Do you want to trade on Decode Global FX? Before you do that, kindly read to know about this broker decodeefx.com.
This article promises to share helpful review to support clients/traders in making the right decision.
Decode Global FX
Decode Global FX is an offshore brokerage company with a lot of promises for traders. The broker does not have any contact address on the website. More so, decodeefx.com claims to be “under the supervision of the US Financial Crimes Enforcement Bureau MSB, and are also registered in the US NFA”. This, you will find out.
What is more, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
To clarify, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
Deposit and Withdrawal
Decode Global Minimum Deposit:
Decode Global minimum deposit is not indicated. One of the indicators of a genuine FX broker is that Minimum deposit is made known to traders to start trading with a minimum deposit of $100 or less.
As for the payment methods, the broker does not properly state the different payment options. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Withdrawal process:
Under withdrawal policy, Decode Global FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides little description on trade requirements that must be met before a withdrawal if the account has received a bonus.
Decode Global Platform:
Decode Global FX offers MT5 (Industry standard trading platforms). The presence of MT5 doesn’t make the broker legit because any scam broker can do the same to lure forex traders. However, the broker is already a red flag for traders.
Nothing is said on leverage. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Why decodeefx.com Is A Suspicious Broker
First of, decodeefx.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities. On our search, We could not find this broker on NFA register let alone licensed by NFA, US.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Decode Global Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Conclusion:
Decode Global FX located at decodeefx.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was this article informative? Share with us your experience on the comment section below.
Heard of Upcapital-fx, Ar-forex-fx, Forextimeprime brokers? Read here!
