FX Glory Review Summary
FX Glory Review Highlights
Pros & Cons
- Used by more than 10,000 traders
- Founded in 2008
- Control via the National Bank of Georgia
- Min deposit $500
- Does not allow hedging
- Not governed by the FCA
FxGlory brokerage is the only brokerage in the world to offer a leverage of 1:3000 for a low sum of money. They don’t charge clients for this service, though. The spread offered by the broker varies from 2 to 10. In addition, the transactions courtesy of clients are automatically connected to a bank. To mention some of the precious advantages, they may claim that there is a quick execution of trades and a minimum spread on trades. In addition, the company considers a big budget to offer incentives to all clients who deposit into their accounts. Another precious advantage of FxGlory is that they do not have a minimum sum to deposit and withdraw. This opportunity lets the client check out services with only a small amount of money. The broker does not charge taxes on income of its customers. Also, given that they accept most kinds of electronic money, the company has received a special welcome from American clients. With regard to the bonus, this incentive on depositing money helps reduce the margin and thus the trading risk for clients. This benefit comes from an enormous and limitless advertisement budget. In addition, they have other special provisions, such as a reduction in spreads and the account operated by a professional money manager for all clients who deposit more than $100,000 in their account.
In 2011, FxGlory was founded in the U.A.E’s Department of Economic Development. After one year of experience in Asia, FxGlory opened its new offices in some European countries. In order to extend the offerings, they have agreed to open new branches in other nations. They have recently opened a new office in Saint Vincent and the Grenadines with registration number 23463.
Generally, the broker offers fair and attractive trading rates on a variety of trading instruments, but with an excessive leverage ratio of up to 1:3000 and binary options that are often very contentious. This amount of leverage is known to be very volatile, considering that capital is sold at considerable risk, while gains and losses are compounded in a timely manner.
Apart from that, there were several negative feedbacks and concerns from traders who had experience with FXGlory, so the firm was known for scam operations, which clearly demonstrated cases of withdrawal delays or negligence of customers, as well as market price infringements. In addition, CONSOB gave a warning to FXGlory.
FX Glory Registration
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