FG-Ltd: reviews of traders about the broker. Review of conditions and compliance with agreements
FG-Ltd Company: Is it Trustworthy?
Concerning fact: FG-Ltd has been operating for four years, yet it lacks any reviews. This raises suspicions, as where are opinions of more than 200 thousand clients? Perhaps it is worth thoroughly investigating the company’s conditions before making a fateful choice?
Transparency of FG-Ltd’s Legal Component
Active discussions on forums often reveal ignorant concealment of regulatory documents. It is essential to first clarify how well FG-Ltd complies with the law in terms of accreditation and supervision.
The firm, as stated on its website, is registered in Budapest at the address: 3708 Budapest, Endre Sor 27. It is surprising that this organization has left no traces of its existence in the public space.
In the context of regulation, FG-Ltd supposedly belongs to the best brokers with AAA credit rating, under the supervision of three regulatory bodies:
- Cyprus Securities and Exchange Commission, CYSEC (document No. 233/12),
- International Financial Services Commission, IFSC (08/15/HP/41),
- Financial Services Commission of Mauritius (F54951374).
An adequate check revealed no connection between the aforementioned regulators and FG-Ltd, indicating manipulation and dishonesty on the part of this firm.
Undoubtedly, the deceit of FG-Ltd’s team is evident in its bilingual website with a Russian interface, indicating the company’s desire to attract Russian traders. This conspicuous failure violates the intermediary’s principle of mandatory registration in EGRUL and obtaining a Central Bank license.
Regarding the statistics provided by FG-Ltd:
- 235,000 active accounts,
- 460,000 trading operations daily,
- 150 trading instruments (another source claims 200),
- 70 million trading turnovers per day,
- 4 years in the market.
The domain fg-ltd.com was created by governing bodies in 2018. We checked the platform using previously known data and found that fg-ltd.com belonged to a Chinese firm from its launch until April 2021.
What to Expect on fg-ltd.com?
FG-Ltd aims to provide access to a wide range of assets, such as:
- indices,
- commodities,
- major currencies,
- stocks,
- cryptocurrencies.
- clause 4.8 – the company may accuse the trader of fraud and block the account,
- clause 4.10 – if a deal is not favorable for FG-Ltd, it may be annulled under various pretexts,
- clause 6.7 – withdrawing funds from the system is impossible within 20 days of registration. Even in cases of suspected dishonesty, funds will just be stuck,
- clause 9.1 – the company provides recommendations but does not bear financial responsibility for outcomes, potentially leading to loss of funds.
The danger of associating with FG-Ltd lies in the outdated legal documents. The “User Agreement” deserves significant attention, containing the following conditions:
No reviews on the possibility of profit withdrawal are observed. Given the dubious reputation, a significant risk of financial loss is inevitable.
Real Clients’ Opinions on FG-Ltd
Reviews on FG-Ltd are currently absent, which can be explained by the company’s relatively short existence. Currently, scammers actively target inexperienced traders to extract financial gains. Being vigilant is key to avoiding fraudsters’ traps. In case of past collaboration with FG-Ltd, be prepared to share your experience to help others avoid similar situations.
FG-Ltd Scammers’ Deception Scheme: an Overview of the Setup
FG-Ltd paves its way through a routine scam scheme common to many representatives in this field. Scammers target novices seeking to make millions without proper knowledge and experience. Under the guise of guaranteed support, a high-quality business is offered but not delivered in reality. The initial loss amounts to $1000. After FG-Ltd loses interest in you, the account is simply blocked. You are left only to provide negative reviews and seek recourse for lost funds.
Summary and Conclusions
We express categorical dissatisfaction towards FG-Ltd. Such organizations deserve a place on the “blacklist”! Despite claiming to be a reliable broker, this company actually only replicates the trading process and encroaches upon traders’ initial investments.