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There isn’t any problem with calling your station a name, but there’s a couple of things to keep in mind. First of all make sure you don’t use a trademarked name. I wouldn’t use “monster” or “magic” for radio, there are others. It’s also a good idea not to identify yourself in a way that would grossly mislead listeners as to your location. If your station is in New York you wouldn’t want to imply that you are broadcasting from Chicago. That gets into rules about station identification that may or may not apply to part 15.