GL-FX Review: Crude Forex Scam

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GL-FX Review: Crude Forex Scam

GL-FX ( is another crude Forex broker scam out to cause some major upsets in the trading world. GL FX is purporting to offer an unmatched trading experience thanks to having the expertise needed. GLFX is nothing but a pure scam with fake claims of licensing plastered on their homepage. Why are members ruing opening an account with this broker? Read this genuine and honest GL-FX Review for more details.

GL-FX Review

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GL-FX Review

After receiving numerous email complaints from members, we decided to investigate. Members are crying foul after the account managers openly refuse withdrawals. And this is why we know trading with GL-FX is not recommended. Trouble started brewing when members demanded they withdrew some of their earnings. To add salt to injury, their accounts have been blocked and others closed. GLFX is citing illegal trading activities as a cause for closing these accounts. What a lie.

GL-FX is a website which is being operated and run by professional scam artists. Stay away from these scam platforms which promise heaven and deliver hell. GLFX is one of them as they have cloned a trading website to feign legitimacy. Professional scam artists will do or say anything to make their products appear genuine. By creating a visually compelling website, newbie traders will fall for their website. And this is why we are exposing their dirty secrets for all to see.

About GL-FX

A red flag we immediately noticed is anonymity when it comes to who actually owns this website. If GL-FX is the company behind the platform, sad news is they are not registered. After checking with the company’s registrar, we found no information regarding this company. And this is where we notify members to stay away. Anonymity is a dangerous partner to associate with.

Who are the founding members of this brokerage firm? Why have they failed to give us names of people running this website? Scam artists are afraid of the backlash they would receive from authorities and their victims. Stop opening an account with these scam artists or become their next victim. These are illicit brokers with intent of stealing from anyone who signs up with their rogue platform.

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Is GL-FX licensed or registered?

According to the disclaimer at the footer of their homepage, they claim to be registered. In fact, they claim to be regulated by the FCA which is UK’s regulatory body. A closer scrutiny reveals GL-FX is not licensed or regulated by the FCA. These scam artists are purely naming a regulatory body to back up fake claims. The FCA register does not have any association of any kind with this broker. These scam artists won’t to fool investors into believing their funds are safe.

Another scathing issue with GL-FX is the fact that they have been blacklisted in New Zealand. The regulatory body of New Zealand has blacklisted this broker with concern. Apparently, this brokerage firm has been stealing from investors of this country. A thorough investigation on their website finds no evidence of being licensed. Where is their license and registration number? Why have they not posted details regarding their license? These are crooks who want to steal funds from investors.

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Features of GL-FX/ Disadvantages

Demo Account

GL-FX Forex Review

We found no demo account with this platform which is a huge disadvantage. A demo account is used to show users what to expect with their platform. These scam artists don’t want users to know their platform is a scam. They want investors to sign up and deposit funds without testing the platform. These are pure scam artists with a hidden agenda.

Fake Awards

Another interesting statement we must mention is the awards.They have managed to steal award logos and post them on their website. Why is it not possible to see any named engraved on these awards. An award should have your name engraved to prove it belongs to you. These scam artists have simply stolen award logos to try and dupe investors. No accolade can be given to a broker who has been blacklisted.

Information on Account types

There’s no information regarding accounts on offer. What they openly claim is they are experts in managing accounts. Which accounts? Lack of this vital information is proof we are dealing with a scam outfit. They did not think it through and are didn’t think members would notice. Luckily for our readers, we have years of trading experience. We know how to spot a scam from a mile away. Stay away from these scam artists.

Trading Platform

Another problem we are facing is with their MT4 and MT5 trading platform. They claim to have an NDD based web platform which is totally unstable. After a further look, we noticed their web platform has no security features. Simply put, hackers can easily take over their platform and steal credit card information. Why have they failed to secure their platform with SSL Encryption? These are scam artists who have nothing else to do than to steal your hard earned funds.

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Are funds safe with GL-FX?

How can funds be safe from a broker who is anonymous and has no valid license? These are scam artists who want unsuspecting investors to deposit funds with them.  Handling of funds is an important aspect for a brokerage firm. It is possible users are depositing funds straight to owner’s bank account. Now you know.

Another unsettling issue with this broker is segregation of accounts. Did you know pooling of funds in one account is against trading rules? These scam artists have openly put money at risk from third parties. GL-FX is merging assets in one account which is very illegal. t. Stay away from brokers who fail to safeguard funds. GL-FX is openly putting assets at risk which is contrary to trading regulations.

Is GL-FX a scam?

Is GL-FX licensed or Regulated?

After checking all the facts, we are sure GL-FX is a scam. Stay away from this broker and warn your family and friends from joining any of their affiliate programs.

Bottom Line

Adding this broker to our scam blacklist will ensure our readers are safe. C

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