Mega Equity Review – Transparent Fees But Still Expensive

If you are looking for a reliable broker, you must understand all the benefits of regulated brokers. You should also learn the differences between different regulations.

All in all, depending on your country of residence, you will have different options. To find out which one suits you the most, find out through our tips in this honest Mega Equity review.

Legal Info: Is Mega Equity Legit?

Mega Equity is a company with a long pedigree. Since its founding in 1999, it has rapidly gained popularity in Cyprus. In 2000, the company entered the CSE (Cyprus Stock Exchange), and already in 2003, they obtained their CIF license (011/03). So far, the company has been operating without any warnings or black spots in its history.

Indeed, the company’s achievements are admirable. However, there are still a few irregularities. For instance, the company doesn’t have FCA, SEC, or CFTC licenses. Yet, it appears they offer services to users from the UK and the US. 

Even though the security features are similar, FCA-regulated brokers protect their clients with a compensation scheme of up to 85,000 GBP. In the case of Mega Equity, that’s only 20,000 EUR. To learn more about funds protection features, check our 5RF and European Capital Partners reviews.

What’s The Company’s Rating?

One of the interesting details about this company is the absence of Mega Equity reviews. Even though the company has been operating for a long time, few traders have shared their opinions about this firm. Consequently, we can’t say for sure where their traders come from. 

According to website analytics, it appears most of their users come from:

• Cyprus
• United Kingdom
• United States
• South Africa

What Services Does Mega Equity Brokerage Offers?

As can be seen, the company’s investment plans are mostly related to old-school investments. Fairly, that’s one of the best ways to invest in the long term. However, in this fast-paced world, many traders look for quick profit options. That’s where day trading comes into play. Luckily, with this firm, you’ll have it. 

On top of all, the company offers advisory and nominated advisory services. If none of these options suits you, there’s also AIF (Alternative Investment Fund) service available. 

Investment Products Available

When it comes to Mega Equity investment options, the company mainly focuses on Cypriot, Greek, and international assets. Surprisingly, these don’t cover commodities and Forex. At least the company doesn’t mention them. Instead, you can trade: 

• Bonds
• Greek and Cypriot Equities
• International Securities
• ETFs
• Greek derivatives 

Trading Commissions and Fees

A good thing about this brokerage is that Mega Equity login credentials are unnecessary when checking the costs. The company has a fully transparent list of all expected fees, commissions, and maintenance costs. Thus, to be fair, the list looks quite long. Therefore, these fees might be quite expensive if you are not investing a lot of money. 

For instance, the company charges 20 EUR only for the account opening. That’s for individuals. But the prices for companies are between 100 EUR and 150 EUR. At least, the commissions for brokerage services are a bit lower, up to 1%. Regarding bonds and stocks, maximum fees shouldn’t exceed 0.25%. 

What Are Online Trading Conditions?

We’ll have to rely on other sources since the precise details about online trading conditions have not been revealed. As can be seen, the company offers floating spreads from 0.1 pips and leverage of up to 1:400. Compared to some other top-tier regulated brokers; these conditions are not that attractive. So, you might rethink your choice of opening a Mega Equity account.

Can Traders Have a Trial Or a Demo Account?

With the company’s very unclear presentation about online trading, a demo account would be a more than necessary option, especially since they don’t mention any details about the trading platforms used. 

Considering Mega Equity regulation, we are hoping for MetaTrader. After all, it’s also a Cypriot company. In any case, a demo account is not in the offer with this broker. Apparently, the company’s minimum deposit to start is 500 EUR. With this in mind, a missing demo account is quite a big issue. 

Is There A Good Alternative?

Generally speaking, we can all speculate if some broker is good or not. Everybody can find pros and cons. In the end, it all comes down to personal preferences. 

Indeed, this company has rock-solid regulation and a reputation without flaws. Thus, if you are from the US or the UK, you surely have better options. 

However, with a very small number of reviews, we would suggest traders opt for more transparent options, especially if you don’t want to risk your money. In that case, you should opt for prop trading with companies like the UK’s Funded Trading Plus. 

The key benefit of prop trading with Funded Trading Plus is that there is no risk of losing money in the markets. Still, traders have great chances for good payouts through funded account programs. This UK-based company has more than 2,000 reviews on Trustpilot with amazing stories of successful traders. Make sure to join their amazing programs. Sign up with Funded Trading Plus already today. 

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