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One of the riskiest investment platforms around is FinanceGlobalFx. The platform has high leverage putting your investment at risk. We haven’t seen anyone praising the platform, as withdrawing is also a problem. And this is the reason we believe we are dealing with a risky platform. Those who believe the pop-ups that come with withdrawal claims are in for a rude surprise. Before jumping into the platform, there are a few issues to note. Please find out more in our exclusive FINANCEGLOBALFX Review.
On their about us page, the platform makes the bold claim of being licensed by two authorities. But, unfortunately, the two governing authorities include ASIC and VFSC. And this is their first mistake as it clearly shows a lack of understanding of the regulatory framework.
FinanceGlobalFx claims to have offices in 200 countries, and yet, we haven’t heard of them. In fact, most brokers and traders haven’t heard of the platform. These are false claims meant to drive up sign-ups.
The platform wants to lure investors with the false claim of international recognition. There are over 15,000 trading products available under 7 asset classes. According to the road map, the platform started way back in 2013.
To find a suitable way of investing, you need to use tested platforms. Today’s investor also wants realistic ways of investing. And this is where Coin staking, DeFi, and Masternodig come into play. Why don’t you give these options a try?
Finance Global FX also claims to partner with leading financial institutions such as Citadel and Morgan Stanley. However, when we reached out to these platforms, none even knew their name was used on the platform.
It goes without saying that financeglobalfx.com will try and use every trick in the book. At the end of the day, they want naive investors to deposit funds and lose them in the process. Here are some of the red flags we spotted on the platform.
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Interestingly, there’s no indication of the available account types. The platform fails to inform users of the minimum allowed deposit. We don’t see a shred of evidence on the number of account types.
It’s a mistake that no professional trading website can live with. Investors are now forced to sign up without knowing the available accounts. And this gives the platform the chance to steal funds from investors.
Investors will be asked to deposit as many funds as possible. In return, the platform promises huge profit gains. Unfortunately, these are empty claims that have borne no fruit. We haven’t seen any investor with proof of making returns with the platform.
FinanceGlobalFx fails to inform users of the available features such as leverage and spreads. Yet, it’s an important aspect when it comes to investing and trading. And this shows the platform is lacking in terms of professional appeal.
The platform tries to lure investors by claiming to be the recipient of several awards. These awards include Best cTrader and Best FX Trading Platform 2018. However, there are a few investors who would easily believe the platform.
Thanks to our keen eye and years of experience, we know how to spot mistakes. For instance, the platform does not show any proof of receiving these awards. There’s no picture of a team player receiving the awards.
We also don’t see their name engraved on these awards. The awards are six in total, and none of them have their name. It’s the reason we believe these are sales tactics meant to fool naive investors. The platform is far from receiving any awards from the forex industry.
At the footer of their homepage, the platform claims to be registered in Seychelles. The parent company is Financeglobalfx Limited. There’s even a registration number to match the name which they claim to receive from the FCA.
Our investigations show no such entity exists in the records of the Financial Services Authority. Furthermore, the platform has no intention of giving up the names of the people running the platform. And this makes it an anonymous investment platform.
What we have is a platform that wants to remain under the radar of industry officials. So there’s no mention of the people running the platform. Even the name of the CEO or CFO of the platform is not available.
There’s no way we would recommend or even think about investing with such a platform. The risks that come with an anonymous offshore platform outweigh any gains. Furthermore, there’s no proof of concept.
Although there’s a chat tab, the response time is not something to write home about. The platform is, without a doubt trying everything possible to remain anonymous. And this means limiting contact to just emails.
There’s no direct access to the people working behind the platform. The platform fails to give members a phone number. When you want to reach out, send an email which means waiting for a response. It’s time-consuming and not effective in the online trading world.
Another aspect to point out is that there’s no mention of how users are to deposit funds. However, once you sign up, the platform will send instructions on how to fund your account. And this means sending a bank account where you should send funds.
Withdrawing funds is the biggest hurdle you’re likely to face with the platform. And this means no one will get the chance to withdraw funds.
To ensure investors sign up in large numbers, the platform uses false claims. These include having 5360 traders online. Even if you come back two weeks from now, the number remains the same.
The earnings for the last 30 seconds part is also another red flag. According to the platform, earnings are $124 70,184. Even the number is quoted wrong, which makes it a false statement. There are no such earnings on the platform.
FinanceGlobalFx is not a legit platform as they hold no license from credible regulators. Furthermore, even the license they claim to have from the FSA is not real. Instead, the platform is using random digits to act as their license number.
A regulated platform would provide proof in the form of copies of their license certificates. But, without any regulation, the platform is free to operate as they seem fit.
When looking for a perfect fit for your investment venture, there are some features to look for. These include having a platform that a renowned regulator regulates. Examples of these regulators would be BaFIN, CNMV, CONSOB, FCA, and the SEC.
Despite claims of being registered by ASIC, there’s no record of it. All platforms registered by ASIC are found on the official ASIC registered entities page. So the platform is only using the ASIC name to further their cause.
There are no positive statements from an independent review platform. And this makes their testimonials false.
Safety of funds is out of the question with the platform. Therefore, there’s no way we can recommend anyone to use the platform. The loopholes are too many to ignore. For example, Finance Global Fx does not provide any insurance cover for deposits made.
And this is a violation of forex trading regulations.
The above are our reasons why we won’t recommend the platform. Here’s a summary of why we see FinanceGlobalFx as a financial risk
You now know the risks that come when you invest with financeglobalfx.com.
To get the real deal, you need to join reliable platforms with a proven track record. It’s the only safe way to invest.
Feel free to leave a comment or write to us in case you have any pressing questions.
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