Is Forex Grand Scam or a Legit Broker?

According to our research, Forex Grand is a total scam. The broker is not regulated and has no legal right to provide financial services to the public. Moreover, Forex Grand has been suspected of fraud, when pretending to be another company with a better reputation.

  • Forex Grand is a forex broker that offers the trading environment through the MT4 platform and proposes access to over 40 currency pairs, indices, futures, indices, shares, metals, and more. The company maintained a very well-designed proposal through a good-looking website and detailed offering.

About Forex Grand
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is Forex Grand safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Forex Grand?

Apart from the issue that the broker is based and holds a license of only offshore authority in the Marshall Islands, which we always advise avoiding due to lack of regulation and very low requirements.

  • In fact, the Marshall Islands is an offshore zone attracting various firms that for one reason or another escape from serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors’ investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.
  • The Forex Grand traders complain constantly about a broker’s non-trustful operation. The complaints are about the refusal of withdrawals with no ability either to take any profits or deposits. Actually, this is a typical fraud act to attract clients, get their money, and then find excuses, this is the reason you should always trade only with regulated companies as they are constantly overseen by the regulator in terms of their operation. And of course, the regulated firms are checked on their adequacy before they are able to offer trading in the market.
  • The Forex Grand was warned by various authorities that identified an illegal, non-approved offering from the company towards the residents since the particular investment proposal requires authorization. The Bulgarian FSC issued Forex Grand in its alert list in June 2018, while earlier UK’s FCA warned investors by its official blacklist of the company.

    “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by FCA. We strongly advise you to only deal with financial firms that are authorized by us, and check the Financial Services Register to ensure they are.”

    FCA, UK. May 2018.

Forex Grand Review

Forex Grand Review Conclusion

We strongly advise all investors and traders to avoid Forex Grand and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and eToro.

Forex Grand Update

Recently Forex Grand website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case their receive trading proposals. 

No news available.

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