Heard of Globalfxminers.us forex broker? Uncertain if the broker is a scam or genuine platform? We know trading good amounts of money on a safe and licensed brokerage is one of the crucial indicators that cross the mind of every trader or client.
This content promises to share helpful Global FX Miners review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Global FX Miners: What is it?
Global FX Miners FX otherwise known as Globalfxminers.us is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about Global FX Miners Regulation
First of, Global FX Miners claims to be based in London, United Kingdom. The financial regulator saddles with the regulatory duty in the UK is called Financia Conduct Authority (FCA). FCA provides extensive information about each licensed broker.
To clear the doubts, we searched the register of the UK’s financial regulator, the FCA and it showed this broker is not authorized to provide investment services.
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are 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.
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
Global FX Miners Minimum Deposit for Traders
Global FX Miners offers an account for every type of trader like Micro, Standard, ECN, ECN PRO and VIP. The broker does not reveal leverage capped 1:1000.
The broker Global FX Miners reveals its minimum deposit $5 based on the account type. This is a cheap amount to start if only the broker is licensed.
In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Global FX Miners only allows deposits via the cryptocurrencies. There are a few reasons why scam brokers prefer to receive payments in crypto. One, transactions are irreversible and untraceable.
Another important thing, 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!
Global FX Miners Trading Software
Global FX Miners claims to offer the MetaTrader 4 (MT4) platform. But, it does not provide credentials for logging into a trading server. Truly, this broker doesn’t have functioning trading software.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
Global FX Miners Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Globalfxminers.us 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:
Global FX Miners FX located at Globalfxminers.us appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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