Scam Alert: Trade Global Market is Another Fraudulent FX Broker

The foreign exchange market is enormous and offers lucrative money-making opportunities. However, it is equally risky and can turn your endeavour into a nightmare. Reasons could vary, including lack of market knowledge, expertise or market volatility. Moreover, the risk of falling prey to scam brokers has always existed. Therefore, carefully selecting a broker becomes crucial, especially if you are a newbie. This piece discusses how signing up with scam brokers like Trade Global Market can lead to financial consequences and what to do to stay protected. 

Trade Global Market - An Overview

Founded in 2015, Trade Global Market (https://tradeglobalmarket.com/) is a forex and CFD brokerage firm providing trading services across various asset classes. The company takes pride in offering low spreads and deep liquidity, and it claims to boast advanced proprietary and third-party trading platforms. Clients can sign up with the company for a minimum deposit of $100, while the payment methods include bank wire only. Notably, the broker doesn't offer live customer support leaving clients to come into contact using phone or email for their queries and concerns.

Is Trade Global Market Regulated?

No! Trade Global Market is not regulated. The company holds registration in Georgia under registration number 0110/273. However, there has yet to be a regulatory organisation in Georgia that gives licenses to forex brokers or oversees businesses providing forex services. The fact that TGM isn't subject to any regulation suggests there is no legal protection for your investment. 

Clientele Feedback

TGM holds a mix of opinions among investors. Most clients claim that the company manipulates their trade results, while some also reported withdrawal issues with the company at BrokersView. Below we share some screenshots to show what clients think of the broker. 

What Makes Trade Global Market A Scam Broker?

Your funds are certainly not safe in a non-regulated company. The company is accused of using continuous pressure sales tactics to make you fund your account. Moreover, it also entices clients through promotional campaigns, luring them into false profit-making schemes. Further, the company's legal documentation contains numerous spelling mistakes, which speaks well of its unprofessionalism and illegitimacy. 

What Should I Do To Stay Protected?

The best you can do is immediately withdraw your money from it. You can also share your experience with BrokersView to help others investors know why they must not signup with the company. Essentially, it will help people save money and time.

Bottom Line  

Investing in financial markets, whether trading foreign currencies or buying cryptocurrencies, always comes with risk. Therefore, you must refrain from staking your funds you cannot afford to lose. Make sure to scrutinise your prospective broker deeply. Also, try to sign up with a reputable and preferably regulated firm. Remember, a broker's regulations do not guarantee your investments' safety. Still, it gives you the right to file a complaint against your broker if it violates the code of conduct. That's not the case with non-regulated entities.