GlobalSpot FX Scam Review
OFFICIAL SCAM SITE: globalspotfx.com
GlobalSpot FX appears to be a legit broker for Forex, cryptocurrencies, and more, one that allows for massive profits via trading. Sure, the website might look like the real deal, but all this means is that a lot of effort was put into a website which may be meant to scam you. Globalspotfx.com might appear to be a reputable online broker at first glance.
However, after a bit of research and snooping around, we quickly realized this broker might not be all it is cracked up to be. There are a lot of scam factors which came to our attention, all of which indicate that something shady and illegal is going on. This is our GlobalSpot FX review and we are here to shut this malicious broker scam down once and for all.
GlobalSpot FX – A Confused Broker
If you take a close look at globalspotfx.com, you will notice that the homepage makes many references to cryptocurrencies, Bitcoin to be specific. The whole site is filled with info about cryptocurrencies and why it is profitable to trade with them. Therefore, it would be safe to assume that this is a cryptocurrency broker.
However, once you get to the actual accounts, things start to look a bit different. The various account levels all mention that they include Forex, CFD, commodities, and indices trading. Yet, none of the accounts mention a single thing about allowing for crypto trading. This really does not make sense in the least. There seems to be a whole lot of confusion here.
Globalspotfx.com – Anonymous
The next red flag which came to our attention here has to do with the leadership of globalspotfx.com. To be precise, we could not find any mention of any kind of leadership or ownership, not a single one. It seems as though this broker purposely goes out of its way to keep the people behind it hidden from sight.
This total lack of transparency and purposeful anonymity is a very strong indication that there is a scam afoot. If this GlobalSpot FX broker were the real deal, there would be no reason for the people behind it to stay hidden from sight.
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GlobalSpot FX Company Info
This particular broker claims to be based and registered in the UK. There is an official office address provided on the site, but this is false. We checked the address, and while it does exist in real life, it does not belong to this company. It’s just a lie.
Next, GlobalSpot FX claims to be owned by a company called Trade Con Limited, which claims to be registered in the UK. Well, we checked the UK Companies House, and no such company is registered in the UK. This is a completely unofficial and unregistered broker.
Globalspotfx.com – No Licensing
What also stands out about this particular broker is that it clearly does not possess any sort of license to operate. Seeing as this is supposed to be a broker operating out of the UK, it has to be licensed by the FCA.
Well, we checked with the FCA, and of course, Trade Con Limited and GlobalSpot FX are not licensed in any way, shape, or form. In other words, this is a completely illegal operation which has no business handling your money.
GlobalSpot FX Trading Platform
What is also important to note about this particular broker is that it does provide traders with a trading platform. These guys are claiming to use some kind of custom-made web based trading platform.
The issue we have here is that this web based platform has absolutely no security or encryption measures whatsoever.
It’s made to be unsecure. However, beware that this is purposely done. The whole point of this trading platform being unsecure is to make it easier for the crooks running the show to steal your money.
Let’s not forget that the GlobalSpot FX broker’s trading accounts just don’t make any sense either. They seem to have completely random features that don’t at all depend on the chosen account level. This whole thing is just utter nonsense.
The Demo Account
Yet another scam factor that came to our attention has to do with the so called demo account available from globalspotfx.com. According to the site, the demo account is all about letting people test the trading platform out, all without having to risk real money.
People always love demo accounts, but the problem is that this particular one is rigged. It only wins trades and displays massive gains.
This is nothing more than a cheap trick. It’s specifically engineered to only show winning trades, thus giving off the impression that the real live accounts will also perform like this. However, it is just not true. It’s a trick meant to convince you that the trading platform is the real deal.
GlobalSpot FX Broker Withdrawals
Perhaps the most damning scam factor we found here has to do with the fact that it is simply impossible to make withdrawals from this broker. We have received a large number of complaints from unhappy scam victims who have been stolen from. The story is always the same.
People invest their hard earned money with globalspotfx.com, only to have that money disappear in front of their very eyes.
Many victims have reported that their accounts got shut down without any notice. The simple fact of the matter is that this broker steals money from people. In no way does it produce profits and once people deposit money, that’s it, it’s gone.
GlobalSpot FX Review – The Verdict
The bottom line is that the GlobalSpot FX broker is a complete rip off. It’s an anonymous broker with completely bogus company information. It is not officially registered in any one country, plus it has no licensing either.
The various account levels don’t make sense, the demo account is bogus, and withdrawals are not possible. At the end of the day, it is totally obvious that globalspotfx.com is a scam broker, and nothing more.
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If you would like to find out more about cryptocurrencies and cryptocurrency trading, go to our Cryptocurrency Explained section!
https://www.forbes.com/sites/soorajshah/2020/05/31/fraudsters-exploit-covid-19-to-scam-56m-from-victims/#55ce8b581506
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