Trading Epic and MegatradeFX are not regulated

The Financial Conduct Authority has noticed two unregulated brokers that are breaking the laws.

MegatradeFX is a Forex broker which also allows its clients to trade contracts for difference on stocks, indices, commodities and bonds.

MegatradeFX is based in the Marshall Islands, however its phone number leads to the UK, so it obviously is targeting residents of Great Britain. But according to the FCA the broker is not authorized to do so, it is not regulated.

Trading Epic offers trading with bitcoin, commodities, stocks, currencies and bitcoin. The broker says it is based in the US, and regulated in the US, UK, Cyprus and Belize. However, it is not true.

Trading Epic is not regulated anywhere, certainly not in the UK, and that is why the FCA has warned against it.

For trading use regulated brokers.

Leave a Reply

Your email address will not be published. Required fields are marked *