Beware! Broker-group.com is an offshore broker! Your investment may be at risk.
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Broker-group.com presents itself as an established forex broker suitable for beginner traders. But closer inspection reveals that it is actually a scam aimed at people with no experience. Let’s take a detailed look at why you should avoid this website and head to a more trustworthy broker.
Broker-group.com Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.
According to the website’s homepage, the owner company Broker Group Ltd is based in Panama.
But a check of the Superintendency of the Securities Market of the Republic of Panama (SMV) databases reveals Broker Group Ltd not among the authorised brokers but among those blacklisted.
The text of the terms and conditions also inexplicably refers to English law.
Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information.
Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK. As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK.
Broker-group.com Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Broker-group.com claims to offer clients a web-based trading platform. But the website does not provide access to the software if the account is not verified.
It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.
If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Broker-group.com Trading instruments
Broker-group.com advertises that it provides the opportunity to trade forex, commodities, stocks, indices and cryptocurrencies. But the website does not provide information on trading parameters and does not offer options for different types of accounts as genuine brokers do.
Instead, after registration, we get a choice between managed account plans promising guaranteed returns.
A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.
Broker-group.com Spreads and cost of trading
If you use the services of an established and regulated broker you can expect competitive terms. With Broker-group.com there is no clarity.
Broker-group.com Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The only trading parameter specified on the Broker-group.com website is a leverage of 1:500 for all asset types.
This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders.
Broker-group.com Deposit and withdrawal methods
The Broker-group.com deposit menu is not available for unverified accounts, and there is no information on the website regarding payment methods.
Scammers prefer cryptocurrencies because these transactions are not subject to refunds. While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.
Broker-group.com Minimum deposit
The leading brands in the industry offer Micro Accounts suitable for beginner traders.
Broker-group.com Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Broker-group.com||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Broker-group.com promises that it does not charge withdrawal fees and does not specify special conditions. But we have good reason to suspect that a shady website like this would surprise us with hidden fees.
Broker-group.com charges a substantial monthly inactive account fee of 5% of the balance.