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MEGAFOXTRADE

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Operating status: SCAM

Website: https://www.megafoxtraders.com/

Broker violations and abnormal records
  • 2023-07-20 The UK FCA issued a warning against MEGAFOXTRADE

    On July 21, 2023, the Financial Conduct Authority (FCA) issued a warning against MEGAFOXTRADE, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/megafoxtrade

    On July 21, 2023, the Financial Conduct Authority (FCA) issued a warning against MEGAFOXTRADE, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/megafoxtrade
  • 2023-07-23 BrokersView has reviewed that MEGAFOXTRADE is an unregulated broker

    MEGAFOXTRADE falis to disclose its regulatory information and licensing data, which can be considered a scam indicator, as legitimate brokers always prominently display such information.

    Furthermore, the UK Financial Conduct Authority (FCA) has issued a warning against MEGAFOXTRADE for illegally providing financial services/products in the UK without their authorization.

    In essence, MEGAFOXTRADE is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    MEGAFOXTRADE falis to disclose its regulatory information and licensing data, which can be considered a scam indicator, as legitimate brokers always prominently display such information.Furthermore, the UK Financial Conduct Authority (FCA) has issued a warning against MEGAFOXTRADE for illegally providing financial services/products in the UK without their authorization.In essence, MEGAFOXTRADE is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

Greetings, does MEGAFOXTRADE offer services to UK customers?

Zaheer
United Kingdom
2023-07-31
ANSWER Given its fraudulent nature, we strongly suggest you drop the plan to engage with MEGAFOXTRADE, regardless of the regions it provides services to.It is a red flag that MEGAFOXTRADE fails to disclose its regulatory information and licensing data, as legitimate brokers always prominently display such information.Additionally, the UK Financial Conduct Authority (FCA) has issued a warning against MEGAFOXTRADE for illegally providing financial services/products in the UK without their authorization.In conclusion, MEGAFOXTRADE is an unlicensed broker coming with significant risks, such as financial losses and identity theft, as there are no rules in place to prevent fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like MEGAFOXTRADE and instead choose a fully regulated one.
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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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