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If one broker has deceived many, it has to be Market Giants. Our marketgiants.com review is out, and you will get to know the red flags found on this platform. Despite claiming to offer a 100 percent welcome bonus, these are false claims. Other red flags include an unstable trading platform and the broker blocking withdrawals. The latter has driven members to lodge complaints against the broker. Here’s our candid MARKET GIANTS REVIEW.
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The broker claims to have over 100,000 users spread across the globe. Market Giants is promising super-fast withdrawals and over 300 trading instruments. Other promises include low pricing and one-on-one trading sessions.
Once you land on the homepage, marketgiants.com, you feel like a professional broker. Yes, the platform is enticing, thanks to the alluring aesthetics. We understand why most investors signed up after landing.
The broker claims if you add $2,500, they will match your deposit. And that means starting with an account balance of $5,000. You have to ask yourself what’s in it for the broker. Why would the broker offer or dish out funds?
Before signing up and depositing funds with a broker, you must do due diligence. Try and find out what makes a platform tick. You need to find out the best possible case scenario. Reviewing reviews, get to know what other users have experienced with the brokers.
For those new to trading, you must be thinking, and this is an excellent broker. But, unfortunately, adding the same value to my account means more funds to spread risks. For experienced traders, this is a red flag, and there’s something amiss with the broker.
You’ll likely lose more funds with the broker for just depositing the initial investment. When you go over the bonus terms, that’s when you understand the risks involved. The broker won’t allow anyone to withdraw funds unless you fully pay the bonus.
And that begs the question of whether we are dealing with a broker or a lender. Regulators are against brokers who offer bonuses and commissions. These are traps set for investors to deposit more funds to get the same bonus value.
The broker is using backend logins to increase the account balance. And that means manipulating your account to appear to have a large amount. Once you deposit funds, the broker immediately starts the blockade process.
Poor, you get an unstable web platform that lacks viability. Members will likely lose their trading position thanks to the slow execution model. You also don’t get access to technical indicators and analysis tools.
Their platform is dismal at best, and you can’t even use robots to automate trade. In addition, there’s only a nine timeframe available, which is not close to the 21 timeframes on MT4 and MT5. These are the facts about their web-based platform.
It also fails to offer much in terms of viability and security. An unstable platform whose asset menu keeps disappearing. The terminal’s interface is another issue you have to contend with. Beginner traders will have a hard time trying to navigate the platform.
Customization is another red flag with the platform. Support changes the platform as soon as you customize it to fit your trading style. And that means also moving your trading position to suit the broker’s commission targets.
Members can choose from five accounts, each promising a different set of features. The five tiers include bronze, silver, gold, premium, and platinum. Let’s take a closer look at each of these accounts.
It’s the most basic account, with investors having to deposit $10,000. You get a personal account manager with risk management strategies and guidance. Unfortunately, the broker fails to give more information on account settings, such as leverage and spreads.
For the silver account holder, there’s a minimum acceptable deposit of $25,000. You get the same matching features as the bronze account holder. The additional feature is personalized trading alerts.
There’s a minimum acceptable deposit of $50,000 with this account. In addition, members get a promise of risk-free trades and practical guided trading sessions. Coaching from the senior market analysis is also on the cards.
You have to deposit $100,000 to get started with this account. With this account, you are eligible for managed services. The leverage is much higher than any of the three accounts above. Unfortunately, there’s no mention of insurance coverage for such large deposits.
It’s the most exclusive account, with members having to deposit $250,000. The broker targets institutional investors with this plan. You get all features found in the other four accounts. The broker promises higher leverage too.
These accounts have a high minimum deposit, which regulators do not recommend. As a result, high-risk newbies will lose all their initial deposits with the platform. In addition, you can’t access educational materials unless you fund the account.
Leverage and spreads are not mentioned on the platform. And that leaves a sour note to investors who sign up hoping for fair trading conditions. Instead, we see a broker who doesn’t put your interest at heart.
There’s also the issue of trading sessions which are mere YouTube tutorials. The broker fails to offer much regarding availability and reasonable trading conditions. You can download these materials free without having to pay a dime.
You can trade with over 300 trading instruments spread within five different classes. These include commodities, crypto, forex, indices, and stocks. Commodities include agricultural products, energy, and metals.
Crypto pairs found include three of the largest cryptocurrencies. These include Bitcoin, Ethereum, and Litecoin. The broker pairs these cryptos against each other and leading major currencies.
Forex trading happens to be at the core of the platform’s trading. You get to trade major and minor currency pairs. There’s no indication of whether the broker offers exotic pairs. Spreads on these pairs remain unknown.
Indices found include DAX and Dow Jones. You get to trade shares from several international companies. What you get is a platform that doesn’t offer much asset information. And the platform’s terminal dashboard doesn’t load all these assets.
There’s no information on who runs the platform. We don’t have any information on the available trading name of the entity behind this platform. And that makes Giant Markets an anonymous crypto investment platform.
Beware of anonymous platforms. Such brokers rarely keep their word, as is the case with giantmarkets.com. The issue with such brokers is that it becomes increasingly hard to recover funds.
Market Giants is not a valid broker as it cannot offer liquidity services. Such brokers will likely not offer much regarding the safety of funds. Without a legal framework, the broker is free to introduce harsh conditions.
There’s an issue with depositing funds with the broker. You will likely not have much in terms of the safety of funds. Funding your account with an unregulated broker is the last thing you should do. There are no withdrawals taking place.
Please stay away from Market Giants.
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