The United Kingdom’s Financial Conduct Authority has issued a warning against Global Stackfx in October 2023
If you are looking for a reliable and trustworthy online broker, you might have come across Global Stackfx. This is a platform that claims to offer forex, stocks, commodities, indices, and cryptocurrencies trading with low spreads, fast execution, and high leverage. But is Global Stackfx a legit broker or a scam? In this review, we will examine the features, pros, and cons of Global Stackfx and help you decide if it is worth your time and money.
What is Global Stackfx?
Global Stackfx is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. According to its website, Global Stackfx is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines under license number 23683 IBC 2016. However, this does not mean that Global Stackfx is a reputable or safe broker, as the FSA is not a well-known or respected regulator in the forex industry. In fact, many scam brokers use offshore jurisdictions like St. Vincent and the Grenadines to avoid strict oversight and compliance requirements from reputable regulators like the FCA, ASIC, or CySEC.
Global Stackfx offers four types of trading accounts: Basic, Standard, Premium, and VIP. The minimum deposit for the Basic account is $250, while the VIP account requires a whopping $50,000. The leverage ranges from 1:100 to 1:500 depending on the account type and the asset class. The spreads are variable and start from 0.1 pips for forex pairs, but there are also commissions charged on each trade. Global Stackfx provides access to over 200 trading instruments, including 50 forex pairs, 80 stocks, 20 commodities, 10 indices, and 40 cryptocurrencies. The trading platform used by Global Stackfx is MetaTrader 4 (MT4), which is a popular and user-friendly software that supports multiple charting tools, indicators, and automated trading strategies.
What are the pros and cons of Global Stackfx?
Pros:
- Wide range of trading instruments
- Supports MT4 platform
- Offers demo accounts
Cons:
- Offshore and unregulated broker
- High minimum deposit and commissions
- No customer support phone number or live chat
- Negative reviews and complaints from clients
- No educational or research materials
Is Global Stackfx a legit broker or a scam?
Based on our research and analysis, we do not recommend Global Stackfx as a legit or trustworthy broker. There are several red flags that suggest that Global Stackfx is a scam or at least a very risky broker to deal with. First of all, Global Stackfx is not regulated by any reputable authority, which means that there is no guarantee that your funds are safe or that you will get fair treatment as a client. Secondly, Global Stackfx has very high minimum deposit and commission fees, which make it hard to profit from trading with them. Thirdly, Global Stackfx has very poor customer service and support, as there is no phone number or live chat option available on their website. Fourthly, Global Stackfx has received many negative reviews and complaints from clients who claim that they have been scammed or cheated by the broker. Lastly, Global Stackfx does not provide any educational or research materials to help traders improve their skills or knowledge.
Therefore, we advise you to stay away from Global Stackfx and look for a more reliable and reputable broker that has a good reputation in the market and is regulated by a well-known authority.
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