The United Kingdom’s Financial Conduct Authority has issued a warning against Global Trade fx in October 2023
Global Trade fx is a forex broker that claims to offer a wide range of trading instruments, low spreads, fast execution, and excellent customer service. But is Global Trade fx a legit broker or a scam? In this blog post, we will review Global Trade fx and its features, and help you decide whether you should trade with them or not.
What is Global Trade fx?
Global Trade fx is a forex broker that was founded in 2018 and is based in St. Vincent and the Grenadines. According to its website, Global Trade fx is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, and has offices in London, Dubai, and Hong Kong. Global Trade fx offers over 200 trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies. Global Trade fx also claims to provide low spreads, fast execution, multiple account types, various payment methods, and 24/7 customer support.
What are the pros and cons of Global Trade fx?
- Global Trade fx offers a wide range of trading instruments, which can suit different trading styles and preferences.
- Global Trade fx provides access to the MetaTrader 4 platform, which is one of the most popular and reliable trading platforms in the industry.
- Global Trade fx has a user-friendly website and a mobile app that are easy to navigate and use.
- Global Trade fx offers several educational resources, such as webinars, videos, articles, and e-books, that can help traders improve their skills and knowledge.
- Global Trade fx is not regulated by any reputable authority, such as the FCA, ASIC, or CySEC. The FSA of St. Vincent and the Grenadines is not a reliable regulator and does not offer any protection or compensation to traders in case of disputes or insolvency.
- Global Trade fx has received many negative reviews and complaints from traders who have experienced issues with withdrawals, account verification, platform glitches, and poor customer service.
- Global Trade fx has been accused of being involved in fraudulent activities, such as manipulating prices, canceling profits, and closing accounts without notice.
- Global Trade fx does not offer a demo account or a free trial period, which means that traders have to risk their own money to test the broker’s services and features.
Is Global Trade fx a legit broker or a scam?
Based on our research and analysis, we conclude that Global Trade fx is not a legit broker but a scam. We do not recommend trading with Global Trade fx for the following reasons:
- Global Trade fx is not regulated by any reputable authority and does not offer any security or transparency to traders.
- Global Trade fx has a poor reputation and a history of scamming traders out of their money.
- Global Trade fx does not provide any proof of its trading conditions, such as spreads, execution speed, or slippage.
- Global Trade fx does not offer any customer support or dispute resolution mechanism.
Therefore, we advise you to stay away from Global Trade fx and look for a more trustworthy and reliable broker that can offer you a safe and fair trading environment.
What to Do If You’ve Lost Money with Global Trade fx?
If you have been scammed by Global Trade fx or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.