FXGMARKETS.COM Review
Beware Investors FXGMARKETS.COM – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Who is:
FXGMARKETS.COM is a domain name registered by FXG Markets Ltd, a company that claims to be incorporated in the Marshall Islands but does not provide any proof of registration or address. The website does not disclose the names or qualifications of the people behind the company, nor does it provide any contact details other than an email address and a phone number.
Regulation:
FXGMARKETS.COM is not regulated by the CNMV or any other financial authority. The CNMV has issued a warning to the public that this entity is not authorized to provide investment services or advice in Spain, and that it may be involved in fraudulent activities. The website does not mention any regulatory license or affiliation, and it does not comply with the legal requirements for providing financial services, such as disclosing the risks involved, providing fair and transparent information, or having adequate safeguards for client funds.
Location:
FXGMARKETS.COM claims to have its headquarters in the Marshall Islands, a jurisdiction that is known for its lax regulation and lack of transparency. However, there is no evidence that the company actually operates from there, or that it has any physical presence or staff in that country. The website also claims to have offices in London and Hong Kong, but these are likely to be virtual offices or mailboxes that do not reflect the actual location of the company.
Services:
FXGMARKETS.COM offers online trading services on various assets, such as forex, commodities, indices, stocks, and cryptocurrencies. The website claims to provide access to a web-based trading platform, as well as a mobile app and desktop software. However, the quality and security of these platforms are questionable, as they are not verified by any reputable provider or regulator. The website also claims to offer educational resources, market analysis, trading signals, and account management services, but these are likely to be misleading or inaccurate.
Reviews:
FXGMARKETS.COM has very few reviews online, and most of them are negative. Many customers have complained that they have been scammed by this entity, that they have lost money due to faulty platforms or unfair practices, that they have been pressured to deposit more funds or to accept bonuses with hidden conditions, that they have been unable to withdraw their profits or close their accounts, and that they have been ignored or harassed by customer service. There are also reports that this entity uses fake testimonials and reviews on its website and social media channels to lure unsuspecting clients.
Customer Service:
FXGMARKETS.COM has a very poor customer service record. The website only provides an email address and a phone number as contact options, but many customers have reported that they have never received a response or that they have been treated rudely or aggressively by the representatives. The website does not have a live chat feature or a support ticket system, and it does not provide any information about its working hours or availability. The website also does not have a FAQ section or a terms and conditions page that could answer common questions or clarify important issues.
Securing Your Investments: Shielding Against Unscrupulous Brokers:
FXGMARKETS.COM is an example of an unscrupulous broker that should be avoided at all costs. If you are looking for a reliable and trustworthy online trading service provider, you should always check the following aspects before opening an account:
– Regulation: Make sure that the broker is regulated by a reputable financial authority, such as the CNMV in Spain, the FCA in the UK, the CySEC in Cyprus, or the ASIC in Australia. These regulators ensure that the broker complies with high standards of conduct and protection for clients.
– Reputation: Check the reviews and ratings of the broker on independent websites and forums, such as Trustpilot, Forex Peace Army, or Reddit. Look for positive feedback from real customers who have used the broker’s services and can attest to their quality and performance.
– Transparency: Look for clear and comprehensive information on the broker’s website about its identity, location, services, fees, risks, policies, and procedures. Avoid brokers that hide important details or use vague or misleading language.
– Security: Look for secure and user-friendly platforms that are provided by reputable providers or developers, such as MetaTrader 4/5, cTrader, WebTrader, etc. These platforms should offer advanced features and tools for trading analysis and execution.
– Support: Look for responsive and professional customer service that is available through multiple channels and languages. The broker should provide timely and helpful assistance for any issues or queries that you may have.
Conclusion:
FXGMARKETS.COM is a scam website that pretends to offer online trading services, but it is not authorized by the CNMV or any other regulator. It is operated by a shady company that does not disclose its identity or location, and that uses fraudulent and unethical practices to deceive and exploit its clients. You should avoid this entity at all costs, and report it to the authorities if you have been a victim of its activities. If you are looking for a legitimate and reputable online trading service provider, you should follow the tips and criteria that we have outlined above.
