Beware! FinanceglobalFX is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
FinanceglobalFX is not really a broker – the company does not allow trading at all. Once we made an account, we only had access to the following dashboard:
What’s more, it is clear that the board is being manipulated – how could we have achieved a higher profit than last week, if we just made the account? It is clear that FinanceglobalFX is a scam – it probably offers investment plans with incredible returns to its victims. We do not know the exact numbers for the plans, but we have seen the scheme hundreds of times before. In any case, FinanceglobalFX is best left avoided – and should you need further convincing, you can find it in the full review of the broker:
FinanceglobalFX regulation and safety of funds
FinanceglobalFX is not regulated – and it is not a subsidiary of TopFX as it claims below:
We know this much because TopFX actually is a licensed broker – and it does show up in the CySEC register, as you can see below:
However, note that FinanceglobalFX’s domain is not present in the list of approved domains – therefore, the only connection between the two firms is the one FinanceglobalFX claims exists. The CySEC is one of the top regulatory bodies in the world, providing many protections to traders who use the services of brokers overseen by it – for example a Negative Balance Protection policy, which makes it so no-one can lose more money than they have invested with the broker. If you wish to read more about the regulatory environment in Cyprus, you can do so here – we have also listed our top-rated brokers from the European destination. Picking one of them is going to be infinitely more profitable that using the services of scams like FinanceglobalFX!
As for the Seychelles, we sincerely believe that the broker is incorporated there – the tiny nation does not regulate its markets whatsoever, and it has therefore become a hotbed for scammers!
FinanceglobalFX trading software
The dashboard we showed above is the closest to trading software that FinanceglobalFX provides – it is certainly a far cry from an actual trading platform like Metatrader 5, revered for its automated trading features and much more. Stick to brokers that allow trading – here are the best ones out there providing access to MT5 – the best platform out there!
FinanceglobalFX deposit and withdrawal methods and fees
FinanceglobalFX accepts deposits via cryptocurrencies – and payments with them are always final. No chargebacks are available with Bitcoin, and we believe FinanceglobalFX is trying to prevent its clients from filing them – a common tactic with scammers.
As for withdrawals, we do not know what FinanceglobalFX’s policy on them is – the broker does not present us with its Terms and Conditions, which constitutes an unacceptable lack of transparency. But we would not expect getting your deposits out of FinanceglobalFX’s grip to be easy or cheap, if possible whatsoever!
How does the scam work?
FinanceglobalFX is one of the most obvious scams we have ever seen – and it follows a pattern we are also quite familiar with at this point:
The scammers put together a website like the one FinanceglobalFX runs from and have ads on social media direct to it. These ads promise untold returns on investments and so on. Should someone click on them, and decide to make an account with FinanceglobalFX, they are prompted to leave their phone number – a crucial aspect of the registration, as the scammers will then use the number to harass them for deposits. They will demand more and more money until their victim is bled dry – and should that victim demand a withdrawal, or stop pouring money with the scammers, they will simply cut them off.
What to do when scammed?
If you find yourself in the situation described above, do not despair! Instead, follow the steps described below to limit further losses:
First off, recall what forms of ID, credit cards and so on the scammers had access to – and get new ones issued immediately! Also, remove all sorts of desktop sharing software they had you install, as they love using programs like TeamViewer to snoop around your PC without permission.
Once that is done, your privacy should be secure once more – and it would do you good to think about getting your money back. The best way to do that is by contacting your bank and explaining your situation to them – they will walk you through the steps you can take to file a chargeback. Beware of recovery agencies, however – they are simply another scam. If they demand an upfront payment, and you give it to them, they will simply run away with your money.
Finally, if you have been scammed, please consider leaving your thoughts on FinanceglobalFX in the comments below – the most efficient way to combat this scam model is by raising the general awareness of it – and by leaving a comment, you will be protecting someone else from getting scammed in the future!