FXG Trade Review
Reason to avoid: Offshore license
Listed Date: July 9, 2018
Top 3 Forex Brokers
Beware FXG Trade Review is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- FXG Trade User Reviews
- FXG Trade News
Is FXG Trade Scam or Legit Broker?
FXG Trade is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade FXG Trade. We never advise trading with an offshore 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 in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.
About FXG Trade
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is FXG Trade safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
What is FXG Trade?
FXG Trade is a brand owned by Capital FXG LTD – a company licensed in the Marshall Islands. The Marshall Islands is a popular offshore destination for forex brokers, as it offers a variety of tax benefits (no income tax, no capital gains tax nor inheritance tax), the registration process is fast and low cost, and capital requirements are also very low, amounting to USD 2000. Also, the billing of the company is handled by Nordic Pearl Ltd., based in Bulgaria.
- Although the company is not licensed in the UK but is targeting UK residents. It is recommended to trade with brokers regulated by UK’s FCA or Australia’s ASIC (Read the ASIC Regulated MEXC's Review) instead. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. The regulator also protects customers when authorized financial services firms fail.
FXG Trade Review Conclusion
We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have 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 HotForex and BlackBull Markets.
FXG Trade Update
We found the FXG Trade website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.
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Don’t actually know how I fell for this scam but it happened… Do I need to be worried about identity theft? They have a picture of my drivers licenece and utility bill. Asked me for this after I deposited money and was the first time a red flag went off in my head, I had already sent the money and wanted to follow through in hopes to withdraw. I’ll never see the money again and it’s the price I’ll pay. SERIOUSLY though! Do I need to worry about identity theft?
Total Scam Company, I invested £2,500, i made a few trades and substantial profits but could not withdraw any funds, I got suspicious and demanded my refund of my initial investment and profits. I was then told i had to supply Credit Card details and more proofs of ID, to withdraw my money. Total scam thieves.
I lost all of my money.
You will not get any of your money back from these thieves
I learned the hard way. Ouch
A Fraudulent company – that cold calls, harasses with poorly trained European sounding actors. Has no FCA license or number or address and their website and phone changes every so often with a new name and number. Total scam company, Please be careful and never pay any company money if they don’t have FCA number which you should check including directors names before even considering making a payment
Need advice to get refund if invested into FXG Market
Need advice to obtain REFUND if invested into this FXG market.
I invested a total of 750 Euroes but the company wants me to increase the investment up to 3000 Euroes. I cant withdraw this money and all I need is a refund. I have become too suspicious of this company