| General Information | |
|---|---|
| Broker Name: | Mega Markets |
| Broker Type: | Forex & CFDs |
| Country: | Estonia |
| Operating since year: | N/A |
| Regulation: | N/A |
| Address: | DUO RANGE LIMITED, 2 Frederick Street, Kings Cross, London, WC1X 0ND |
| Broker status: | Active |
| Customer Service | |
| Phone: | N/A |
| Email: | support@megamarkets.com |
| Languages: | English |
| Availability: | 24/5 |
| Trading | |
| The Trading platforms: | Proprietary |
| Trading platform Time zone: | N/A |
| Demo account: | No |
| Mobile trading: | Yes |
| Web-based trading: | Yes |
| Bonuses: | Yes |
| Other trading instruments: | Yes |
| Account | |
| Minimum deposit: | $250 |
| Maximal leverage: | 1:500 |
| Spread: | Floating From 0.0 Pips |
| Scalping allowed: | Yes |
Mega Markets is a modern brokerage that offers users trading services for various assets via CFDs. As such, it has a diverse library of trading materials and is able to draw in large audiences with various preferences. The broker has caught the attention of traders everywhere, so our Mega Markets review will inspect it closely.
And we need to tackle CFDs as a topic before we move on with our text. Namely, a lot of traders have the misconception that all CFDs are scams, or that they’re somehow predatory. And in our eyes, that reputation primarily draws from two sources.
The first is the number of scams that pose as real CFD brokerages. It’s a valid issue and one that needs attention. However, that doesn’t mean every company that offers CFD trading is a scam.
The other part comes from finance influencers and user recklessness. We’re talking about over-leveraging your trades. CFD brokers offer massive leverage rates, so it’s easy for their users to get carried away. Combined with get-rich-quick encouragement from influencers, that can make a deadly concoction. Losing thousands while you’ve only invested $50 feels like a scam but can simply be avoided with responsible practices.
Our point is that, while you should be slightly more careful around CFD brokerages, not all are scams. We’ll check out the broker’s security soon in our Mega Markets review, but let’s stick to the quality right now.
We need to emphasize that the broker has a highly-functional website that enables a fantastic experience for customers. It divests information well without missing out on important details or making it feel overwhelming. And, of course, the transitions and navigation are smooth, eliminating any possible frustration. Altogether, the first impression is great and has definitely made us eager to learn more.
Security is a significant concern for anyone getting into online trading. Even if you’ve been trading for a while, all it takes is one slip-up to lose thousands of dollars. And while scams are less numerous than they were, the ones that are still around have gotten more sly.
The core problem lies within the fact that learning how to spot scams is a separate process from learning how to trade. On top of that, trading education is easier to come by than anything other than the most general security tips. There are no detailed courses online on how to know if your broker is a scam.
So it comes down to guessing and experience. However, traders usually don’t switch brokers every day. They usually stay with a service until they find one that’s significantly better or the one they’re using drops in quality. So even traders with years of experience have usually used no more than two or three different online brokerages.
However, we’re here to help. An integral part of our Mega Markets review is determining the quality of its service. Of course, that includes its trustworthiness and the security conditions it provides.
And as we said earlier, it’s important to take a bit of extra caution with CFD brokers. However, even though we took a harsher stance when investigating megamarkets.com, the company had a fantastic showing. It’s technically sound and shows numerous trustworthiness factors that we look for in brokers.
There are two main components that increase Mega Markets’ trust rating. The first portion comes from the fact that the company operates from Estonia, which is a trusted location with strict financial regulations. The other comes from the broker’s general service and how it strives to keep users fully informed.
As we said earlier in our megamarkets.com review, the broker is a capable and versatile company. Of course, like with any broker, a large part of that flexibility comes from its accounts.
Different accounts usually serve the purpose of creating an environment where both low and high-end traders can thrive. Budget traders usually prioritize price and efficiency, while luxury traders just want the most bang for their buck. Obviously, the two ideas are incompatible, and if both get the same service, one side will be left wanting.
Mega Markets deals with that issue by structuring its accounts into budget-appropriate tiers. So users with less disposable cash can pick the cheaper options, while the other side can opt for the more expensive, feature-rich choices.
However, that doesn’t mean the budget accounts have too few functions or that the luxury accounts are too expensive. Namely, it’s apparent that the broker put significant focus on ensuring all the accounts were efficient for their price point. As such, you get much more than you otherwise would for the same money.
And the last sentence is a bit incorrect because you aren’t actually paying any money. How the accounts work is via a deposit requirement, which leaves all the money you use for trading. However, the broker can use the deposit to determine your risk profile and serve you offers accordingly.
The structure works brilliantly and improves the user experience across the board. Here are the account types at megamarkets.com, as well as what you can expect from them.
One thing we haven’t yet talked about in our Mega Markets review is its platform. We feel like it plays a large overall part in how the experience is shaped. It’s also a unique benefit for traders, no matter their skill or knowledge.
One fantastic detail about the platform is that it’s accessible. And we don’t mean that just in the way that newer traders can learn it easily. It also has modulation, so traders that are used to other platforms can switch quickly.
That eliminates the frustrating downtime most traders get in the period when they’re switching between two brokerages. That downtime can result in missed opportunities and overall degrades the customer experience.
Additionally, it’s important to note that the platform didn’t lose power because of its modularity. Namely, it remains analytically as potent, if not more, than other standard options on the market. You’ll be able to pull up multiple charts and cross-compare the findings to find the optimal trading route.
Altogether, we feel like the platform’s technical potency, as well as its comfort, outshine most competitors.
We feel like we’ve done a good job presenting the broker throughout our megamarkets.com review. It has a load of useful features and promises a streamlined and comfortable user experience. That way, you can keep your head cool and realize your trading capacity to the fullest.
It has a ton of neat properties that set it apart from the grain and treats customers well regardless of their deposit level. We feel like Mega Markets is going to grow to be one of the largest online brokerages, and it’s best to hop on the train early.
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