Forex Grand Review
Reason to avoid: Offshore License
Listed Date: January 2, 2019
Top 3 Regulated Forex Brokers
Beware Forex Grand is an Offshore-Licensed Broker. It is NOT SAFE to trade.
Grand Services LTD. Forex Grands
Registration Address/ License:
Marshall Islands. Offshore License, No Regulation.
Forex Grand is a forex broker that offers the trading environment through 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.
However, apart from the issue that the broker is based and hold a license of only offshore authority in the Marshall Islands, which we always advise avoiding due to lack of regulation and very low requirements. The Forex Grand traders complain constantly about a broker’s non-trustful operation. The complaints are about refused on 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 to 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.”