Germainfx.com Review – 5 things you should know about Germain

Beware! Germainfx.com is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Germainfx.com is in no way a broker we would trust with our own money. This broker is as shady and anonymous as they get – do not look for any safety and reliability if you choose to invest with them. Such scam companies usually have very little to offer because they were created with one aim only – to strip you off of your savings.

Germainfx.com Regulation and safety of funds

Germainfx.com provided barely any contact information – the only way to get in touch with this broker was via e-mail. They have not said where they are based, and as for regulation, they had a lot of claims they could not support. This is what the broker had to say on the subject of licenses: “In Europe, Australia, Japan, the British Virgin Islands, and South Africa are heavily regulated in the Kejing Islands and South Africa”. This incoherent sentence did not give us a lot to go on. Later on, Germainfx.com openly bragged about being unregulated – and supposedly still reliable.

We can assure you, however, that this is definitely not the case – not all unregulated brokers are scammers but many of them definitely are. Such brokers do not answer to anybody and do not have to meet any sort of requirements which is more than convenient.

Our advice for you would be to turn to a broker licensed in the UK, the EU, or Australia instead of wasting your time on this one. Such brokers are a much safer choice and are generally considered to be the most reliable in the world. Companies have to meet many requirements in order to obtain a license – like maintaining a minimum operational of €730 000 in the UK and the EU, and A$1 million in Australia. This money is meant to serve as proof of the broker’s financial stability and long-term vision. Client money is kept separate from the broker’s own funds in segregated accounts – to show that no mixing of client funds and the broker’s own money would be possible. This also makes withdrawal considerably faster. Finally, because of the Negative Balance Protection Policy, no retail clients could lose more money than you have in their account at the time.

Germainfx.com Trading Software

Germainfx.com stated that it offers access to one of the leading platforms in the trading world – the well-known MetaTrader 4. The broker did indeed provide us with some sort of download link – however, the platform we were able to download was definitely not MT4. The software the broker offered came from an unverified publisher and we were warned that installing it might be dangerous.

We were also not allowed to log in to Germainfx.com’s client area because of a website malfunction. As a result, we were not able to learn anything further about the broker’s trading conditions and the platform they offer – or even if they offer any sort of functional software at all.

We would indeed recommend that you try MT4 as soon as possible if you are serious about trading – the platform is fairly beginner-friendly but also offers access to a variety of amazing tools such as preprogrammed Expert Advisors that track markets and trade automatically, VPSs you could purchase to keep those EAs operating at all times, customizable signals you could set for prices going up or down, and the possibility to subscribe to signals set by other traders, a market for add-ons, 30 technical indicators, 9 different timeframes, and much more.

Luckily for you, there are plenty of legitimate brokers that offer this great platform.

Germainfx.com Trading instruments

Germainfx.com promised access to “over 1,250 trading products, including forex, cryptocurrencies, stocks, commodities, and stock indexes”. Without access to a platform, however, we were unable to confirm the accuracy of this information.

Germainfx.com Spreads and cost of trading

Since we could not try a trading platform with this broker, we are not completely sure what sort of spreads they actually offer. Many legitimate brokers offer amazing spreads way below the industry average – wasting time on scammers is quite pointless.

Germainfx.com Maximum leverage

Germainfx.com did not say what maximum leverage rates it offers. Whatever the case is, be careful – scam brokers often offer insanely high leverage rates.

It might seem tempting to trade with higher rates – the higher the leverage, the higher your ability to make bigger offers. This could result in decent profits – but also in much bigger losses. Always be careful with your settings when it comes to leverage and only choose rates you are 100% sure you can handle.

Germainfx.com Deposit and withdrawal methods

Unsurprisingly, Germainfx.com did not say which deposit methods it accepts either. We would like to warn you that often enough, scammers only accept crypto deposits. The reason for that is simple – such transactions are both anonymous and irreversible. This means that you would not be able to get a chargeback on your payment or track it down to a specific person or organization. For this reason, you should always be alerted when a broker only accepts this payment solution and offers no alternatives – this means that the broker is usually running a scam.

Germainfx.com Minimum deposit

Germainfx.com did not provide clear information about the minimum deposit required for you to open an account. We would like to point out that however affordable it seems to invest in a scam, opening an account with a legitimate broker is usually a lot more affordable. You can easily start trading with as little as $10.

Germainfx.com Withdrawal requirements

Germainfx.com did not provide us with legal documentation which means that we were not able to learn anything specific about this broker’s withdrawal requirements. You should keep in mind, however, that such brokers often do have withdrawal requirements. Some of them charge huge withdrawal fees. Others will ask you to reach insane turnovers before allowing clients to withdraw anything from their accounts, including deposits.

You should always stay vigilant – scam brokers are more than willing to introduce such shady clauses at all points.