IFSC and FCA Warn Against Trading Epic and MegaTradeFX

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IFSC and FCA Warn Against Trading Epic and MegaTradeFXThe FCA continues to add more unregulated brokers to its warning list. Some of the recently announced companies are the unlicensed forex brokers Trading Epic and MegaTradeFX.

The announcement was also shared by Belize's financial regulator, IFSC, which issued a cautionary notice regarding the brokerage firm Trading Epic.

A visit to the MegaTradeFX website reveals that it is a Forex and CFD broker, whose offer of services is not clear. It is claimed to be a trademark of Vital Resources LTD, a company registered in the Marshall Islands. Its website also mentions the name of another company, Guide Universal LP. None of these companies is entitled to provide financial services or advice to investors in the UK.

The other and most important company that the FCA and IFSC warns against is Trading Epic, which presents itself as a forex broker and claims to be based in the United States. It is regulated by the US Commodity Futures Trading Commission (CFTC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Board (FSB) in South Africa, and the International Financial Services Commission in Belize. Of course, none of this is true, and the broker didn't even mention the name of the parent company that operates it.

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