Fxg Markets Investment review – 5 things you should know about fxgmarkets.com

Beware! Fxg Markets Investment is an offshore broker! Your investment may be at risk.

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At first glance, the Fxg Markets Investment  website does look like that of a credible forex broker. But upon closer inspection, we find that the most important legal information is missing or false. In this review we will show you how to determine for sure if a broker is legitimate or a scam.

Fxg Markets Investment Regulation and safety of funds

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 homepage of the website, the company Fxg Markets Investment Ltd is based in the United Kingdom and is licensed by an institution with the abbreviation MFA.

But the regulator that authorises and supervises forex brokers in the UK is called the Financial Conduct Authority (FCA).

Elsewhere on the website we see claims of regulations from other non-existent institutions:

One of the real European financial regulators, the Spanish CNMV, has spotted the fraudulent activities of Fxg Markets Investment and blacklisted the website.

Signing up for an Fxg Markets Investment  account requires agreeing to the Terms and Conditions and Privacy Policy, but the links to those documents are blank. We do not know what we are agreeing to.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the FCA in the UK or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

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. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

Fxg Markets Investment Trading software

Fxg Markets uses standard web-based trading software.

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It is no coincidence that these platforms have established themselves as the industry standard. They offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of some kind of trading software is no guarantee that this is a genuine broker. Financial scammers often use rigged trading platforms to fool their victims that their money is actually being invested. However, this trading is entirely fictitious and the money goes directly into the scammers’ pockets.

Fxg Markets Investment Trading instruments

Fxg Markets Investment theoretically offers trading in all major asset classes, including cryptocurrencies. As stated, in practice this trading is certainly fictitious. Furthermore, licensed brokers in the UK are prohibited from offering trading in crypto derivatives.

Fxg Markets Investment Spreads and cost of trading

The account type descriptions promise an industry standard spread of about 1.5 pips.

But in the trading platform, we see levels that are double and triple that, and therefore very disadvantageous to the trader.

Fxg Markets Investment Maximum leverage

The trading software has a set leverage of 1:100, which exceeds that allowed by UK regulators. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Fxg Markets Investment Deposit and withdrawal methods

Fxg Markets Investment promises deposit and withdrawal of funds with many popular payment methods.

But after registering an account, it becomes clear that this is also a lie. The only payment methods available are cryptocurrency and bank transfer. These two methods do not allow you to request a refund or chargeback.

Fxg Markets Investment Minimum deposit

Fxg Markets Investment specifies a minimum deposit of 250 USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Fxg Markets Investment Withdrawal requirements

Since Fxg Markets Investment does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.