Megacix has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Tried to withdraw my funds from Megacix and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
If you are reading this considering Megacix - run. I wish I had read more negative reviews from a review site like this one. I thought the positive ones were real. Maybe some are. My experience over for the past year and a half has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Customizable dashboard|Intuitive for beginners
Cons: Mobile app could be improved|Limited demo account features
I was about to invest with Megacix but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Services and Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises
Where do I even begin with Megacix? since the beginning of the year of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Dedicated account manager|Good analytical tools|Easy withdrawals
Cons: No live chat on mobile
I had high hopes for Megacix through my accountant's suggestion, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Personal attention|Wide product range|Dedicated account manager
Cons: Email notifications too frequent
After for about five months with Megacix I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Comprehensive tools|Market news feed|Transparent fees|Good mobile app
Cons: Desktop app not available on Linux
The onboarding at Megacix was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Excellent charting|Competitive fees
Cons: Email notifications too frequent
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required