GlobalTrades-FX Review: Forex Scam

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GlobalTrades-FX Review: Forex Scam

GlobalTrades-FX ( is a broker with an alert out. Global Trades FX is claiming to offer professional online brokerage services. GlobalTrades FX is selling itself as a comfortable trading environment where investors earn a fortune. These are well scripted sales tags which have sadly enticed unsuspecting investors to sign up. Global TradesFX is a broker that should be avoided. Read this genuine GLOBALTRADES-FX Review and get to know the truth.

GlobalTrades-FX Review

About GlobalTrades-FX

On their about us page, GlobalTrades-FX is claiming to be an international company with a flawless reputation. These are false claims which scam brokers use to get investors and traders to sign up. Thanks to our investigation, we have some damning facts about this platform. Complaints came through our help desk and we decided to investigate. Most members remain unhappy over lack of withdrawals. Stay safe when trading online is a must. And this is why it is best to have reliable and trustworthy brokers by your side.

Apart from claiming to be a broker within the European Economic Area, no proof is shown. Scam brokers will use fake addresses to try and entice investors from the European region. And this is a classic example of offshore brokers who are trying to score with European investors. Get to know some of the empty claims and promises this broker offers. Stay away from it as more and more complaints are coming in from members. The best way is to ignore the broker and use recommended and top rated online trading products and services.

Assets Involved

GlobalTrades-FX is offering a number of assets on their scam trading platform. The broker offers Cryptocurrencies, Energies, Forex, Futures, Indices, Metals, and Shares. They offer major and minor pairs with a favorable leverage of 1:100. The broker also offers a possibility of hedging positions and claim to have prompt order execution. These are false claims since the speed of execution is slow at best. Energies listed on their page include Diesel, Ethanol, and Oil.

Traders are promised to have futures contracts for assets such as currency, grains, and metals. With futures, the platform claims to offer professional trader’s assistance. Indices offered by this broker include DAX, Dow Jones, FTSE 100, among others. Metal assets quoted include Gold, Platinum, and Silver. Members also get to trade shares from companies such as Amazon, Apple, Microsoft, and Tesla.

Domain Details

According to the trusted domain register, the website was recently created. Records show the website was created on 5th December 2019. And this makes the platform barely six months old. These scam brokers will do anything to ensure investors believe what they are selling. Thanks to domain registers, we do know exactly when the platform was created.


As part of getting traders to sign up, reliable brokers offer educational materials. These materials range from eBooks, Personal Training, and Video tutorials. It turns out that the broker in question has no time to teach newbie traders. A closer look at their educational page reveals a clear indication of their unprofessional nature. GlobalTrades-FX is taking an exact copy of wiki trading glossary and used it on their website. Traders only get to know the terms used and not how to actually trade.

License and Registration of GlobalTrades-FX

GlobalTrades-FX FINACOM Warning

GlobalTrades-FX is NOT LICENSED OR REGISTERED anywhere on the face of the planet. With a European claim of economic trading area, one would expect it to be regulated. After a quick search using most regulatory bodies, we can confirm the broker is NOT LICENSED. In fact, a warning has been issued by FINACOM which is the international Finance Commission. On their scam watch list, they have listed GlobalTrades FX as one of the rogue brokers. And this is a clear indication of the rotten services provided.

To confirm our fears, we reached out to other regulators in the European region. Most of them quickly claimed to be on the verge of issuing their own warnings. The regulators we contacted include BaFIN, CNMV, CONSOB, CSSF, CySEC, and the FCA. These reliable regulators protect investors and traders from rogue brokers. With a warning already out from the Financial Commission, Global Trades FX is a risk. Anyone who signs up should expect nothing but a horrible trading time. Loses are the only sure feature with this broker.

Restrictions of GlobalTrades-FX

Account types

GlobalTrades-FX is offering a single account type with leverage 1:100. The spreads are not available which means members give their control to the broker. On their accounts page, they claim to have three basic accounts, Basic, Gold, and Platinum. The problem with the broker is they fail to mention the account features. Minimum acceptable deposit is lacking which means they ask for a different amount each time. The acceptable minimum set deposit is $250. Any broker asking for more is stealing from investors.

GlobalTrades-FX Account Details

Contact and Customer Support

Anna is the name of the chat bot which is in Russian. And this is another proof of the platform’s inability to offer effective services. Another problem with GlobalTrades-FX is the fact that the platform insists on members leaving vital information. Before you start chatting, members have to leave their contact details. These scam brokers will sell your contact details to third parties.  Members also get calls from people who claim to be their agents.

Demo Account

They have also listed a demo account feature which works against the members. Once you sign up with the demo account, you notice the results are on the profit side. These scam artists rig the demo results to make it look like traders can make huge profit margins.

Payment Methods

GlobalTrades-FX is using two depository channels. Members can deposit using MasterCard and Visa. When a member deposits funds, they expect to withdraw without any issues. Members have not been able to withdraw funds with this platform which is a huge problem. These scam brokers will stop at nothing to ensure no member takes any profit. And this is where we draw the line with this broker.

Trading Platform

The trading terminal listed includes MT4 and MT5. GlobalTradesFX is using a web based trading terminal which is not fit for use. Their terminal is risky as it has no valid security credentials. Lack of DDoS protection and SSL encryption is proof we are dealing with a rogue platform. After a thorough check, we noticed the trading terminal is unstable. And this is why execution speed is slow to say the least.

Security of funds with GlobalTrades-FX

GlobalTrades-FX is not able to fully secure funds as expected. Their lack of security software makes the website vulnerable to attacks. These scam brokers hurriedly created a trading website without taking necessary precautions. Another issue is segregation of accounts which is not taking place. Members are depositing funds direct to the owner’s bank account. And this is another concrete reason to stay away. Members will not receive any compensation once the platform winds up.

Scam or legit GlobalTrades-FX

GlobalTrades-FX Trading Platform

It is clear GlobalTrades-FX is a scam. Make sure to stay away and avoid any interaction with the call agents. Mark their emails as spam and never click on any links.

Final Thought

By adding the platform to our scam blacklist, we will be ensuring no one else falls for this trap. Stay safe and use approved and reliable Cryptocurrency trading robots when dealing with digital currency.

We wish all investors and traders the best of luck when trading online.

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