnings

Alarmingly, two regulatory bodies, the Financial Conduct Authority (FCA) in the United Kingdom and the Financial Services and Markets Authority (FSMA) in Belgium, have issued warnings against MegaMarkets.

MegaMarkets_FCA_warning

Trading with an unregulated broker is dangerous for various reasons, including:

  • Lack of Accountability: Without regulation, the broker is not held to any standard or ethical guideline.
  • Legal Risks: Investors may find themselves in complex legal battles without any assurance of justice.
  • Financial Loss: Funds may be unprotected, leading to devastating financial losses for the investor.

It is always safer to choose a regulated broker within the jurisdiction you live to avoid these significant risks.

Customer Feedback and Other Red Flags

Customer Reviews

The voice of actual customers often serves as an unfiltered window into a company’s real practices.

Many customer reviews on platforms like Trustpilot and Sitejabber reveal claims of being scammed by MegaMarkets, particularly when attempting to withdraw funds.

Unavailability of Website

At the time of this updated review, the website of MegaMarkets is not accessible, fueling suspicions of an exit scam followed by a rebranding with a new name.

This unavailability is not just a technical glitch or temporary downtime; it seems to be a deliberate disappearance from the online space.

Such behavior is characteristic of companies engaging in fraudulent activities, where, after gathering funds from unsuspecting clients, they abruptly shut down their existing platforms.

By doing so, they erase traces of their operations, making it difficult for authorities to track them down or for victims to seek legal remedies.

Conclusion

In the ever-expanding field of online trading, the credibility of the broker is paramount. Unfortunately, Mega Markets raises too many red flags to be considered a safe option.

From misleading claims of authorization to critical warnings from regulatory bodies and negative customer feedback, the evidence points to a high level of risk associated with this platform.

Investors would be wise to proceed with caution and consider alternative, regulated options.

Got Scammed by Mega Markets?

If you have lost money with Mega Markets, stay calm. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.

The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – can help you.

5 Simple Steps To Get A Chargeback From Mega Markets

Follow our straightforward guide to efficiently reclaim your lost funds from Mega Markets with minimal hassle.

  1. Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with Mega Markets and prepare for the consultation.
  2. Get A Free Consultation: Schedule a free consultation with MyChargeBack team of experts. During this consultation, they will assess your case and offer guidance on the best course of action to recover your lost funds from Mega Markets.
  3. In-Depth Case Analysis: As you proceed with MyChargeBack, their expert team conducts an in-depth analysis of your case, identifying the optimal chargeback strategy for fund recovery based on your unique circumstances.
  4. Recovery Process: Their team of specialists scrutinizes your case, collects evidence, and negotiates with the involved parties to expedite the recovery of your funds. MyChargeBack team will consistently communicate with you and your bank or card issuer during the chargeback process.
  5. Fee Payment: Upon successful recovery of your funds lost to Mega Markets, MyChargeBack charges a fee as a percentage of the reclaimed amount. If fund recovery is unsuccessful, no fees apply, except in exceptionally complex cases.

Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from Mega Markets with minimal inconvenience.

FAQs

Is MegaMarkets a regulated broker?

No, despite claims of being authorized, MegaMarkets has failed to provide any proof of regulation, and several authorities have issued warnings against them.

Why should I avoid trading with unregulated brokers?

Unregulated brokers pose risks such as lack of accountability, legal complications, and potential financial loss. It is always safer to choose a regulated broker in your jurisdiction.

What assets does MegaMarkets offer for trading?

They offer a range of assets including Forex, Shares, Metals, Indices, Energies, and Cryptocurrencies. However, caution is advised due to the platform’s questionable legitimacy.

Has the Financial Conduct Authority (FCA) issued a warning against MegaMarkets?

Yes, the FCA in the United Kingdom has issued a warning against MegaMarkets, adding to the concerns surrounding the platform.

Can I trust customer reviews about MegaMarkets?

Customer reviews on sites like Trustpilot and Sitejabber reveal numerous claims of being scammed by MegaMarkets, particularly regarding withdrawal issues. These voices reflect a pattern of dissatisfaction and should be taken into account.

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  1. Scammed around $15000, from approx December to February this year

  2. Horrible swindlers. Once I paid the $250, I was immediately told that I needed to invest more, much more. I never even got to see the trading platform and it’s impossible to contact them through their website. Then, they call you any time at night or during the day to convince you to throw more money into their scam. I repeatedly asked for a refund, but to no avail. Stay away and ignore.

    Never deal with swindlers like MegaMarkets who pretend they’ll help you invest money with Quantum AI. Don’t ever give your information to a website that pretends too set you up to trade with Quantum AI. Once you give your information, multiple scammers such as MegaMarkets will contact you and get you to pay $250, then they’ll explain that it’s not enough and that you have to poor in thousands. Stay away!