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Table of Contents
Megainvestco (megainvestco.com)
Conclusion
Taking the holes in its story into account, you will have no trouble in determining why Megainvestco is a bad option for anyone who wants a legitimate brokerage.
Broker Rating
0.1
Megainvestco (megainvestco.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Mega Investco scam works by getting you to believe you can become rich by trading with them.
Megainvestco Review – Why is it a Bad Option?
The sheer number of online brokers offering their services nowadays are enough to overwhelm anyone who is thinking of starting their trading journey. You want to tap into the lucrative opportunities in the financial markets and opening an account with a broker is necessary for this purpose.
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But, with so many brokers to choose from, it is natural to be confused. A company cannot be chosen at random because you have heard the horror stories of unprofessional and even fraudulent brokerages. So, what can you do? This is where this Megainvestco review can come in handy because it gives you a solution.
The reason most people are worried is because they do not know how to steer clear of the bad characters in the market. It is naïve to assume that scam brokers would come with some sort of warning about their true nature because they really don’t. As a matter of fact, they do their level best of actually concealing any hints of fraud and present a false front to fool people. This increases the likelihood of you falling into a trap, unless you know what makes a brokerage a bad option.
But, it is not just about knowing the aspects that show you are dealing with a shady or fraudulent company. It also means that you have to actively evaluate a brokerage to ensure it does not have any of these characteristics and can offer you a good trading experience.
If you are ready to do that, you can make the best choice and achieve your online trading goals. You should take this approach with Megainvestco as well, which has been designed to inspire trust amongst traders. How? This is because Megainvestco claims to be a regulated brokerage in two jurisdictions.
It offers you the opportunity to trade forex pairs, indices, energy and soft commodities, precious metals, shares and crypto coins with lucrative trading conditions. But, you need to read between the lines to figure out that Megainvestco is not a good option at all. Why? Here are the issues you will find.
Lying about regulation
First and foremost, you need to start your evaluation of any online brokerage with their regulation because this is the one feature that distinguishes between scam and legitimate companies straight off. A legitimate company will always be regulated because it has nothing to hide and wants to establish a good reputation, while a scam one cannot get regulated because it would expose their actual intentions.
However, you should be aware that there is a difference between being actually regulated and claiming to be regulated. You will find that Megainvestco falls in the latter category. It claims in its presentation to be regulated in Australia and the Bahamas.
The regulatory body of the former is the Australian Securities and Investment Commission (ASIC) and the latter is the Securities Commission of the Bahamas (SCB). When you check the online registers of these regulatory institutions to find Megainvestco in the list of brokers, the search will turn up empty.
This means that Megainvestco is outright lying about its regulatory status and no genuine company would ever commit such a blunder. It also means that there is no way for you to verify the address mentioned on its website, which puts the company in Sydney, Australia. Since you cannot confirm its credentials, it means that Megainvestco is an anonymous brokerage that you know nothing about and trusting such a company would be a big mistake.
Issues with the trading platform
The trading platform is one of the most vital features offered by every online broker because you cannot do any trading without it. If there is a problem with the trading platform, you will not be able to execute your trades, or use any of the trading tools required for making decisions.
The biggest attraction on the Megainvestco website is the offer of the MT4 and the MT5 trading platforms. All you have to do is Google and you will find that these are two of the topmost trading platforms in the market.
Therefore, the fact that Megainvestco is offering them will certainly add to the broker’s appeal, but you will discover the issues. First off, there is no MT5 available and only a link for downloading the MT4 is given on the website.
This proves half of the claim wrong. The second issue that you will encounter is that the MT4 platform available for download on the Megainvestco website is licensed to a completely different company altogether. It has absolutely nothing to with the brokerage and this does not help with its credibility at all.
It is because this indicates that Megainvestco is trying to steal the details of a licensed company and this only shows that it is not a genuine brokerage.
High leverage ratios
The leverage ratios that are offered at Megainvestco will also catch your eye because they are higher than the norm. But, how high? This is hard to determine because even Megainvestco itself is unsure of this. In one part of its presentation, it claims to have leverage ratios of 1:500 and in another they reach 1:1000.
No matter which ones are offered, these are just too risky and an ASIC-regulated brokerage would never offer such ratios because there is a cap of 1:30 applicable in the country. This means that Megainvestco is breaking the regulatory framework and this shows it is a bad option.
Lies about payment options
VISA, MasterCard, Neteller, POLi, Skrill, Neteller, FasaPay, BPay, bank wire transfers, PayPal, China UnionPay, Bitcoins and USDT Tether are all payment options advertised on the Megainvestco website. As impressive as they sound, the actual payment options that are given are Bitcoins and USDT Tether and bank wire transfers.
This is quite telling because none of these options come with the possibility of chargeback, which means once you deposit with Megainvestco, your money is gone and there can be no refunds.
Wrapping Up
Taking the holes in its story into account, you will have no trouble in determining why Megainvestco is a bad option for anyone who wants a legitimate brokerage.
