This GL-FX broker review exposes lies of this unscrupulous company that wants you to trade Forex with it.
The broker also offers managed accounts that will run algorithmic trading strategies. Profits will allegedly by as high as 200%+ per year. The minimum investment is $10,000.
GL-FX claims to be regulated in the UK, clients deposits’ allegedly are insured.
We analyzed GL-FX and found out that it is a dangerous scam. And it is easy to prove, we’ll do it in this review.
Not regulated, not insured
Not only is GL-FX not regulated in the United Kingdom, it is not even registered there! This means that it is an unauthorized and illegal investment services, deposits are not insured with this company. See our picture for a proof.
On its website the broker displays several awards, some even from 2016. But they are fake.
Again, you will find a proof on our picture. GL-FX exists only since 2019, so it could not have won any awards in 2016, 2017 or 2018.
Shady investment plans
To put that into perspective, world’s best hedge funds might achieve this performance occasionally, they certainly cannot do that every year.
So, how likely is that an anonymous and illegal service can do this every year? The probability is very close to zero.
GL-FX review conclusion
GL-FX is a scam broker, it is not regulated and its website is full of lies. Stay away from it!
If you want to trade financial markets, do it with regulated brokers only and start on a demo account to learn it with virtual money.
Only when you are familiar with trading and the risks, you can start investing your own money.