Mega Invest Investment Group – Broker Review

Mega Invest Investment

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Swiss Financial Market Supervisory Authority has issued a warning against Mega Invest Investment Group in August 2023

Mega invest investment group is a broker that claims to offer a variety of trading services, including forex, stocks, commodities, indices, and cryptocurrencies. They also claim to have a user-friendly platform, low spreads, fast execution, and excellent customer support. But are they legit?

In this blog post, we will review Mega invest investment group and see if they are a trustworthy broker or a scam. We will look at their background, regulation, trading conditions, platform, fees, and customer reviews. We will also give you some tips on how to avoid falling victim to fraudulent brokers.

Background and regulation

Mega invest investment group was founded in 2018 and is based in St. Vincent and the Grenadines. They claim to be regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, but this is not a reliable regulator. The FSA does not have strict rules or oversight for forex brokers, and many scammers use this jurisdiction to operate without any accountability.

Therefore, we do not recommend trading with Mega invest investment group or any other broker that is registered in St. Vincent and the Grenadines. They are not authorized to offer financial services in most countries, and you will not have any protection or recourse if something goes wrong.

Trading conditions

Mega invest investment group offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, which is higher than the industry average. The leverage for all accounts is up to 1:400, which is very risky and can lead to significant losses.

The spreads for the Basic account are also very high, starting from 3 pips for the EUR/USD pair. The spreads for the other accounts are lower, but they require higher deposits and commissions. For example, the Platinum account requires a minimum deposit of $50,000 and charges a commission of $6 per lot.

The broker also offers a variety of trading instruments, but some of them are not available for all accounts. For instance, the Basic account does not have access to cryptocurrencies or indices. The broker does not provide any information about the trading hours, margin requirements, or swap rates for each instrument.

Platform

Mega invest investment group uses a web-based platform that does not require any download or installation. The platform has a simple and intuitive interface, but it lacks many advanced features and tools that are available on other platforms such as MetaTrader 4 or 5.

The platform does not support automated trading, custom indicators, or expert advisors. It also does not have a mobile app or a desktop version. The platform only offers basic charting tools, order types, and market news.

Fees

Mega invest investment group charges various fees that can affect your trading performance and profitability. Besides the high spreads and commissions that we mentioned earlier, the broker also charges withdrawal fees, inactivity fees, and conversion fees.

The withdrawal fees depend on the payment method and the amount of withdrawal. For example, if you withdraw less than $100 via wire transfer, you will be charged $50 as a fee. If you withdraw more than $100 via wire transfer, you will be charged 10% of the amount as a fee.

The inactivity fee is charged if you do not trade for more than 30 days. The fee is $80 per month and can increase up to $500 per month if you do not trade for more than 12 months.

The conversion fee is charged if you deposit or withdraw in a currency other than the one of your account. The fee is 10% of the amount converted.

Customer reviews

Mega invest investment group has very negative customer reviews on various websites and forums. Many customers complain about the broker’s poor service, high fees, false promises, and difficulty in withdrawing their funds.

Some customers also accuse the broker of being a scam and manipulating their trades. They claim that the broker uses aggressive sales tactics, fake testimonials, and misleading information to lure unsuspecting traders.

Conclusion

Mega invest investment group is not a legit broker but a scam. They are not regulated by any reputable authority and have very unfavorable trading conditions and fees. They also have a lot of negative feedback from customers who have been scammed by them.

We advise you to stay away from Mega invest investment group and any other broker that is registered in St. Vincent and the Grenadines. If you are looking for a reliable and trustworthy broker, you should check our list of recommended brokers that are regulated by reputable authorities such as the FCA or ASIC.

What to Do If You’ve Lost Money with Mega invest investment group?

If you have been scammed by Mega invest investment group or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.