- Registration Address/ License: Bermuda, Cyprus, Australia, UK Regulated by CySEC – no. 125/10; ASIC – no. 417482; FCA – no. 585561.
Is FXGiants a regulated forex broker or a scam?
no, FXGiants broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
FXGiants is a trade name of Balvento Limited, a registered company in Bermuda, however, which is by fact is the subsidiary of the Brokerage group that was affected by negative reputation and establish a company under the new brand name.
The parent of FXGiants group brokerage headquarters is located in Cyprus under the name of an IronFX Global Ltd and operated under the same entity names and registration numbers, that good to mention changed several times.
The company changed names while the cases with a number of clients that claimed IronFX for abuse of money withdrawals as well as promotions appeared and spread around the publicity.
The shifts of brands and subsidiaries of the company emerged in various jurisdiction while targeting to attract new customers under the fresh names.
“IRONFX GLOBAL (AUSTRALIA) PTY LTD changes entity name to GVS (AU) PTY LTD, with the business names FXGiants, IronFX, FXDD” ASIC, 2016 The new model of operation supposes to align the obligations and the interests of all parties.
Despite that and the fact that the company holds registration licenses from respected authorities in Cyprus, UK, Australia, South Africa and more, the customers can’t expect an improvement within the provided operational standard of FXGiants, especially client handling. At the same time, a number of legal cases were filed against the parent company when finally the CySEC authority settled the fine to the company.
Even though that the group of companies still trying to settle an online brokerage operation at the decent level, it is better to avoid investment and engagement in trading with FxGiants and its affiliated companies.
Safety of funds and reliable trading conditions are always first, for that reason it is recommended to choose from the Regulated Brokers that are fully complied with the set of requirements and ensures high customer protection.
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