Basic Information
Registered Region 
United Kingdom
United KingdomOperating Period
5-10 years
Company Name
Mega Trader FX Ltd.
Customer Service Email Address
support@megatraderfx.com
Company Website
Global Broker Regulation Inquiry App
WikiFX
Unverified
Score
0
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9
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0
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9
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1
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9
/10
MTFX
United Kingdom
|
5-10 years
|
Suspicious Regulatory License
|
Suspicious Scope of Business
|
High potential risk
http://www.megatraderforex.com
Website
Rating Index
Contact
support@megatraderfx.com
http://www.megatraderforex.com
https://www.facebook.com/pages/Mega-Trader-FX/141621459238090
https://x.com/#!/MegaTraderFX
LicensesLicensed Entity：Trading Point of Financial Instruments Ltd
License No. 120/10
Warning: Low score, please stay away!
- It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!
3
Account
Website
Company Summary
Wiki Q&A
Comment
Account
- Environment--
- Currency--
- Maximum Leverage1:100
- SupportedEA
- Minimum DepositUSD 100,000
- Minimum SpreadAs low as 1
- Depositing Method--
- Withdrawal Method--
- Minimum Position--
- CommissionNo
- Products--
Updated：
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94.46.244.230Server LocationICP registration--Most visited countries/areas--Domain Effective Date--Website--Company--
Company Summary
| MTFXReview Summary | |
| Founded | 2011 |
| Registered Country/Region | UK |
| Regulation | CYSEC (Suspicious Clone) |
| Market Instruments | Currencies, CFDs, metals, stocks, indices |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 1 pips |
| Trading Platform | MT4, MTFX APP |
| Minimum Deposit | $0 |
| Bonus | ✅ |
| Customer Support | 24/5 support, live chat |
| Email: support@megatraderfx.com | |
| Social media: Twitter, Facebook | |
| Regional Restrictions | US |
MTFX was registered in 2011 in the UK, specializing in currencies, CFDs, metals, stocks, and indices markets. It offers three types of accounts, among which the Micro Account does not require minimum deposit and the maximum leverage can be 1:500. Bonuses and demo accounts are also offered. However, it holds a suspicious clone license, and it does not provide services to US residents.
Pros and Cons
| Pros | Cons |
| Low minimum deposit | Suspicious clone license |
| Tight spreads | Regional restrictions |
| MT4 supported | |
| Demo account and Islamic account | |
| No commission fees | |
| Promotion and bonus offered | |
| Long operation time |
Is MTFX Legit?
No, MTFX holds a suspicious clone license. Traders should be cautious and be aware of the potential risks!
| Regulated Authority | Current Status | Regulated Country | License Type | License No. |
| Cyprus Securities and Exchange Commission (CYSEC) | Suspicious Clone | Cyprus | Market Maker (MM) | 120/10 |
What Can I Trade on MTFX?
MTFX provides several types of products, including currencies, CFDs, metals, stocks, and indices.
| Tradable Instruments | Supported |
| Currencies | ✔ |
| CFDs | ✔ |
| Metals | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Cryptos | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type & Fees
MTFX provides three types of accounts: Micro, Standard, Executive Account. Besides, demo accounts and Islamic accounts are also available. More importantly, it does not charge any commission fees.
| Account Type | Minimum Deposit | Maximum Leverage | Spread | Commission | Deposit Currencies |
| Micro | ❌ | 1:500 | From 1 pips | ❌ | USD, EUR, GBP, JPY, CHF, AUD |
| Standard | $3,000 | 1:200 | ❌ | ||
| Executive | $100,000 | 1:100 | ❌ |
Leverage
The leverage ranges from 1:1 to 1:500. Traders need to consider carefully before investing, since high leverage is likely to bring high potential risks.
Trading Platform
MTFX uses MT4 and mobile APP as its trading platforms. MT4 is a commonly used platform, which is suitable for beginners. Its mobile trading APP can be used on iPhone, Blackberry, and Android devices.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | PC, web, mobile, mac | Beginners |
| MTFX APP | ✔ | Mobile (iPhone, Blackberry, Android) | / |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
MTFX supports several types of payment options, such as VISA, Neteller, Mastercard and so on. However, other details such as the processing time and minimum withdrawal are not clear.
Bonus
MTFX offers two types of bonuses: 20% welcome bonus and 10% loyalty bonus. As long as traders open a new account, they can receive the welcome bonus. As to the loyalty bonus, it can be applied to all redeposits.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
Wiki Q&A
Chris hagerman 
1-2 years
Do I have to pay commissions on MTFX?
No, during my trades on MTFX’s Micro, Standard, and Executive accounts, I didn’t pay any commissions. This is a plus for my short-term trading style because it keeps my costs lower.
Broker Issues
Fees and Spreads
07-18
United States
Nali5689
1-2 years
Which payment methods can I personally use on MTFX?
I saw that it supports VISA, Mastercard, and Neteller. I usually use VISA for deposits, and it was fairly quick. However, MTFX doesn’t clearly state the processing time for withdrawals, which is something I’m careful about.
Broker Issues
Deposit
Withdrawal
07-09
United States
Thanh Thao
1-2 years
Which trading platforms do I personally use with MTFX?
MTFX supports MT4 and its own mobile app. I prefer using mtfx mt4 on my PC for chart analysis, and when I’m on the go, I check and manage my trades on the app from my iPhone — both work stably for me.
Broker Issues
Platform
Account
Instruments
Leverage
06-11
United States
webgalaxy
1-2 years
Is MTFX safe and legit for me to trade with?
Honestly, when people ask me is mtfx legit, I can’t say it’s fully safe. Even though it has been around since 2011, trading under an Unverified CYSEC license means I have to be cautious. I wouldn’t put a large amount of money here without more trust signals.
Broker Issues
Regulation
05-28
United States
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