Microglobal fx Broker Review

The United Kingdom’s Financial Conduct Authority has issued a warning against Microglobal fx in October 2023

If you are looking for a reliable and trustworthy forex broker, you might have come across Microglobal fx. This company claims to offer low spreads, fast execution, and excellent customer service. But is Microglobal fx a scam or a legit broker? In this review, we will examine the features, advantages, and disadvantages of Microglobal fx, and help you decide if it is worth your time and money.

What is Microglobal fx?

Microglobal fx is a forex broker that was founded in 2018 and is based in St. Vincent and the Grenadines. The company offers trading services on various instruments, such as forex, commodities, indices, stocks, and cryptocurrencies. Microglobal fx claims to have over 200,000 clients from more than 100 countries, and to provide a secure and transparent trading environment.

What are the features of Microglobal fx?

  • A variety of account types, ranging from micro to VIP, with different minimum deposits, spreads, leverage, and commissions.
  • A choice of trading platforms, including MetaTrader 4, MetaTrader 5, and WebTrader, which are compatible with desktop and mobile devices.
  • A selection of payment methods, such as credit cards, bank transfers, e-wallets, and cryptocurrencies.
  • A range of educational resources, such as webinars, videos, articles, and ebooks.
  • A dedicated customer support team, available 24/7 via phone, email, live chat, and social media.

What are the advantages of Microglobal fx?

  • Low spreads, starting from 0.1 pips on major currency pairs.
  • High leverage, up to 1:1000 on some instruments.
  • Fast execution, with no requotes or slippage.
  • No deposit or withdrawal fees.
  • Access to a wide range of markets and instruments.
  • A user-friendly and intuitive trading interface.

What are the disadvantages of Microglobal fx?

  • Lack of regulation by any reputable authority. The company is registered in St. Vincent and the Grenadines, which is known for its lax oversight and low standards for financial services providers.
  • Lack of transparency on some aspects of its operations. The company does not disclose its trading conditions or fees clearly on its website, and some information is contradictory or outdated.
  • Lack of customer protection or compensation schemes. The company does not offer any guarantees or safeguards for its clients’ funds or data in case of insolvency or fraud.
  • Lack of positive feedback or reputation. The company has received many complaints and negative reviews from its clients, who accuse it of being a scam or a Ponzi scheme.

Is Microglobal fx a scam or a legit broker?

Based on our research and analysis, we conclude that Microglobal fx is not a legit broker, but a scam. The company has many red flags that indicate that it is not trustworthy or reliable. The company is not regulated by any credible authority, does not provide clear or accurate information on its website, does not offer any security or protection for its clients’ funds or data, and has a poor reputation among its customers. Therefore, we advise you to avoid Microglobal fx at all costs, and to look for other reputable and regulated brokers instead.

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