Megacix Complaint Review

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Megacix calls itself a web based trading interface that offers retail traders a wide range of asset classes. From cryptocurrencies, commodities, indices, equities to forex, they apparently have them all.

While their pitch is exciting, there are a lot of concerns regarding management, terms and conditions and costs involved. In other words, there is no clarity and at the time of publishing this post, the official website is down. Glance over the following content to see the findings of our investigation.

Megacix Checklist

 

• Identify The Entity – Gather all of the details like company name, operating address and regulator behind the firm.
• Confirm Authorization – Always verify the details first hand and talk with a licensed financial adviser if needed.
• Read The Fine Print – Focus on every aspect of the brokerage from spreads, commissions, overnight financing, inactivity fees and withdrawal rules.
• Watch Out for Red Flags – If you notice anything that can be categorised as pressure sales, bonus traps or assured returns then immediately pull away.

 

Test Run

 

For any reason if you are fixated on the idea of proceeding with them, make sure to start with the smallest deposit possible. Test their platform, trading costs, spreads and slippage. If you find them satisfactory, then place a withdrawal to check if everything works smoothly.

Keep in mind that just because it worked well for a few times doesn’t necessarily mean that it will be the same in the future. Lastly, never invest or deposit more than what you can afford to lose.

 

Conclusion

 

Megacix likes to present itself as the perfect trading solution. However, the facts point South and without clear boundaries and terms, the risk outweighs the benefits by a huge margin.

Our advice is to avoid entities like this and report them if you have faced any financial damage. The more data we gather, the better it is for the authorities.