FXGTrade was an offshore Forex broker that opened in April 2017. They are out of business!
For complaints about Forex brokers you can read this.
FXGTrade Trading Review
FXG Trade offers their investors the basic MetaTrader4 forex trading platform. The Meta Trader 4 is the most popular trading software used by Forex brokers, mostly because of the addon software available from MQL5. For a new investor, it is actually a difficult trading software to use, and many of the larger brokers, offer easy web based trading solutions, see here.
Investors are presented with three account types with the minimum deposit starting at $5,000. Many underlying assets are listed for trading, including major & minor currency pairs, commodities, metals, exotic crypto currency, market indexes and stocks. Leverage available is up to 300:1 depending on the underlying asset, and the spreads start at 2.5 pips on the Euro Dollar pair.
WARNING: If you want to use an automated trading software, first read this.
Compare your software with the popular systems.
Not a Licensed Forex Broker
Scam Broker Investigator reviews hundreds of Forex brokers, to determine if they are scams or real brokers. We always check for the broker to have a license from their local regulator. Many brokers are licensed in Europe by CySEC, or in the United Kingdom by the FCA.
At the time of this review, FXGTrade is not a licensed broker. Owned by Capital FXG LTD in the Marshall Islands, and operated by Nordic Pearl Limited. Their address is; Ovcha Kupel Complex, Lilyache Street 7, Sofia, Bulgaria. Their listed phone number in United Kingdom is: +44 203 129 3626. Official website is at: https://fxgtrade.com/.
According to their terms and conditions page, their website is managed by: Nordic Pearl Limited, Geo Milev District 43, Shipchenski Prohod Blvd., Entrance A, Floor 1, Office 5, Sofia, Bulgaria. But they are not licensed by the Bulgarian FSC. On February 19th 2019, FSMA Belgium warned that this company is a scam, read warning.
Trading at a regulated Forex broker is the smart thing to do, and you should go here to see reviews of licensed brokers.
Who is The Best Broker?
The best forex broker is a very general statement, because each investor has their own needs and requirements from their broker. However, a smart investor will always have their main broker, and another broker as a backup. You can see our list of most popular brokers.
Are you currently investing in Forex with the brokers FXG Trade? Please share your experience with other readers in the comments section below.