Do you want to trade with FxGlobe China FX? Why Fxglobechina.com is not a genuine broker! Read detailed FxGlobe China FX review to know about this platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is FxGlobe China FX?
FxGlobe China FX also known as Fxglobechina.com is an offshore brokerage company with trading name FS International Limited a lot of promises for forex traders. The broker claims to be located at Govant Building, Kumul Highway, Port Vila.
What is more, there are two different account type offered namely, Pathfinder and Infinity.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
FxGlobe China FX Minimum Deposit:
FxGlobe China FX deposit is indicated $100 according to the account type. Although this seems to be a good offer to start with, clients and traders must be more interested in investing in a licensed brokerage where they are sure of their funds.
In contrast, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with no fear of their investment.
As for the payment methods, clients could deposit via credit and debit cards, bank transfers, Skrill, Neteller, SEPA and crypto currencies.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
FxGlobe China withdrawal FX presents to us 1 to 5 business days on any withdrawal process. Meanwhile, the brokerage charges $25 withdrawal fee on some funding methods and zero fee on others.
FxGlobe China FX Platform:
FxGlobe China FX platform claims to offer web based trader and Metatrader 4/ 5 (Industry standard trading platforms). What you must know is that, the claim to offer MT4/5 do not make the broker genuine in the service because any scam broker can do the same to appear real and lure forex traders/ clients. Many scammers have trading software to fool their victims that their money is being invested.
As for FxGlobe China FX leverage, it can get up 1:500. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
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 You Should Avoid Fxglobechina.com Forex Broker
First and foremost, Fxglobechina.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, helping them become as vague as possible but yet retaining the illusion of being legit.
Regrettably, the website claims to be licensed and authorized by the Vanuatu Financial Services Commission (VFSC), but that is absolutely not true. There is no company by the name of FS International Limited or broker by the name of FxGlobe China was to be found there.
On a critical investigation, we discovered the brokerage has been blacklisted by the local Financial Conduct Authority (FCA) in the UK — See below
Further, 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/ clients 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.
FxGlobe China FX 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
Verdict:
Lastly, FxGlobe China FX located at Fxglobechina.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From all 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.
In case you found this information valuable, please share with us your experience in the comment section below.
Read earlier reviews on Betail-capital, Forextimeprime brokers
