|🏠 Company||Global FX International LTD|
|📌 Address||Suite 305, Griffith Corporate Centre P.O.Box 1510, Beachmont Kingstown, St.Vincent and the Grenadines|
|⚖️ Regulation||Unregulated, Offshore|
The Forex industry had a net worth of 1.93 quadrillions in 2020; it is expected to cross 2.5 quadrillions in 2025. It has approximately four times higher net worth than cryptocurrency markets.
Although Forex has helped many traders make mouthwatering wealth, more than 73% of new entrants fail within the first year.
Global Fx was founded in July 2021 and is a trademark of Global FX International; the parent company has its services spread across China, Singapore, and the US.
Global FX has a registered address at Suite 305, Griffith Corporate Centre in Beachmont Kingstown. The Griffth corporate center hosts numerous trading firms, but a fair share has a shady reputation.
Global FX allows its traders to access the forex market through an STP platform and trade in more than 100 currency pairs.
Global FX had initially begun its services from Hong Kong; the website also publicized a Hong Kong address, but within a few months, SFC HK blacklisted its services in the region due to various scam reports.
After the statement, the website changed its address to the SVG and offered its services primarily to US clients. Global FX's official website contains no track of their regulating licenses, and we can infer they aren't regulated by any regulating agency.
Hence, investors will have no backup to recover if the broker defaults.
Global FX is a recent launch, and its offerings are well aligned with the market standards; the company offers the latest MT5 trading platforms that let investors access 22 different global exchanges; their C-trade interface allows traders to deal with more than 1100 instruments.
Global FX offers 0.4 pips spread for a US/EUR currency pair that is relatively lesser than industry leaders; it has also provided zero-commission trading on certain metals and indices. The main investor attraction was the copyinvest feature by Global FX.
It allowed traders to use a trading algorithm to devise trading strategies based on expert investors and use them to make profitable deals; the platform also provided 24/5 access to representatives that can guide traders about the trading platform and trading signals. The company ticked all investor confusion and looked like a good deal.
Global FX had a great first look for investors; they looked like legitimate brokers who could be trusted with their investments. The company published positive customer reviews worldwide and persuaded potential investors to opt for them.
However, the investor journey with Global FX hasn't been the best; during the first few months, the trading algorithm worked great. Investors developed a habit of using a trading bot to copy expert strategies and use them for their investment, but in 2021, the algorithm started malfunctioning, leading to severe losses for investors.
Traders doubt Global FX may have used the strategy to avoid paying investors previous profits. We have received reports about Global FX's withdrawal scam; the company has a problematic withdrawal policy that delays investors' withdrawal by more than two months.
Once an investor files for a withdrawal, GLobal FX tries its best to convince them to give up on it. But If an investor stays persistent, they'd ask for outrageous fees to complete the procedure.
Global FX has attained mixed opinions in the trading community, and we can't be sure regarding their legitimacy. We advise investors to invest with regulated brokers to keep their investments safe.
If you lost your funds to Global FX, MyChargeBack could help you. They have an expert team that has helped recover millions of funds from scam brokers. You can access their 24/7 support to discuss your case with them. Apply Today.