Is FXGlory Scam or Legit Broker?

 FXGlory as it is an offshore entity. It is owned by FXGlory Ltd, 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. It has become an offshore zone for shady forex brokers such as Brokerz, TraderUR, and more. 

 

About FxGlory
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is FxGlory safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is FXGlory?

FXGlory, as stated on the website, was firstly established in the Department of Economic Development of the UAE (See Forex Brokers UAE) while after the year of operation in Asia region opened new branches in European countries.

FXGlory has branches in Malaysia, Cyprus, United Kingdom, and Spain. However, none of the branches are regulated or registered with any authority that oversees the Forex or financial investment services companies. Therefore, there is no strict implementation of the rules that are typically deployed by the reputable organizations in a purpose to protect customers and their investments.

  • Overall, the broker offers reasonable and competitive trading conditions on the range of trading instruments, yet with an extreme level of leverage up to 1:3000 and binary options that are also very controversial. That level of leverage is considered to be a very risky one, since the capital is traded at significant risk while the opportunities and losses are multiplied timely.
  • Apart from the numerous negative reviews and complaints from the traders which had an experience with FXGlory, the company was detected for scam operations that obviously showed cases with withdrawal delays, or ignorance of the clients, as well as the market price violations. In addition, Italian regulator CONSOB (Italian Companies and Exchange Commission) issued a warning against the FXGLory, informing investors that the firm is not authorised to provide its investment services or activities in Italy.

FxGlory Review

Overall FXGlory Ranking 

Our research revealed the multiple issues FXGlory has in terms of regulationa and reliability, thus we do not rank positively FXGlory, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • FXGlory Overall Ranking is 3 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.
RankingFXGloryFP MarketsAvaTrade
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneEducationTrading Environment

FXGlory Alternative Brokers

Due to safety issues we found with FXGlory, here we have come up with much better Alternatives to FXGlory with tight regulations and excellent trading conditions. We select Good Brokers and trustworty options for your comparison below: 

FXGlory in India

FxGlory accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. In India the broker is available, though it is uncertain whether it is regulated by the Indi’s financial regulatory body. 

Traders cannot use FxGlory from Georgia, Bangladesh, Korea, Syria, Sudan, Iran, Nigeria.

Deposit & Withdrawal

The minimum deposit is quite accessible for the traders, because it is only $1. FxGlory offers many different payment methods including all major credit cards (including Visa and Mastercard), cryptocurrency, and e-wallets including Neteller and Skrill. Bank wire transfer is also available and usually processed within 7 business days. 

  • The minimum withdrawal is $10. However, note that the minimum amount of withdrawal via all e-wallet methods (PayPal, Skrill, …) and credit/debit card is 50$ for clients whose balance is more than 50$ and for those whose balance is less than 50$ is as much as their balance.

Apps

FxGlory offers a mobile trading app for traders convenience. Mobile trading allows traders to manage their accounts from portable devices like smartphones, pocket and tablet PCs. In MetaTrader 4, mobile trading offers a great variety of analytical options and graphical display of quotes in addition to complete trade account management. Using mobile terminals in daily activities offers a convenient way to keep up with accounts when traders don’t have access to a desktop computer. FxGlory mobile app is compatible with all Android and iOS devices. 

Demo Account

FxGlory offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option. By opening a demo account, traders are able to improve their trading skills and learn everything about the basics of Forex trading, rules and conditions, movements and crises of the Forex market.

  • FxGlory demo account demonstrates the real trading environment as similar as possible. A demo account expires after 60 days since its registration if it’s not active and isn’t used.

FXGlory Review Conclusion

We advise all investors and traders to avoid signing in with FXGlory. It is much safer to open a trading account with the brokers that are regulated by the 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 FP Markets and Dukascopy.

  • Overall ranking and experience for FXGlory is Negative

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One response to “FxGlory”

  1. FXgkory,is a trap, they trade against clients, if traders win and make money they latterly steel it< they stole 7k from me< once they do that they answer you with clear scamming answered ready for you, like, you have made a trade and existed in less than 7 minutes we do not allow scalpers, so they take all your profit in full. if you trade and wait 7 minutes and win they say you have conspiracy with you IB broker to generate his commission for him(which is exactly what IB suppose to gain from it. but they steel the Gent commission and the profit of the client and disable his account. if you try to wire back your money, they take ten percent aside from the wire fees.
    THIS BROKER IS SCAM, if you are one of their victims we need to shut down their registration in Vincent and every where they have an office. we are planing for class action law suit so join us we have so far 11 scammed people with proofs

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