Should I Trust GLOBAL FX?

Published:26 April 2019 Updated:4 January 2024

The development of technology affects all areas of human life, including trade relations. Now, in order to trade on international stock exchangesYou don’t have to graduate from a specialized college or go to the office every day to buy or sell currency or stocks. It is enough to have a good Internet connection at home and at least minimal knowledge of how the market works (The whole truth about forex).


The emergence of online trading has opened up truly new opportunities for making money. Anyone can make a fortune and become wealthy without leaving home. However, there is a nuance: the trader does not have direct access to the exchange, but works with it only through intermediaries in the form of Forex brokers. The problem is that not all of them do their work honestly, many turn out to be crooks.

Scammers rarely run only one exchange, preferring to have a whole network of resources with which they attract gullible investors and siphon money out of them. In this review, we will consider a structure engaged in defrauding people, the key link of which is GLOBAL FX (website: https://global-fx.com/).

 

Specifics of GLOBAL FX operation

GLOBAL FX positions itself as an STP broker, providing its clients with direct access to financial and other types of exchanges. Working with this technology gives the trader certain advantages:

  • high speed of transmitting data about current quotes and the system’s reaction to opening or closing transactions;
  • The trader sees the price of the asset on the trading platform, which fully corresponds to the value on the exchange;
  • small size of commissions and spreads.

In addition to providing brokerage services, the company is engaged in forex trading training beginner traders, providing them with training materials, video lessons, an individual manager:

The only thing that looks strange in this list of services is “Algorithmic trading” and “Copy trades”, which, in fact, here are fraudulent tools to drain the deposits of investors who agreed to activate them. To start working with the GLOBAL FX platform, the trader has to go through a fairly lengthy registration procedure, which consists of several steps. An important feature: it is necessary to attach a scan of the passport:

It is unclear why one should give such detailed information if one only wants to get acquainted with the platform.

The minimum deposit amount at which access to forex tradingThe project should be $300, which is quite a lot, given the focus of the project is for newcomers to online trading:

The commission is calculated from one lot and ranges from $7.5 to $10. It should be noted that the lot size does not correspond to the real money and is calculated by a special formula:

GLOBAL FX has many awards, which inspires some confidence in the broker:

 

The secrets of GLOBAL FX office location

GLOBAL FX is a vivid example of pseudo-brokers who in the pursuit of the client and the desire to extort more money have not bothered to think through the site competently. Just look at the home page, which shows three different addresses where the office is located. In a brief overview of the company, the scammers state that their office is in Canada:

A little lower it says that GLOBAL FX is located in Hong Kong. However, the contact phone number is Russian for some reason:

In the footer, the third address is in the offshore state of Vincent and the Grenadines:

The situation is even more interesting when visiting the official pages of GLOBAL FX in social networks:

 

When did GLOBAL FX start?

According to the creators of the site GLOBAL FX, the company began its operations in 2009, as evidenced by the date of registration of the domain name:

But if you look at what the resource looked like at that time, it turns out that the broker GLOBAL FX did not exist then:

It’s the same story with 2013 and 2015:

The site began to work fully only at the end of September 2016. And the office address was the same as the one listed in the social network VKontakte:

Accordingly, the information that the company has been operating since 2009 is false.

 

Linking GLOBAL FX with MFC and Global Finance

GLOBAL FX is just one of the projects of an entire fraudulent network, which includes at least two other companies, “Moscow Financial Center” and “Global Finance”. To be sure of this, it is enough to pay attention to a few points.

On its YouTube channel GLOBAL FX recommends video blogs “MFC” and “Global Finance” to its subscribers:

For some reason, Roman Blinov, chief analyst with MFC, takes part in GLOBAL FX events. Although, in fact, these are two competitive organizations:

All three companies have offices at virtually the same address:

And in the case of “Moscow Financial Center” and “Global Finance,” the only difference is the floors of the same building:

However, the date of registration is not particularly different either. As for the activities of “MFC” and “Global Finance”, they do the same thing: they position themselves as consulting companies. It is only unclear where they got their tariff plans with a clear indication of the percentage of profit:

 

Bottom line

Based on all of the above arguments, investing money in GLOBAL FX is categorically impossible. The company is another project of swindlers and is designed only to deceive traders. Who doubts or wants additional confirmation of the dirty work of the broker, we recommend to read the negative trader feedback to GLOBAL FX, of which there are many on the Internet.
 

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