FxGlory is a forex broker. FxGlory supposedly has its physical location in St, Vincent and the Grenadines, the company offers a trading platform on the web that supports the MT4 trading platform. FxGlory offers about 35 forex currency pairs, silver, gold, oil and other metals for your trading and investment options.
Is FxGlory Regulated
FxGlory claims to be regulated by the Central Bank of Georgia. However, the Broker location which is St, Vincent and the Grenadines is mostly used by scam Brokers to trick their customers into believing they are regulated. This country has no serious regulatory body in place for forex Brokers. For a Broker to be considered regulated and therefore safe, it has to be regulated by any of the following;
- The Cyprus Securities and Exchange Commission (CySEC) for Cyprus
- The Financial Conduct Authority (FCA) for the United Kingdom
- The Australian Securities and Investments Commission (ASIC) for Australia
- Autorité des Marchés Financiers (AMF) for France
- Commissione Nazionale per le Societa e la Borsa (CONSOB) for Italy
- The National Futures Association (NFA) – For the United States. And other European regulatory bodies.
None of the organizations mentioned above has information about FxGlory. FxGlory requires a minimum deposit of $1 to start trading. But trading with an unregulated broker is not reliable. Hence it is not safe to deal with them.
Forex-Peace-Academy advice to use a high level of caution when trading with this Broker because of the high level of fake and highly suspicious positive reviews submitted on their website between November 2015 and May 2016.
Scam Warning Signs to Look out for on Trading Platforms
- FxGlory blocked your account, or you cannot log back into your account
- FxGlory froze your account
- Money has been taken out from your account
- FxGlory’s website has been taken down
- FxGlory is not answering take your calls
- You noticed that FxGlory took money out from your bank account without your permission.
- FxGlory requests that you deposit more money into your account after losing a large sum of money.
How to recover funds lost to FxGlory scam
Getting a genuine Broker has gone more tedious because the forex market is now full of scam forex Broker because of the attention the market has gotten over the years.
If you have been scammed on the platform and looking for ways to recover your money, congratulations, you are in the right place. Unlike the earlier days of forex Broker scams where there is absolutely nothing victims can do to recover their money, new technologies and security measure has made it possible for victims to get their lost funds back.
If you have lost money with FxGlory Trade, don’t panic. Mistakes can happen even with the most cautious of investors and should be used as a learning opportunity. Part of the defence mechanism against scams is to never think it can’t happen to you because anybody can be scammed at any time.
Your best chance to successfully recover your funds is to hire a Funds Recovery Expert. A Fund Recovery expert can file a Chargeback or Wire Recall for your case with your Financial service provider. A chargeback is a reversal of a credit card transaction. You have to structure a report that can convince your financial provider or Bank that you were scammed by the entity you transacted with. A Fund Recovery expert can consist of a group of Lawyers, data recovery experts and financial advisers, so a Fund recovery personnel is trusted to put down a well-structured report to file for a chargeback. Resist the urge to file for a chargeback yourself because you only have one chance to file for one with your Bank, and you should do everything necessary to make sure it is successful.
You can hire a Fund recovery expert from Recoveries Pro. Recoveries Pro is a trusted platform where you can hire different recovery experts such as Funds, Data, Cryptocurrency Wallet, Bitcoin, etc. With over 500+ satisfied customers, Recoveries Pro can be trusted to recover your lost funds from the FxGlory scam.
Some evidence is needed to file for a chargeback.
- Photo evidence of the product or service
- Product description or advertisements
- Copy of all communications with the merchant
- Documents relating to transaction history
- Terms and conditions or contracts
The list above is only a partial list, and a Fund Recovery Expert may deem it fit for you to submit some additional document not mentioned above. Resist the urge to file for a chargeback yourself and hire a Fund Recovery expert on Recoveries Pro.