BrokersView
Search
Download
English
Sign In

MEGAFOXTRADE

Save

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.

2 comments

Arman Uddin Bashir
Today I am going to write about Megafoxtraders.com. Let's say that this website claims that they are a Legimat and Investment Company.I'm interested in cryptocurrencies and I'm added to Facebook's various cryptocurrency help groups.Then suddenly an woman named Brenden Sophia messaged me on Messenger and she told me about Megafoxtraders.com.At first I didn't believe it, and I wasn't surprised.But she influenced me in many ways and told me that you invest $50 and slowly solve your financial problems.I still didn't agree.After explaining it to me, I just took the risk and invested once and got a profit of $7, but the problem arose only when I went to withdraw my available balance, in no way I was able to withdraw.But whenever Brenden Shopia sends me a message saying that you knock on the helpline, you can withdraw the balance.Then I withdrew the balance and finally I was able to bring money to my wallet and I was not willing to invest anymore after I found out about this website by googling.But by that time, I had some faith in contacting Brenden Shopia, but I could not believe it completely.After telling Brendan Sopiha this over and over again, she told me one day you invest $50 and I'll give you the other $50.It is noteworthy that earlier the minimum balance of the investment was $50 and now it is $100.And then I invested $50. But when it comes time to invest in Brenden Shopia, he gives me a screenshot and tells me that I can't transfer money to your account.And then I realized I was in a trap.Then I wanted to withdraw my balance and I told Brenden Shopia about it.Brenden Shopia said the same thing to me on the helpline of Megafoxtrader.com.Then I'm a little bit sure the website is authorities Brenden Shopia.Since I had nothing else to do, I was forced to start investing under the Basic plan of Megafoxtrader.com.After investing twice, you will not be able to invest again.You can invest only 3 times under the Basic plan (now adding them to the FAQ), which is not written anywhere, and the Balance option is not written anywhere. I asked what to do, then you invest the remaining $50 and then withdraw a total of $100.And then I began to have doubts.Since I was a student, I needed money and I took another $50 from friends and invested it just to get the previous $50 investment.But then I was given the option to withdraw, and since then, Brendan Sophia has been regularly influencing me, saying, 'Dear my friend, I'll give you $500 and you manage the rest of the money.'Even if I had the money, I told him I couldn't raise $500 and said I could pay $200 maximum.Then she agreed and told me you manage your $200 fund and I'll give you the remaining $800.I then asked Brenden Sophia if you can't give me a transfer from your account (another thing I'll mention here is that the transfer option on Megafoxtrader.com is so called No Use and it is completely fake.Money can't be transferred from any account.I couldn't even transfer money to a friend's account) Then he told me I'll keep $800 cash for you.Then when I managed $200 and put it on Megafoxtrader.com, Brenden Sophia gave me a screen short where the conversation was with Brenden Sophia and her friend. Telling her friend to put $800 in my account and her friend's reply was that her father is very ill so she can't pay $800 and they have spent a total of $7000 on her father's illness.And then I apologize. Then she texted again, saying that a friend of his now agreed to pay $400 whether I would take it. If I don't, I'll have to arrange the rest of the money (meaning I'm tempted to arrange $400 more) because Megafoxtrader.com 's standard plan is $1000.Then I didn't agree at all because Brendhen Sophia is completely fake and Megafoxtrader. Megafoxtrader.com is owned by Brandhen Sophia.Be careful not to invest more than $1 in Megafoxtrader.com.They are Froud Vond Tout, Buttper.Beware of them and save your money.Learn from my $200 for the rest of your life. Another issue is that there is no YouTube channel on their website.Two days later,i inboxed their helpline and said that please help my to withdraw my available balance.then they said that i can't withdraw available balance but i transferred another account if i want to deposit previous deposit amount like 168$.
2024-06-03
Reply
Brokersview Official
Dear trader, we understand the distress and frustration this issue may have caused you. We kindly encourage you to submit a complaint on our platform at https://www.brokersview.com/. Our team will thoroughly review your materials and work diligently to help you find a possible solution.
2024-06-04
Reply
Rate and Review

Your review