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MTFX -

Suspicious Clone

Score

1.55 /10

Danger

MTFX

Item: MTFX
Rating: 1.55

United Kingdom

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

http://www.megatraderforex.com

Influence

D

Add brokers

Comparison

Expose

Exposure

Time Machine

Website

Score

Regulatory Index0.00

Business Index7.30

Risk Management Index0.00

Software Index4.00

License Index0.00

Follow

Time Machine

Website

Licenses

CYSEC Suspicious Clone

Market Maker (MM)

VPS Standard

No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

Mega Trader FX Ltd.

Company Abbreviation

MTFX

Platform registered country and region

United Kingdom

Company website

http://www.megatraderforex.com

X

https://x.com/#!/MegaTraderFX

Facebook

https://www.facebook.com/pages/Mega-Trader-FX/141621459238090

Company summary

Pyramid scheme complaint

Expose

MTFX · 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.

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Warning: Low score, please stay away! 3

Previous Detection : 2025-05-01

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

The CyprusCYSEC regulation (license number: 120/10) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Overview

Biz Area

WikiFX Survey

Website

MT4/5

Genealogy

Clones

Keywords

Account

Time Machine

Platform Capital Ratio

--%

-- --

100%

--%

100%

Fundamental Item(A)
Total Supplementary Items(B)
Debt Amount(C)
Non-Fixed Capital(A)+(B)-(C)=(D)
Relative amount of risk(E)
Market Risk
Transaction Risk
Underlying Risk

Capital
$(USD)

MTFX · 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.

User Reviews

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User comment

3

Comments

Write a review

Teck Siang

more than one year

MTFX is a total scam platform. I lost a huge amount of money due to their unprofessional trade. Just stay away from them if you want to be safe...

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2023-02-21 14:18

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0

Darka

more than one year

The company offers multiple account options and flexible leverage levels to meet the needs of different populations. In addition, it offers the MT4 trading platform, which is very convenient and fast to use.

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2024-07-01 14:27

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0