GLOBALFXTRADE has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
GLOBALFXTRADE seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Dividend tracking|Professional team|Full transparency|Social trading features
Cons: Search feature is basic|Charting tools need more indicators
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. GLOBALFXTRADE said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: High security standards|Fast execution|Clean UI
Cons: Desktop app not available on Linux
I lost a significant amount because GLOBALFXTRADE did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Multiple order types|Social trading features
Cons: None so far|Nothing significant
For anyone considering GLOBALFXTRADE, please be aware that this company has been flagged by Comisión Nacional del Mercado de Valores. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
I want to warn everyone about GLOBALFXTRADE. They have been flagged by Comisión Nacional del Mercado de Valores as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
After doing some research AFTER the fact (I know, I should have done this first), I discovered that GLOBALFXTRADE is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
Several red flags with GLOBALFXTRADE: (1) They promise unrealistically high returns, (2) They're not registered with Comisión Nacional del Mercado de Valores, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Flagged by Comisión Nacional del Mercado de Valores|Cannot verify credentials