GlobalArabFX (Globalarabfx.com) is a CFDs and Forex broker scam that has hit the lucrative trading world. Global Arab FX is claiming to offer leveraged financial instruments thanks to their powerful platform. GlobalArab FX is purporting to be an international company for the trade of currencies, Indices, stocks, and commodities. GLOBAL ARAB FX is claiming to have been established in 2007 by Arab and Foreign Capital. Read this detailed GlobalArabFX review.
These scammers have created a simple and eye-catching website that easily entices the eye. What investors don’t know is, behind the website, lies a big huge scam waiting to pounce on them. Looking at the about us page, information posted here is all about how this company has been in existence. Trusting this broker is the last thing anyone would ever do and we will expose the truth behind this scam. Read this honest review and find out facts you didn’t know.
Claims and promises are what scammers use to entice newbie investors into signing up with their crappy services. GlobalArabFX is no different as they have done the same with their claims of being committed to clients. This broker will do or say anything to ensure that investors sign up and deposit funds with them. Anyone who has deposited money with this broker will tell you one thing: stay away from this broker. Global Arab FX is a cloned broker and thus, watch out!
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According to the disclaimer at the footer of the homepage, this brokerage firm is registered in the UK. Looking deeper, we found out that this broker is actually a cloned broker. Whoever signs up with this broker is signing up with a broker who is committing fraud. There’s too much anonymity with this broker to warrant even a hair of trust. It’s been clear that dealing with anonymous broker is never going to happen. Stay clear of any anonymous broker.
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For all we know, this could be a front to fund the next terrorist attack. No mention of the founders of this brokerage site. There’s no mention of anyone running this website, and that makes it a dangerous broker to have. Who is the CEO or CFO of this site? Why haven’t they mentioned anyone linked to the Forex trading industry? With names, it would make verification easier since we would have contacted them through social media platforms.
Being registered in the UK means the FCA must give the green light to allow trading services. Looking at the FCA register page, shocking details emerge. It clearly reads that this broker is using cloned details from Global FX. This means that we are dealing with a professional scam outfit. Anyone who signs up with this broker is going to lose all their deposits all at once. It’s better to stay away from this broker and sign up with an authentic Forex broker.
Where are their registration credentials and documents? A REAL broker will post their registration certificates and documents for all to see. This helps to show how a broker is transparent and licensed by regulatory bodies. Lack of these vital documents is proof that we are dealing with a rogue Forex broker. Make sure to stay clear and sign up with industry regulated Forex brokers at all times. Unlicensed brokers are bad news all the time.
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GlobalArabFX is offering four different account types to choose from. These accounts include Standard, Gold, Premium, and VIP. Minimum required trading deposit with is $500, $5,000, $10,000, and $50,000. These accounts come with daily market analysis, video library and daily recommendations. Another feature that’s common with these accounts is having a personal trading coach. Claim of having 24 hour customer support team is just a hoax.
What we found odd with these accounts is that they all have similar advantages. Why would anyone deposit $5,000 and get the same advantages as a trader who deposits $10,000? These accounts are all the same and it means that broker did not think it through. Make sure to sign up with a broker who offers a wide array of account types. GlobalArabFX is simply toying with investors’ minds which is not okay. Stay away from this broker at once.
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When it comes to depositing money with this broker, that’s the only thing they got right. Depository channels are numerous thanks to the mind game this broker is playing with investors. They have made sure investors have all options available so no excuse is given as to why depositing is impossible. Depository channels include PayPal, Visa, American Express, Solo, MasterCard, WorldPay, and others. This is not a valid reason to sign up.
When it’s time to withdraw money with this broker, that’s when the real problem starts. It has come to our attention that no investor has managed to withdraw money with this broker. It’s clear that this broker is refusing to allow withdrawals. And this is a classic scammer’s move whose intentions are clear. Very soon, this broker will close down shop and have your money as retirement security. Stay clear from signing up with this cloned broker site.
Funds are not safe with a broker who is using fake credentials to sign up investors. Looking at their disclosure agreement, this broker fails to mention a few important factors. Where do they bank money deposited by this broker. It’s clear that we are dealing with a broker who is breaking all the regulations and rules set by the industry. It’s possible that users are depositing money straight to the owner’s personal bank account.
Another disturbing detail with this broker is segregation of accounts. GlobalArabFX is pooling funds in one account which is dangerous. In case of bankruptcy or insolvency, this broker will lose all your funds at a go. Make sure to never sign up with a broker who does not guarantee security of funds. Users should not expect any compensation should the above scenarios occur. GlobalArabFX does not participate in a compensatory scheme. Stay away from it.
It’s clear that we are dealing with a thought out scam service provider. Make sure you mark all their emails as Spam and never click on any links sent by this broker. Hackers are using these links to access personal details such as credit card information. Their Pegasus platform is highly unstable and is a breeding ground for hackers to gain information. Warn your friends and relatives from signing up with this broker.
This broker leaves us with no other option but to add this broker to our scam blacklist. Adding this broker to our scam blacklist will hopefully prompt relevant authorities to investigate. Shutting down their operation will greatly help investors and newbies from falling into the set trap. Stay away from brokers who have been blacklisted and have serious licensing and regulatory concerns.
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Finally, we wish you all the best in your Forex trading experience.
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