GlobalTrades-FX: Review of a fraudulent company

• Categories: Forex

GlobalTrades-FX: company activity review

Most brokers, even if they have been in business for a long time, try to convince potential clients of their reliability and popularity. However, it’s one thing when an organization doesn’t plan to scam traders out of their money, and quite another when it’s a pseudo-broker. GlobalTrades-FX positions itself as a well-known technological and financial company, but there are no reviews about globaltrades-fx.com on the Internet. In this fresh review, we will delve into the conditions offered by this organization and why nothing is heard about it.

Honest review of GlobalTrades-FX information

It can be said that “Global Traders FX” is a scam even without negative reviews. The official website of this fake forex broker contains many pompous phrases clearly aimed at beginners. There is no specificity, which immediately reveals the fraudster in this company. It is stated that everything needed for successful and comfortable trading is available:

• transparent transactions,
• convenient MT4 trading terminal,
• one-click trading option,
• low market spreads,
• marketing support,
• position hedging.

GlobalTrades-FX claims to have earned an impeccable reputation, but we do not see any positive reviews online. Scammers didn’t even bother to buy comments, indicating their greed and desire for profit.

Regarding legal information, there is none on globaltrades-fx.com. While writing the review, we carefully studied not only the official website of the brokerage firm but also several dozen external resources that provide some information about this intermediary. We could not find out the registration location of the forex broker or any regulatory documents. This is not surprising, as charlatans rely on people believing them without paying attention to the lack of legal basis.

The names of the co-founders of “Global Traders FX” are also unknown. Most likely, these scammers have already been involved in previous scam projects. However, as we noticed, globaltrades-fx.com mentions professionals and experienced experts working in the organization. If there were indeed good specialists in the team, the brokerage firm would surely introduce them.

Only the email address is provided for communication: support@globaltrades-fx.com. Naturally, writing your reviews, complaints, and suggestions there is pointless. No one will respond to you.

Review of the official website globaltrades-fx.com

The generic nature of the “Global Traders FX” website is evident in every detail, from design to structure and content. Experienced users would immediately write in their reviews that globaltrades-fx.com is a site run by scammers. However, we were able to find out something interesting. Firstly, the domain was registered on December 5, 2019. This indicates that all the scammers’ stories about professionalism and extensive experience are nothing but tales. They cannot be trusted. Secondly, based on the IP, the servers of the brokerage firm are located in the United States. This provides some clarity on where the scammers are located.

The globaltrades-fx.com website is presented in two language versions. In addition to English, there is Russian. It is evident that fraudsters target traders from the post-Soviet space, considering them more naive and trusting.

As for the website structure, several tabs are located in the header:

• “Accounts”. This section provides information on demo and real accounts (Basic, Gold, Platinum), fund deposits and withdrawals, and balance checks. Again, everything is very vague,
• “Platform”. The “Global Traders FX” company offers to work with the MetaTrader 4 terminal (mobile, desktop, and web versions available). Based on our review preparation experience, we can say that reviews of this platform are mediocre, as there is a more advanced option – MT5,
• “Trading”. This tab lists the trading assets the forex broker works with,
• “Company”. This section is entirely dedicated to the brokerage firm “Global Traders FX”: cooperation advantages, promotions, and important announcements. The most valuable information here is the documents, but they are only available in English and in PDF format. We believe this is done intentionally so that Russian-speaking traders cannot read the user agreement and realize they are being deceived. They will only be left to write negative reviews after the funds are stolen,
• “Education”. There are no useful materials in this section on globaltrades-fx.com, only a forex glossary. Even for beginners, this information is insufficient to start trading in the financial market.

How to create an account: registration review on globaltrades-fx.com

The button to register a new account is located in the upper right corner. Clicking on it will open a registration form. It is standard: you need to provide personal information (name, phone number, country of residence, email address) and confirm your consent to register the account.

We have not seen any reviews regarding issues with creating a new account, but in external reviews, it was mentioned that after registration, scammers demand a full set of documents, including a passport scan. It seems that in “Global Traders FX,” they collect user data to resell it to other black brokers.

Cooperation terms: trading account review

Experienced traders, upon seeing the terms of “Global Traders FX,” would not even consider working with this firm. Scammers do not provide information about the specifics of the trading accounts. The official globaltrades-fx.com website only states that there are:

• Basic. This option in the GlobalTrades-FX firm is recommended for those who avoid high risks,
• Gold. The forex broker claims this is the most popular choice among experienced traders,
• Platinum. This trading account is recommended for serious, large traders aiming for significant earnings.

Account funding and capital withdrawal methods

Information on how to deposit funds and withdraw them can be found in the “Accounts” section. We have only found out that you can use the following methods to top up your balance:

• bank transfers,
• payment systems (the question is which ones).

Furthermore, the GlobalTrades-FX brokerage firm explicitly states that expecting a quick withdrawal of funds is not advisable. The minimum processing time is 3-5 days. And note that when withdrawing money, you can only use the same method you chose for depositing funds.

User reviews about “Global Traders FX”

The absence of reviews from real clients about GlobalTrades-FX indicates that this scammer has just started operating. Currently, they are trying to lure naive traders and extract money from them. However, we are confident that in 1-2 months, this scam company will face a wave of negative reviews.

Scam scheme

We are confident that GlobalTrades-FX is another pseudo-broker. This is indicated by the lack of specifics on the website, any regulatory documents, and broker activity regulation. Inherently, such a company should not be trusted.

The scam scheme is simple. Representatives of the brokerage firm persistently call and persuade clients to increase the account balance until they realize that the client has no more funds. After that, the client’s account is blocked, and the scammers take the money for themselves.

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Review results

An independent review of GlobalTrades-FX showed that this company exhibits many signs of fraud. By depositing funds on the globaltrades-fx.com website, you may bid farewell to your money forever.

We do not recommend starting cooperation with this forex broker. In case of losing money, you will not be able to do anything except write a negative review about “Global Traders FX.”

Author: Anastasia Chabanyuk