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Is Trade Global Market Scam or Legit Broker?

Trade Global Market broker is a Non-Regulated Broker. It is NOT SAFE to trade with this company. We have checked the company and there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is Trade Global Market?

Trade Global Market claims to be a leading online trading brokerage specializing to provide individuals and organizations with services in international financial markets. The broker offers to trade with various currency pairs, as well as in Gold (Spot), Silver (Spot), and CFD as well as indices.

However, it is not safe to trade with Trade Global Market. It is owned and operated by TGM Financial LLC, and claims to be located in Tbilisi, Georgia.

• According to the website, Trade Global Market is a regulated entity and it provides a registration number. Since the broker is located in Georgia, we have checked this number with its local regulator register, the National Bank of Georgia. There is no record of Trade Global Market or TGM Financial LLC being registered in Georgia. Also, the broker provides contact numbers with British phone code, which could mean the company is based or somehow associated with the UK and therefore should be authorized by the UK's Financial Conduct Authority. However, it doesn't hold an FCA license and is not authorized to offer its financial services in the country.
• We have also noticed that the company's address provided on the website actually belongs to Zixipay Limited, a Georgian-based Payment Service Provider registered and authorized by the National Bank of Georgia. It means that Trade Global Market has been using the address of the authorized entity to delude the customers.

Overall Trade Global Market Ranking 

With our finds and issues with regulations and safety of Trade Global Market, we do not rank positively Trade Global Market, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Trade Global Market Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Trade Global Market Alternative Brokers

Based on our revelations on the regulations and safety issues with the Trade Global Market, here are much better Alternatives to Trade Global Market with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good for Currency trading
• FP Markets – Good for CopyTrading
• FXTM – Good for Beginners

Trade Global Market Deposits and Withdrawals

To fund your Trade Global Market account a minimum initial deposit of at least 100 USD is required. Funds should be transferred to Trade Global Market by bank wire, It takes 1-3 business days to process and credit the funds to the client's account by wire transfer.

• To do a wire transfer, clients are required to log in to their Trader Board, fill out the invoice, and present or send the wiring instructions to their bank.

Trade Global Market Review Conclusion

We advise all investors and traders to avoid Trade Global Market and other unregulated brokers. The lack of information about the broker’s regulations, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as eToro and XM.com. Check out the Xtrade review and FXPRIMUS Review.

Trade Global Market Update

We found that Trade Global Market was not active for an extended period. It restarted its activities after a lasting inactivity. 

Is Millennium FX Scam or Legit broker?

No, it is not safe to trade with Millennium FX. Millennium FX is the commercial name of the authorized and regulated company, which operates with the liquidity provider of CXMTrading, which is an offshore company registered in St. Vincent and the Grenadines.

• St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CapitalXP, Welkron, and more.

What is Millennium FX?

Millennium FX offers Forex, Indices, Cryptocurrency, and Raw Materials trading. The company claims to be based in the UK, however, it is not licensed by the local regulator Financial Conduct Authority (FCA).

• Moreover, Spain's regulator CNMV has issued a warning against Millennium FX: According to the Millennium FX website, the broker is registered with the Financial Commission under the number 24912 IBC. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

• "MILLENNIUM FX LIMITED www.mnmfx.com is not authorized to provide the investment services, which include investment advice, or to provide the auxiliary services in relation to the financial instruments for those purposes, foreign currency transactions."

Millennium FX Review Conclusion

We advise all investors and traders to avoid Millennium FX and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and BlackBull Markets.

Millennium FX Update

Recently Millennium FX website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. 

Is Brokerz a scam or a legit broker?

Brokerz is not safe to trade with it. Brokerz is owned by Brokerz ltd which is an offshore company registered in St. Vincent and the Grenadines.

• However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company's operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.

• In any case, we never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such companies means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is Brokerz?

Brokerz offers trading with Forex, CFDs, stocks, commodities, and indices (Find out on the list of the Best Forex Brokers for you). Brokerz was founded in 2013 by a group of professional traders, investment managers, and software engineers. The broker doesn’t disclose any information about its regulation and we suppose it does not fall under any regulatory oversight.

• Moreover, Brokerz has been blacklisted by the Austrian Financial Market Authority (FMA):

"Brokerz Ltd is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others"

• The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. 

Brokerz in India

Brokerz has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. Check the list of Forex Trading Brokers in India.

Brokerz in the USA

The United States is one of the countries that is not accepted by Brokerz. As per U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Brokerz, you are only permitted to trade with the U.S-regulated platforms.

Brokerz Deposits & Withdrawals

The minimum amount to open a Brokerz account is $/€/£ 250. Brokerz accepts a wide variety of payment methods, such as Credit/Debit card (Visa, MasterCard or Diners Club), Fast Wire Transfer. 

• Brokerz does not charge clients when they deposit funds into their accounts. However, they recommend you check with your bank or credit card company for any money transfer costs and/or extra charges. 
• If a client deposits over $2,500, any transfer fees will be covered by Brokerz. Funds can be transferred directly to your bank account by wire transfer or returned to your credit card. However, a withdrawal can only be made using the exact same method you used for depositing. Withdrawal requests are usually processed within three business days of receipt of all required documentation.

Apps

All of Brokerz’s mobile trading platforms are completely integrated with their trading software and online trading platforms, made to give traders the flexibility and choice of trading on their desktop, tablet or mobile. The traders get 24 hour dedicated support and trading platforms accessible whenever they need.

Demo Account

The broker offers a time-unlimited Demo account that provides you access to its MT4 demo platform. You can open as many demo accounts as you wish and have the chance to become familiar with the platform and its functionality for an unlimited period of time. For beginners, demo trading is the recommended starting point (Best Forex Trading Platform for Beginners). The broker is able to provide screen sharing demos of how to use the software with a member of their technical team. More experienced traders might also find this demo account useful to understand the broker’s trading conditions, pricing, and the symbols it offers. They might also be interested to conduct back-testing or try out manual or automated strategies, all of which are supported. Also, check the info on the FBS Broker Demo account by link.

Brokerz Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities and comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

• Overall ranking and experience for Brokerz is Negative

Brokerz Update

Based on our findings, the Brokerz website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.