GL-FX Review Is A Scam Forex Broker Or Legit

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How to Avoid Forex Trading Scams in 2020

Forex markets trade trillions of dollars a day. Traders around the globe are always looking for the best broker to trade forex, CFDs, binary options, stocks, cryptocurrencies, etc. With new forex brokers popping up constantly, determining the legitimacy of a broker can be a real challenge. As a consumer, it is vital to research a company before depositing money to trade. At, it’s our mission to assist you as much as possible with that research.

Most Trusted Forex Brokers Comparison

Taken from our forex broker comparison tool, here’s a comparison of the must trusted forex brokers.

Feature IG
Visit Site
Open Account
CMC Markets Saxo Bank
Visit Site
Trust Score 99 99 99 98
Year Founded 1974 1996 1989 1992
Publicly Traded (Listed) Yes Yes Yes No
Bank Yes Yes No Yes
Tier-1 Licenses 6 4 4 6
Tier-2 Licenses 3 1 2 1
Tier-3 Licenses 1 0 0 0
Authorised in the European Union Yes Yes Yes Yes

Questions to ask to avoid a forex trading scam

  • Is the broker regulated?
  • If regulated, how trustworthy is the regulatory body?
  • Is the broker offering profits or rewards for opening an account?
  • Is the broker offering a cash bonus for opening an account?
  • Is the broker offering automatic trades or signals to guarantee profits?
  • Is any credible information about the company included on its website, such as company history, financials, headquarters’ address, or similar?
  • If awards are cited, can I verify their authenticity?
  • If a big corporate sponsorship is promoted (e.g. athlete sponsorship), am I doing my due dilligence to ensure the company can be trusted?

1) Is the broker regulated?

Unregulated brokers do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing sever slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.

How do I check if a broker is regulated? The easiest way to check a broker’s registration is to look for it at the bottom of the website. The picture below is the bottom of 12Trader, a broker we recommend avoiding. You’ll notice that nowhere in this picture is a regulatory body mentioned. The “about us” pages on the site link to an account login prompt. Nowhere on the site is there any mention of regulation or company history. All of these warning signs should make you cautious.

Now let’s look at the bottom of the homepage of City Index, a trusted and regulated broker.

You will notice 1) the company specifically warns of the risks involved in trading CFDs, 2) the company is registered in England and Wales and has posted an address, and 3) the company is authorized and regulated by the Financial Conduct Authority, and has posted a registration number.

Conclusion: A regulated broker is required to include proper risk disclaimers and regulatory information at the bottom of all their website pages. To make it easy for investors, includes a Trust Score for each broker, which assesses overall trustworthiness based on where the broker is regulated and its history as a firm.

2) If regulated, how trustworthy is the regulatory body?

Some scam brokers claim to be regulated and registered by a governing body that does not monitor or regulate forex companies.

For example, let’s look at Evolve Markets.

The disclosures at the bottom of the homepage give the appearance of a regulated broker. There is a warning of the risks of trading CFDs, and there is a legal section. Upon further examination of the legal section, you’ll notice that while the firm is registered as an international broker company in St. Vincent & the Grenadines, it is not regulated.

This statement from St. Vincent & the Grenadines shows there is a warning against false claims of registration or license.

How do I know what regulatory bodies are legitimate?

Forex brokers that are regulated in a major hub are always more trustworthy. Brokers in emerging hubs can also be trustworthy, but caution is warranted. Based on our annual study of regulatory trustworthiness, here is a list of the regulatory bodies we track and how trustworthy each one is:

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  • FCA Regulated – Financial Conduct Authority – United Kingdom – (Great)
  • CySEC Regulated – Cyprus Securities & Exchange Commission – Cyprus (OK)
  • ASIC Regulated – Australian Securities & Investment Commission – Australia (Good)
  • SFC Authorized – Securities Futures Commission – Hong Kong (Good)
  • MAS Authorized – Monetary Authority of Singapore – Singapore (Good)
  • FSA Authorized – Financial Services Agency – Japan (Good)
  • IIROC Authorized – Investment Industry Regulatory Organization of Canada – Canada (Good)
  • FINMA Authorized – Swiss Financial Market Supervisory Authority – Switzerland (Good)
  • FMA Authorized – Financial Markets Authority – New Zealand (OK)

Conclusion: Double check the authority of the governing body that regulates the broker you are looking at. You can go to the website of the governing body to search for the registration number and verify its legitimacy. To help investors find a trusted broker where they live, we have created country-specific forex broker guides.

3) Is the broker offering profits or rewards for opening an account?

Scam brokers often make claims such as “make $50 a day from a $250 investment” or “make 80% returns on profit signals” or “96% success rate.” These claims are a scam, regardless of whether they are being made for forex, CFDs, or binary options. Forex brokers should not promise returns at all, small or large. Simply put, if a broker is promising to make you money, it is a scam. Other common scam practices include advertising pictures of expensive cars that are given away to lucky investors.

This Wikipedia page on binary options does a great job of summarizing risks related to binary options:

“Many binary option “brokers” have been exposed as fraudulent operations. In those cases, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations; if a client has good reason to expect payment, the operator will simply stop taking their phone calls. Though binary options sometimes trade on a regulated exchange, they are generally unregulated, trading on the Internet, and prone to fraud.”

Conclusion: If a binary options or forex broker promises you big returns on your money, this is a clear sign of a scam. You will not make $100,000 on a mega-trade; you will not make a 96% profit in 30 seconds; and you will not win a $40,000 car by depositing $2,000. Save your money and STAY AWAY.

4) Is the broker offering a cash bonus for opening an account?

When a broker offers an abnormally high cash bonus, is not regulated, and does not show offer details for the bonus, then you are likely dealing with a scam broker. For example, 1000Extra hints at a bonus of $1,000 with their vague promotional offer. If you click around trying to gather more information you are redirected to sign up for an account.

1000Extra is not regulated, has minimal information about the company, and has scam reports across the web.

Conclusion: In most regulated regions around the world, promotional bonuses for opening a new account are not allowed. The two exceptions are the United States, which is for US citizens only, and Asia.

Exness Review – Is this Forex broker scam or legit?

My personal experience with Exness

I would like to base this review on my personal experience of trading with Exness. I want to share my experience with you.

Finding a legitimate forex broker is not a big issue as there are many trusted brokers in this industry, but finding one that suits your trading strategy best, can be a difficult task. You can read all the reviews you want, about a broker; it simply can’t tell you everything that you need to know.

I have joined several forex brokers, some of them are the biggest brands in this industry; and off course, I did my research before opening accounts with them. With every broker, I found something to be missing. I use different strategies in trading; one requires tight spreads, another one works only with 1:1000 or more leverage [using too much leverage can wipeout your whole account, but if you have a good strategy, you can use it to squeeze maximum profit from a trade while risking only small amount of money.] Anyway, my point is that I need certain features to use each of my trading strategies; for instance, I need fast-trade-execution for one of my scalping trading strategies.

After trying several brokers, I finally tried Exness and I am glad to have found this broker as it offers everything that I need. Following is a list of features I was looking for in a forex broker:

  1. Tight spread
  2. ECN account
  3. High leverage
  4. Supports multiple deposit/withdrawal options including Skrill
  5. Does not disallow any trading strategies
  6. Fast trade execution
  7. Good client area
  8. Fast withdrawal process
  9. Small fee
  10. Offer different types of accounts
  11. Customer Service/Support

Tight Spreads

Exness is offering fairly tight spreads in all types of accounts. I wouldn’t call these spreads the best, but they are better than what many other brokers are offering. I would give Exness 8/10 for the spreads it offers.

ECN account

The ECN account at Exness is very good. The max leverage is 1:200. Spreads are very good. Exness deduct small commission on each trade. This account is very good for using scalping strategies. 9/10

High leverage

Official MAX leverage advertised at Exness is 1:Unlimited, but this there are certain conditions to meet if you want to use it. The feasible option is to choose 1:1000 if you have a strategy that requires using such high leverage! 10/10

Deposit/withdrawal options

Exness currently supports eight different methods [including Skrill, formerly MoneyBookers] for depositing and withdrawing funds. These include WebMoney, Wire Transfer, CASHU, Excard, NETELLER, and more… 10/10

Trading Strategies

As far as I know, Exness does not block the use of any legitimate strategies. 10/10

Fast Trade Execution

One of the reasons why I left several forex brokers is slow trade execution in their trading platform. If you are using a scalping or any other similar strategy, then you need fast trade execution. Exness trade execution is very good; it is much faster than many brokers I used. 9/10

Client Area

Out of all forex brokers I have used, Exness has the best features in client area. You can easily create multiple trading accounts, change leverage for any account, request withdrawal, and there are many other features! 10/10


Exness is one of few forex brokers who offer Instant-Withdrawal options. You can receive funds in seconds, literally! Exness processes most withdrawal requests automatically. 10/10


Exness charges small fee, or commission, on trades you execute in an ECN account. Their fee is much smaller than what many other brokers are charging. 10/10

Account types

Exness is offering several different types of accounts. Each account has a different set of specifications. 10/10

Customer Support

Exness provide 24/7 support. Their live-chat representatives are very helpful. 10/10

As you can see, Exness has everything that I was looking for in a broker. It took me a while to find the perfect broker for myself, but I am glad I finally found one, namely Exness. However, it doesn’t mean that this broker is perfect for everybody; perhaps another broker will suit all your needs. It depends on what your trading strategies are and what features you are looking for in a forex broker.

My overall score for Exness is 9/10 .

Before joining any forex broker, do a thorough research; find the broker that is offering best trading conditions that suit your trading style/strategies.

There are some other features that you may find interesting; for instance, Exness, like many other brokers, is offering trading contests from time to time.

Scam or Legitimate?

You should not worry about the legitimacy of Exness. This forex broker is 100% legitimate; they can’t get more legit then this! I mean, Exness is a legit forex broker who will always pay you your own money as well as the profits you make. You should not worry about Exness scamming you as that is not even remotely possible. It is a trusted and registered forex broker.

Update: I forgot to mention the online reputation Exness have. ForexPeaceArmy is a website that I trust. If you are worried about the legitimacy of a Forex broker, then head straight to FPA. I am not asking you to blindly trust all reviews at FPA; however, they can hugely help you in your online research. Below is a screenshot of current rating of Exness at FPA:

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Forex Brokers Checklist

1. Regulation.

It’s common sense that your account should be safer with the regulated brokers, it’s also clear that The Financial Conduct Authority, FCA (UK) or National Futures Association, NFA (US) are preferred regulators to, say, Vanuatu Financial Services Commission, FSC or self-regulatory bodies like FMRPC.

Unfortunately, the strictest regulation does not guarantee a positive trading experience, otherwise we wouldn’t send our members periodic notifications on the outrageous regulators findings like this one.

Advice. To stay informed please Join Forex Peace Army and stay subscribed to our Core Members List, also get our 10 World’s Worst Forex Brokers Report

2. Reputation.

This is the reason why we created Forex Peace Army in 2006. In the past retail forex industry was a barely regulated “wild west” with traders reviews and community discussion as the only source of truthful information about the companies.

We witnessed the very positive changes with regulators in the recent years, but this did not diminish the role of consumer reviews. Our members indicate problems with companies months and even years before regulators step in and dealt with their dirty operations.

What about professional broker reviews some other sites have? Please ask yourself, why would professionals spend time to write these long, well-illustrated, and comprehensive reviews? Additionally, ask yourself, why professional reviews tend to nearly always be overall positive, only occasionally mentioning minor flaws. The obvious answer is that these “professionals” are looking to get compensated for their time.

Traders’ reviews may not look as appealing as professional reviews, but they are unbiased, current (describe what is going on with the company now), and based on actual experiences with the broker. Forex Peace Army is committed to keep its broker reviews as honest as humanly possible; our editors are extremely experienced and have an advanced suite of custom coded tools to enable them to screen out fake, paid, self-promoting reviews as well as fake negative reviews from competitors.

Advice. If you know the name of the forex broker start typing it the “Search by name” box above or browse the list of all brokers. Read the reviews and especially pay attention to the following points:

  • ease of withdrawals
  • ease of deposit
  • cancellation of profitable trades
  • ease of account opening and verification
  • execution speed and reliability
  • slippage
  • stop hunt
  • professionalism of support

Additionally, please search our Scam Alerts Folder for recent traders complaints, and pay attention to alerts posted on review pages.

3. Conditions.

Carefully reading and understanding trading conditions of a particular forex broker is an important part of research that unfortunately often gets overlooked. Let us give you a few examples:

  • if you are planning to use a scalping strategy, high spreads may render your strategy unprofitable
  • if you are planning to profit on news events, pay attention to special trading condition during major economic announcements
  • if your forex robot requires high leverage and low margin requirements, this combination may not be available with this particular broker

Other important factors to research:

  • Minimum deposit
  • Availability of currency pairs, precious metals, oil, crypto currencies
  • Commissions and Fees
  • Competitive rollover fees
  • Trading restrictions, FIFO, minimum open trade time, news trading restrictions, arbitrage restrictions, etc.

Advice. Always carefully read and understand the forex broker’s trading conditions before opening a trading account. Do not hesitate to ask support if you don’t understand something or have additional questions

Next, practice on a demo account at the broker. Do sufficient testing of your trading strategy, forex expert advisor, forex signal service or whatever else you are planning to use with this particular broker. Remember, profitability on a demo account does not always mean a live account will be profitable. Losses on a demo account may underestimate losses on a live account.

If you are happy with everything so far, open small live forex trading account and test it again (including the withdrawal process). Increase the account size gradually.

Keep an eye on the newer reviews for your broker here on Forex Peace Army. Also, after you’ve tested the forex broker’s live trading system thoroughly, please leave a review to share your experience and help other traders.

4. Trading platforms.

There are a few common trading platforms like Metatrader, cTrader, TradingView Web Platform and also proprietary ones developed and maintained by particular fx brokers like Dukascopy’s Jforex (and others too numerous to name here).

A common trading platform like MT4 or MT5 gives you access to the marketplaces full or free and paid trading signals, expert advisors, and other forms of trading ideas. In-house developed platforms often give you access to broker-specific features (like API access for algorithmic trading or connection with Social Trading applications or Money Managers).

Advice. Common platforms like MT4 are a good start for beginner traders. You can download the software with your PC, Mac, or mobile device. You will be able to try many brokers without additional learning curve of proprietary trading platforms and enjoy extensive array of indicators, and trading strategies available through the marketplace.

5. Bonuses.

Who does not like bonuses, freebies, or promotional offers? We do too, but urge you to read the fine print. Some bonus terms are reasonable while many others are traps designed to keep you from withdrawing your money.

Always read and make a copy of the bonus terms before accepting any bonus from a forex broker.

6. Icing on the cake.

As this niche gets more competitive, to attract traders forex brokers often add free useful (and expensive if purchased separately) tools and services for account holders that may include:

  • Educational materials for novice traders.
  • Market news and webinars
  • Forex expert market commentary
  • Economic calendars
  • Calculators and trading tools
  • Technical analysis tools
  • Personalized trading strategy and market advice
  • Reuters or AP/Dow Jones financial newswires
  • Automated strategy builders

You are certainly encouraged to take advantage of such offers.

Advice. Before paying for expensive trading tools or services check if they are available with a good forex broker for free, at substantial discount, or with some minimum account balance.

GlobalTrades-FX: обзор работы мошеннической конторы

Внимание! Компания подозревается в мошенничестве

Большинство брокеров, даже если работают без года неделю, стараются убедить потенциальных клиентов в своей надежности и популярности. Однако одно дело, когда организация не планирует разводить на деньги трейдеров, и совсем другое, если это псевдоброкер. GlobalTrades-FX позиционирует себя в качестве известной технологической и финансовой компании, но отзывов о в Интернете совсем нет. В свежем обзоре мы детально разберем, какие условия предлагает эта организация и почему о ней ничего не слышно.

Честный обзор сведений о GlobalTrades-FX

То, что “Глобал трейдерс ЭФИКС” мошенничает, можно сказать даже без негативных отзывов. На официальном сайте этого липового форекс-брокера пишется много напыщенных и явно рассчитанных на новичков фраз. Конкретики ноль, что сразу выдает в этой конторе афериста. Указано, что для успешной и комфортной торговли есть все:

  • прозрачные сделки;
  • удобный торговый терминал МТ4;
  • возможность вести торговлю в 1 клик;
  • низкие рыночные спреды;
  • маркетинговая поддержка;
  • хеджирование позиций.

GlobalTrades-FX пишет о том, что заслужил безупречную репутацию, но при этом в Сети мы не видим ни одного положительного отзыва. Мошенники даже не удосужились купить комментарии, что указывает на их алчность и большую жажду наживы.

Что касается юридической информации, то на ее нет совсем. При написании обзора мы внимательно изучили не только официальный сайт брокерской конторы, но и несколько десятков посторонних ресурсов, где есть хоть какие-то сведения об этом посреднике. Нам не удалось узнать ни места регистрации форекс-брокера, ни наличие у него хоть какого-то разрешительного документа. И это неудивительно, ведь шарлатаны рассчитывают на то, что люди им поверят на слово и не обратят внимание на отсутствие юридической основы.

Имена соучредителей “Глобал трейдерс ЭФИКС” также неизвестны. Скорее всего, у мошенников это уже не первый скам-проект. При этом, как мы могли заметить, на говорится про профессионалов своего дела и опытных экспертов, которые работают в организации. Если бы в команде действительно были хорошие специалисты, брокерская контора обязательно бы представила их.

Из всех каналов связи указан только адрес электронной почты: [email protected] Естественно, писать туда свои отзывы, жалобы и предложения бесполезно. Никто вам не ответит.

Обзор официального сайта

Шаблонность веб-ресурса “Глобал трейдерс ЭФИКС” чувствуется в каждой детали: начиная от дизайна, заканчивая структурой и наполнением. Опытные пользователи сразу бы написали в отзывах, что – это сайт мошенников. Однако кое-что интересное мы все-таки смогли выяснить. Во-первых, домен зарегистрирован 5 декабря 2020 года. Это говорит о том, что все рассказы мошенников о профессионализме и большом опыте работы – не более чем сказки. Верить им нельзя. Во-вторых, судя по IP, серверы брокерской конторы располагаются в Соединенных Штатах Америки. Это вносит хоть какую-то ясность относительно того, где находятся мошенники.

Сайт представлен в двух языковых версиях. Помимо английского языка, есть русский. Видно, что аферисты нацелены на трейдеров из постсоветского пространства, так как считают их более наивными и доверчивыми.

Что касается структуры сайта, то в хедере расположено несколько вкладок:

  • “Счета”. Тут предоставляется информация о демо- и реальных счетах (Basic, Gold, Platinum), вводе и выводе средств, проверке баланса. Опять же, все очень размыто;
  • “Платформа”. Компания “Глобал трейдерс ЭФИКС” предлагает работать с терминалом MetaTrader 4 (есть мобильная, десктопная и веб-версии). По опыту подготовки обзоров, мы можем сказать, что отзывы об этой платформе посредственные, так как есть более усовершенствованный вариант – МТ5;
  • “Торговля”. В этой вкладке представлен перечень торговых активов, с которыми работает форекс-брокер;
  • “Компания”. Этот раздел полностью посвящен брокерской конторе “Глобал трейдерс ЭФИКС”: преимуществам сотрудничества, акциям и важным объявлениям. Самое ценное тут – документы, но они даны только на английском языке и в формате PDF. Мы считаем, что это сделано специально, чтобы русскоязычные трейдеры не смогли прочесть пользовательское соглашение и понять, что их обманывают. Им останется лишь писать негативные отзывы уже по факту кражи средств;
  • “Обучение”. Никаких полезных материалов в этом разделе на нет, только форекс-глоссарий. Даже новичкам этой информации мало, чтобы начать торговлю на финансовом рынке.

Как создать аккаунт: обзор регистрации на

Кнопка для регистрации новой учетной записи располагается в верхнем правом углу. Если вы кликнете на нее, откроется анкетная форма. В ней все стандартно: требуется указать персональные данные (имя и фамилию, телефонный номер, страну проживания, адрес электронной почты) и подтвердить свое согласие на регистрацию аккаунта.

Отзывов относительно проблем с созданием новой учетной записи мы не видели, но на сторонних ресурсах в обзорах писали, что после регистрации мошенники требуют полный пакет документов, в том числе скан-копию паспорта. Создается впечатление, что в “Глобал трейдерс ЭФИКС” собирают данные о пользователях, чтобы потом перепродать их другим черным брокерам.

Условия сотрудничества: обзор торговых счетов

Увидев условия “Глобал трейдерс ЭФИКС”, опытные трейдеры даже не будут связываться с этой конторой. Аферисты не предоставляют информации относительно особенностей торговых счетов. На официальном сайте указано лишь, что есть:

  • Basic. Этот вариант в конторе GlobalTrades-FX рекомендуют выбирать тем, кто избегает больших рисков;
  • Gold. Форекс-брокер утверждает, что это решение наиболее популярное среди опытных трейдеров;
  • Platinum. Такой торговый счет советуют завести серьезным, крупным торговцам, которые стремятся к большим заработкам.

Способы пополнения счета и вывода капитала

О том, как внести деньги на счет и вывести их, можно ознакомиться в разделе “Счета”. Нам удалось выяснить лишь то, что для пополнения баланса можно пользоваться:

  • банковскими переводами;
  • платежными системами (вопрос вот только, какими).

Более того, в брокерской конторе GlobalTrades-FX сразу говорят о том, что рассчитывать на быстрый вывод средств не стоит. Минимальный срок составляет 3-5 дней. И учитывайте, что при снятии денег можно использовать исключительно тот же способ, который вы выбирали при пополнении баланса.

Отзывы пользователей о “Глобал трейдерс ЭФИКС”

Отсутствие отзывов реальных клиентов о GlobalTrades-FX говорит о том, что этот мошенник только начал работу. Пока он только пытается заманить наивных трейдеров и раскрутить их на деньги. Однако мы уверены в том, что уже через 1-2 месяца на эту скам-контору обрушится масса негативных отзывов.

Схема развода

Мы уверены, что GlobalTrades-FX – очередной псевдоброкер. На это указывает отсутствие конкретики на сайте, каких-либо разрешительных документов и регулирования брокерской деятельности. Априори такой компании доверять не стоит.

Схема развода простая. Представители брокерской конторы настойчиво звонят и убеждают наращивать сумму на счете, пока не поймут, что у клиента больше не осталось средств. После этого его аккаунт блокируется, а деньги мошенники забирают себе.

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Результаты обзора

Независимый обзор GlobalTrades-FX показал, что у этой компании много признаков мошенничества. Пополнив счет на сайте, вы можете навсегда попрощаться со своими средствами.

Мы не рекомендуем начинать сотрудничество с этим форекс-брокером. В случае потери денег вы не сможете ничего сделать, кроме как написать негативный отзыв о “Глобал трейдерс ЭФИКС”.

Автор: Анастасия Чабанюк

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