When choosing a broker to trade with, you need to be extremely cautious. In the financial industry, frauds and scams are rampant and can result in the loss of investments. One such broker that has been flagged for a potential scam is Fxtrade Global.
Company Overview
| Broker Name | FX Trade Global |
| Website | http://fxtrade-global.com/ |
| Location | Unknown |
| Regulation | Not regulation |
| Traders’ review | Negative |
Team
Fxtrade Global does not provide any information about its team on its website. This lack of transparency raises questions about the legitimacy of the broker. Most reputable brokers are transparent about their owners, management team, and employees.
Services and Products
Fxtrade Global purports to provide multiple trading instruments such as forex, commodities, and cryptocurrencies. The broker claims to offer 50+ currency pairs, allowing traders to enjoy tight spreads and high leverage. We tried to know about the details of 50+ pairs, but no details were found.
Trading Platform
Fxtrade Global offers its clients the MetaTrader 4 (MT4) platform, which is widely used in the industry. When we checked with the MT4 demo, we did not find any demo opportunity to check the platform’s features.
License and Regulation
License Status
Fxtrade Global claims to hold a license from the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. However, the FSA is not among the most trusted financial regulators. Their requirements for obtaining a license are low, and they do not offer any compensation scheme for clients in case the broker goes bankrupt.
Regulation Status
Fxtrade Global is unregulated in most countries, including the United States, the United Kingdom, Australia, and Canada. It is important to note that unregulated brokers are not monitored and, therefore, pose a significant risk to traders.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers do not adhere to any regulatory requirements, making it easy for them to engage in fraudulent activities. Funds deposited in an unregulated broker’s account are not protected, and clients may lose their investments when the company shuts down.
Legal Warnings Against Fxtrade Global
We did not find any legal warning till now. But several scam-reporting websites and online forums reported about their scam activities.
Client Feedback About Fxtrade global
About Their Trading
Fxtrade Global claims to provide high leverage and tight spreads to its clients. However, many traders have reported that the spreads are high and the trading conditions are not favorable. Many traders have lost their investments due to trade manipulation.
About Their Customer Service
Fxtrade Global lacks proper customer support, which can be frustrating when traders face challenges while using the platform. Many clients have reported that Fxtrade Global’s customer service is unresponsive.
How Can Reviewsadvice Help You If You Get Scammed?
If you have been scammed by Fxtrade Global or any other fraudulent broker, Reviewsadvice can help you to recover your funds. When you submit your case through our website form, we will evaluate the case. Then we will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
Final Thought
Fxtrade Global is not a reputable broker. The lack of transparency, unregulated status, and regulatory warnings all suggest that it operates a fraudulent business. Investing with an unlicensed broker poses significant risks to your investments. It is crucial to research extensively and select a well-regulated broker with a good reputation.
