GroveForex Trading has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The hidden fees at GroveForex Trading are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Regular updates|Great customer service|Intuitive for beginners|Professional team
Cons: No integrated tax optimization|Limited social trading features
GroveForex Trading offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Easy withdrawals|Comprehensive tools|Clear documentation|Responsive team
Cons: Withdrawal takes 1-2 business days|Mobile app could be improved
GroveForex Trading changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Good analytical tools|Reliable uptime|Multi-currency support|Dividend tracking
Cons: Wish they had more educational resources
The so-called education at GroveForex Trading is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for over a year thinking they would help me learn.
Pros: Smooth onboarding|Good mobile app|Intuitive for beginners|Social trading features
Cons: Help articles are sometimes vague|Wait times can be long during peak hours
I want to warn everyone about GroveForex Trading. They have been flagged by Financial Markets Authority 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.
Cons: Blocked my account|No legitimate license|Fake returns
After seeing ads for GroveForex Trading online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises