- Glenmore Investments. An honest and true review
- More about the company
- Are they registered and regulated?
- The platform that they are using
- No demo account
- High minimum deposit
- Incomplete terms and conditions
- Regulators warning
Glenmore investments. This is one of many forex brokers out there. And, because we all know that there are many fraud brokers, it is important to make sure that you are getting all the information needed to be able to use the right forex broker.
With further investigation, it was found that there are many things around Glenmore investments that doesn’t seem legit. That is making us suspicious. With this information that we found, you will see that there are many reasons why you should rather not make use of this broker.
We are off to a good start when we did some research about the company. There is a valid email address, physical address, and telephone number. The one thing that made us a bit worried, is that this is an offshore company that is situated in Estonia.
Glenmore investments are forex brokers. However, this is the only thing that we could find out. There isn’t any other information about the different trading options that you will have when you are making use of Glenmore. This is the first red flag that let us think that this might not be a legit forex broker.
Are they registered and regulated? There is no information about where they are registered. And, if they are registered in the first place. No indication that they have a license number and that they are regulated by any legal regulations company.
This means that they aren’t legit. They don’t have any rules and regulations that they need to live by. Meaning that they can do just about anything they please to do. Giving us another red flag.
They are claiming to make use of the best platform on the market. That they are making use of MT4. However, with further investigation, we realize that they don’t get MT4 directly. Meaning that they are paying for using MT4. They are making use of a third party. We don’t know if they are really making use of the real MT4, or a cheap imitation.
The platform that they are using is really important. This normally is a sign that they will say if they are legit or not. Only those that are using the real MT4 or MT5 platform is those brokers that you can trust.
They don’t have a demo account. You can’t see how they are working, and if they are using the real MT4 platform. And, we couldn’t test the platform to see if they are legit and what their rules and regulations are.
This might mean that they have something to hide. That if they had a demo account, that they might lose money. Because people will see that they aren’t legit. You need to use a demo account before you deposit any money. And, this is exactly what you can’t do with Glenmore investments.
For many traders, the deposit amount that you need to deposit before you can trade isn’t high with Glenmore investments. However, paying $250 as a deposit can be high, if you are going to lose it all.
There are other, more legit brokers that don’t have this huge minimum deposit that they are asking. Making the amount that you can lose, so much smaller. And, because they don’t have a demo account, you can lose the money, even before you start trading.
It is important to have clear terms and conditions of forex brokers. This is so that you know what you are allowed to do and what not. With Glenmore investments, there isn’t clear terms and conditions. It is incomplete and there are many things that they don’t explain.
And, this can cause anyone to have their account closed and the money that was in the account lost. There are standard terms and conditions for brokers, and if this isn’t stated clearly, it might be because they are creating loopholes for accounts to be closed.
Yes, there are a couple of regulators warnings out for Glenmore investments. This is because they aren’t regulated and registered. They are also not trustworthy with lots of complaints behind them. It is important to make sure that brokers that you are going to use don’t have any regulators warnings against them.
And, this is exactly what Glenmore investments have. A couple of warnings that it is better not to make use of them. You can take regulators warnings seriously. They are doing research about each broker and they know what to look for in a trustworthy broker.
Glenmore investments. Brokers that you can use for trading. However, this isn’t clear in what they are trading, and if they are legit or not. With the warnings and negative comments about them, this is so much better and safer to rather use brokers that are regulated, registered and trustworthy. And, this is all the things that Glenmore investments aren’t.